How to Manage Depreciation As Much As Possible

22 October 2020
 Categories: , Blog

For most people, the purchase of a car is a significant undertaking. They may need this set of wheels simply to exist in a disconnected world, but they nevertheless need to ensure that they look after it, especially if they want to get a premium price at the exit. Why is a full-service history so important, therefore, and what solutions are available when it comes to keeping a record?

Controlling Your Loss

In the automotive world, it's an unfortunate fact of life that vehicles depreciate from the day that the keys are handed over. Some vehicles suffer more than others, but you will expect to take a financial loss when you sell it on to another party. Yet this sum will be subjective, and will often be based on the condition and service history of the vehicle. A new buyer will want to know that you have looked after the car or truck properly so that the major mechanical components will perform well into the future.

Manual Records

In the 'old days,' all of this information would be stored in one place — your logbook. A mechanic would write in the date of the service, add a dealer stamp and sign on the dotted line. This would then be your proof to give to the prospective owner to show that you had, indeed, complied.

Database Entries

As dealer operations became more sophisticated, so the company would also input the information into a database. They would then be able to produce digital evidence to show that the particular service had been completed, even if, for some reason, the data had not been entered into the logbook.

Latest Advancements

Today, however, the process may be even more advanced. Some manufacturers have now designed a system that will display all of the relevant information on a dashboard-mounted screen. When a certain set of buttons are pressed, data linked to minor and major service visits will flash up on the screen, so that the prospective buyer can get the evidence required at source.

Important Takeaways

You may or may not have this system fitted to your current vehicle but in any case, always ensure that you turn up on time for that logbook service visit. Make sure that you get documentary evidence, that your logbook is updated and that you get a detailed invoice from the provider as well. This will help you to get the maximum value out of your vehicle when it is time to move on.

For more information, contact an auto shop or dealership that provides logbook servicing.