There’s no doubt that car depreciation is one of those facts of life. However, with a bit of thought about the vehicle you choose and the way you fund it and look after it, you can reduce the impact of depreciation if this is an important factor for you.
When the time comes to sell or part-exchange your vehicle, you’ll want to get as much money for it as possible and that means maintaining the value of the vehicle. This can be tough with modern day living where vehicles are in daily use.
Choosing to buy a new vehicle with excellent build quality and a longer manufacturer’s warranty is a good start. The JCB Group offers brands that are renowned for their quality and with warranties ranging from 3 to 7 years in duration. On selling these vehicles, the remainder of the warranty goes to the new owner, which is an attractive selling point.
Opting for a model with a higher trim level is also useful.If a car has air conditioning and satellite navigation built in as standard, this will be a desirable feature when it comes to selling on, as will leather upholstery and advanced infotainment.
If you regularly do a high mileage in your vehicle, consider funding it in a different way other than outright purchase. Personal Contract Hire and Personal Contract Purchase both help to manage the mileage and in the case of Contract Hire, you don’t own the vehicle so don’t need to worry about depreciation.
A stitch in time can save nine, and it can also save you money when selling on your vehicle. Keeping up with recommended servicing and maintenance and generally caring for your vehicle with sensible driving will help to maintain its performance and therefore its value. If you suspect something is wrong then it is better to get it checked out earlier rather than waiting for it to get worse. If you are between services, ask for a free or low cost vehicle health check or an investigation by a qualified Technician to double check the wear and tear on key components. Make sure your service book is stamped or validated to keep the warranty current.
Even if you don’t drive your vehicle very often, this can have an impact on the quality of your vehicle such as affecting the battery, tyres, paintwork and fluids, so don’t skip a service when the time comes.
All JCB Group branches keep computerised records of every piece of work or service item carried out. This is useful when it comes time to re-sell as it proves that the vehicle has been serviced and maintained in line with the manufacturer’s instructions, using only genuine parts and recommended fluids.
You can also ask for paintwork and upholstery protection products to be applied on taking delivery of your vehicle. For an additional charge these products can be applied and will protect the exterior paintwork and interior upholstery, keeping them in better condition and protecting them from environmental hazards and stains.
Driving safely reduces the chance of the vehicle developing mechanical issues and most importantly, reduces the chance of collisions and accidents. Without needing to explain further, this will help your car maintain its best value.
The amount of time we spend behind the wheel and how we drive play a major role in how the car devalues over time. By researching car performances and specifically depreciation rates before you choose a vehicle will also help. Just like people, not all cars age with the same grace and it is down to you to find one that suits your needs and does not reduce in value quickly. This will include looking at even mundane aspects of vehicles such as colour.
The JCB Group offers a wide selection of new and used cars of reliable brands, designed to suit you and your needs perfectly. We also offer Service, MOT, Parts & Repair services, ideal for ensuring that your car is always at its best. Need more info on reducing the impact of depreciation? Speak to a member of the JCB Group for more information or for help in looking for your next vehicle!