Unlike buying a home, buying a vehicle is a certain path to depreciation. After just one year, the typical new car or truck buyer is sitting on a 30.2 percent loss in value, according to automotive research firm iSeeCars.com.
It’s a big reason financial advisers recommend buying used. But rates of depreciation can vary widely depending on the model and how popular it is in a given area. In some cases, the initial hit might be small enough to make the decision a toss-up, according to iSeeCars.com, which studied information on 7 million vehicles that sold between August 2018 and January 2019.
Let’s start with the makes and models that won’t cause new buyers to run over their wallets as they drive off the lot.
In Denver, the vehicles closest to their original price after one year were the Subaru Crosstrek, down $2,576; the Subaru Impreza, down $2,679; the Hyundai Elantra, down $2,732; the Chevy Cruz, down $3,475; and the Hyundai Tucson, down $3,481.
Nationally, Hondas dominate, holding four of the top 10 spots for low depreciation. But in metro Denver, Subaru reigns, and surprisingly, so does Hyundai, which doesn’t even make a showing on the Top 10 nationally.
Read the full story via The Denver Post.
