December 27, 2022
What Diminishes a Car’s Value?
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Car depreciation is one of those things that are inevitable. No matter what you do to try and prevent it, your new car will eventually lose some of its value. It actually starts depreciating by thousands of dollars as soon as you drive it out of the dealership parking lot.
According to experts, the average new car depreciates by as much as 30% by the end of its first year and an additional 15% each year, for a total of 60% of the original value lost by its fifth year.
If you want to get as much money back out of your car when you decide to sell it someday, Veteran Car Donations points out the following things you need to avoid:
- Poor maintenance
To keep your car’s value, you must carry out regular maintenance services and address minor issues before they evolve into bigger problems. Keeping up with oil changes, tune-ups, and other scheduled maintenance will help your car retain its value.
- Unnecessary modifications
While you might think modifying your car will make it more valuable, doing so actually achieves the opposite effect. This is true even for expensive upgrades like alloy wheels or a customized sound system. Most car buyers prefer a vehicle that’s in its original condition. It’s worth remembering that anytime you add an after-market upgrade to your car, it automatically decreases the value of your vehicle.
- High mileage
Generally, the more mileage a car has, the higher its depreciation rate. Higher mileage means greater wear and tear on your vehicle’s parts. If you want to keep your car’s high value, avoid putting too many miles on it.
- Unkempt interior and exterior
Another critical factor in your car’s overall quality is how it has preserved its looks. A clean, well-maintained, and good-smelling vehicle will allow you more negotiating power should you decide to sell it one day. On the other hand, things like stains on fabrics, scratches, dents, and rust spots will significantly decrease your car’s value.
Give Your Old Car a New and Worthy Purpose
Did you know that you can use that old sedan that you’re not using anymore to help uplift the lives of the suffering veterans and their families in your area? All you have to do is donate that car to us at Veteran Car Donations.
We’ll auction off your vehicle and use the proceeds to help fund the life improvement programs for veterans of our charity partners. These IRS-approved 501(c)(3) nonprofit organizations are dedicated to helping former U.S. service members who are homeless, unable to find employment, and suffering from disabilities and serious illnesses, including mental disorders.
Our charity partners use the funding they get from us to provide deserving veterans with housing and financial assistance, employment and livelihood opportunities, family support, free quality health care and medical treatment, psychotherapy services, scholarships, and other services meant to improve their living conditions.
To return the favor, our team will pick up and tow your vehicle for free anywhere in the country. We’ll also promptly send you the 100% tax-deductible sales receipt of your car via mail soon after its sale. You can use the receipt to claim the highest possible tax deduction in the next tax season.
However, the best reward you’ll get for making a charitable contribution to us is the joy of knowing that you’re giving back to the brave men and women who risked their lives to protect ours.
We accept nearly all types of vehicles, including those that are no longer in good condition.
Want to learn more about our vehicle donation program? Go visit our FAQs page. If you have any questions for us, call us through our 24/7 toll-free hotline at 877-594-5822. You may also write to us here and we will get in touch with you as soon as we can.
Support Our Hurting Heroes Today!
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Without a doubt, your car donation will touch the hearts of the suffering veterans in your area. It will make a difference in their lives. Call Veteran Car Donations at 877-594-5822 or fill out our secure online donation form now!
Last Updated: August 23rd, 2023