Cars with the Highest Depreciation Rates for 2023
Cars with the Highest Depreciation Rates Cars with the high depreciation rates tend to experience a rapid decline in value over a relatively short period. Several factors contribute to this phenomenon, including initial purchase price, brand perception, reliability, repair/maintenance costs and market demand. Certain models are more susceptible to significant depreciation, making them noteworthy for consumers mindful of long-term and low-cost ownership. The three primary categories encompassing the highest depreciating vehicles include Luxury, EV/Emerging technology and High-Cost-to-Own vehicles. Luxury vehicles are especially susceptible to rapid depreciation mainly attributed to their high-tech features, higher maintenance costs and premium price tags. The allure of the latest technology and premium features and build materials diminishes over time and is not as relevant when they hit the used car market, greatly effecting the pre-owned vehicle...