Depreciation becomes the enemy once your vehicle leaves the dealership. It eats up the biggest chunk of your motoring budget and it’s costlier than fuel costs, repairs, or insurance. In order to maximise the resale value of your car, you need to choose one that will actually hold its value.
For those who can’t afford luxury brands, purchasing Asian brands is a practical alternative. Recommended picks would be Toyota, Mazda, or Subaru. You may have to shell out extra, but rest assured that you will reap the benefits in the long run.
“Toyota has a really strong used-car program. Mazda has the right products for this market at the moment, and cars that are desirable when they are new are also desirable as second-hand cars,” says Santo Amoddio, chief executive of Glass’s Dealers Guide.
“Subaru had a rough patch a couple of years ago but they have lifted their game. The Forester, for example, is very strong on used-car values. That’s partly because a lot are retained by their original owners and passed down through the family.”
Glass also emphasizes the importance of choosing the right options that can increase the value when it’s time to trade-in your car.
“Bluetooth, USB ports, satnav, ESP, rear-view camera and lots of airbags are now widely available in affordable new cars. That’s what people are looking for and the result has been a steady and gradual decline in used-car values.”
“Over the next couple of years that will naturally increase. If a car has those sorts of things in it then it’s very desirable as a second-hand car.”
Once you have purchased your preferred vehicle, make sure that you take good care of it to maximise its resale value. Take your car to Roverworks, Canberra’s top choice for automotive repairs, parts and maintenance. Our mechanic team specialises in Land Rover and Range Rover models, in addition to servicing of 4x4s, off-road and other car models. Visit our shop for a quick check-up, Toyota consultation, Mazda repairs, or maintenance and parts.