Here's why cars depreciate so quickly
12:47
CNBCRobert Ferris
Here's why cars depreciate so quickly
A car loses about 10% of its value, on average, as soon as it's driven off the lot. In three years, it has often lost 50%. Depreciation, the rate at which that happens, is a number everyone in the automotive world thinks about including consumers, automakers and the massive used car market, which makes up more than double the sales of new cars ...
Dec 27, 2023
Depreciation Methods
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The idea is that new vehicles depreciate quickly, so spending that much is often seen as unnecessary unless you have significant financial resources. Opting for a used car can be more economical for most people. #usedcar #SaveForTheFuture #SmartSpending #Budgeting #InvestInYourself #WealthBuilding #MoneyMindset #FinancialWellness #PrioritizeSavings #futureplanning | Jude Billy
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The idea is that new vehicles depreciate quickly, so spending that much is often seen as unnecessary unless you have significant financial resources. Opting for a used car can be more economical for most people. #usedcar #SaveForTheFuture #SmartSpending #Budgeting #InvestInYourself #WealthBuilding #MoneyMindset #FinancialWellness #PrioritizeSavings #futureplanning | Jude Billy
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How much your $100K car will depreciate over time
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Double-Declining Balance (DDB) Depreciation Method: Definition and Formula
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