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It’s widely recognized that the value of a new car takes a significant hit the moment it leaves the dealership lot. In fact, a new vehicle can lose over 20% of its value within the first year and up to 40% within five years. While this may not seem urgent initially, there are effective strategies to preserve your vehicle’s value over time. Here’s a condensed set of recommendations for maintaining strong resale value:
First and foremost, prioritize meticulous upkeep. Adhering to a regular maintenance schedule is crucial to minimize depreciation when it comes time to sell.
Regular vehicle inspections go hand in hand with routine maintenance tasks like oil changes. These preventive measures ensure that essential fluids and filters are renewed on schedule. Neglecting these maintenance tasks can lead to more serious and costly repairs down the road, ultimately reducing the lifespan of the vehicle. It’s equally important to heed any service or repair recommendations provided by your mechanic during inspections.
Thoroughly documenting your car’s maintenance history, including services performed, mileage, and other pertinent details, is essential. This record serves as a valuable asset when selling, offering potential buyers a transparent and comprehensive overview of the vehicle’s maintenance history. With accompanying receipts, a detailed service history not only simplifies the selling process but can also potentially increase the selling price.
While cars are indispensable in our daily lives, if you anticipate selling or trading yours in the future, it’s wise to view it as more than just a mode of transportation—it’s an investment. For further guidance on preserving your car’s resale value, refer to the provided guide.
Infographic created by Capital Auto Auction, featuring a huge selection of cars available at our Arlington car auctions
