It will continue to depreciate every year you own the vehicle.Ī benefit of buying a used vehicle is that most of its depreciation has already occurred.
Your new $30,000 vehicle may only be worth $27,000 by the time you get home. Never think of buying a new vehicle as an investment because it loses up to 10% of its value when you drive it off the dealership lot. Used Vehicles Experience Less Depreciation The cost of a used vehicle on average is up to 50% lower than a new vehicle, which will enable you to pay it off faster and save thousands of dollars in financing fees and interest. A used car has a lower price tag than a new car, and this advantage allows you to buy a better-equipped model.
Buying a used vehicle is a cost-saving alternative to purchasing a new one.
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