What Is Car Depreciation?
It’s always exciting for our customers when they get to invest in new cars, a wide variety of which are available at Hall | MileOne Autogroup dealerships across the East Coast. Of course, while owning a vehicle is fun, the time will come when an owner wants to sell or trade that car and invest in something newer.
In nearly every case, the vehicle is worth less at the time of re-sale than when it was originally purchased, an economic phenomenon known as “depreciation.” We’d like to explain what that is and how to prepare for it.