Counting kilometres and Covid-19: What factors contribute to the depreciation of a car’s value? – The National

Counting kilometres and Covid-19: What factors contribute to the depreciation of a car’s value? – The National

It's no secret that the biggest depreciation hit to a new car - barring a major accident - occurs the moment it's driven out of the showroom.. Depreciation is sometimes referred to as "the silent thief", as it eats away at the value of your car over time.. There are a number of factors that affect a car's value.. The same goes for a vehicle with an incomplete service history versus a car that's backed by a solid maintenance record.. It's also important to note that certain marques and models tend to hold their value better than others.. None of the cars are cheap to maintain, but there's nothing inherently wrong with any of them, so they potentially represent decent second-hand buys.. Overall, when you calculate the total ownership costs, it makes better financial sense to go down the pre-owned route.. The view is endorsed by Craig Stevens, chief executive at online automotive sales portal Dubaicars.com. ". People are holding onto their cars for longer, and we are seeing a real shift in the cars people want to buy.. "There is more willingness to buy a used car, so people can effectively get more car for their money.. It is