When you're buying a car, everyone wants a good deal.
But there's one part of the decision making process many of us skip, and it can turn out very costly in the end.
When you are looking for a new ride, most of our questions concern interior space, the touchscreen and cameras, handling, and of course how soft those leather seats are.
But the website iSeeCars.com says you may also want to check the 5-year depreciation.
The site analyzed 4 million trade-ins, and found the vehicles with the lowest depreciation (that held their value the best) were the:
- Jeep Wrangler
- Toyota Tacoma, Tundra, and 4Runner
- Nissan Frontier
- Chevy Silverado
- Subaru Impreza
All will bring top dollar when it's time to unload them.
Cars that depreciate the most
But from the "doesn't that stink" file, cars that lose the most value in 5 years.
Depreciating more than 65%. according to the report, are the:
- Nissan Leaf
- Chevy Volt
- BMW 7 and 6 Series
- Mercedes S and E Class
End up with a low trade in value and you may say "doesn't that stink?"
The report claims demand is low for 5 -year old electric cars and luxury sedans, as buyers worry about maintenance costs. In addition, most people who can afford top-of-the line luxury cars want them new, not 5 years old.
If you plan to keep a car 10 years, its 5 year depreciation numbers are not that important.
But if you like to trade in every few years, check those numbers so you don't waste your money.
Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").
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