Summary
Understanding how vehicle can depreciate can save you money. MotorBiscuit’s article highlights how new cars lose value rapidly, with around 20-30% depreciation rates in the first year alone. Luxury vehicles and electric cars often depreciate faster due to high initial costs and rapidly changing technology. To mitigate losses, consider buying used cars already experienced significant depreciation. Additionally, maintaining your vehicle well, choosing models known for reliability, and avoiding high-end features can help retain value. Strategic car buying and upkeep can significantly reduce the financial impact of depreciation, making your investment in a vehicle more worthwhile.
Motor Biscuit
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