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. Jaguar XJ 3.0 V6 diesel Luxury LWB
With a price tag of £65,400 the Jaguar XJ 3.0 V6 diesel Luxury LWB had a price drop of £18,800, retaining only £46,600 of its value. An overall 28.7% plummet in value.
The Jaguar’s interior is average with inadequate headroom from passengers sitting in the back. With increased competition from BMW, Audi, and Mercedes-Benz, this Jaguar is being overlooked. While the car may give a distinctive look, it compromises both the front and rear headroom. Also, the rear seats could recline a bit more.
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