How to Effectively Prevent Car Value Depreciation
Cars are probably one of the most expensive things considered as necessities that one must buy in his lifetime. However, unlike real estate or jewelry, the value of cars doesn’t go up unless you are buying a classic, customizing and rebuilding then reselling it. There’s really no stopping a car’s value from depreciating unless you invest even more money to pack it with power and customize its design. With all the money you will spend to do that, then you can probably at least resell it for a breakeven price.
Different people have different reasons for buying a brand new car. Others intend to use the car for as long as it still runs even if it’s already decades old, while others buy a car and resell or trade it in to a better and newer one after a few years. If you’re one of those who plan to eventually resell the car, then you must know how to prevent depreciation of your car’s value. This way, you can still sell the car at a decent price.
The Brand, Make and Model of the Car You’re Buying
The first fact to consider is the brand, make and model of the car you are about to buy. Do your own research because if you rely on the sweet words of a car salesman, then you will be fooled. Salesmen are there to sell the car to you and of course, they only have great things to say about it. Remember that if a car brand and model is too common, then its value depreciates faster. Even if it’s still fresh, looks and feels brand new, as soon as you drive it off the showroom, its value gets a lot lower.
Cleaning and Maintenance
Regular cleaning and maintenance is a must. Just like you take care of your own face and body, you take care of your car. You wash your face and protect it from sun and winter weather, you do the same with a car. Aside from washing your car on a weekly or bi-weekly basis, you also need to get its engine and other parts inspected and maintained regularly. This keeps your car in perfect shape even after years of driving it. From the exteriors to the interiors to that area under the hood, everything should be kept clean and well-maintained.
Other Important Factors to Consider
You also need to have a good parking area for your car. Its entire look is a huge factor when reselling so when you usually park it under the sun or the rain and snow, then expect the car’s body to deteriorate through time. It is best to have a covered garage at home, find yourself a garage door opener through Garage Automatics and have it installed so you can keep your car locked in a safe, dry and cool place at all times.
Mileage is very important too. If you overuse your car and the high mileage shows on the odometer, then its value goes down too. Second hand car buyers would rather get a car that hasn’t travelled long distances. If you have an alternate car to drive on road trips, then use that car instead because whether you like it or not, the mileage reading plays an important role in the value of your car.