Most cars lose value as soon as they are driven off the lot. As soon as the car has been purchased and is put into operation, it loses the distinction of being new. No one else will ever be the original owner. This depreciation is normal, but some cars lose less value than others. Here are the types of cars to look for if worried about depreciation when going to resell your car.
4×4 Offroad Vehicles Hold their Value Well
Four wheel drive vehicles are designed to be driven in all conditions, including off road, lose the least amount of money over a three-year period. As a bonus, this type of vehicle is popular with used car shoppers making a sale easy to make.
SUVs Are Popular when Used
Sport Utility Vehicles are one of the most popular types of cars made, but they are expensive when new. The versatility of the SUV is a desirable quality and buyers will ignore high miles and light wear to own one.
Sports Cars Still Bring Top Dollar
Racy sports cars are highly sought after by enthusiasts. Sports car manufacturers make many changes to their vehicles each model year making many vehicles unique. Collectors are willing to pay more to purchase the exact sports car they desire.
Luxury Automobiles have High Resale
Not many can afford the most luxurious autos on the new market, but some can manage to own a used version. People are willing to pay more for the prestige owning a premium vehicle can bring making luxury vehicles a better investment than most new car purchases.
Some depreciation is to be expected, but choosing the type of new car to purchase can limit the amount of money lost when driving off the lot. 4×4’s, SUV’s, Sports Cars, and Luxury Cars all hold their value well when sold after three years making the initial purchase price a better investment than other types of automobiles.