It’s a common adage in the car industry that once you drive your brand new car off the lot, it has already lost value. In just 1 year, the average depreciation for a car with average mileage is 21.2%. But for some cars, it’s more than that.
Here are cars that will depreciate the most after just 1 year:
- Fiat 500L. The depreciation is 34.6%, and the price is about $8,096 less than when brand new.
- Lincoln MKS. 34.5% depreciation. You pay $16,039 less.
- Volvo S60. 34.4% depreciation. Price drop is $14,204 on average.
- Kia Cadenza. 34.3% depreciation. Price goes down by $12,940.
- Mercedes Benz C250. 34.3% depreciation. The price is $15,247 less.
- Nissan Maxima. 34% depreciation. Price difference is $12,469.
- Lincoln MKZ. 33.8% depreciation. You can pay $14,177 less.
- Jaguar XF. 32.3% depreciation. You can save up to $19,966.
- Fiat 500. 31.9% depreciation. The price goes down by $6,099.
- Cadillac CTS. 31.8% depreciation. The price drop is $13,351.
- Chrysler 300. 31.7% depreciation. Price savings total $11,525.
- Buick Regal. 31.2% depreciation. The price is $10,177 less.
These stats show that if you’re planning to buy any of these cars, you’re probably better off not buying them brand new. You’ll just end up losing a lot of money when you resell them.