Why do cars depreciate once you drive it off the lot?

Question

Why isn’t it treated similarly to a house?

In: 111

Answer 1

Its simple.

An object is only worth what someone is willing to pay for it.

I have 2 cars one thats driven and one thats new, which will YOU pay more for?

For a period after covid used cars were more expensive than new cars, simple fact you could get a used car now, and had to wait 12+ months for a new car. So the value existed in getting it now.