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How To Reduce Depreciation Of A New Car In Freelton

How To Reduce Depreciation Of A New Car In Freelton

If you recently bought a car using an auto loan, new car depreciation is something you’re going to want to keep an eye on. It’s a fact of car ownership and something nobody can prevent. But you can minimize it. Today we will be talking about some great tips to reduce new car depreciation

 

Reducing depreciation can help prevent you going upside down on your loan and provide a higher trade in value when it comes time to upgrade.

 

Choose your make and model carefully

 

Mainstream makes and models slow depreciation best. Some vehicles are known for their build quality and reliability. It will be easier to reduce new car depreciation with these brands.  If you’re buying with an eye to the future, choose one of these brands.

 

Domestic brands don’t always retain value but are usually easy to sell thanks to their familiarity. They can also be a good option.

 

Pick a colour, not any colour

 

There is a whole psychology around car colour. There is also a practical aspect to it. Understated colours sell best, so retain their value best. Think timeless colours like black, white, silver, grey and so on.

 

Bolder or more exotic colours depreciate much faster as their potential market is smaller. There is a market for bold colours but it’s a very limited one.

 

Servicing and maintenance

 

A car with a service history and/or maintenance record with paperwork will always be worth more than one without.

 

Not only does it demonstrate you looked after the car properly, it also means it is less of an unknown quantity. Whether selling privately or trading in, a known quantity will always fetch a higher price.

 

Optional extras

 

Some optional extras are more desirable than others. It used to be a sunroof and electric windows. Now it’s a reversing camera and navigation. Other features like leather interior, heated seats, Bluetooth and WiFi can all now fetch a premium.

 

It isn’t worth ordering a car with these features specifically to maintain value. But looking after those features if you have them can help retain its value.

 

Sensible mileage

 

We can’t always influence the mileage we do, but if you can, keep mileage low as it helps retain the value of the car. The higher the mileage, the more the wear and tear. The lower the mileage, the lower the wear and tear and the higher the potential value.

 

On its own, mileage won’t have a huge impact. Combined with a service history or maintenance record, you could ask a good price.

 

Selling at the right time

 

If you drive a convertible, sell in late spring or summer. If you drive an SUV or something with AWD, fall or winter is a good time to sell. These can be minor influences over depreciation but they can definitely make an impact.

 

When every dollar counts, timing it right could make all the difference!

 

The less depreciation your car suffers, the more you can get when you come to sell it.

 

When that time comes, we will use all our skill and experience to deliver the lowest possible car loan rates, guaranteed. Contact Car Nation Canada Direct to learn how we can help.

 

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Categories: Auto Loan

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