Depreciation refers to the value of a vehicle dropping because of age, mechanical wear, and cosmetic flaws. Car wreckers in Sydney can help figure out your vehicle’s depreciation value to identify its current value before you sell it.
Whether selling an old car or buying a new one, you have to know how it could lose its value. Your vehicle’s depreciation value can affect your trade-in, sale, or purchase, so it’s vital to understand depreciation and how it affects used, old, and new cars.
How Fast Do Cars Depreciate?
Several factors affect a car’s value, so the depreciation rate won’t be the same for all new cars. New trucks, sports cars, and truck-based SUVs tend to retain most of their value after five years, while luxury sedans tend to depreciate more.
That said, a new car depreciates faster than a used vehicle. The value typically drops by over 20 per cent after the first year of ownership and continues to fall by 10 per cent or in the following years. The car’s value could be half its original cost after five years. Then, depreciation slows at the fifth year mark and stops when the car is ten years old.
How Much Is Your Car Value Now?
You can do the computations by yourself, but you can avoid the guesswork by consulting with car wreckers in Sydney. Licensed car wreckers are qualified motor dealers, and they have in-house appraisers who can look into your vehicle’s value based on the age, make, model, and condition.
Why Go To Car Wreckers?
A car wrecker is a business that handles the dismantling and recycling of decommissioned, broken, wrecked, and junk cars. If you want to get rid of an old car, it’s best to call them for an estimate instead of selling it in the marketplace. Your vehicle is likely more valuable to them than to other car buyers. Even if your car; is wrecked or not running anymore, it may still be valued a lot in spare parts. Thus, you should consider getting your vehicle valued by car wreckers in Sydney and selling it to them, specifically if they can provide the highest cash offers.
The Value Of Spare Parts
Dismantling an old vehicle can result in various valuable and reusable parts. Other car owners may need those parts to complete their vehicle repairs. Car wreckers recycle and resell mirrors and headlights, engines, transmission systems, seats, exhaust system parts, intact windshields and windows, blinkers, taillights, and others.
Which Auto Wrecker Should You Trust?
Choose a licensed, registered, and insured car wrecking company that offers free car removal in Sydney, like us! Amazon Cash for Cars is your go-to team of car wreckers in Sydney that can give an instant quote when you call 0422 784 920. Our team is ready to determine your car’s value and pay up to $9,000, depending on the condition.