Those new cars are sure tempting. Shiny and redolent with that “new car smell”. But even if you get a great deal, how much is that new car worth once you take it home? How about a year later? Definitely points to ponder.
Your Lake Worth off lease car dealer wants you to understand the depreciation of a new car and make an informed decision when you purchase your next vehicle. A new car can lose 10 percent of its value just by driving it off the lot. My wife has quoted this to me for years, but since I don’t often buy a new vehicle, it’s not been much of an issue. But it really is true.
In one year, your car can lose another 10 percent of its value for a total depreciation of about 20 percent if you’ve put the average of 15,000 miles on it by then. At the two-year mark the car may have lost as much as 31 percent of the original value with around 30,000 miles on it.
At three years out your vehicle may retain only 58 percent of its original value, with 45,000 miles on the odometer. When you reach four years you hit the 50 percent mark in depreciation, with 60,000 miles on the car. The average owner, by the way, racks up about 15,000- miles a year.
By the time your vehicle is five years old it has lost more than half its value and is worth about 40 percent of what you paid for it. You will likely have about 70,000 miles on it by then, kind of gray area when it comes to resale. West Palm used Infiniti customers already know where to find the best pre-owned deals.
That’s not to say you should never buy a new car. After about five years, the value levels out, so if you’re planning to keep the car long-term it’s not a bad investment. If you’re one who likes a new car every two or three years, though, you should certainly consider a certified pre-owned model with warranty. You will have the peace of mind of a new car without the lost value.
Pre-owned vehicles can be a great value and are an especially good choice for young drivers’ first cars or college students who need an affordable ride. In today’s tough economy, more people will likely be willing to look at the economics behind a new car purchase. West Palm used Infiniti wants to help buyers avoid spending where they don’t have to.
It’s so easy to be blinded by the shine from that pristine new paint job, but put on your budgeting shades and look past the shine to the long-term value. Customers of the Lake Worth off lease car dealer will certainly have no trouble finding the best value on the model they want.
Eddie Sherman is a freelance writer and auto buff. His article features information on your Lake Worth off lease car dealer for customers of West Palm used Infiniti.
Article from articlesbase.com
