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Spanish5 Things You Can Do to Slow Down the Depreciation of Your Vehicle
Most people don’t buy a car believing it will increase in value over time. They understand that as the vehicle gets used, its value decreases, often dramatically. To clarify the process of a car’s depreciation rate, help Speedway drivers maintain more of their car’s value, and to slow down the depreciation process of their vehicles, the experts at Indy Car Financing have prepared this little primer. Read it carefully, then give us a call if you have any questions, or are ready to finance your next car.
Main Ways Your Car Depreciates in Value
It’s common knowledge that vehicles begin to depreciate as soon as you sign the loan papers. In fact, a new car can depreciate as much as 11 percent the moment you drive it off the lot. Adding high mileage, customizing your vehicle, owning a car that is difficult to resell, and a disparity in the cost of fuel versus the vehicle’s fuel economy can have a significant impact on your car’s overall value.
How You Can Slow That Rate Down
If you’ve bought your vehicle with the intention of reselling it or trading it in in the near future and want to maintain as much of the value as you can, there are a few tricks that can help you accomplish that:
- Maintain It – A car that has had regular maintenance will run better and be easier to sell.
- Buy a Popular Car – A car that’s in higher demand will be easier to sell at the price you want.
- Keep it Clean – Stained and torn upholstery, damaged paint, and filthy carpets will ruin the resale value of your car.
- Go Neutral – Flashy colors or wild aftermarket add-ons can turn-off buyers and make your vehicle harder to sell.
- Go For Features – Cars with extra safety and convenience features are more appealing to buyers, and can net more at trade-in.
Indy Car Financing Can Help You Get the Most for Your Trade
For more ways to protect the value of your investment, or to learn about our competitive loan services, contact Indy Car Financing online or at (855) 468-6215, or come see us in person at Speedway Chevrolet, located at 5252 W 38th St in Indianapolis.