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

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Why isn’t it treated similarly to a house?

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Anonymous 0 Comments

The value of anything according to the market is approximately how much people are willing to pay for it. People are willing to pay quite a bit more for a totally new car than a used car, even if that used car has barely been driven at all, because people like feeling sure about what they’re going to get.

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