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A crucial and often overlooked factor in determining
the real cost of a vehicle is its depreciation: the difference between a vehicles cost when
purchased and its value when traded or sold. Two different vehicles with similar purchase prices
can vary significantly (by several thousand dollars!) in value at trade-in time.
Two examples that illustrate this point would be:
1) If you had been looking at Japanese 4-door sedans in 1998 and had narrowed the choice down to the
Mitsubishi Galant LS or the Honda Accord EX, you probably would have been able to buy the Galant
at a heavily discounted price of around $22,000 compared to the Accord's near list price of about $23,000.
Had you decided to save the $1000 and buy the Galant and were looking to trade it in in February 2003, it would have been worth
about $4,200 less than a comparable Accord EX. So the $1000 you saved on the purchase turned into a $3,200 loss
over the time you owned it. This is NOT an unusual or extreme example.
2) An Oldsmobile Aurora cost about $15,000 more than an Accord EX when new in 1998, but in Februry 2003 the Aurora was worth
approximately $3,000 less than the Accord.
Some Practical Advice
So you can see that buying a new vehicle without considering depreciation can be shortsighted
and costly. Since the best predictor of the future is the past, here's how a smart shopper can benefit from using the Galves values:
Suppose you were looking to purchase a vehicle today and anticipated keeping it for three years.
Look up the current value of a three year old example of that vehicle and you will get a good idea of what to expect when you are
ready to sell or trade it. If you are looking at 2003 models and tend to keep a car 3 years, look at 2000 model year pricing.
If you tend to trade on a 4 year cycle, look up 1999 values, a 5 year cycle, 1998 models, and so on. This is particularly
useful for comparison purposes after you have narrowed your choices to a few vehicles. Educated consumers and smart Internet
shoppers have found this a great way to use our website.
As you can see, it makes a great
deal of sense to consider depreciation before making a final
decision on a new or used vehicle. Galves values can give you
a clear picture of the future worth of a vehicle and assist
you in your purchasing decisions. Use the Galves values with
confidence. A small investment now can save you a great deal
of money in the future! And as always you have nothing to lose
because we offer the Galves
Money Back Guarantee.
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to order now
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