A consideration that is widely overlooked when buying a car is its resale value. An automobile is a means of transportation and enjoyment, but it is also an investment. You may want to sell your recent purchase yourself down the road. When that time comes, you're going to want to get the highest return on your investment possible. On average, American drivers keep their cars for eight years before selling it or trading it in. You want the car that is going to depreciate the least and give you the highest resale value. While resale value cannot be precisely predicted, it can be estimated at the time of purchase. When you are visiting our Montclair car dealership, talk to the sales team at Geneva Motors about the estimated resale value of your purchase.
The first step drivers can take towards maintaining resale value is to keep your vehicle in excellent condition. As a CarFax Certified Dealer, you know you are buying a car that is mechanically sound. From taking care of the paint to regular service check-ups, maintaining your vehicle and safeguarding the upholstery from stains is a great way to maintain resale value. Opting for available options and upgrades is another way to increase the value of your vehicle. Whether it's at the time of purchase or down the road, installing an improved sound system or a custom lift kit can also increase resale value. Paint color is not always thought about at the time of purchase. While colors such as black, white, silver, and red may blend into the parking lot, not everyone wants a bolder color.
Other elements to look at when making your purchase are the residual value or retained value. On average a car depreciates by 35% after its first five years. Some auto makes, however, do not depreciate as dramatically due to popularity or brand perception. Brands such as Honda and Toyota are known for their durability, which gives them a higher residual value than less popular models. Our sales associates are here to point out the features that will add to the resale value of your next car. We have an impressive selection of used cars for sale and offer fair market value for your trade-in. After you maintain the resale value of your car, consider trading it in here at Geneva Motors when you are ready for an upgrade.