You'd be crazy to buy one of these cars new
Buying a new car can be an amazing experience, but it isn't without its faults. Perhaps the worst part of buying a car is the depreciation immediately following the purchase. As soon as you sign on the dotted line, your car immediately loses a big chunk of value. So it makes a lot of sense to buy a late-model used car. The loss from depreciation won't be as bad as on a new car, and you could save money thanks to the reduced value. And it turns out that if you pick the right model, that savings could be huge.
The car shopping site iSeeCars looked at the value of late-model used cars after one year of ownership. The company then compared those values with the price of the cars when new to find which ones depreciated the most, and were thus the best deals on the market.
Click on the image above to find the biggest losers.
8. Kia Sedona: -30%Kicking off this list is the Kia Sedona, and it's the only minivan to make it into the top 8 fastest-depreciating vehicles in America. After just one year of ownership, the Sedona lost 30 percent of its overall value.
Kia Sedona Information
7. Toyota Camry: -30.7%
It's a little surprising to see the Toyota Camry – the best-selling sedan in America – on a list of the fastest-depreciating cars here in the States. So, what gives? There's a brand-new version on dealer lots tempting buyers away from previous-generation low-mileage used models.
“The Camry’s inclusion on this list can be attributed to the 2018 redesign, which updated the powertrain, improved the handling, and added new exterior styling, on top of new safety features. The improvements come at a premium, so when compared with new models one-year-old Camrys are much cheaper,” explains Ly.