The world of the car has changed a lot in this decade than it did in the last century. The changes started in 2003 and are visible enough for the people to see them. The world has had its share of gasoline in its transportation business and its time we moved to a much cleaner and safer source to power our vehicles, the new revolution is based on the word ‘electrification’. This word had got so much popularity that top executives are leaving their companies on by one due to their negligence for the topic.
Factors affecting the value of a new car
Let’s discuss some of the features of modern cars and do they have any role in depreciating the value of new cars.
Safety was and is one of the most important ones which one check when purchasing a new car, there are safety testing’s done by a different agency for different countries, and one can check into those lists if you consider safety the most important one in your selections. There only a few who has five stars rating in the list of all the cars produced in a year.
- Power source
What powers the car has not been a question in the past as there was only one source to power them, i.e. petroleum-derived fuels. But in these times there is a change in the power source due to the launch of electric vehicles into the mix, these electric vehicles have an alternative to the traditional and also these are also poised to make the fossil fuel vehicles obsolete in the near future, hence traditional cars are depreciating their values much faster than before.
The way a car looks are also some of the greatest facts that decide the value of a car, with modern and next-generation cars going electric the need for grills are removed and which increases the stability of the car and while moving on the road at higher speeds.
New cars are comfortable to sit in and also have a comfortable feel when on the move, these comfort factors are based on many features that are available for the new car. Some of these features include preheating or cooling the cabin before entry, driver assist systems, heated seats and steering wheels, computer adjustable seats based on driver profiles, built-in massager with the seat, porous seats to allow air circulations, keyless entry etc. new cars with features like this tend to keep their values for a longer time than those without them.
- User interface
The way how a driver interacts with his car is also noticed these days with the arrival of electric cars. As most of the electric cars are vertically integrated with 95 percent of their parts built in the house the makers can try to minimize the controls as much as possible and have a minimum number of controls, one automaker has removed the entire control cluster and replaced it with a 17/15inch touch screen. The entire functions of the car can be changed from that screen; this also has given the cleanest dashboard and much better satisfaction from the owners.
So, we all need to keep in mind that there is a large shift in the power source of cars and if we are not careful enough when buying them the value of these new cars will reach the lowest levels that it’s better to donate a car than sell them even if they are in pristine conditions.