Resale value may seem a strange factor to consider when buying a new car in Marysville. Why is car depreciation and resale value important when purchasing a vehicle? Depreciation is the biggest factor affecting the long-term value of your car and the total cost to own it. And if you borrowed money to buy the vehicle and decide to sell it after a few years, you might be upside down on the loan, or owe more money than it’s worth.
What Causes Car Depreciation?
Two things help reduce depreciation. The first is getting a model that has recently been redesigned. Cars with designs four or five years old often develop a bad reputation at resale. Another factor is mileage. Try to limit your miles driven. Mileage the single best way to help a car retain its value. Being a stickler for regularly scheduled maintenance like oil changes and tune-ups will also go a long way to helping your vehicle retain its value.
Other Vehicle Resale Value Factors
The type of car you buy matters too. Subcompacts and those that may be sold in quantity to corporations usually get a hit in resale value. There will be too many available at the same time. They’ll be flooding the market five years from now when you might be replacing your vehicle. More expensive vehicles, like Mercedes and BMW, usually have models high on the resale value list. SUVs and crossovers tend to do better, too. Mini Coopers have made the list in the past, too, giving English cars a boost in this area.
We Keep Your Vehicle Valuable and Running Smoothly
Keeping your vehicle valuable and running smoothly is what you can rely on from Classic Motor Sports. They’ll keep your European car in top condition from the day you buy it until the day of resale. Keep your regularly scheduled maintenance with our certified BMW and Mercedes technicians and save some money avoiding the dealership garage while still keeping your car’s resale value high. Contact us today!
Car Depreciation Help and Information near Marysville
German, British and European auto repair & service in Mukilteo, Edmonds, Everett, Lake Stevens, Lynnwood, Marysville, Mill Creek & Snohomish
Posted on October 26, 2020 | Published by Ignite Local | Related Local Business