By now you’ve probably done your homework into what is a reasonable price for the new car that you have your eyes on. While many motorists focus on the initial purchase price of a car, it’s also important to consider what its resell value might be.
One of the biggest factors shaping the resale value of a car is depreciation. As soon as it departs the showroom floor, you’re already staring at a haircut of some margin. By the end of its ‘useful’ life, the car will have depreciated significantly, even if it is still in good condition. Nonetheless, there are certain motoring habits that can hasten the depreciation of your new car. Let’s take a closer look.
Neglecting scheduled service intervals
While the added costs of scheduled services and repairs are never ideal, these measures are designed to keep your car in top shape. If you begin to neglect these aspects of vehicle ownership, small gremlins under the bonnet can potentially turn into nightmares at a later stage.
When it comes to selling your car in the future, service records will also go some way towards giving prospective buyers some peace of mind that you have taken care of the vehicle. This will afford you greater bargaining power than if you had failed to stay on top of preventative maintenance and/or failed to attain up-to-date service records.
Driving aggressively on the road
Wear and tear is a normal part of owning a car, however, it can be exacerbated when you consistently drive in an aggressive manner on the roads. One of the worst habits you can build up is ‘redlining’. This refers to the action of revving the car’s engine up to the redline. Although there are unlikely to be any long-term implications if this happens once every so often, if it happens consistently then the built-up pressure and stress over time can weigh on the engine’s longevity.
Another habit that many drivers need to shake is ‘hard’ braking. When you brake hard you put the brake system under more strain, thus degrading its condition. Similarly, you can also wear down the tyres of the car and potentially even the car’s drive shaft.
Not taking care of the vehicle
Presentation can make all the difference when you try to sell your car. That’s why it is important to take care of its condition while it is in your possession. Inside the car, make sure you treat leather with appropriate conditioner to preserve its condition. Arguably more important is the exterior. If you overlook preventative care, you may allow dirt and rust to accumulate and strip the car’s paint. This is especially important if you live near the beach, where the presence of salt may contribute to corrosion. Both of these facets will diminish the value of your car at a rapid rate.
