Buying a brand new car is a joyous occasion for any car lover, you’ll likely have put a lot of thought into finding the exact model and style you desire. The problem is, once you get on the roads, your car starts losing value pretty quickly. It’s frustrating to lose your well-earned cash so quickly, but unfortunately, all cars will gradually experience depreciation. Thankfully, there are a few things that you can do to reduce the depreciation on your vehicle.
1 .Research the right motor
Before you start car shopping, thorough research is vital. Some cars will depreciate at a faster rate than others, so it really pays to know this before you commit to a purchase. The Mercedes A-Class, the Audi Q2 and the Tesla Model S have all been recently reported to have a slow depreciation rate. There is plenty of information online about the best and worst choices when it comes to depreciation. Of course, such information is changeable over time so ensure that you keep up to date.
2. Keep your mileage down
When you love your vehicle, driving is likely that little bit more appealing. The issue is, as the mileage on your car increases, the value decreases at the same time. Of course, you can’t totally avoid driving, but you can make an effort to keep your mileage down if you can. The average mileage is approximately 10,000 miles annually. To protect your investment, it could be worth aiming for this average value or less if you can manage it. Driving less will help you to go greener; either this or you could try an eco-friendly hybrid car.
3. Keep up your maintenance checks
To keep your car in top condition, it’s vital to stay on top of your maintenance checks. Have your vehicle serviced regularly and keep a detailed record of all services and repairs. Companies such as Krauses Automotive offer some top maintenance and repair services to help you keep things in good working order. You should also check over your vehicle daily, for any early signs of trouble. Take a look at your tyres every couple of weeks to ensure that you are driving using the correct pressure. Look over the paintwork for any indication of rust. Many drivers view rust as a merely aesthetic problem; however, it can cause corrosive damage to your car parts if left ongoing.
4. Careful driving
Driving carefully can reduce your chances of being in an accident or obtaining damages to your vehicle. If you want to sell on your car in the future, any accidents or major repairs will be logged in the car’s history. Such incidents will mean that the vehicle will lose value. This isn’t what you want when your attempting to gain some cash back from a sale, so safe driving is the best way.
Lastly, many drivers are choosing nearly-new or second-hand cars to avoid incurring losses on depreciation. The first owner of the car will have suffered the greater losses due to depreciation. Being the second owner means that you can bypass the bulk of these losses.