With very few exceptions your next car will not be an appreciating asset. It will very likely lose money as soon as you drive it down the road. A new car in particular is not a new car ten miles later. Of course there are all sorts of other reasons for buying a vehicle but profit is not generally one of then. Having said that, some cars keep their value better than others. If you buy a used car at a bargain price, then it could be that you will lose very little at all. So here are a few pointers to keep that value as intact as you can and make the most of your depreciating asset!
Buy well
It might seem funny to say it but buying well is the most sensible thing you can do. This does not just apply to the price but also to the type of car you buy. Put simply some cars depreciate quickly and lose their value. For example, a Ford Ka might have a lot going for it as an economical vehicle, but it is not known as a great price retainer. If you look to buy a car then why not make it one that is sought after and will possibly hold much of its value if you treat it well? One day, after all, you will be trading it in as your old car, and you will want to get the most you can for it.
Buying well means getting a car that has a full service history. That service history should be reflected in its log. It is perfectly easy to track a car online these days and to find out if there are any glaring omissions. That means you can find out if a car has been written off for example. Buying well means getting a car that is in good condition and has a relatively low mileage. On average a car travels 10 k for each year of its existence. You can multiply that by the number of years to arrive at the suitable mileage.
Drive it well
If you treat your car with respect and observe the basic road rules, there is no reason why your car should not give you many years of trouble free motoring. As a responsible owner that will involve keeping oil and water topped up as well as driving around with the tyres correctly inflated. It will mean being sensitive when carrying trash to the tip, garden cuttings or beach toys. It will involve generally looking after the day to day maintenance of the vehicle. Get into the habit of getting a car wash service that will enable you to give your car a complete clean inside and out. This will not only keep it looking better but it will stop dirt and residue from wrecking the paintwork and trim.
Have your car serviced
Maintain your car with not just your own regular checks but also a full service every year at least. That will involve a change of oil, plugs and filters. It will also flag up any possible issues that you need to be aware of in terms of possible repairs.
Look after your car and don't try and hold onto to it for too long. Look to recoup some value from it by selling or part exchanging it a couple of years down the line. Every car no matter how once prized reaches the point of no return, and you don’t want to be the owner when that moment comes!
Buy well
It might seem funny to say it but buying well is the most sensible thing you can do. This does not just apply to the price but also to the type of car you buy. Put simply some cars depreciate quickly and lose their value. For example, a Ford Ka might have a lot going for it as an economical vehicle, but it is not known as a great price retainer. If you look to buy a car then why not make it one that is sought after and will possibly hold much of its value if you treat it well? One day, after all, you will be trading it in as your old car, and you will want to get the most you can for it.
Buying well means getting a car that has a full service history. That service history should be reflected in its log. It is perfectly easy to track a car online these days and to find out if there are any glaring omissions. That means you can find out if a car has been written off for example. Buying well means getting a car that is in good condition and has a relatively low mileage. On average a car travels 10 k for each year of its existence. You can multiply that by the number of years to arrive at the suitable mileage.
Drive it well
If you treat your car with respect and observe the basic road rules, there is no reason why your car should not give you many years of trouble free motoring. As a responsible owner that will involve keeping oil and water topped up as well as driving around with the tyres correctly inflated. It will mean being sensitive when carrying trash to the tip, garden cuttings or beach toys. It will involve generally looking after the day to day maintenance of the vehicle. Get into the habit of getting a car wash service that will enable you to give your car a complete clean inside and out. This will not only keep it looking better but it will stop dirt and residue from wrecking the paintwork and trim.
Have your car serviced
Maintain your car with not just your own regular checks but also a full service every year at least. That will involve a change of oil, plugs and filters. It will also flag up any possible issues that you need to be aware of in terms of possible repairs.
Look after your car and don't try and hold onto to it for too long. Look to recoup some value from it by selling or part exchanging it a couple of years down the line. Every car no matter how once prized reaches the point of no return, and you don’t want to be the owner when that moment comes!
