Fuel economy, finance rates and fancy features top the list of concerns for many potential car buyers. However, for some it’s the eventual loss of value – or depreciation – that’s the main concern. The realization that no one but you will pay the same price for this very car again can hit you like a truck.
Depreciation is essentially the difference between the price you pay and the amount you get when you try to trade it in or sell it. Whether you’re buying a new car or a used one, its value will inevitably decrease. The most significant depreciation happens in the first three to four years at an average rate of 15 to 20 per cent a year. Click here to learn more about depreciation and how it affects the value of your car. Because of its inevitability, we believe that depreciation shouldn’t be feared, but embraced instead. Here’s how: Read More