Car depreciation – the difference between what you spend on a vehicle and the amount you get back when you sell or trade it in – is one of the biggest and most overlooked costs when it comes to owning a car. When you buy a vehicle, you should frequently ask yourself when will your used car lose value?
Why? Because car depreciation ought to be considered throughout the ownership of any vehicle: from the moment you look at purchasing your car, to how well you maintain it during its lifetime, to the day you come to sell your car or part-exchange it.
After all, car depreciation is a dreaded thing for owners looking to make a good return and sale later down the line. That’s why we’ll be looking at what’s the depreciation on a new car and how much do used cars depreciate per year.
Of course, potential buyers take note! Depreciation can be a true blessing for car buyers on a budget. For example, a nearly-new vehicle that has depreciated heavily – providing that it’s mechanically sound – can be a real bargain entrance into vehicle ownership.