A car is a good investment. It’s also an asset that depreciates in value rapidly. Experts say that a vehicle’s value goes down by 20% once you drive away from the dealer’s lot. While you can’t stop depreciation, you can choose a model that’s reliable, safe, and can hold its value longer. You’ll get the most out of your money and you’re assured of a good collateral if you need a fast loan New Westminster British Columbia.
Tips for Limiting Depreciation
Depreciation is inevitable, and the biggest downturn in a car’s value happens in its first five years. There are several factors that impact a vehicle’s value. One is its quality and design. The Ford Edsel was touted as the future of automobiles and was launched with great fanfare, but its sales quickly dropped when consumers didn’t like what they saw. Meanwhile, the Jeep Wrangler’s iconic design never grows old. A top car website found that this model depreciates less than a third of its value even after five years.
You can also preserve a vehicle’s value by sticking with solid colors like black, dark blue, silver, or white. If you’re planning to trade in, sell, or use your car as collateral for a refinance car loan you should also limit your mileage and keep on top of its maintenance.
Lowest Possible Payment in the Industry
Need fast cash? Apply at Canadian Equity Loans and get the best deals. You can borrow as much as $50,000 without undergoing credit checks. The company also offers low interest rates and affordable monthly payments. They also accept early payouts without penalties. You can get the money you need within 24 hours and keep your car with you. Log on to their website to apply or call their toll-free number at 1-844-586-6311.
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