Buying a car is the biggest deal you will ever make, second to the purchase of your home. But why is it that when you plan on selling it, you only get a few bucks and are told to go away?!
Well, some cars lose their value faster than others even before they start shooting black smoke out of their butts. It isn’t your fault, of course, as the resale value is connected to poor advertising, changes in fuel economy, number of recalls, and blah, blah, blah.
But, bad resale value doesn’t necessarily mean your car sucks, and a lousy depreciation value doesn’t always indicate a bad car.
It just means that for some unknown reasons, people aren’t keen on spending top-dollar for that model as a used car. It’s just like being stuck in the friend-zone by a girl: she thinks you’re perfect and loves you as a person, but just doesn’t want you that way. (Sorry bruh… you’re forever alone).
On a serious note, in this case, it may just prove to be a good option to keep your car, rather than selling it. Otherwise, you’re likely to regret selling your car. (Especially if you’re so broke even your reality check bounces!)
So, what cars are we talking about that lose their value fast? Well, take a look below for detailed information on some of the most popular, but sell-zoned cars for this year.
The First Car on Our List Is…
The 2015 Jaguar XK
Françoise Sagan said it best: “Money may not buy happiness, but I’d rather cry in a Jaguar than on a bus.” So, unless you are a millionaire, get ready to cry in your Jaguar for life as the 2015 XK has depreciated in value by more than 29.2% in ONE DANG YEAR!
This means, if you purchased the vehicle for $84,500 and plan to sell it by the end of this year, you will only get $59,500 – and that’s assuming your car is in pristine, perfect condition! That’s a straight-up loss of $25,000. Ouch!
The Second: 2015 Lincoln MKS
The luxury car manufacturer, Lincoln, had high hopes for the MKS. However, the brand and anyone owning a 2015 MKS are both in deep doo-doo, as the car has depreciated in value by more than 30.4% in one year!
As a result, if you had purchased the vehicle for its list price of $38,850 and plan on selling it this year, you will only get $24,250. This, again, leads to a solid loss of over $14,600!
The Third: 2015 Mercedes S-Class
Available for $94,400, the 2015 Mercedes S-Class has lost its value by more than 32.4% this year and will probably continue to depreciate. So, it might not exactly be a good option to sell the car, as your heart will ache losing $37,600 on your investment.