When looking to buy a car, many people want to make a purchase that will hold its value and be easy to sell when it’s time to upgrade. However, not all cars are good investments in terms of long-lasting value and resale potential. Here are six cars that are quickly losing value in the market.
The Hyundai Genesis, a luxury two-door coupe, faces a depreciation rate of 38% in its first year, making it a poor investment for those looking for a car with lasting value. Similarly, the Kia Cadenza, part of Kia’s pseudo-luxury line, also loses 38% of its value within the first year, making it a better option when purchased used.
Luxury vehicles like the Maserati Ghibli are also not immune to quick depreciation. With a depreciation rate of 56.3% over five years, the Ghibli suffers from reliability issues and the use of lower-end parts, making it a risky investment for those looking to sell later.
The BMW 7 Series, known for its luxury features and advanced technology, also faces rapid depreciation, with a rate of over 50% over five years. The continuous release of new models with cutting-edge technology and high price tags contribute to its dropping resale value.
Large SUVs like the Ford Expedition and GMC Yukon are popular choices for families, but they also experience significant depreciation over time. The Ford Expedition has an average depreciation rate of 50.7% over five years, while the Yukon depreciates by 33% in its first year due to its gas-guzzling nature.
For those looking to make a smart investment in a vehicle that will hold its value over time, it’s important to consider the potential resale value of the car before making a purchase. Cars like the Hyundai Genesis, Kia Cadenza, Maserati Ghibli, BMW 7 Series, Ford Expedition, and GMC Yukon are examples of vehicles that are quickly losing value in the market due to a variety of factors such as reliability issues, high price tags, and poor gas mileage.
Ultimately, it’s important for car buyers to do their research and consider all factors when purchasing a vehicle, including potential resale value, reliability, and long-term cost of ownership. By choosing a car that holds its value well and is in demand in the used car market, buyers can ensure that they make a smart investment that will serve them well in the long run.
