Did you know that the moment you drive off the car lot that, while you relish in that new luxurious car smell, your vehicle has already decreased in value?
Car depreciation is a serious factor when it comes to buying and trading cars. On average, cars lose around 10% of their value as soon as they leave the car lot and, by the end of the first year, the lose a minimum of 10% more in value! But, depreciation doesn’t stop there. Over the course of five years, a car can lose anywhere between 15-25% of its value each year in what’s known as the “true cost to own,” which also includes financing, insurance, maintenance and repairs. This means that the great deal you got on the new car lot will likely cost you double over your first five years of ownership!
If you’re in the market for a new car or looking to trade in your current model, take a look at these 50 cars that are plummeting in value! Find out their starting price and approximate depreciation rate as well as their true cost to own. Idle those engines and let’s get started!