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The widely acknowledged truth is that the value of a new car plummets the instant it rolls off the dealership floor. Indeed, a new car’s worth can plummet by more than 20% in its first year alone, escalating to a 40% decrease after five years. This may not seem pressing initially, but there are effective strategies to safeguard your vehicle’s value for the long term. Here’s a distilled set of advice for keeping your vehicle’s resale value robust.
Priority one is clear: meticulous upkeep is imperative. Committing to a systematic maintenance schedule is the most crucial step you can take as a vehicle owner, aimed at preventing significant value loss upon resale.
Equally crucial is the practice of regular vehicle check-ups, beyond just routine oil changes. Such preventative measures ensure the timely renewal of essential fluids and filters. Ignoring these maintenance activities can lead to more drastic and expensive repairs later on, ultimately reducing the vehicle’s service life. Heeding any service or repair recommendations made by your mechanic during check-ups is equally important.
Documenting your car’s maintenance history meticulously, noting down services, mileage, and other significant information, is essential. This log becomes an invaluable asset when selling, offering potential buyers a transparent and thorough history of the car’s care. With supporting receipts, a comprehensive service history not only streamlines the selling process but may also enhance the selling price.
While cars play a critical role in our daily routines, if you anticipate selling or auctioning yours in the foreseeable future, it’s prudent to consider it more as an investment than just a means of transportation. For more insights on how to conserve your car’s resale value, consult the accompanying guide.
Infographic created by Capital Auto Auction, featuring a huge selection of cars available at our Arlington car auctions
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