Car Shopping: What You Need to Know About Vehicle Depreciation
When it comes to significant purchases, apart from a home, they don’t tend to get more significant than a new vehicle. However, unlike a home, a vehicle is a depreciating asset, which means that it will lose, not gain, value over time. That’s why, if you’re planning to buy a new vehicle any time soon, you should know a bit more about depreciation and the factors that affect it. What is vehicle depreciation? Vehicle depreciation normally refers to the drop in value between the time that you purchase the car and the time that you come to sell …