Ten Cars That Lose Value The Fastest
There are a wide variety of reasons that dictate why people choose to buy a new car. One of the things that many consider is how the value of the vehicle will hold up as time goes on so that they can eventually resell it or trade it in for another vehicle at some point in the future.
The fact is that some automakers produce automobiles that have a much higher resale value on average than others. In deciding whether or not to purchase a vehicle, one thing to consider is that, as a general rule of thumb, the more the car costs, the faster its value will decrease as it is used. It’s not unusual to see luxury vehicles that cost over a $100,000 brand new to sell for less than 50% of their original price tag in some instances.
While this creates good buying opportunities for those looking to purchase a luxury vehicle that has been used, for those looking to purchase a new vehicle, this should be taken into consideration if eventually selling it is something that you want to pursue.
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The List (In No Particular Order)
1. Cadillac STS-V
Though it received high praise for its performance, the Cadillac STS-V is notorious for the low price tag that it has on the used car market. In spite of having a V8 engine, an extremely fancy interior, and rear-wheel drive that makes it one of the elite cars in its class, this has not stopped it from depreciating fast in value. For example, with an MSRP that was around $77,000 new, on the used car market, it has sold as low as $20,000. The difference is so great that it’s almost enough to buy a brand new Cadillac.
2. Mercedes-Benz SL65 AMG
As quite a large car, the Mercedes-Benz SL65 AMG has very few peers as far as speed performance is concerned. That hasn’t stopped it from losing a massive amount of its value when resold though. Take for instance the fact that the SL65 that featured a twin-turbo V12 engine retailed for a value of $185,000 originally in the mid-decade. Now, it can be found for $40,000. That’s an incredible depreciation for such an expensive vehicle.
3. Porsche Cayenne Turbo
All Porsche models retail for a high price tag, as it’s one of the most widely-respected and revered brand names in automobiles. However, the Porsche Cayenne Turbo SUV has not been able to achieve the same level of respect on the used car market. If you purchased a Porsche Cayenne Turbo SUV in 2003, which retailed for around $90,000, you would get around $20,000 for it today. That’s a significant loss of value.
4. Bentley Arnage
Regardless of which model that you choose, you’ll be paying six figures for a new Bentley. A used Bentley is a different story. If you paid around $200,000 for an Arnage, right now you’ll most likely be able to sell it for around $40,000. Of course, $40,000 is still a lot of money for most people, but considering how much it originally cost to purchase, which is enough for a new house, that’s quite a depreciation of value.
5. Aston Martin DBS Convertible
Buying a new Aston Martin DBS Convertible will set you back around $325,000. Though usually Aston Martins are known for holding their value over the long haul, this convertible is known for losing $170,000 of its value in 3 years. This is certainly an anomaly in the Aston Martin lineup, which isn’t necessarily a reflection on the car itself.
6. BMW 7 Series
Once again, this isn’t necessarily a reflection on the quality of the vehicle. The BMW 7 Series has garnered positive reviews and is notable for its exceptional design. It’s also notable for the rapid decrease in its value. The 740i model that ended in 2001 had an MSRP of $70,000 but now is sold for prices as low as $9,000. Older models before the 2000s are even sold for just a few grand.
7. Aston Martin Rapide
It’s yet another Aston Martin that makes the list. The Aston Martin Rapide sells at a base price of $250,000 new and is estimated to lose around $50,000 every single year. In three years, it can depreciate a whopping $150,000. Unlike other Aston Martins, it’s not typically known as a luxury collectible. Instead, it’s more of a luxury family vehicle…albeit one that sells for $250,000!
8. Maybach 57
Though no longer producing vehicles, Maybach was a German company known for its luxury vehicles that came with high price tags. The best way to think of the Maybach 57 is as a more luxurious version of the best Mercedes-Benz sedan that was available. In fact, it could cost more than $300,000. A 2004 model of the Maybach 57 with only 30,000 miles now can be worth just $85,000 to $90,000, which is a decrease of over $200,000. Astounding.
9. Volkswagen Phaeton W12
From the moment that it was released in the United States, the Volkswagen Phaeton W12 was not a big seller. In fact, it didn’t sell very well at all, though it did much better in Europe. Sold under the Volkswagen brand rather than the Audi brand, it cost around $94,000 when it was released. Now it can be bought for as paltry of a sum as $15,000. That’s a major loss of value, which is no surprise due to its lack of popularity.
10. Cadillac Escalade
Yes, it’s a Cadillac and is a brand that is sought after by many. But even though the Cadillac Escalade starts at around $70,000, half decade old Escalades can go for as low as $8,000. That’s because there’s a plethora of them available on the used car market. It’s basic supply and demand at this point, even though new models continue to be sold at a fairly brisk pace.
There are some great values here considering the car brands that were listed. Visit AutoTrader.com for some estimates on used vehicles. If you choose to buy a used car, you can always contact A-1 Auto Transport for all of your shipping needs!