By Pamela Rose
The moment a new car drives off the dealership lot, its value takes a significant hit—a well-known reality. Within the first year, it can lose over 20% of its value, and within five years, that figure can escalate to 40%. While this might not raise immediate concern, there are effective measures to uphold your vehicle’s worth over time. Here are some condensed tips for maintaining a robust resale value:
First and foremost, prioritize meticulous upkeep. Adhering to a regular maintenance schedule is pivotal in mitigating depreciation when it’s time to sell.
Regular vehicle inspections complement routine maintenance tasks such as oil changes. These preventive measures ensure timely renewal of crucial fluids and filters. Neglecting these tasks can result in more severe and costly repairs down the line, ultimately diminishing the vehicle’s lifespan. It’s equally vital to heed any service or repair recommendations provided by your mechanic during inspections.
Thoroughly documenting your car’s maintenance history, including services rendered, mileage, and other relevant details, is paramount. This documentation serves as a valuable asset when selling, offering potential buyers a transparent and comprehensive account of the vehicle’s maintenance journey. Supported by receipts, a detailed service history not only streamlines the selling process but can also potentially bolster the selling price.
While cars are indispensable in our daily lives, considering yours as more than just transportation—viewing it as an investment—can be prudent, especially if you foresee selling or trading it in the future. For further insights on safeguarding your car’s resale value, consult the guide below.
Infographic created by Capital Auto Auction, featuring a huge selection of cars available at our Arlington car auctions
