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LOS ANGELES - Californer -- lFactors That Cause Car Depreciation
While car shoppers differ in how they prioritize the following features, these are some of the most commonly considered factors in purchasing a car. Therefore, they will affect how much the resale value of the car will be.
Top 10 Luxury Cars That Depreciate the Most
More on The Californer
Luxury CarDepreciationChange in Value
Maserati Quattroporte 64.5% -$90,588
BMW 7 Series 61.8% -$72,444
Maserati Ghibli 61.3% -$58,623
For the full list of fast depreciating cars and cars that hold their value, visit https://smartfinancial.com/cars-that-depreciate-the-most
While car shoppers differ in how they prioritize the following features, these are some of the most commonly considered factors in purchasing a car. Therefore, they will affect how much the resale value of the car will be.
- Mileage: Low mileage indicates a longer life for the car so people will pay more.
- Make and model: People usually want a newer model. In some rare cases, certain years are more expensive than others.
- Market demand: Some cars are more reliable than others or have luxury appeal. Certain cars will resell better, even with age.
- Age: Usually, the newer it is, the more expensive it will be.
- Accidents: Some buyers refuse a car that's been in an accident, and those who will buy a car with an accident history expect to pay much less.
- Number of owners: The more the car has changed hands, the less valuable it will be.
- Overall condition: The interior and exterior of the car will determine how much a car costs.
- Fuel economy: Most people want to pay less on gas each month, unless they want a specific car that is known to be a gas guzzler, like a classic Cadillac, and they are willing to put up with the high cost.
- Color: Neutral colors sell better than other colors. Some colors give away the fact that it's a used car too.
- Warranty: Whether or not a car is still on warranty is a big determinant of pricing, because it means fewer out-of-pocket costs for car problems, at least for the duration the warranty is valid.
- Technology: Older cars don't have the latest technology and safety equipment and wil therefore cost less in most cases, unless it is a classic car.
Top 10 Luxury Cars That Depreciate the Most
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Luxury CarDepreciationChange in Value
Maserati Quattroporte 64.5% -$90,588
BMW 7 Series 61.8% -$72,444
Maserati Ghibli 61.3% -$58,623
For the full list of fast depreciating cars and cars that hold their value, visit https://smartfinancial.com/cars-that-depreciate-the-most
Source: SmartFinancial
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