Which Cars Depreciate the Most in Rochester?
All cars lose their value as we drive them, but THESE cars are the models that depreciate the most here in Minnesota's Med City.
I remember my dad saying when I bought my first car that cars are an expense, not an investment. And, yeah, he was right. In fact, CarFax says that some cars can lose close to 10-percent of their value in the first month after you've driven it off the lot, with most losing half their value within the first three years of ownership.
However, it's not all bad news, though. Some of those makes and models that lose their value the fastest here in southeast Minnesota create an opportunity for used car buyers to get some decent savings on a lightly-used model. But which new cars depreciate the most after three years to become the best used car deals?
Well, thanks to the gang over at iSeeCars, we know just which ones they are. They just did a study that analyzed more than 4.8 million car sales to identify models with the greatest loss in value after three years-- the time when most cars that have been leased hit the used car market.
And here in Rochester, the Cadillac XTS depreciates 56% in the first three years and leads the list. It's followed by Mercedes-Benz E-Class, the Lincoln MKZ, BMW 5 Series, and the Audi A6.
Want to see how much YOUR vehicle depreciates? You can take a look at the entire survey and list of cars HERE.