Do cars hold their value in Australia?

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When you are thinking of buying a new car, there are many factors that you will have to consider so that you will get the best return on the investment but the most important factor is the rate of depreciation of the car. This is especially important because you lose majority of the price of the car in depreciation that any other running costs when you are using the car. Therefore, it is important for you to find out do cars hold their value in Australia before you move ahead with your car purchase decision. This is the best way of saving thousands of dollars because when you buy the right car, you will not have to pay a high charge for its depreciation.  Before you google sell my car, make sure you consider the depreciation & if you really want to sell!

The cost of depreciation exceeds the cost of insurance, servicing and fuel which makes it even more important for you to choose a car carefully so that it will hold its value. You should have the potential resale value of the car on your mind when you are buying a new car. You need to look for a car with higher residual value so that you will own a car for a longer period of time before selling it off at its scrap value. Most importantly, you should stress on the importance of buying small cars because it is more popular among the used car buyers. This will help you get more value for your car as compared to when you own a sports car or SUV where the value will depreciate more quickly.

If you want to maximize the trade in value of your car, you should make sure that you are buying a brand that is known for its performance. This will help you fetch more money from the used car buyer and you will get less depreciation on the total value of the car.

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