Reading Time: 3 minutes You may be surprised that a vehicle as affordable as the Rio is also one of the most reliable. JD Power says the Rio is more reliable than the Honda Fit, plus there’s that massive 10-year/100,000-mile transferable warranty.
Reading Time: 3 minutes If crossovers aren’t your thing, the Escalade is still the SUV to get if you’re a CEO or rapper. Originally starting at $71,000, it has street presence and looks expensive, but depreciation is your friend here, and you can find great examples for half that.
Reading Time: 2 minutes If you’re looking to land a top rated luxury vehicle, buying used is a smart strategy. As with all vehicles, new luxury cars lose a significant portion of their value the second they are driven off the lot.
Reading Time: 2 minutes People often say a car is one of the worst investments you can make because its value declines day by day. Understanding how depreciation works and what drags down your car’s value is critical.
Reading Time: 2 minutes It’s no secret that one of the biggest advantages of buying used is the savings compared to a new car purchase. The moment a brand-new car is driven off the lot, it loses an average of 10% of its market value, and then another 10% over the course of its first year.
Reading Time: 4 minutes Hybrids and EVs promise to save a lot in both departments, but do they actually save people money?
Reading Time: 3 minutes Given that buying a car is one of the most expensive purchases a person can make, the desire to save some money in the process is understandable. However, there are many more benefits to buying a used car than simply saving a few bucks.
Reading Time: 2 minutes If you have financed your car and owe more than the insurance payout after the car is totaled, GAP insurance will cover the leftover amount on the loan, which could be thousands of dollars.
Reading Time: 3 minutes Depreciation happens regardless of make or model, so it makes financial sense to buy cars that are a few years old when the largest decrease in value has already affected what are essentially new cars. However, when it’s time to sell, depreciation works against you, lowering your ride’s value.
Reading Time: 3 minutes “Drive that car off the lot, and it will immediately lose 10 percent of its value!” We’ve all heard some version of that story before, where the mysterious force of depreciation instantly devalues your shiny new car.