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Top 10 depreciation facts: part one

Yes, we have written about depreciation in previous blogs but we thought that it would be a great idea to get some of the facts – from an automotive insider’s point of view – out in the open.

Picture depicting vehicle depreciation
What we are about to impart is not biased towards leasing – the following are just industry facts that will hopefully help you make a truly informed decision when it comes to making your next vehicle choice.

1. Higher mileage equals higher losses

OK, so this may seem like an obvious statement, but no matter whether you lease or buy your car, the more miles you clock up, the less your car will be worth, so you will lose money either way.

2. Take note of equipment levels

Especially with premium cars, equipment DOES count. Don’t scrimp on the specification or trim level if you don’t have to – if you come to sell a very basic car on, it will be less desirable than one that has a more acceptable level of equipment. In fact, you could end up saving money in the long term by spending a little more initially.

3. Take care getting the specification right

If you choose to buy your car, remember the audience that you will be selling it on to. You may like pink paintwork, but how many others will? And is it really a good idea not to put Bluetooth in a saloon car if it isn’t standard? Or alloy wheels on an otherwise-sporty looking Supermini?

4. Keep on top of the game

What is fashionable right now also applies to cars – for example, in the UK, the SUV market (mini in particular) is booming, as is the Supermini market. Buying into a popular sector could be a wise move indeed.

5. Sporty cars and large SUVS

If you aren’t looking for a practical car, and you want a sports car, don’t panic. The same goes if you want to buy a big SUV. Just choose wisely and take note of the current best sellers. Not everyone wants a Supermini or a Compact SUV so as long as you take our advice and choose wisely, you should still be able to sell it on without a hitch.

Summary – depreciation facts part one:

You can’t beat depreciation, no matter what you do. Of course, leasing protects you from it and in many cases, you lose less by leasing than going the ownership route, but this is your choice.

Take a browse on our site and make the comparison – you may be surprised when you work out the cost savings that you could make, as well as the benefit of low monthly outgoings!

Let us know your thoughts on Twitter and watch out for part two, coming soon!

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