Key Factors of Car Depreciation
Category : Cash For Cars
Well, a lawful of reasons doesn’t sound courteous as anon as you start driving your brand new car the day you take it off from the dealer’s acreage. Grievously, the bitter truth of car depreciation is that the day you start driving your new car it becomes worthless of money that you just spend on it, actually a lot less.
Indeed, the fact of car depreciation is the biggest expenses that you will acquire during your first five years of buying a new car. Yes, you heard it right, it doesn’t matter how well you take of your car, it will still eat the precious value of the car at the time of resale.
So the main question here arises is how to maintain the value of the car or how to get the best value of the car at the time of the resale. To guide you through all the stages of car depreciation we at top cash for cars have gathered all the points here in this article for you people sitting outside with a dilemma in mind about car depreciation.
Car depreciation is not always allied with the make of the car but also mutate with the quality and the model of the car. And in this gizmo about car depreciation, we will provide you all the tips and rules that you should follow while selling and buying the car to minimize the financial loss.
Well, the larger the size of the car that greater the value it will lose over time. This situation arises because of the fact that bigger cars cost more at the time of the buy and lose its value at the time of the selling. So, buy and sell your car carefully.
The fact about the new cars is that they lose the value faster than old cars, the second you drive it off the showroom and in almost 5 years it losses 63% of its original value.
Buy used cars:
According to a legatee aspect, it is perfectly fine to lose 25% in the first year, but for the buyers who want to buy a used car come out as an opportunity to get a car that is still new with the warranty but without the price tag.
Time to Sell:
Always sell your car at the right time simultaneously following your requirements because there are a number of times that turns out to be better days than others and they are:
During the first year:
If you feel like selling your car during the first year then go for it because then you lose only 11% than 25% that you are going to lose at the end of the first year.
After 3 years:
After one year your car will lose 11% of its initial value and if you are planning to upgrade your garage by having a new car after 3 years your old car will have a value that will be more than half of what you paid initially.
So make a reasonable contribution while buying your next car by selling your car with top cash for cars.
Consequently, we at top cash for cars will give you the best price even after the car depreciation. So, call us today and get a free quote for your car which will clear all your dilemmas.