Cars depreciate the most within the first year of purchase, but some cars go down in value quicker than others. So, how do you know whether your new ride is going to lose a quarter of its value or more within the first year of you driving it off the lot?
You have come to the right place! We’ve compiled a list of the five cars with the worst depreciation values. We also listed at what percentage rate they will drop those dollar signs in the first year (according to iseecars.com).
Which Vehicles Should I Watch Out For?
You are on the car lot staring down a shiny new ride. It’s beautiful, gleaming, and NEW. Then you just happen to glance over at the “used” car lot. You notice the same car, albeit a little less shiny, sitting over there. Less than a year old and the price tag is significantly less which makes it seem a little shinier. Here are five vehicles that run ragged quicker than you can say “I just bought it a year ago!”
- The FIAT 500L. Although it has the lowest dollar figure loss, the FIAT 500L is first on the list. It will lose $8,096 for a total depreciation rate of -34.6%.
- The Lincoln MKS. With the highest dollar figure loss in the first year, it is easy to see why the Lincoln MKS made second place on the list! Losing $16,039 in the first year gives it a depreciation rate of -34.5%.
- The Volvo S60. Ringing in at number three is the Volvo S60 with a one year value loss total of $14.204 for an approximate depreciation figure of -34.4%.
- The Mercedes Benz C250. With a dollar figure loss of $15,247 and a loss percentage of -34.3 %, the Mercedes Benz C250 is fourth on the list.
- The Kia Cadenza. Last and the least, the Kia Cadenza has a matching depreciation percentage of 34.3% to the Mercedes Benz C250. However, the Kia Cadenza comes in last on our list because the dollar figure lost on this ride is $12,940.
Did your dream car make the list? Do the research on the depreciation rates before you drive a new vehicle off the lot. You could save yourself thousands or tens of thousands by buying slightly used. That’s money saved, or perhaps money used to pimp out your new ride! Are you looking for a car shipping service to meet the needs of your upcoming move? Check out our five –star rated testimonials, and see for yourself why we have been the premier car shipping service since 2008!
Frequently Asked Questions
Answers to Your Car Moving Questions
The hardest thing for people researching car moving companies to understand is that the prices they are getting are not hard and fast gaurantees, but rather ESTIMATES of what one company thinks it will take to get a vehicle moved promptly versus another company's opinion of what it will take. Don't be fooled, there are not carriers committed to take your vehicle at these quoted prices, the company you choose will still have to get to work getting a carrier to commit to move it at the price they quote you.
Your total price breaks down into two parts, the broker's fee (or 'deposit' as everyone calls it) and the carriers fee (your COD amount) Make no mistake about this, EVERYONE YOU ARE GETTING SALES CALLS FROM IS GOING TO BROKER YOUR MOVE. In this industry, there are brokers who try to fool you into thinking that they are the actual carriers and there are an equal amount of carriers who sell themselves on the fact that they have a truck or two but are not being honest about the fact that they broker out 90% of the orders they book. Here is a quick easy way to tell, if a company takes an up front fee, whether they call it a deposit or any other name, they are a broker. Carriers do not take any payment until the vehicle is delivered.
In our opinion, you are crazy to do so. Have you ever been paid up front for the work that you perform for your employer? Why would you pay a fee up front when there are reliable and trustworthy companies like ours that won't ask for it until we provide you with your carriers details?
The average transit time from pick up to delivery on any vehicle going coast to coast will be between one and two weeks. From there you can figure your transit time based on how far your vehicle is traveling, i.e. from either coast to the Midwest might average 3-7 days.