As soon as you drive your car off the forecourt it instantly drops in value. There’s nothing you can do about this! However, it doesn’t need to depreciate as quickly as some vehicles do. Most people will have their car for a couple of years before going for an upgrade.
When it comes to this time, you want to make sure you get the best price for it. This money can then be used towards your new vehicle! So, how do some people keep the value of their cars so high? Let’s take a look.
The Easiest Way
If you want to make sure your car doesn’t lose its value, then there are some pretty simple ways of doing so. The most obvious is to take care of it! This means not ragging it around or scuffing it on walls. Easier said than done for some. If you keep your car in good condition, then it will obviously sell for a lot more when the time comes. Think about how you use your vehicle and what can be done to keep it pristine. Not only will this slow down the depreciation, but it will also keep your insurance premiums low. It’s a win-win situation.
Some Cars Drop Quicker Than Others
You may have noticed that some older cars for sale are still going for fairly high prices. This is because some vehicle prices drop a lot quicker than others. If you want to keep your car’s value high, then you need to invest smartly in the first place. Anything big and expensive to buy new, will never really fall in price. This is because they’re a lot harder for people to get hold of. We’re talking Land Rovers and Ferraris. However, some reasonably priced cars can hold their value well too. Audi, Mercedes-Benz and BMW are prime examples of this.
Most people will be put off by a car that doesn’t have a full service history. It’s imperative that you keep this little book up to date! Go for a full check up with a company that specialises in your particular brand of car, to boost the value even further. You can save money by looking out for deals and discounts. For example, the TCH Servicing offers found here can keep your Ford running costs low. This means you don’t have to fork out a fortune on regular checkups. Which means you’ll be saving even more money in the long run. It’s well worth seeing what’s available for your particular car.
DIY Check Ups
It’s a good idea to keep a close eye on your vehicle yourself, too. By noticing when something isn’t quite right, you’ll be able to keep it in prime condition. This also means doing regular maintenance, such as checking the oil and filling the tyres with air. Make sure you have a good feel of your car and read through the manual. Know what each of the warning lights mean and keep an ear out for strange noises. By keeping your car well looked after, you’ll reduce the risk of any malfunctions. Which means it will hold its value for much longer.
These top tips should make it a breeze to keep the value of your car as high as possible. Of course, prices are going to drop. But, follow this advice and you won’t lose out on a ton of cash when you come to sell.