The moment you drive a new car off the dealership lot, its value begins to decrease—and the drop happens rapidly. On average, cars lose around 20% of their value in the first year, and after five years, depreciation can climb to as much as 40%. Fortunately, there are ways to slow this process.
Keeping up with regular maintenance is key to maintaining your car’s condition and protecting its value. Essential tasks like oil changes, tire rotations, and routine inspections help your vehicle operate smoothly and reduce the impact of depreciation. Following your mechanic’s guidance can go a long way.
It’s also wise to keep a detailed record of all maintenance and repairs, including dates, mileage, and services performed. A comprehensive maintenance history not only demonstrates that your car has been well cared for but can also boost its resale value when it’s time to sell.
When buying a car, consider its potential resale or trade-in value from the start. Reaching out to a trusted car auction company can offer helpful insights into current market trends, allowing you to make smarter decisions when it’s time to sell or trade your vehicle.
For more tips on protecting your car’s value and getting the best return, explore the infographic below.
