Car Depreciation

9 Oct 2017 | NEWS

Understanding Car Depreciation

How much your car depreciates over time depends on different factors, such as age, type of the car and even month.
Here we help you learn about depreciation and make smarter decisions when purchasing your next car.

Car Depreciation Facts

  • A new car loses value as soon as you drive off the forecourt and by the end of the first year will have lost around 40% of its value
  • If you do 10000 miles a year the average car will have lost around 60% of its value by the end of its third year
  • The more miles you drive the more value the car will lose
  • Fuel efficient cars tend to depreciate more slowly
  • Brand new models may depreciate more slowly

How to minimise your car’s depreciation

  • Keep the car in good and clean condition
  • Try to keep the mileage down
  • Keep your car regularly serviced by a dealer of that franchise, particularly until the car is at least 5 years old
  • Repair any damage and faults immediately
  • Choose a vehicle that depreciates at a slower rate
  • Sell your car before its replacement arrives in the showrooms
  • Sell at the right time of year – for example, convertibles in spring/summer and 4x4s in the autumn/winter

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