4 Things That Cause Your Car To Depreciate
There are several car models which will depreciate faster than others. While the other will take forever to depreciate. In that can you need to not to worry and let not the confusion overtake you on this matter. Just bear in mind a simple rule that your car will depreciate about 15 to 25 percent every percent and that too every year. Now there are certain factors which can make your car to depreciate faster than you think. This article will guide you through four such factors which you need to be careful of. There are several things to take care when it is about the car. It can be about the fuel, cost of maintenance, road tax, and the overall running cost. So you need to monitor the expense and the money you a lot for the car's maintenance.
If you will not take the proper care of your car then the depreciation will be way larger then you actually think. Now, you must be like what actually is depreciation. Well, it is simply the difference in the value of cost and selling price. Remember that if you have bought a new car then after three years its value will go about forty percent down. Even it can depreciate way before that due to exterior conditions like manufacturers move. If they launch a new car which is way too better than the old model then you should expect a huge in prices. It is advisable that if your car becomes old then instead of keep throwing money over the expenses of your car you should actually consider the resealing. It is often waste of not only money but also your time. Keeping a car for too long will depreciate the value. So you should consider the option of getting the auto wrecker instead of getting the new shower done. Remember getting the original parts replaced will depreciate the value of your car which you won’t want ever.
In order to minimize the depreciation to a great extent just pay extra attention to the factors mentioned below.
Mileage tested by Car wreckers:
Keep in mind the average mileage of the car which is about 10,000- 15,000 miles per year. If the mileage tested by Car wreckers exceeds this limit then there will be no hole of doubt that your car will be worthless.
It is common sense as well that if the car travels more than more it depreciates. Many people already know this factor but they don’t take any measure to cope with this. People prefer leasing as it skips the process of depreciation bit obviously it also has a downside which is you will no longer be the owner. When it comes to the owning the car, even if you own it alone then it is better rather than having multiple owners. This point also depreciates the value of your car.
You will really benefit if you get the complete history of the services. The book must not only be completed but it must also be stamped. You can get good recommendations from auto wreckers on the basis of the book. Ensure to maintain road tax as you are payable to that else no one will buy your car.
Efficiency of engine
Even when you are buying get a car which will consume less fuel each year. If your care has more mile per gallon then your car will depreciate slowly.