Most assets appreciate in value over time, but cars are the only one that drops in value the moment you take it off the lot. Most people believe that fueling your vehicle is the biggest expense to owning a car, but the truth is, it is depreciation. The rate of depreciation varies between makes and models but a car typically loses at least 30% of its value on the first three years of ownership and then drops to 50% of depreciation after the car hits its 3 year mark.
Unfortunately, you can’t avoid it. It’s an inevitability all car owners have […] Read more
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