When you buy a new vehicle, it begins to lose value almost immediately, with depreciation rates averaging around 20% as soon as it leaves the lot, and up to 40% within the first five years. However, there are several strategies you can follow to minimize this depreciation.

Performing regular maintenance is key to maintaining your car’s condition and keeping its value intact. Staying consistent with oil changes, tire rotations, and routine inspections is a critical part of maintaining your car. Taking your mechanic’s advice can also slow the rate of value loss.

In addition, maintaining a detailed log of all service records, including dates, mileage, and repairs, can increase your car’s appeal. This history not only demonstrates that the vehicle has been well-maintained but can also raise its resale value.

Since buying a car is a big investment, it’s smart to think about its resale or trade-in value early on. Partnering with a reliable car auction company can give you insights into your car’s current value and help you secure the best deal when it’s time to sell or trade.

For more tips on preserving and boosting your car’s value, check out the infographic below.