About to Buy a New Car? Don’t Let Depreciation Get it!

About to Buy a New Car? Don’t Let Depreciation Get it!
October 5, 2017 allcredit

About to Buy a New Car? Don’t Let Depreciation Get it!

  • Thank you Cheryl, I love my new car and it’s so easy to pay for my petrol and servicing using my allcredit fuel card.  Ill never buy a car any other way again.
    Elena, WA
  • allcredit was easier to deal with and much cheaper than my salary packaging company
    Ross, VIC
  • Cheryl provided me with amazing service and explained everything to me in a way that was easy to understand. I would not hesitate to recommend allcredit to anyone.
    James, NSW
  • Thank you Cheryl, I love my new car and it’s so easy to pay for my petrol and servicing using my allcredit fuel card.  Ill never buy a car any other way again.
    Elena, WA
  • Cheryl provided me with amazing service and explained everything to me in a way that was easy to understand.  I would not hesitate to recommend allcredit to anyone.
    James, NSW
  • Allcredit was easier to deal with and much cheaper than my salary packaging company
    Ross, VIC

Just about to be handed the set of keys? While you may be over the moon with your brand new car, unfortunately the car is probably dramatically decreasing in value as the ink dries- and your money is up in flames. On average, cars depreciate by around 14% per year over the first three years of ownership, then 8% thereafter. Luckily, there are a few important tips to slow the depreciation, so you can then expect to fetch a higher price if you choose to resell.

Research the market

Take the time to do your research,and learnabout the varying values of makes and models, and which ones will hold their value against depreciation- this information could be critical in finally deciding on your new car. Even something as simple as the paint colour and transmission can be a major factor. Research into Aussie colour preferences have shown we enjoy a rather monochromatic car, with silver taking out top spot over black and white. Not to mention Aussies would prefer a vehicle with automatic transmission, over manual. Social trends like these will play a huge role in determining the extended value of your car, so a little forward thinking and interest in the electric car trend would also go a long way.

Doctors notes

If you get any work or maintenance done on your car, store the receipts away somewhere safe, as a record for potential buyers. They’ll be reassured by your diligent care and record keeping, and more likely to believe your car has been well cared for- therefore more likely to make extra negotiations for your asking price. It’s also a great idea to try and keep the car in the best condition possible, so ensure any repairwork that the car requires is done, such as small dents and scratches.

Perfect timing

Car dealers need to be out with old to get in with the new, and remembering this could cut your bottom line. Head in when the calendar year is drawing to a close, or just before a new model is about to arrive, and you’ll be surprised just what kind of allowances the dealer can make when he’s trying to clear out the yard.

If you’re in the market for a new car, and you need some more tips like these to ensure you get the best possible deal, talk to our friendly team about how we can help. Allcredit can find the best finance deals for you, including Perth’s most efficient novated lease services. Our novated lease options are the perfect way to get your dream car while saving you money, and our novated lease calculator can show you how it all works.

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When you take out you allcredit Novated Lease you will be provided an allcredit Motorpass card which is accepted at almost every fuel outlet in Australia.

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