Your car is worth less than you owe?
For many of us, a new car is one of the biggest purchases of our life, and one of the largest costs associated with this new car is depreciation.
Vehicle depreciation is the amount of the value of a car loses over time, and this figure may vary considerably from car to car For consumers who keep their cars for five years or less, the depreciation should be the one of the main factors to consider those looking to keep their cars for the long term can benefit by paying less upfront because the resale value actually won five or no importance 10 years later.
Buyers should keep in mind that just because a vehicle has a lousy damping value, he did not say it is a bad car This simply means that, for various reasons, aren t people willing to pay top dollar for this model as a used car.
According IntelliChoice, Campbell, California -Based research firm, high-demand cars tend to have a high resale value, such as sports cars, compact cars and the base model in line of a large range vehicles, cars and minivans medium businesses tend to lose their value, IntelliChoice said with that in mind, here are five vehicles that lose a lot of value and what can be better alternatives, as well as estimates mpg and the price or manufacturer's suggested retail MSRP Some models from 2012 because the 2013 depreciation values aren t out yet.
Looking for a car loan Have a look Bankrate applied automatically to price comparisons, loan calculations, and more.
As for minivans, the Kia Sedona can save you money upfront, but if you are concerned about the sale in the short term, you may want to consider before buying.
Over five years, the Sedona 2012 depreciates by 17730 and has a total cost of 41 727 property, according IntelliChoice Although the Kia brand has been revamped in recent years, the Sedona is the last holder of the previous generation, said Eric Lyman, vice president of ALG, a Santa Barbara, California -Based research firm that ranks vehicles according to resale value.
The automotive market is one of rapid change, and without major improvements since 2006, the Sedona is a little outdated in terms of refinement and technology, said Lyman.
Do you want a minivan that retains more of its value Order Honda Odyssey 2012 with a MSRP 28375 According IntelliChoice, the Odyssey has a five car depreciation 14768 and 38398 total cost of ownership after five years.
Perhaps because of consumer perception or performance of inside-mill, but for some reason, the Chevrolet Impala doesn t keep as much of its value compared to some of its peers.
According IntelliChoice, Impala depreciates 17983 in five years and has a total cost of 41,327 property during this period.
The current 2013 Impala suffers from a design long-in-the-tooth and an oversupply of vehicles leaving the rental fleet daily, Lyman said the model years 2014 Impala was released in early 2013 and is much more competitive, he said an alternative to the Impala is the 2013 Toyota Camry 4-door sedan, with an MSRP of 22235 According IntelliChoice, and depreciates the Camry 9688 has a total cost of 29,976 after five years of ownership.
The Jeep Liberty is not light off-road, but the car reviewers questioned its management and performance on the pavement, which could be a contributing factor to its poor resale value According IntelliChoice, Liberty depreciates 15239 more five years and has a total cost of ownership 41859.
In its current form, freedom is a more square design and utility, said Lyman Consumers want SUVs that have more features like car, he said.
Yet it is not all bad news for the Jeep Liberty fans will relaunch for the 2014 model year, with some new features introduced by the new Fiat partnership, said Lyman.
Can not wait the new freedom An alternative that retains much of its value is the Toyota FJ Cruiser 4X2 AT, with a suggested retail price of 26115 According IntelliChoice, the depreciation of the car is 8113 and its total cost of ownership is 35641 more five years .
The Suzuki Grand Vitara can not be a standout in terms of depreciation, but for consumers who are willing to negotiate a good resale value for affordable from the start, they won t be disappointed by this subcompact SUV.
However, from the viewpoint of the damping value, things don t look like they will improve with Suzuki output of the US market, residual values will continue the downward trend that the brand has experienced in recent years, said Lyman .
According IntelliChoice, the Grand Vitara Premium lose 14,379 of its value in five years and a total cost of 39864 property in that amount of time.
Consumers are willing to pay a little more for their subcompact SUV but still want one that holds the value will do better with the 2013 Mini Cooper Countryman, with a retail price of 22,000 According IntelliChoice, the Countryman depreciates 10210 in five years and has a total cost of 31,974 after five years of ownership.
Jaguar XJ can not only be expensive to buy, but it is also costly to own According IntelliChoice, the Jaguar XJ 2013 52014 loses its value in five years and has a total cost of ownership for 92175 five years.
Despite the improvement and industry recognition for their new products, Jaguar still suffers from a historical perception of negative quality that affects the resale value of the car on the used market, said Lyman.
Coming in a little better in the depreciation category is the Porsche Panamera 2013, with a suggested retail price of 80450 According IntelliChoice, the Porsche Panamera 41988 loses its value in five years and has a total cost of ownership 84293 after five years.
Porsche has a reputation for engineering excellence in vehicle performance, fit and finish of the product which leads to a strong perceived quality that results in a premium on the used market, said Lyman.
Amortization of 5 cars models lose value, depreciation, models, lose.