When you buy a car, you usually know that its value goes down over time, whether it's a new or used car. And when you buy your new car, it already loses 10% of its value without even having traveled miles.
And this loss of value continues over time, the more time passes and the more your vehicle loses value. There is about 15 to 25% loss each year for the first 4 years after the purchase of the new car. So if you do the math, your new car will have lost 60% of its purchase value after only 5 years.
The less modern cars also suffer this phenomenon of loss of value which can go up to 50% of loss, which is half of the purchase price in only 2 years after the purchase of the vehicle.
So if you're looking to buy a car, you need to know what cars are losing value quickly and why. Here is the list of 50 vehicles that must be avoided because of this sudden loss of value.
50 – Hyundai Genesis
Here is the car that is in the top 3 vehicles that depreciate quickly. The Hyundai Genesis could be a luxury car if it did not miss as much notoriety. It therefore loses 38% of its purchase value in the first year only!
If you ever buy it second hand, this can be an advantage because you can have a Genesis dating back a year with 13500 euros less on the purchase price. (A new one costing around 45000 euros)
But it's a hard blow if you buy it new and you already want to get rid of it. So if you are looking for a used luxury car, you can try the Genesis.