As soon as you drive your brand new car out of showroom, its value starts decreasing. What’s the reason for such fast depreciation?
In: Economics
If you buy a new car from a dealership, it’s guaranteed to be perfect with the dealership, and ultimately the factory standing behind it. It hasn’t been used.
You don’t know what’s happened to a used car. Maybe a 16 year old owned it and used it to practice his Fast and the Furious cosplay. Maybe someone left the sunroof open and it filled with water that’s now rusting out the floors.
The reason cars depreciate so quickly is because cars wear down and have a limited lifespan. You have no guarantee the previous owner(s) took care of it well.
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