Rule of thumb is that a new car depreciates 10% off of what the dealer paid for the car...

20 30%?

I bought one year old on my SUV and I think maybe this is the way to go for my future cars. I like my cars perfect and I had to fix a few interior things but I still saved a ton.
I know you can always find an older perfect example if you have time but generally 1 year old cars should be easier to get back 'to new' condition.



Edited 1 time(s). Last edit at 03/31/2012 01:31PM by ouroboros. (view changes)

Quote
ouroboros
20 30%?

I bought one year old on my SUV and I think maybe this is the way to go for my future cars. I like my cars perfect and I had to fix a few interior things but I still saved a ton.
I know you can always find an older perfect example if you have time but generally 1 year old cars should be easier to get back 'to new' condition.

the minute the new car is driven out of the showroom.

Then every year after, every time the new models come out, the car depreciates another 10%. This will slow over time. And there are exceptions. In demand models may depreciate less. Economic/market conditions may accelerate this deprecation or in some cases slow it. For instance in some cases slightly used cars have gone up in value as buyers pushed up prices on good/practical used cars, while new cars languished on the car lots.)

But whenever I buy or at least shop a new car (or used car) I keep the above depreciation 'rule' in mind.

Sincerely,

MarcW.