A few weeks ago, we looked at some cars with huge depreciation rates. We called depreciation an inevitability and wondered why anyone would decide to purchase a new car (unless they simply couldn’t resist that intoxicating “new car” smell). However, after a spell of deep contemplation and soul searching, we decided to do something crazy. We took the the reams upon reams of Excel spreadsheets on depreciation data stored securely in the CarGurus vault and turned them upside down.
Everyone knows that the value of any car you buy will plummet with every passing year. Unless you’re purchasing a 1964 Ferrari 250 GTO, you can be sure that the value of your car in 5 years will be significantly less than the price you paid.
That’s the bum deal about cars, and it’s true whether buying new or used. Leasing is gaining in popularity for this very reason. The only exceptions to the rule of depreciation are a few collector cars that go up in price every time they hit the auction block.
Any car currently for sale at a dealership in the U.S. won’t be going to a prestigious auction anytime soon, so the best we can do as buyers is to purchase cars that depreciate more slowly than average. The 10 best cars for holding their value are listed below, and they all share one common trait.
As time passes, I’m finding fewer reasons to buy an electric car.
While EVs are slowly gaining popularity, a nationwide charging infrastructure is barely in its infancy. That’s strike one against electrics. Even so, electric cars are proving themselves as commuters while saving owners a bundle on gas costs. Things should be looking up for this new chapter in automotive history.
There’s a problem, though. For the first owners of a new electric car, the finances just don’t add up. And it’s getting worse.