Certainly, it is a fact that the cars drop by 15 -50% of their worth through the early years on the road. Unfortunately, there is no proper way to avoid devaluation. However, there are some tips in order to slow down the process of car devaluation so that you will get the best price at the time of selling.
The superlative practice to slow down the process of devaluation starts by selecting your car wisely so that, it will not lose its worth shortly in the selling market as compared to other cars. New cars undergo a fast devaluation in the very first year, so it’s always better to buy a used car rather than purchasing the new one.
If you are interested to buy used car, just keep in mind that there is a high demand of fuel-efficient and less expensive vehicles which are more likely to retain their actual worth for a long period of time. Moreover, every one of us wants a car that reflects his or her personality; though don’t overlook the point that personalization can have a great impact on your car value. Always try to choose the standard colors such as white, black and silver as these colors will stay up-to-date for a longer time rather than the cars with rare shades.
It’s always a good practice to keep a check on your car maintenance. Getting your car checked on the monthly basis helps you to keep an eye on the trivial issues and to repair them before you will get into a big trouble and devalue your car instantly. Always keep all receipts of your vehicle and put them in a file along with other documents. When you intend to sell your car, then the potential buyer can see those receipts as a confirmation that the car is being serviced regularly and was taken good care of.
If you find some free time from your busy schedule, just try to spend one or two hours to keep your vehicle well-maintained which will ultimately reduce the chances of devaluation in the later years.
Whether you own a car or you have got it from the prestige car hire company, it’s always good to get it checked on the regular basis. This way, you can keep an eye on the minor issues and fix them before they turn into the major ones, leading to devaluation of your vehicle. More importantly, you should keep the receipts with you (clip them in a separate file) so that when you return the vehicle or sell it, you can tell them with proofs that you have serviced it regularly and was taken good care of.
In fact, mileage seems to be the most critical factor when it comes to car devaluation. In simple words car mileage reflects the miles your car has covered over the period of time; the lesser the miles, more the worth of your car. If you are looking to buy used car, then it’s good to go for the one with the less mileage.
In order to reduce devaluation, you can keep doing the basic maintenance by yourself. Take some time out on weekends (at least an hour or two) and check the tail lights and headlights if they’re working, replace the worn out wipers and keep the oil filled-in. In this way, you can keep your car in good shape and gives out enhanced performance.