Quote:
Originally Posted by SirBrass
No, you loose $5k by going off the lot, and another $5k by having it a year, loss of $10k.
I had a 2013 STI. $35k. When I traded it in clean in 7 months they only gave me $26k. That's a total of $9k lost. There was depreciation by driving it off the lot, and more depreciation for owning it for a period of time.
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Yeah depreciation on a first year car is brutal. If you ever read Edmunds long-term tests, they calculate depreciation for each car after ~1y/20k miles. It's typically between 15-25%.
For a $25k car, you're looking at $3750 - 6250 in the first year alone. Depreciation usually slows a little in the second year, and tailors off a bit more each year after that.