Used Car Depreciation – Is Your Vehicle Holding its Value?
Consider that you are now a proud owner of a brand-new vehicle for which you have spent a large amount of money. How much would it be worth in a year? Even if you do maintain it well, take it for regular repairs, and keep it in great condition, the value of your car will reduce considerably as time goes by. This effect is called depreciation, and according to research conducted by CAP Automotive, you may end up paying almost three times as much as your fuel expenditure for the depreciation in the value of your car.