5 ways to fight vehicle depreciation

5 ways to fight vehicle depreciation 

Is vehicle depreciation something that you REALLY need to be worried about? As a car owner, yes. This aspect of vehicle ownership can impact just how much bang you get for your buck in the future when you decide to sell or trade in, so it's important to consider from the moment you sign the dotted line.

What is vehicle depreciation? 

Before you can learn how to fight vehicle depreciation, however, you need to know what it is. Basically, every car depreciates over time (and there's no getting around it). Most cars lose between 15-35% of their value in their first year of ownership and up to 50% of their value by year 3. However, there are certain steps you can take to slow vehicle depreciation and keep your car's value high. Check out our Orlando Toyota tips.

How can you combat vehicle depreciation?

Tip #1: Before you shop, do research. 
Did you know that some makes and models - like Toyotas in general - hold value much better than their counterparts of other makes? It's true, and you should do research before you buy to see which makes will automatically hold value better than others so you have a running start from the moment you sign the dotted line.

Tip #2: Think about what future buyers will value. 
Additionally, while in your shopping process, think about what features future buyers will value. Fuel efficiency is always a big one, and neutral paint colors seem to be more desirable to buyers than bright colors or crazy paint schemes. Additionally, smaller and more affordable vehicles are more coveted than larger, more expensive cars, so they face less vehicle depreciation.

Tip #3: Buy for the area of the country in which you live. 
If you live in a part of the country that's mountainous or find yourself facing snow and ice on the regular, all-wheel drive is a pretty desirable feature, even if it costs a little bit more. Conversely, all-wheel drive isn't a must-have in flat Florida where we rarely see harsh winter weather. Buy a vehicle suited for your environment!

Tip #4: Keep an eye on your car's mileage. 
You bought the car to drive it, but you also need to keep an eye on the mileage. You don't want it to get TOO high, as this accelerates vehicle depreciation. Our Orlando Toyota specialists recommend avoiding unnecessary trips when you can help it and even considering the carpool lane when you can to keep mileage at a reasonable number. 

Tip #5: Stick to a strict auto service schedule. 
A vehicle that is well-maintained depreciates a lot more slowly than a car that has an unreliable service record. Stick to a schedule (our Orlando Toyota service techs can get you on one) for things like tire rotations, brake service, oil changes, fluids, and batteries, and take care of repairs right away.

Want more tips or feel like you need to get on an auto service schedule? Call Toyota of Orlando today at (407) 298-0001!