Are you thinking about buying a new car? Considering how much one will cost is only half of it. A key sticking point for a lot of buyers is how much value the vehicle will lose once it’s driven off the lot. What’s even worse, the car will continue to depreciate in value. Typically the value of a car will lose an additional 10 percent each year.
Don’t purchase a car beyond your means. Yes, a luxurious vehicle may be a fantasy for some, but owning one is risky. Luxurious cars often see the highest levels of depreciation. Some even lose as much as 50 percent of their value in the first couple of years.
Depreciation is often overlooked when people are deciding what car to buy. Even if you’re planning on buying a used car, it’s essential to understand what you are getting into before making a purchase. Here is a list of 50 cars that are rapidly losing their worth and why.
50. Hyundai i40 1.6 CRDi SE Nav
With a price tag of £24,000 the Hyundai i40 1.6 CRDi SE Nav had a price drop of £7125, retaining only £16,875 of its value. An overall 29.7% plummet in value.
The i40 has substandard interior, and the overall average-ness have stopped many from considering this car among the best in class. Initially, the Hyundai i40 1.6 CRDi SE Nav was designed to compete with the Ford Mondeo and the Audi A4. The car has lots of basic equipment and a decent boot. Some alternatives have better interiors and are overall just better to drive.
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