Although most car buyers are aware of the fact that a brand-new vehicle loses a large chunk of its value as soon as it leaves the dealership forecourt, it’s something many of us try not to think about too much. With cognitive dissonance at play, we can’t help feeling disgruntled, and with good reason, too. On average, a car loses over 20% of its purchase value in just 12 months.
However, some automobiles depreciate in value quicker than others – and the results might surprise you. Even luxury cars aren’t immune from the purchase price plummet. Without further ado, let’s take a look at the six fastest depreciating cars in the USA today:
6. Nissan Maxima
It might be a beautiful vehicle with relatively timeless style, but even when the Nissan Maxima is still in fashion one year down the line, it will still depreciate by the tune of almost $12,500.
5. Mercedes Benz C520
“Oh lord”, as Janis Joplin once sang, “won’t you buy me a Mercedes Benz?” – If Janice was aware of how much a C520 deteriorates in value after a year she might have reconsidered. You can expect a brand new C520 to be worth $15,247 (or 34.3%) less just twelve months down the line.
4. Kia Cadenza
Hyundai currently owns 33.9% of Kia Motors, which is almost the same percentage you can expect a brand new Cadenza to drop in price after a year. The price difference sits at 34.3%, which is rough $12,940.
3. Volvo S60
We all know that Volvo is responsible for some of the best cars on the market – sure, they may lack pizazz, but they make up for it by being reliable workhorses. That said, a brand new S60 will be worth on average $14,204 less after one year; a price drop of 34.4%.
2. Lincoln MKS
The Lincoln MKS is a sturdy, durable vehicle designed to go the distance. Despite this, you can expect it to lose over $16,000 in price in just twelve months. That’s a percentage of 34.5 – insanity!
1. Fiat 500L
Over the course of a year, the Fiat 500L loses a whopping 34.6 percent of its value – at $8096, that’s over a third of its buying price.