What can you do to limit depreciation?

We all know that as soon as we’ve driven our car off the forecourt we’ve lost money, but what can we do to reduce the amount of money we lose when we come to sell our cars?

Well this can start before you’ve even bought your car by making the best choice. Even the colour is important. The more wild the colour, the less easy it will be to sell. Car colours go out of fashion fairly fast, so stick to black, white or silver for the best chance of selling. Also check out the make of car before you buy. Some cars have a good reputation for having a long life and for being low maintenance. People will be more inclined to spend their money on a car like this. The features of your car will also make it more appealing to future buyers. Air conditioning, anti-lock brakes and cruise control are all factors that will help to sell your car. Also give some thought to fuel economy. The more economical it is, the more people will want to buy it as it won’t cost them a fortune to run.

Once you’ve bought your car, it’s important to keep it in good condition, and it’s also important to keep evidence of every job that is done on the car so keep all your receipts. Get it serviced regularly and this will add value to your car. Keep it clean inside and out, and get those little repair jobs done.

Photo credit: By Jrodsvt1 (Own work) [Public domain], via Wikimedia Commons