Three Ways Your Car Value is Depreciating
A car loses its worth every year due to normal wear and tear that comes with aging, much like other items that depreciate over time. Depreciation is the term used to describe this loss in value. The depreciation rate varies depending on the car’s year, make, and model. The market value of a vehicle takes the most significant blow from depreciation within the first year, with most vehicles losing 20% or more of their initial worth. From there, the loss keeps getting smaller. Within the first five years, cars frequently fail 60% of their initial purchase price. Join us in this blog by Mercedes Benz of Arrowhead; we’ll look into how your car value depreciates.
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