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Discuss the opportunity to buy this new Jaguar, Maserati or Porsche?
If you do not plan to keep it for a while, you may want to consider the rates at which the value of these more expensive cars will decrease.
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In fact, cars can lose up to 10% of their value in the first few months after they withdraw from the lot, according to Carfax.
It should be noted, however, that luxury cars can retain their value better than other models.
Assuming that a $ 100,000 car is new, GOBankingRates has calculated the amount of the depreciation of the vehicle over 30 years.
Here is an overview of the results:
Year 1
In the first year, your car will lose 25% of its value and will be worth $ 25,000. It reduces its value to $ 75,000.
2nd year
The second year in possession of the vehicle, it will be worth $ 66,000, after an additional depreciation of 9% compared to its initial value.
3rd year
Once you have owned the car for three years, it loses a total value of $ 41,920, bringing its value to $ 58,080. The amortization during the third year would be about 7.9%.
4th year
The car will depreciate by 8% from its initial value in its fourth year to $ 49,949. This year alone, approximately $ 8,130 will be reduced by the value of the vehicle.
5th year
In the fifth year, the car will depreciate 7.5% from its original value, bringing its value down to $ 42,456.
Year 10
Value: $ 20,672
Year 15
Value: $ 12,207
Year 20
Value: $ 7,208
Year 25
Value: $ 4,256
Year 30
Value: $ 2,513
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After 30 years, the car will have lost about 97.5% of its value.
To help your vehicle retain its value, Carfax says it keeps miles around 10,000 miles a year to prevent excessive wear. Regular maintenance is also important.
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