New vehicles begin to depreciate in value as soon as they leave the lot. I’m sure you’ve heard this before, but do you know how much value it loses?
A new car can depreciate as much as 11% just by driving it off the lot, and another 10% by the end of the first year.
What does this mean?
It means that if your vehicle is $20,000 you will lose on average $2200 right after your purchase and another big chunk by the end of the year. That’s not all…
Usually, by the time you reach year 5, your vehicle will depreciate by as much as 60% on average, and in some cases, even more. So far you’ve already lost about $12,000 in value on a $20,000 vehicle. That’s insane!
So, why is it better to buy pre-owned?
If you didn’t already know, you can get a practically brand new car without the depreciation. Here at Alberta Drive, we carry a variety of newer makes and models with low KM and for far less money than what big franchise dealers sell them for.
Our vehicles come with warranty options, mechanical fitness inspection, financing options and CarProof.
We also carry everything from a Honda Civic to a Lamborghini! If we don’t have what you’re looking for in stock, we’ll find it for you!