Here at Auto VIP, we understand that buying a prestige car is a significant investment, the second biggest for most, and it can be daunting! But we’re here to guide you to a purchase that will hold value over time.
Follow our top tips to help minimise depreciation and keep your prized possession in high demand:
Do your research
Opt for the most sought-after trims and body styles. For example, an M Sport package will always be in bigger demand than an SE model, and in the sporty models, a hatchback will outpace a four-door saloon.
Time your sale
When it comes to selling your prestige car, it’s not so much location location location, but timing timing timing! Convertibles are hot commodities in spring and summer, so look to sell in May or June to capitalise on peak demand. Don’t leave it until September, when demand is waning.
There’s a reason dealers stock up on sports cars in the warmer months and SUVs in the colder months, so time your sale accordingly.
Color Counts
While colour preferences can change, neutral tones have the broadest appeal. Right now, grey is king, but its popularity might wane soon; “everyone has grey”! So ask your dealer about the second-best-selling colour for a safer bet, as it’s possibly the top choice when you come to sell.
Interior Matters
Just like exterior colour, interior choices can impact resale value. Avoid striking colours like red, blue, tan, or brown. Neutral interiors like black or beige are more universally desirable and will almost always be in demand.
Look Ahead
Check the current market to understand your car’s future value. See what a 3-year-old version of the car you want is selling for. This can indicate its potential depreciation, but remember to factor in a 10-15% profit margin for the seller.
Beware of “Deals”
The dealer might offer a tempting discount if a new car has been sitting on the lot for a while. But these “amazing deals” often indicate that the car isn’t in high demand, which could translate to faster depreciation.
Spec Strategically
Certain options can boost your car’s resale value. SUVs with panoramic sunroofs are highly desirable in today’s market. So research which features are in demand and add genuine value instead of frivolous extras.
Nearly New For The Win
Depreciation hits hardest in the first year, so opt for a one-owner car that’s 6-12 months old to avoid the steepest depreciation curve.
Looking for more personalised advice? The Auto VIP team is always happy to help you make informed decisions about buying and selling prestige cars. Contact us today for expert guidance!