The moment a new car leaves the dealership lot, its value starts to decline—and the decrease happens quickly. On average, vehicles lose approximately 20% of their value in the first year, and after five years, depreciation can reach up to 40%. However, there are steps you can take to slow down this process.
Staying on top of regular maintenance is crucial for preserving your car’s condition and minimizing depreciation. Routine tasks like oil changes, tire rotations, and scheduled inspections keep your vehicle running efficiently and help maintain its value over time. Following your mechanic’s recommendations is an important part of this effort.
Keeping a well-documented record of all maintenance and repairs, including dates, mileage, and the services performed, is another smart move. A thorough maintenance history not only shows that your car has been properly cared for but can also enhance its resale value when the time comes to sell.
When purchasing a vehicle, it’s a good idea to think about its future resale or trade-in value. Consulting with a trusted car auction company can provide valuable insights into market trends, helping you make informed decisions about selling or trading your car down the line.
For additional strategies to preserve your car’s value and maximize your return, check out the infographic below.
