Used Cars Have Slower Depriciation

Everyone knows that a new car goes down in value like a rock. Some new cars can depreciate anywhere from 10 percent to 30 percent as soon as you drive it off the dealer's lot. This quick depreciation, and the accelerated depreciation every year, can leave you owing much more on your car than it is worth.

Buying used cars can help keep the window of depreciation smaller than if you bought new. Whe you buy used cars, someone else has already taken that big hit on the depreciation. As a used car gets older, the depreciation is less every year.