Reading Time: 2 minutesIf 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 minutesPeople 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 minutesIt’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 minutesHybrids and EVs promise to save a lot in both departments, but do they actually save people money?
Reading Time: 3 minutesGiven 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 minutesIf 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 minutesDepreciation 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.
Reading Time: 3 minutesIf you’re in the market for a used car, we have compiled four tips that will help you put more money into your pocket.