4 things to understand about vehicle depreciation

Keep your car’s value as high as possible - fight vehicle depreciation with Toyota of N Charlotte.

4 things to understand about vehicle depreciation

CHARLOTTE, N.C. (WBTV) -

As a vehicle owner, you have a lot of responsibility on your plate. After all, owning a car isn’t just hopping into the driver’s seat when you need to get somewhere. You have to keep it insured, keep it clean and detailed, get routine maintenance for it, and make sure you keep it in good shape so you can get your money’s worth when you sell it down the road. 

 

What is vehicle depreciation? 

 

However, there’s one more thing you should add to your list - understanding and fighting vehicle depreciation. Basically, cars lose value over time; there’s no getting around it. To be specific, most cars lose between 15-30% of their value in the first year and up to 50% of their value by their third year of ownership. This affects you as an owner because you want to get the most bang for your buck when you trade in or sell your N Charlotte Toyota in the future. So what can you do to combat vehicle depreciation? Check out these 4 tips. 

 

Tip 1: Choose your vehicle wisely. 

Did you know that some makes and models (like our N Charlotte Toyotas) hold their value and actually slow vehicle depreciation on their own? Do research to see which makes and models will help you fight depreciation without you even having to put in an effort before you take a test drive. 

 

Tip 2: Think about what future buyers will want. 

It’s important to think about what future buyers will want to fight vehicle depreciation. Fuel efficiency is usually a must-have for most buyers, and neutral paint colors are more favorable than bright or two-toned paint schemes. Additionally, consider where you live! Convertible cars, for example, are more popular in warmer areas of the country. Conversely, vehicles with all-wheel drive may not have much call in the south, but are popular options in the north where drivers routinely face snow and ice. 

 

Keep your N Charlotte Toyota from depreciating quickly with these tips 

 

Tip 3: Watch the odometer. 

You bought the car to drive it, sure, but keep in mind that higher mileage on the odometer can cause vehicle depreciation even if your N Charlotte Toyota is in the best of shape. Don’t make unnecessary trips if you don’t have to and if your mileage is climbing, consider carpooling. 

 

Tip 4: Stay on top of routine car maintenance. 

A car that has been well maintained automatically holds more value - and fights vehicle depreciation more - than a car with a spotty service record. After all, a car that’s been on a routine car care schedule is usually more reliable and less likely to have future problems, thus keeping your car’s value high. 

 

Now that you understand vehicle depreciation, you can get behind the wheel… so why not visit Toyota of N Charlotte? We’ve conveniently located just off I-77 at exit 23 in Huntersville and we’re open seven days a week. Call (704) 875-9199 to schedule your test drive! 

 

Return Home

 

Copyright 2019 WBTV. All rights reserved.