Think you know what your car is really worth? Well, think again – because not all cars are born equal.
Your car’s value does not just depend on how well you’ve preserved what’s under the hood, in the cabin or on the sheetmetal, but on other factors as well, such as branding. For instance, the Toyota FJ Cruiser can retain up to 70% of its value after 60 months of ownership, but the Chevrolet Cobalt only gets to keep 18%. [Tweet This] This means that you can resell the FJ Cruiser at a much higher price.
Even if you’ve taken utmost care of your Cobalt, you won’t have the same price advantage as the Cruiser. This may sound unfair – and to some degree it is – but if you do your research before buying a new car, you can avoid such a problem in the first place. Brands like Porsche, Toyota and Subaru, for instance, tend to retain over 50% of their value after 48 months of ownership. [Tweet This] Knowledge as simple as this can save lots of problem down the road.
So, if you don’t want to lose money on your next car, take advantage of good branding and make smarter purchases!