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Unlike real estate, fine jewelry or timeless memorabilia, cars are assets that depreciate rather quickly, especially if you purchase a brand-new vehicle.
Along with maintenance and insurance costs, depreciation is one of the main expenses associated with car ownership. A brand-new car’s price is reduced by 15 percent immediately after leaving the dealership. During the first three years of ownership, your vehicle loses anywhere from 20 percent to 40 percent of its original value.
While all vehicles depreciate over time, some retain their value better than others. For example, used pickup trucks and offroad SUV valuations are typically more durable, while compact and mid-size cars tend to depreciate the most.
If you’re looking to purchase your next vehicle, consider buying a used car, SUV or truck. Purchasing a used vehicle means you’ll avoid the steep depreciation that occurs during its first few years of life, because the first owner(s) already paid it.
If your goal is to lose as little money as possible to depreciation so you can eventually resell or trade in your ride for a favorable price, consider purchasing a used vehicle that will depreciate at a slower rate than most other cars.
There are many makes and models that retain a good chunk of their original value over the first five years. Whether you’re looking for used SUVs, trucks or cars, there are several options to explore.
2. Toyota 4Runner
3. Toyota Highlander
4. Honda Pilot
2. GMC Sierra 1500
3. Ford F-150
4. Toyota Tundra
2. Honda Civic
3. Honda Accord
4. Toyota Camry
Whether you’re shopping for an economical commuter car, an SUV with stellar off roading capabilities or a pickup truck for work, Direct Car Buying is here to help you find the vehicle you need.
Explore our vast inventory of used vehicles to find a reliable and certified vehicle with stellar resale value.
Looking to sell or trade in your car? We can make you a firm offer within three business hours.
To learn more, call 877-927-6093.
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