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Do used cars depreciate in value as quickly as new cars do? Or does it happen less quickly?

April 26, 2017Autos buying cars depreciate motorcycles new cars Selling Transportation trucks used cars

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Do used cars depreciate in value as quickly as new cars do? Or does it happen less quickly?

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The new cars decrease their value the fastest while the used cars decrease slowly. Let’s take a 2007 Honda and a 1995 Ford. The new Honda price of the car is about 20K, while the Ford in about 2K. If we take a year in driving, the Honda will lose the most value. After one year, it can lose around $5,000, while the Ford may only lose $500. Once the price goes down, it takes a longer time for cars to lose their value.