It's easy to get wrapped up in certain aspects of a new car, like its speed, agility or looks while ignoring more pragmatic things like cost of ownership or residual values. The 2013 AAA Your Driving Costs report, though, indicates that these more mundane aspects of car ownership may be what are leaving us so darn broke each month.
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.
When it comes to new cars, more green now means less green later. The UK-based CAP Automotive, which regularly publishes auto-depreciation reports, recently released a study that found that electric vehicles lose their value substantially faster than their gas-powered counterparts. Specifically, EVs in the UK lose about 80 percent of their value within the first three years of ownership, while most cars lose somewhere between 60 and 70 percent. The best value retainers are supercars, SUVs and lu
Looking for the best value in a new car? Better make it Japanese, according to Consumer Reports. The go-to buyer's guide has just finished compiling its list of the best values in the new-car market, and an overwhelming proportion of them hail from the Land of the Rising Sun.
Last Thursday, we reported that the UK price of the Nissan Leaf will rise by 6.9 percent starting March 1st. That increase equates to an increase of £2,000 ($3,238 U.S. at the current exchange rate), driving the Leaf's MSRP way up to $50,310 before incentives. Initially, Nissan attributed the bulk of the Leaf's price hike to rising costs of raw materials, but there appears to be more to the story. The automaker now admits that depreciation of the pound is driving some of the Leaf's steep p
Car price guide Parker's has produced its latest depreciation lists for cars in the UK. It's probably of most use if you're shopping at the lower-priced end of the car spectrum, since a straight-up comparison would be pointless. Seven of the 10 cars with the least depreciation are Japanese, headed by the Honda Jazz, and all of them are small. Five of the 10 cars with the greatest depreciation, headed by the Maybach 57S, are English, and none of them are cheap.
Anybody want to buy a used Maybach? Hello? The idea may sound entirely preposterous – an anathema, even, to the brand's nouveau riche market – but it may be the best way to get your hands on Mercedes' super-lux big brother. Of course that's the positive way to look at it, but the flip side is that, as demonstrated by recently released statistics, Maybach has the highest depreciation rates of any car on the market.
If vehicles could be sainted, stained-glass artists all over the U.S. would be busy figuring out the best colors for the Toyota Prius to shine in. Brand new examples of the motorized mollusk that everyone can't wait to buy spend just five days on dealer lots. Last year's model lasts just fifteen days more.
Spend more for the cutting edge of luxury and style, and you could wind up taking a larger whack than most when it's time to trade in that sled. The National Automobile Dealers Association (NADA) is reporting that premium luxury vehicles actually have the highest annual depreciation rate. The reason for the stone-dropping value is that luxury car buyers tend to want the latest and greatest. The preference for the next big thing leads to owners turning in their current cars faster than people who
A new study by Los Angeles-based Intellichoice.com, which specialises in automotive cost-of-ownership data, says that despite higher initial prices, hybrid buyers are still the winners when you factor in costs of financing, fuel, insurance, state taxes and license fees, repairs, maintenance and depreciation. This conclusion is in contrast to previous studies conducted by Consumer Reports and others that have shown that most hybrid owners won't make back the cost differential of their vehicles in