How much value does a new vehicle lose after one year?
Here at Dan’s Car World, we often stress the importance of looking at value when purchasing a car. It’s no secret that used cars will always cost less than the same make and model when it’s brand new. Have you heard the term that when you drive your new vehicle off the lot, it immediately loses value? That’s true, but just how much value will that new vehicle lose after just one year? Find out below!
The benefits of driving a used vehicle are that the depreciation has already set in, so you’re getting a big discount that has come at the expense of whoever purchased the vehicle when it was new. After just one year, a new vehicle can lose up to 20 percent of its value. For a new vehicle that costs $40,000, for example, that would amount to $32,000 – a loss of $8,000. Additionally, vehicles will lose another 10 percent or so each year following.
While this is a pretty bad scenario for the original buyer, it’s a great opportunity for used car shoppers like yourself. Our inventory here at Dan’s Car World in Bridgeport is full of vehicles that are in great shape, but that don’t hold a high dollar value simply because they’ve been driven. By purchasing a car from us instead of at the new vehicle dealership, you’ll be getting the same great quality in a vehicle that’s only a few years old for thousands of dollars less than your friends who choose to buy new.
If you’ve been considering getting a new vehicle, we encourage you to stop in and see us first. You never know what you might find at a used car dealership that could put thousands of dollars back in your pocket. Get in touch with us to schedule a test drive today!