Talk of The Villages Florida - View Single Post - SUVs Not To Buy. Vehicles With The Worst Depreciation.
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Old 04-17-2021, 08:11 AM
J1ceasar J1ceasar is offline
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Default Depreciation

Most of you will probably not buy another car unless you're the type that likes to visit the grandchild once a month and drive a few thousand miles. Pretty much all cars depreciate 30 to 50% within 3 to 5 years. Not only that but you're paying about $3,000 I bet in state sales tax and probably $500 to $900 in a fake dealer fee so automatically you gave up $4,000 the minute you walked off the floor with the car. Yes some cars depreciate maybe 10% more than other cars but pretty much that's it, if financial matters do you more than whether you enjoy the car then you should take an Uber for the amount of Miles most people drive around here.

If you're a smart cookie, then you look around and buy a 2-3 year old car and save about 10 to 20 thousand dollars off the original list.
My last car I bought was 3 years old and yes $15,000 compared to the $30,000 list price with only 15,000 miles. Since my wife puts on maybe 4,000 miles a year this car will probably last her until the funeral or the state takes away her license.

My car I bought a Big 5 years ago the same way and it has a grand total of 48,000 Miles . I don't smoke but if it had ashtrays, I would not trade it in as well I've done to it is change your batteries and buy tires. It has depreciated a random amount of $1,200 per year. It saves me at least $3,000 in interest payments and alone. Yes I am matching to trade it in as there are some cars that have a few more safety features but I'm not doing as much driving as I used to either and it has airbags and abs and I have not won the lottery to buy a new car for $40 or $50,000 like some of you Richer seniors