Buying any new car is a significant investment, and most drivers are concerned about getting the highest possible return when it’s time to sell. After all, whatever you get back from selling your old car can be used to cut into how much the next one costs. But unlike real estate that can become more valuable even if you’re not using it, your car depreciates for as long as you own it. It’s said that a car loses 15% of its value each year after the first year. However, even though it’s highly unlikely you can get back exactly what you spent on it, there are a number of things you can do to make sure you get the most possible from the sale of your used vehicle.
One of the most important steps you can take to maintain higher resale value is to make sure your car receives regular maintenance. This includes keeping records on all service and repairs performed on it so a potential buyer can see exactly what’s been done for it. If at all possible, try to limit the number of unnecessary miles you put on your car, since the more mileage it accumulates, the lower your return will be.
Everything you do with your car can influence how much you can get for it later. That includes where you park it, how you care for it and even how many fast-food meals you’ve eaten in it. To learn more about all the best ways to retain your car’s resale value before it’s time to sell, take a look at the accompanying resource.
Infographic created by Capital Auto Auction
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