Month: February 2017
Unless you immediately drive it into a garage, seal it for 50 years, and cross your fingers that future generations will consider it a classic, your new car is going to depreciate in value. They’re not exaggerating when they say a new car loses a big chunk of its value the moment it’s driven off the lot — that’s the truth. Car depreciation is a cold, hard fact whether you’re buying a new or used car. Like all cold, hard facts about economics, there are a lot of complicated variables at play. Depreciation is a complex process that can change a lot depending on the circumstances, but understanding how cars depreciate can give you at least a little bit of an advantage when you consider buying a new or used car.