That link is informative as well as hilarious.
It was indeed true that most cars lost 40% of its value in 1st year. I bought my current car for around 60% of the price when it was only a year old. However, in current market, even budget cars after a year or two, almost selling at same (or even higher) - due to new cars being extremely short supply.
If you don't have the time read entire document, here is the summary.
If you own a vehicle that’s neither desirable nor practical, the value plummets. Luxury cars, by their very nature, are desirable when new and less desirable when old (unless they’re old enough to be a classic). Strangely enough, the more you pay for a new vehicle, the less practical it generally is: luxury cars like the Rolls-Royce Phantom are notoriously thirsty, not especially reliable, as well as being next-to-impossible to park in tiny urban parking spaces. Luxury cars quickly lose their status (and therefore desirability) as they cease to be new. Are you driving a five-year-old Rolls-Royce Phantom? As far as the rich and snobbish are concerned, you’re simply advertising the fact that you can’t afford a newer model.
Edited by movilogo on 04/03/2023 at 11:27
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