How much does a car depreciate each year. $1000 or more. Does a used car depreciate once off lot?

Question

If a new car loses $2000.00 once driven off lot what does a used car lose once off the lot? How many thousands of dollars does a car lose per year?

Answer 1

A used car doesn't depreciate immediately like a new car does.

Imagine this situation: Someone you know bought a brand new car yesterday for $20,000. Today, they're trying to sell it to you for the exact same price. Would you pay it? Or would you believe there's something wrong with the car, and that they're trying to dupe you? That's the primary reason new cars have that depreciation, because they'll never again sell for as much as they did that day. An immediate sell would invoke suspicion.

There is no set rate for depreciation. It can very depending on the original cost of the car, how many of them there are, mileage, condition, etc.

Answer 2

It depends on the car. Hondas have slow depreciation, thats why they are in so high demand and people are willing to pay a lot of money for a used one. But they do say it depreciats once driven off the new car lot, thats because one would always want to buy a new car off the lot as opposed to buy one for the same price from someone who had it a few days. Used cars don't depreciate the same way. The price is just jacked up b/c the dealership needs to make a profit from the person they probably paid dirt cheap to for the car.

Answer 3

Used cars ( 2000 - 2006 ) with average wear and miles valued from $ 25.000 and less depreciate about $ 2500. a year while cars higher in value will have a much higher yearly depreciation factor.

Buying a brand new car, expect a depreciation factor as high as 30% first year from what you paid out the door

As a rule of thumb if you make a down payment around 20% on a used car, in most cases that will cover depreciation factor the first year, should you want to trade you most likely will not be in a negative situation

Answer 4

It is not just the fact that it is used or new, it is up to the certain make and model. I have a used car that i got used and it gained money with me driving it off the lot, it all depends on Year, make and model.

Answer 5

You usually pay twice what a used car is worth to drive it home. TRY EBAY first.

Answer 6

depends on the make, model, year, and miles some vehicles hold better resale then others