Depreciation: How To Stop Your Car From Losing Its Value
All cars face depreciation and, ultimately, lose their value. But you can help preserve as much as possible via a few simple steps…
Eliminate Needless Mileage (And Depreciation)
The higher the mileage a car has covered, the more wear and tear you can expect it to have; so there’s a direct relationship between the distances you drive and the rate at which your car depreciates. Naturally, you have a car to, well, drive. But you can reduce your car’s mileage by eliminating needless trips – by walking to the shops or by occasionally using public transport when appropriate. It couldn’t hurt to research and optimise your journeys, either.
Go For A Desirable Model
Buy a car that no one wants and, when you come to sell it, the chances are no one will want it. That means serious depreciation. Go for a model that’s selling like hotcakes and, in the long-term is likely to maintain interest amongst consumers. Naturally, this is sometimes easier said than done (you’re not a fortune teller). However, a bit of research can shed light on trends and the plans of manufacturers.
Have A Detailed Service History
A car without a detailed service history is a major red flag. It essentially means that there’s no evidence the car has been properly looked after or that it hasn’t been used by unscrupulous people. When you buy a car (assuming it’s not new) make sure it has a detailed history when it comes to where, and when, it’s been serviced. Being able to prove your car has been looked after will keep depreciation at bay.
Say ‘No’ To Modifications
We know, you absolutely love that spoiler and the racing-style seats. But guess what, no one else does. Which means when it comes to sell your car you’re going to struggle to find a buyer (unless you’re very lucky or knee-deep in a racing sub-culture). Resist the temptation to make complex modifications to your car. It’s also worth considering that modifications will ramp up your car insurance premium; and yes, it is a legal requirement to notify your provider.
Stick To A Popular Colour
It may sound inconsequential, but a car’s colour can go a long way in warding off depreciation. As a general rule, Brits tend to like plainer shades like grey, black, white and silver. In fact, these colours have dominated the market since 1999 back when blue took the top spot. In other words, unless you’re enamoured with a blood orange or yellow car, keep things a tad humdrum.
Service, Maintenance And Repair
Keeping your car properly serviced and maintained is the absolute best way of helping your car to retain its value. When everything works and looks as it should, buyers will naturally gravitate to your motor (especially when you’ve got a proper service history as above). Sure, it can cost a bit to regularly visit the garage, but general maintenance prevents eye-wateringly expensive repairs from appearing. Plus, when you come to sell your car, you’ll scrape more back.
Sell At The Right Time Of Year
Some cars sell better at specific times of year. Convertibles, as you might expect, do well in the summer. Conversely, 4x4s tend to perform in the colder months. Do a bit of research and work out when you’re most likely to get the most interest; and the best price.
Keep Things Clean And Tidy
It goes without saying, but when you’re selling your car you want it looking pristine; having given it a good clean, polish and a once over with the vacuum cleaner. That said, your car should be getting regular TLC. Otherwise, stains and marks can built up in the interior and the elements can damage your car’s paint and bodywork.
Don’t Smoke Inside Your Car
Smoking in your car can have a massive effect on its ultimate value. Why? Because it’s exceptionally difficult to remove the smell of tobacco and, in addition, smoke and fumes can stain a car’s interior. Absolutely no one wants to drive a car that smells of a former owner’s smoking habits. If you smoke, make sure you do it outside and not from behind the wheel – assuming you care about your car’s value.
Take It Easy Behind The Wheel
A car’s lifespan will directly correlate with how it’s driven. If you’re regularly braking late, accelerating harshly and taking corners too sharply, you car’s internals are going to be taking a battering. Even if you’re no stranger to the local garage, there’s only so much a mechanic or technician can do. Keep things smooth and seamless whilst you’re on the road and your car will remain noticeably functional and comfortable in the long-term.
Car Gadgets: Five You Should Always Have In Your Car – https://autoserveclub.co.uk/blog/car-gadgets-five-you-should-always-have-in-your-car/
The New Car Smell Could Soon Be A Thing Of The Past – https://autoserve.co.uk/motoring-news/the-new-car-smell-could-soon-be-a-thing-of-the-past/
