Canadian Depreciation Depression
Canadian Depreciation Depression New cars lose value, but there are options The reality of it all The vast majority of Canadians are aware of vehicle depreciation as a reality that must be considered when purchasing a new car. Sadly, consumers report that after only one day on the road, a new car has already depreciated by 15% of its initial value. Not a happy thought. Nearly half of Canadian car owners have experienced some form of depreciation depression. 1 ar But what can we do to help reduce vehicle depreciation? One option is to consider buying a used car instead. According to our survey, when looking at expenses like ongoing maintenance, insurance and vehicle payments, you could save about $14 per month if you bought used as compared to buying new. Now, that's something to smile at! 55% 45% Annual depreciation comparison of 2002 car models* (lower is better) Domestic Asian Imports European Imports 0% -3% 3 out of 4 car owners -6% -9% -12% -15% -18% Reported that they think about the depreciating value of their car. Cars with low rates of annual depreciation* (lower is better) 0% Canadians report that the rate at which vehicle values depreciate makes them... -1% -2% -3% O annoyed 30% -4% O sad 18% -5% O upset 16% -6% * mad 8% -7% O depressed 0 6% -8% * Depreciation measured between 2010 and 2011 Based on an Ipsos Reid poll conducted on behalf of kijiji-September, 2011 2007 BMW X3 2010 Cadillac Escalade 2002 VW Golf 2007 Jeep Wrangler 2006 Ford Mustang 2008 Honda Pilot 2000 Buick Cenfury a 2007 Acura CSX 2002 Ford 150 2010 Ford 150 %24 %24
Canadian Depreciation Depression
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