Car Depreciation - Cut your losses
Car Depreciation is a harsh game that we all have to play when we buy a new ride as when it comes to sell up the value of your model has rapidly dropped.
We all know someone who has been caught out in the car depreciation game but as an owner of a ride what can we do to reduce this?
Trying to avoid it
There are certainly some tips we can give to try and help you avoid it:
Prestige vehicles are steady in price. They are often in high demand and normally looked after very well so if you care for your prestige ride you may find it has a nice return in store for you,
Diesel Engines are huge in demand at the moment and rightly so too. They are cheap to run and they go on for what feels like an eternity. The lifespan of an average diesel is much higher than that of and equivalent petrol engine.
Lower Spec Models, It may surprise you but most lower spec models hold their value much better than the higher spec models, especially on smaller vehicles. With the ever rising insurance costs younger drivers find it so hard to get on the roads so they are limited to smaller, lower spec'd vehicles to begin with. This opens up a big gap in the market and if you own a smaller spec vehicle, possibly for the same reason as just mentioned than you may find a happy return if your ride is kept in good condition.
Exploiting it
Used vehicle buyers have handy way of completely avoiding depreciation. How do they do it? Here's how:
Rare models. The market is flooded with vehicles of the same model and same spec so it's hard to make any money when Bob round the corner is selling the same car for much less. Its worth opting for a rarer model as it's a lot harder to find another one.
Economical or smaller engine'd vehicles. With the cost of fuel prices continuously creeping up on us bigger engine'd rides are not sought after and therefore hard to sell on for a good price.
Colours. The colour of the ride cans seriously affect its market value. It sounds silly but it's true, most manufacturers go through a funny stage and often opt for a highly revolting colour or a range of non metallic colours when building these rides in the factory. This makes these particular models harder to shift.
Trims. The trim can make a difference in a ride and for an executive ride to have cloth trim and no air conditioning will affect the market value of the ride. Most dealers try to avoid vehicles like this to make money on as there is no demand in the market for these kinds of vehicles.
There are more than likely some other tricks of the trade that we don't know about but hopefully we have given you sufficient information for you to go away with. There is so much to take into consideration when maximising your sale, it makes you wonder how most dealers can put up with such a chore as selling vehicles for a living!
