Finding a car's depreciated value
Dear Driving for Dollars,
How do I find the depreciated value of a "new car"? I'm interested in buying a 2008 Kia Sedona EX that has not been owned by anyone and has less than 50 miles on the odometer.
Keep in mind that this car is nearly two model years old; the 2010 models will be available this fall. So you should expect a hefty discount since it would be viewed as a "used" car even if you were to sell it almost immediately. Go to a reputable vehicle pricing site such as Edmunds.com, Kelley Blue Book or NADAguides.com, and use the used-car pricing calculator to get a feel for an appropriate price by listing the vehicle's current mileage and the top quality for the condition as well as adding in any applicable options for the exact Sedona you are considering. At the time of publication, Kia was offering a $5,000 cash rebate on all remaining 2008 model year Sedonas, so if you do decide to buy this vehicle, you should factor that into the final price as you negotiate with the dealer.
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