Car Depreciation: Six Ways you’re Wiping the Value Off your Car…

Car Depreciation

If you’re planning on selling your vehicle in the future and are looking for a fair return, it’s important to pay attention to car depreciation. Many things can damage the quality of your car and knock money off the price tag, so here are six ways you could be wiping the value off your vehicle.

1 - Smoking in your vehicle

Believe it or not, smoking in your car can decrease its value by a staggering £2000. This is because a car that’s smoked in has a lingering smell that’s often off-putting to buyers. What’s more, smoking can damage interior fabrics so much that they can look dull or discoloured and may even need to be stripped out and replaced before resale – which all costs money.

2 - Taking your dog for a ride

Pet hair is not attractive to a potential buyer looking at the interior of your vehicle. Like smoking, that offensive damp dog odour can also get into the upholstery leaving behind a lingering stench. So, if you regularly take your dog out in your vehicle, be prepared to get your car deep cleaned before putting it up for resale – or think about lowering the price.

3 - Using poor-quality part replacements

Many car owners make the mistake of replacing manufacturer-approved car parts with those of a much poorer quality – perhaps after finding them cheaply online or being convinced to do so by a garage. This is a bad idea as using second-hand or non-approved parts can lead to problems down the line and devaluate the vehicle when you come to sell it.

What’s more, using parts that haven’t been approved by your manufacturer could affect your insurance policy, so be sure to read the fine print before going through with any repairs.

4 - Painting it the wrong colour

A vehicle respray can be a good way to give your car a personal touch. But it might not work in your favour if you put it up for sale, especially if it’s a rather garish shade. Colours such as white, black or silver tend to maintain their value best while red, green and yellow cars are not so popular in the wider market. If you do want to change the colour of your vehicle, make sure it’s a hue that can be found within the model range to prevent it from standing out like a sore thumb.

5 - Unnecessary car usage

Whether you drive your car when you could walk instead or take routes that damage the underside of your vehicle, unnecessary car usage can depreciate your vehicle’s value. It can also add mileage which is something all potential buyers take into consideration. That said; leaving your car in the garage for months on end isn’t practical either as your vehicle may get damp or deteriorate from lack of use.

6 - Skipping regular maintenance

Being a responsible car owner means having your car serviced regularly and carrying out any necessary maintenance. Ignoring problems such as unusual rattling sounds can lead to bigger concerns which are expensive to fix. Issues such as rust can also affect the aesthetics of your vehicle making it worth less to buyers.

When it comes to buying a car, many people choose professional used car dealerships like Carwise Group over private sellers. This is because all cars are thoroughly safety checked and are available with all the relevant documentation. Browse the Carwise Group listings today and book a test drive at locations in Harlow or Maidstone.