The moment you drive a new car off the dealership lot, its value starts to drop—and it happens fast. On average, cars depreciate by about 20% during the first year, and within five years, that number can reach up to 40%. Luckily, there are ways to slow down this process.
Regular maintenance plays a crucial role in maintaining your car’s condition and preserving its value. Key services like oil changes, tire rotations, and routine inspections are essential to keeping your car running smoothly and minimizing depreciation. Following your mechanic’s advice can make a big impact.
Keeping detailed records of your car’s service history, including dates, mileage, and repairs, is also a smart move. Not only does this demonstrate that your car has been well taken care of, but it can also boost its resale value when you’re ready to sell.
Since buying a car is a major financial decision, it’s wise to consider its future resale or trade-in value from the start. Working with a trusted car auction company can offer insight into the latest market trends, helping you make a better-informed decision when it comes time to sell or trade your vehicle.
For more tips on maintaining your car’s value and maximizing your return, be sure to check out the infographic below.
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