Maximizing Car Resale Value

Maximizing Car Resale Value

by admin, June 29, 2021

Maximizing Car Resale Value

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We all know the saying, “a car depreciates as soon as it is driven off the lot”. And to be fair, that is the truth. Once you have signed those papers and driven off the lot your car is not worth as much as it was before. This harsh reality is why getting a car with a potentially high resale value puts a lot of people at ease. Today we are going to give tips on how to maximize your car’s resale value.

The first thing you can do is choose a vehicle that has a historically high resale value. For luxury cars, Porsche is a good one. Porsche has topped all luxury car brands in terms of resale value five times according to Kelley Blue Book. While it is true that all cars lose value, not all cars depreciate at the same rate. Many brands, like Porsche, have historically good resale values. Do your research by looking into the models, brands, and body styles that tend to retain their value best.

The second thing you can do is keep your mileage down. With every mile driven, the risk of failure increases. If you can help it, only drive when necessary. For example, if you are taking a lengthy road trip, it might be worthwhile to get a rental car instead. Anything that you can do to reduce the amount of miles you put on your car can and will minimize vehicle’s depreciation over the long haul.

The third and arguably the best thing you can do to maximize your car’s resale value is to make sure that everything under the hood gets checked out on a regular basis. If you can keep a detailed record of maintenance and repairs done on your car, your chances of landing a buyer will skyrocket. Realize that shoppers want a reliable option and if you can prove that on paper, it will be hard for buyers to negotiate for a lower price.

You cannot avoid a depreciating car but you can minimize it by doing these three things listed above. For more tips on how to maximize your car’s resale value stay updated here on our monthly blog.