If you’re looking to lose money at a significant rate, invest in a car.
A not-so-fun fact is that a car loses an average of 10 to 11 percent of its value once the driver leaves the dealership.
Its value basically drops year on year. Even though all cars lose value at different rates, you realise that the car you bought at a high price is now valued for way less than you anticipated when it’s time to sell the car.
This value loss affects new cars even more!
Reports show that depreciation accounts for almost 40 percent of the cost of owning a new vehicle, that’s more than N1,000,000 per year. The minute you drive off the lot, depreciation hits new cars like some kind of bad-mannered beast. By the time it’s a year old, the vehicle has lost nearly one-third of its value.
Don’t freak out, breathe, the cavalry ‘s here!
The winning shot to win this fight against car depreciation is buying smart.
You should consider buying a quality pre-owned vehicle.
If you buy a car that’s one or two years old, it’ll still depreciate, but the good thing is you’ll lose less money less quickly. And you’ll avoid that big initial hit that the previous owner took – like escaping the initial price, the new car registration fees such as custom papers, affording a car with upgraded features and more.
The next best thing is the variety of car options you’ll get!
At Carsbazr.com you have hundreds of car options to choose from. All cars come with a professional 200-point detailed report that shows the condition of the car to help make a buying decision. Our verified locally used cars range from grade A to E to satisfy every taste bud.
You don’t even have to worry about how to sell off your current car, simply visit Cars45.com to sell now and get paid instantly!
Also See: Buy and sell cars faster on Carmart NG