6 Ways on How to Lessen Your Car’s Depreciation
A car’s depreciation could be a challenge to deal with. If you tend to purchase a car for P1 million when it first came out, don’t be surprised if it will go down by as much as P200,000 in the next year. For the automotive industry, cars don’t usually appreciate in value, unless it is something historic or something similarly valuable in nature. Cars that you use will usually depreciate constantly, furthermore as you use it. Now, how do you lessen a car’s depreciation? Here are some tips that could maximize the value of your car for the next years to come.
Always have the engine checked
Prevention is always better than cure and it applies to the use of cars. When you have a car being used on a regular basis, you could always expect that it will have some traces of wear and tear. Some are going to be minor, while some are major. There are major problems that could easily be prevented with the help of a mechanic.
Know the road well
In the Philippines, it is a common problem that motorists face roads that are not really fixed. Could you imagine driving through EDSA? How many bumps could you experience driving for an hour through EDSA? This is a problem for all motorists. If you could determine roads that have a more decent condition, it is highly possible that you lessen the wear and tear on your car.
Have your own car garage
Do you park your car on the street? Not only is your car going to be exposed to damages caused by vandals, could you imagine the damage that the sun and the rain and all the elements could do to your car? As a rule of thumb, whenever you purchase a car, you should always have a place where you could park it. And when it comes to parking your vehicle, you want something that is covered.
The attitude of the driver also plays a huge role in how cars are going to depreciate. Are you the type of driver who is driving aggressively on the road? If yes, then most likely, you’ll get scratches and more wear and tear to your car’s engine as you pedal to the metal. As a rule of thumb, despite the wild wild west scenario in Philippine highways, it helps if you drive defensively.
If you’ve had your car for a couple of years, you will notice signs of rust on your vehicle. You shouldn’t let corrosion advance the depreciation of your car. Repainting the vehicle is a good move that you could make.
Another great way to decrease the depreciation of your vehicle is by getting the right insurance policy. You may be asking how? One of the reasons why problems worsen on cars is because of the lack of funds by the car owner. When you have your car insured, damages from accidents could be fixed without you picking your money from your pocket. If you want to find the right insurance for you, you can compare prices from iChoose.ph.
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