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.