How much does value drop once you drive the car off the lot?

Question

I am looking at a used 2008 Toyota Solara (5000 miles) and they are asking $33,995 but in looking at brand new 2008 I find 32,000 is the top of the line price. Does the Toyota drop value once you drive the car off the lot?

that is what i thought. It sounds like the dealer with the used car is trying to pull the wool over my eyes. He is asking 33,995 for a car that originally sales for 32,995.

Answer 1

Yes it does, to below what the dealer paid fot it.

Answer 2

yes the value drops and so if you shop for a new one try to at least get the dealer to share the depreciation when you drive it off the lot.

Another way out of this is too buy a used 2008 with low miles like around 6,000 miles on it. You will do better and the vehicle is still new in appearance and so on. You save hundreds of dollars.

There are many people that drive new cars and then trade them in after about 6 months driving them for another new one. They never own it, but they always have a new car and you can do this as many times as you want and your credit is not affected in any way by it...it's getting better all the time.

I remember back in my early days when I bought a 2005 Cadillac Escalade for 59,000 and after my rebate and all that jazz the depreciation when I drove it off the lot was around $4,000.00
That's allot of money to give away.

Answer 3

About $2000.

Answer 4

it's virtually impossible to answer that question correctly since cars have hundreds of different model from luxury to basic. Most cars depreciate and some even appreciate.

the best way to find out is to ask the sale person yourself. They might not tell you the truth but you will get a rough estimate within +/-10%

Answer 5

it depends what you paid for it. If you got a good deal probably not a lot but if you paid all the money and bought extras it will be a big loss.

You can always buy a good used car on auto trader or find them in craigslist . You can save lots of money instead of buying new.

Answer 6

if the used one is $2000 more than the new one it would seem that they gain value off the lot.

Answer 7

yes the value does drop. I hear it was $5,000 if it's a new car.

Answer 8

normally around 28% OF THE ORIGANAL PRICE

Answer 9

Any automobile is nothing more than a moving depreciation.

Answer 10

yes it does it used to be 500 now its probably more