Car depreciation is the difference in value from when you first buy a car to when you are selling it.
Even when you buy a brand new car from a dealership, the second you drive away, the car depreciates in value. You'll have learned this the hard way if you ever tried to sell a new car back to a dealer!
The drop in value is subjective, depending on the car make and model. On average, cars depreciate 15-35% in the first year, and up to 50% in the following years.
Our cash for cars experts have put together a list of top tips to minimise you car depreciation.
Keep your millage as low as possible
Make sure to upkeep your car and repair any damage as soon as possible.
Buying yourself a used or nearly new car will result in a much smaller depreciation.
Making sure you choose a car with a popular colour will make it easier to sell
you should also opt for durable metallic paint.
You could opt for car leasing as the depreciation is included in the monthly repayments.
Before you buy a brand new car, you should research the amount of depreciation for that make and model for older vehicles.
Make sure to keep your car serviced as this will put future buyers at ease.
Sell your car the easy way.Get a Quote