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We are considering purchasing a new vehicle, but would like to get an idea of what the expected depreciation rate will be. (We have not purchased a vehicle since our 2005 Toyota Camry, while our other vehicle has been leased, currently a Hyundai Sonata)
Another, related question: We had originally intended to purchase a vehicle that was 2-3 years old, with 24-34K mileage (Toyota, Honda or Hyundai), but we are finding the prices for these are nearly as much as a new 2013 Hyundai Sonata, after all incentives and discounts. And there are VERY few of these vehicles sold by owners in our area. This is not what we are used to. Any comments?
Unless a member on this forum has access to Hyundai's financial services, you can ask the dealership, pretending you want a lease, or peruse Edmunds.com's forum for lease information on your potential car, or, if you're a member of PenFED, use their "payment saver calculator" to find the depreciation rate.
Rule of thumb is 20% the very moment new car crossed dealership gate.
This is why you buy cash and used off say craigslist.
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