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Cars are an important part of life, and, frankly, for most of us, they are the only real toys that we have in our adult life. The issue with cars is that from a financial point of view, they are not the best asset to buy since from the moment a new car is purchased from a dealership it will quickly lose value.
For example, a new car loses about 11% the very moment it leaves a dealership and keeps losing about 15%-25% of its initial price each year during the first 5 years of usage. If you plan to have a new car just a few years, then it’s wise to know about the resale value of your particular model (which can be easily checked up on the Internet).
Some cars hold their value better than others, and we are here to try to help you with basic facts.
Infographic Source: https://absolutereg.co.uk/news/car-depreciation-rates-what-cars-hold-their-value-best
Thanks for pointing out the factors which are responsible for the depreciation of the car value. The car is nothing but one kind of investment which needs regular maintenance to run smoothly. Such kinds of maintenance are also essential to increase the resell value of the vehicle. Car service is an important factor which affects the car’s depreciation rate. So, one shouldn’t skip the car service. The condition of different components of the vehicle should be inspected regularly to identify and fix mechanical issues associated with the concerned components.