A consumer just found their dream car and believe they got a good deal from one of the local auto dealerships. Isn’t this one of the big things in life? Of course it is.
Being a savvy shopper, this consumer knows the car depreciated 10 percent the instant they drove it off the car lot and that it will depreciate another 10 percent over the first year of ownership. They may also be aware that studies show it will lose about 10 percent of its value each year over the next four years.
If one does the math, this means that after five years, it is going to be worth about half or even 40 percent of the original sale price. Many people, including me, find this to be a scary statistic.Read More