Click Here
Winter Car Guide
Smiling couple in car
auto
5 tips for buying a car in winter

Decide on buying an older model
Next
3 of 7
Back
Decide on buying an older model

The No. 1 cost that new car owners face is not gas, maintenance or insurance, but depreciation, Quincy says. If you buy the 2010 model that's still on the lot at the end of year or remaining on the lot at the start of 2011, it's already almost a year old. Even though it's a brand new car, it's already depreciated in value, he says.

"A leftover model, in general, can be a good deal if you're the kind of person who drives their car into the ground," Quincy says, noting that could be 100,000 to 200,000 miles.

"If you like to buy a new car every two to three years, the car already has a year's worth of depreciation."

On the other hand, some redesigned models hitting the showroom floors later in 2011 are not as good as what's still on the lot, which would give you another reason to go ahead and buy a past model.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Check credit before auto loan

The news that an auto finance company distorted consumer credit records for years is a good reminder to check your credit report regularly.  ... Read more


Connect with us