Car Depreciation: What Factors Affect Car Values?

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New Vs. Used, From a Shopper’s Perspective

Finally, don’t assume that depreciation automatically makes a used car a better deal. If you’re trying to decide between a new car and a similar used model, run the numbers both ways. If you’re paying cash, you’ll almost certainly save money buying used. However, if you’re planning to finance your used car, your loan will probably have a higher interest rate than you could get on a new car. This is thanks to auto manufacturers’ aggressive incentivizing to boost new car sales. In some cases, the new car might be a better deal – or close enough – especially if you qualify for very low interest rates.

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