When you buy a car for the first time, one of the things you may not realise is that the moment you sit behind that wheel, your car has decreased significantly in value. Depreciation is something that happens to your car from the moment you buy it, and it causes the car to decrease in value over the years until you sell it. The reason cars depreciate in value over time is simple due to new cars coming out every single year. As a new car comes on the market, the older models become less desirable, and therefore hold less value.
One of the biggest challenges we face as car owners is maintaining the value of our car over time. Car dealers such as CMC Autos may offer a decent price for a trade-in, but often it won’t be the value we set our hearts on when budgeting for a new one. There are a lot of factors that affect the value of your car, and these are some of the reasons why your car is decreasing in value.
Smoking in your car
Smoking in the car is not legal in all parts of the world, but where it is legal it is not a good idea. Not only is smoking in the confined space of a car dangerous, it also causes the car to smell stale and rotten over time. Even if you don’t notice the smell yourself, the car can really stink and this will impact the ability for you to trade it in or sell it to someone else.
Not maintaining the car
Maintaining your car should be the most obvious thing in the world, but the simple fact is that a lot of the time we forget about it. When we live a busy lifestyle it is far too easy to forget to wash the car or change and fill fluids, but this will have a real effect on the health and longevity of the car over time. Neglecting the maintenance of the car is never a good thing and it is important for you to make time to look after your vehicle.
It is incredibly important if you want to maintain a healthy and happy car over time that you invest in repairs. There will be times during your tenure as a car owner that your vehicle will face issues, and parts ay need to be repaired or replaced to fix the issue. Whatever you do, don’t allow amateur mechanics to do the job. It might be cheaper at the time, however, in the long term it will cost you money when the value of your car on resale is significantly lower than it should be.
Choosing a horrible colour
You might assume that painting your car a new colour is cheap, but this really isn’t the case. In fact, spray painting or wrapping a car can cost a pretty penny and this means that if your car is a garish colour, people won’t want to buy it in order to paint it. When you choose the colour of your car, think about the resale value. Colours such as brown, green, yellow, and pink can be a major turn off for many people.