People always say this, but what do they mean?
In: Economics
Cars depreciate – they lose value for every mile you drive and every day you own it. So you buy it at a higher price and sell it at a lower one.
And if you trade in at a dealership, you will be getting less than if you sold it on your own. They have to be able to mark it up and sell it at a profit. So buying a car and trading it in is essentially like buying at retail price and selling at wholesale.
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