How Fast Does A New Car Depreciate?

How Fast Does A New Car Depreciate?

The fear of depreciation is the beginning of wisdom when planning to buy a new car. Yes, it is cool to cruise around in a new car with everyone staring at you as you drive past, but the price you will end up paying for that show of wealth can make you cry.  New cars depreciate fast and it is simply not a wise decision to buy a new car. Instead of placing your hard-earned money on that new car that will depreciate faster than the speed of light, why not simply buy used cars in Montclair? The benefits are endless and you will never regret the decision.   Continue reading to learn more about why it is better to buy a used car than a new one.

How depreciation affects a new car

The information to be revealed in this section of the write-up will make you think twice before you ever buy that new car.

You must note that new cars start depreciating right from the moment you drive them out of the dealership. Studies show that the car can lose up to 10% of its value after just one month of ownership. The car would have lost more than 20% of its original market value after just a year of ownership; the depreciation in value will still occur even if you just park the car in our garage of the 12 months without using it for once!  If you use the car for four years, it loses an additional 10%of its value annually.  After about five years of use, that erstwhile new car would have reduced in value by up to 60%. You can save yourself the associated heartache by simply visiting buying used cars in Montclair.

buying used cars

Bear in mind also that the auto technology industry is advancing very fast; the features in that new car you want to buy now will be useless in about 12 moons as technicians would want to create a new set of technology. Instead of worrying yourself about keeping up to date with the latest technology in the auto industry, why not simply buy a used car and give yourself some peace of mind?  Just save yourself a lot of trouble and rat race by buying used cars in Montclair.

No more heavy taxes

Buying used cars in Montclair saves you from those heavy taxes charged by the dealership and the government. Once you indicate interest in a new car, you will be burdened with the cost of running the dealership, many fees and taxes. You will be totally saved from this if you simply opt for used cars.

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