Buying an automobile has its ups and downs. A new car means excitement. It also may mean making payments and trading in a car that has some good memories. Or it could be goodbye to that never-was-much-good moving money pit. If you want to avoid that kind of purchase again, then you should look into your new cars estimated resale value. Resale value may seem a strange choice to consider when buying a new car. However, reputation and reliability are factors that analysts look at when determining future resale value. For years, the resale value of the BMW 3 series has always been high. How does this get figured out? It’s mostly due to depreciation. Most cars really do lose about 20% of their value when driven off the lot. You’ll want the depreciation your car gets to be better than most others after that.
What Causes My Car to Depreciate
Two things to help reduce depreciation would be getting a model that has recently been redesigned. Cars with designs four or five years old many times will have a bad rep by the time it goes up for resale. Another factor is mileage. A good idea is to try and limit your miles driven. That is the single best way to help a car keep its value. Being a stickler for regularly scheduled maintenance like oil changes and tune-ups will also go a long way to retaining value for your new car.
You should try to keep the car as close to its original looks, too. Fancy pinstripes and other decals only hurt a car at resale time. You may love your personal touches but others won’t.
Other Vehicle Resale Value Factors
The type of car you buy matters too. Subcompacts and those that may be sold in quantity to corporations usually get a hit in resale value. There will be too many available at the same time since a lot of these will be flooding the market five years from now when you might be replacing your vehicle.
More expensive vehicles like Mercedes and BMW for instance usually have models high on the resale value list. SUVs and crossovers tend to do better, but it doesn’t have to be big. Mini Coopers have made the list in the past, too, giving English cars a boost in this area.
Keeping your vehicle valuable and running smoothly is what you can rely on from Classic Motor Sports. They’ll keep your European car in top condition from the day you buy it until the day of resale. Keep your regularly scheduled maintenance with our certified BMW and Mercedes technicians and save some money avoiding the dealership garage while still keeping your car’s resale value high.
Edited by Justin Vorhees
BMW, Mercedes & Mini Cooper Service & Repair in Mukilteo