New Car Resale Value
The subject of new car resale value is very often blown completely out of proportion.
Enquiring about the resale value of a new car before you buy it is a bit like weighing yourself now in order to determine what your bodyweight will be four, five, six or ten years from now…
…yes we have the past to go by but ultimately what we eat, how we look after ourselves, and how much we exercise will have the ultimate say in what our weight will be in the future…
In other words, car resale value is very dependent on the condition of the car down the track, the kilometres travelled, and most importantly, when the car is actually to be re-sold.
It’s true that some cars are worse than others at depreciating but ultimately it’s wisest to consider, cost-of-ownership, that is, running costs such as petrol consumption, maintenance and insurance before resale value – these things that can cost the most over time.
Cars are not assets, or investments (contrary to what some salespeople may say) they are of course a liability. ALL cars decrease in value apart from some very rare classics.
The question is not: “What will the resale value in X years?” – the questions are:
1. How long will I be driving/owning this car?
2. Is this the car I’ll be happy owning and driving for this period of time?
And 3. Can I afford the running costs (and payments) over this time period.
By and large, if a car is cheaper now than a competitive model (when new), it will sell for proportionally less later. Ultimately, time, distanced travelled and condition will have the predominant effect on resale value.
At Any New Car our buying power is saving new car buyers $1000’s everyday on new Honda, Holden, Mazda, Subaru, BMW, Toyota – absolutely any new car.