How to keep the car's value the best?

Most things in life depreciate. Things you buy lose value right out of the box until they are worth nothing. Most cars lose 30-40% of their value in the first 3 years of ownership, with the exception of supercars.

In reality, almost all cars will depreciate in value and have little chance of becoming antiques and making a profit for the owner.

That is a real financial shock because in Vietnam, consumers still consider cars as an asset, not a liability. Therefore, the trend of "playing it safe and dressing well" makes models like Toyota Vios or Innova sell very well thanks to brand value as well as other factors.

Let's take a look at some ways to help your car retain its value as much as possible:

1. Regular maintenance

The first rule that every car owner should know is to take care of their car. Most car manufacturers will have an optional maintenance schedule that car owners should pay attention to. Regular maintenance at the car manufacturer reduces the risk of breakdowns and increases the confidence of the car when it is sold.

A well-maintained car will give buyers more confidence and the car will command a higher price.

2. Paint protection

Paint protection is also a necessary option when owning a car. This prevents the paint from fading when exposed to sunlight and reduces the possibility of scratches on the car. Along with that, the shiny appearance will make the car more attractive in the eyes of buyers, accompanied by a higher selling price.

Nowadays, there are many ways to protect the paint layer including: ceramic coating, protective film or paper.

3. Distance calculated by year

Any car serves the purpose of the owner and the higher the number of kilometers traveled in a year, the more the car depreciates. On average, a car travels from 15 to 20 thousand kilometers per year, if it travels less than this, your car will be very valuable.

4. Don't buy luxury cars

Luxury cars are often very expensive and also depreciate quickly. A car worth tens of billions will lose 10-20% of its value in the first year of use, and that percentage could be used to buy a very good popular car.

In addition, luxury cars are not popular in the used car market, which makes these models difficult to sell due to higher discount fees. In addition, the cost of insurance for a luxury car is also higher than that of a common car to keep the car always protected at the highest level.

5. Brand

Luxury cars can lose value quickly, but at least you can always look at the brands with the best brand value. Usually, the most popular and brand value cars tend to retain their value the most, typically Toyota in Vietnam.

6. Keep your car looking new

Regular car washing and polishing will help keep the car's appearance looking like new. In addition, interior care is also necessary to do periodically. The more beautiful the car is, the less depreciation it will have. During use, if there is major damage, it will also affect the value of the car such as accidents, water hammer, etc.

Finally, when you want to sell or buy a used car, research, consult with experienced people and monitor the market to be able to sell the car for the best price.