Regardless of whether you own a sedan or a truck, it’s important to maintain the value of your vehicle. Automobiles tend to drop in value as soon as you purchase them. Just driving the car off the lot already makes the car worth less than what you paid for it. That’s the unfortunate reality of purchasing a vehicle. While the trade-in value may vary depending on the model, it’s estimated a car may lose about 30% of its value during the first three years of ownership and about 50% of its value after that. However, a variety of factors affect a car’s depreciation value, and it’s smart to address these factors early regardless of when, or if you plan to sell your vehicle.
For example, bringing your car in regularly helps keep the automobile operating smoothly and catches problems before they become more serious. You should also pay attention to the mileage; the more mileage you put on your vehicle, the more it depreciates. According to the Department of Transportation, the average annual mileage is 13,476 miles.
Whenever you decide to sell the car, having documentation on hand will be extremely helpful in maintaining a higher resale value. This includes records of maintenance and repairs. Finally, consider your driving habits and the impact on the condition of your car. Aggressive driving and speeding adds stress on the engine and increases the risk of having an accident. This in turn will affect its trade-in value and the safety of the drivers around. For additional information about how to keep your car’s resale value high, make sure to consult the infographic below.
Courtesy Of Chrysler Factory Warranty