Used car value trends have a positive November

December 17, 2013 12:00 AM

The NADA Used Car Guide tracks all kinds of statistics regarding pre-owned vehicles, but one that is particularly important to drivers is depreciation. This data plays a major role in the resale value of a car, which almost all motorists want to remain high so they can get the most out of their investment. Because that is the case, many drivers will be happy with the most recent trends. 

According to the NADA, the average rate of depreciation in November was just 1.5 percent, which is much better than October's rate of 3.5 percent. Midsize vans boasted the biggest improvement as a segment, and compact cars, midsize vehicles, and larger pickups and SUVs all boasted various levels of decline in depreciation. 

"November's decline in the rate of depreciation can be credited to favorable market conditions, lower unemployment, moderating gas prices and advantageous credit conditions, including the end of the federal government shutdown in October," said Jonathan Banks, an auto analyst for the NADA Used Car Guide. 

These may be the trends across the U.S., but drivers can take steps to make sure they are retaining the most value in their vehicles. Regular trips to an auto repair franchise to fix any issues a vehicle is having are a must, and something as simple as getting standard vehicle maintenance may make a huge difference when it comes to keeping market value high. 

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