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Used car vs new car prices


Used car vs new car prices
Lott argues that it is only a common myth that a new car loses 15% - 25% of its value when it first leaves the lot.


Used car vs new car prices
He backs up this argument through analysis of new and certified used car prices using manufacturer MSRP; Kelley Blue Book New, Used,Excellent Condition Trade-in, and Private Party prices; and Yahoo! Auto Certified Used prices for 55 certified used cars (15 with less than 5,000 miles and 40 with about 15,000 miles).


Used car vs new car prices
Lott demonstrates that the cars with 15,000 miles on them (about a year's worth of driving) are substantially less valuable than the relatively new cars with less than 5,000 miles.


Used car vs new car prices
A few of the cars with less than 5,000 miles were actually worth more than MSRP.

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