The moment a car is driven off the lot, its worth begins to diminish, often quite rapidly. It’s common for a car to lose about 20% of its original value within the first year, and it might decline by as much as 40% after five years. Yet, there are ways to reduce this loss in value.
Maintaining your vehicle regularly is crucial for keeping its value high. Routine care, like oil changes, tire rotations, and regular inspections, helps maintain the car in top functional and visual shape. Following the maintenance schedule set by the car’s manufacturer not only prolongs its life but also makes it more appealing to future buyers.
Keeping comprehensive records of maintenance and repairs is another beneficial tactic. Recording the dates, mileage, and details of each service proves that the car has been well cared for, which can boost its resale or trade-in value.
When considering a new car purchase, factor in the vehicle’s potential resale or trade-in value. Consulting with automotive experts can provide insight into the market trends, helping you make better decisions when the time comes to upgrade.
For additional tips on preserving your car’s value and maximizing your investment, see the infographic below.
Content created by Capital Auto Auction, a trusted car auction company
