Nearly all cars depreciate over time, but some are way worse than others. Here are the vehicles that lost the most value in the first year of ownership.
- Jeremy Korzeniewski
- Oct 20, 2016
You know that sinking feeling you get in your stomach when you drive your brand-new car off the dealer lot and you know it just lost a huge chunk of value as soon as its tires hit the public roads? Yeah, well that feeling is about to sink even lower into the pit of your stomach.
By spending money on maintenance and some upgrades, you can improve your car's reliability and overall life expectancy. You can also reduce safety risks and expensive repairs. Changing the oil regularly, replacing worn-out tires, and getting your wheels aligned periodically are all no-brainers.
A growing number of American car leases are being taken over for the purpose of being shipped overseas at the end of the term, according to Swapalease.com. This is happening particularly because fewer lessees and dealers plan to keep the leases because of the changing equity position.
Anyone who follows the collector car market will tell you that prices are up, and demand is high. Indeed, Scottsdale's 2014 auction week, highlighted by the festivities at Barrett-Jackson, was a raging success, with numbers that were improved from the previous year in most significant categories. A look at the final tallies, though, shows that most of the big-dollar action happened in the foreign and exotic categories, with classic American iron from the 1950s falling behind.
We focus a lot on what new cars are like to drive, but it's difficult on a one-week loan to really get a sense of what a car is like to live with. Sure, we try to recreate that sense with our long-term vehicles, but even after a year, it's impossible to know fully learn about a car, particularly in terms of reliability and cost of repairs. For 2014 model year vehicles, Kelley Blue Book has put together a list of the most affordable vehicles over a five-year period.
Electric cars may be great for saving money on gas, but a new report from Kelley Blue Book, commissioned by USA Today, shows that EVs might not be a great value option for their first owners. The study found that compared to gas-powered vehicles, EVs tend to lose significantly more of their value in the first five years of ownership, corroborating a study conducted in the UK, which we reported on earlier this month.
Toyota and Lexus stormed the 2014 Kelley Blue Book Best Resale Value Awards, winning a combined 18 categories including best brand and best luxury brand. This marks the third year in a row that both automakers have won the Brand and Luxury Brand resale value awards. In all, Toyota won 11 categories and Lexus won seven.
Factory fuel economy packages, the special trims or option groups bundled with efficiency improving items such as low-rolling-resistance tires, aerodynamic tweaks and electric power steering, cost the consumer a few hundred dollars (or more) at the time of purchase but don't seem to add any resale value down the road, says a recent report from Cars.com.
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