Expensive cars prove to be, well, expensive
Research from America’s National Automobile Dealers Association reveals (shock, horror) that driving luxury cars is an expensive habit. Quite apart from finding the shedloads of cash to buy in the first place, the rate of depreciation on cars costing over $50K is higher than any other – with up to 25% of your cash vapourising in the first three years.
Mind you, if you’re a typical buyer, you won’t keep it that long. NADA says it’s because luxury car junkies have to trade in for the next new model so regularly that values of used models drop so fast.
If your budget’s limited and you can’t face the indignity of a one year old luxury car, one way of getting the object of your desire might be to go for car leasing.
October 27, 2008 at 6:58 pm | Car Leasing Advice | No comment
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