Should you be worried about vehicle depreciation?

Should you be worried about vehicle depreciation?

trade in tips

"Sponsored Article by Toyota of Orlando"

When it comes to vehicle depreciation, should you be worried? In one word - yes. Everyone has to face depreciation regarding their car - it’s a normal process for every vehicle - but luckily, the more you understand it, the better you can combat it! Toyota of Orlando is here with tips to help you keep your vehicle’s resale value high and fight depreciation.

What is vehicle depreciation?

Before you can combat it, you need to understand exactly what vehicle depreciation is. Basically, cars lose value over time - it’s inevitable because of wear and tear. In fact, most cars lose between 15-35% of value in their first year of ownership, and can lose up to 50% in the following two years. This means when you turn around to sell your car, you’ll be getting less bang for your buck and you definitely won’t get what you paid for it.
Like we said, vehicle depreciation is inevitable but luckily, there ARE things you can do to combat and slow it. Check out our Orlando Toyota tips below!
Tip #1: Research before you buy.
Did you know that some makes retain value better than others? Toyota, in fact, is one of the most renowned brands for holding its resale value so you can get more money for your ride when you sell or trade-in down the road. Do your research before you buy to find out which makes and models have the slowest vehicle depreciation.
Tip #2: Consider your future buyer.
What do you think your future buyer would appreciate when purchasing your car? You should think about things like paint color - neutrals tend to sell best - and fuel efficiency, which is always a desired feature. Additionally, large and expensive vehicles tend to depreciate more quickly than their smaller and more affordable counterparts because they don’t have as much demand in the market. And think about the region where you live - while all-wheel drive might be a desirable feature in snowy, icy climates, it’s not a must-have in Orlando.
Tip #3: Keep an eye on your mileage.
We know, we know - you bought the car so you could drive it. Drive away! But keep an eye on the mileage. The higher you go, the more vehicle depreciation and value loss you’ll face. Be smart with your miles and don’t unnecessarily pile them on if you can help it.
Tip #4: Never skip routine car maintenance.
It can be annoying to keep your Orlando Toyota on a routine auto service schedule - we get it. But it’s essential if you want to fight vehicle depreciation and keep your car’s value high. Have our Toyota service techs set you up on a schedule for all routine recommended maintenance, and also make sure that you stay on top of repairs and other services so your car stays in like-new condition both inside and out.

Toyota of Orlando tips to keep value high

Want more tips or want to get your ride on a routine car care schedule? Call our Orlando Toyota service center today at (407) 298-0001. We’ll get you on the books!