Are you wondering what you can do to stop your car depreciating? Here are all the factors that can affect the price of your car:

Regardless of what vehicle you buy, depreciation will always affect it. There are some factors that can drastically affect the amount that your car loses in value, but similarly there are things you can do that will help retain value.

To properly understand depreciation, you need to know what factors have the most affect. Here is a simple and easy summary:

Supply and Demand

Quite simply, if your vehicle is in high demand then you can expect it to retain value relatively well. It is hard to predict whether or not your car will be in demand, but if you are lucky enough to purchase one that is on trend then you’ll suffer much less depreciation. Similarly, if there is very little demand for your car then you can expect its value to drop dramatically.

Build Quality

Certain manufacturers have developed a reputation for building their cars with exceptional quality and delivering unparalleled reliability. In having this reputation, the second hand price tags remain high as people are more willing to spend their hard earned cash on these models, as they know that they are buying quality.

Running Costs

Cars with cheap running costs will always retain their value better than models that are far more pricy. By doing a little bit of research before purchasing the car, you will be able to find out just how much your car will cost to run – the lower this figure the better the value it is likely to retain.

Vehicle Age

The older your vehicle is, the less it will be worth – with the exception of classic cars. There are three specific age markers that will see the value drop significantly and these are after 1 year, 3 years and 8 years. While these figures aren’t written in stone, there is a very obvious trend that happens at these milestones, regardless of manufacturer or model.

Mileage

More miles, more problems. The more problems your vehicle is likely to suffer the less people will want to pay for your car. Similarly to age, you will find that certain mileages will see a significant depreciation, although these points do tend to change between models, so do your research before selling.

General Condition

Dinks, dents and scratches may just be minor cosmetic issues, but they can seriously bring down the price you’re likely to receive for your car. Make sure that you keep your car in good condition and clean it regularly to protect the paintwork and spot damage before it worsens. If you have got minor body damage to your vehicle, then it is worth getting a quote to repair the damage to see if that makes more financial sense than selling at a loss.

Servicing

Having a full service history helps to keep your vehicle’s price up, as this shows that it has been well looked after. Even if you’ve missed a few services, having a part service history is better than having none at all. Don’t be put off by the cost of servicing, as you will get the value back when it is time to sell your car.

All of these are factors that will affect the depreciation of your car, many of which you can take an active stance in combatting. When it comes to selling your car, make sure you really are getting the best price for your vehicle.

About the Author – Cashpoint4Cars is a friendly and helpful car buying service, who aim to give you the best possible price for your vehicle with no hidden costs. We will buy absolutely any vehicle, regardless of condition, service history, age or mileage – so if you’re looking to sell your car quick, visit Cashpoint4Cars today.