My Car Loan Online offers an introduction to depreciation of vehicles. Car buyers are concerned about the depreciation of their car value over time. If you are purchasing a used car, it is better that you grasp the concept of vehicle depreciation. While you pay retail the moment you purchase a car, it is only worth wholesale price when you drive off in it. Here, are some basic tips regarding depreciation.
In the first year, a car loses 15-20%
In the second year, a car is valued at 80-85%, after its value in the first year
And in the third year, the car is valued at 80-85% after the value of the second year
Canadian Car Loans
A new car, however, will depreciate significantly in the first year because; retail price has been paid on it. The wholesale value can be recovered once the car has left its lot. My Car Loan Online provides access to a group of dealers and lenders who are willing to offer a pre-approved car loan, as well as ensure you gain access to accurate evaluation in the trade-off. Our network has been successful at putting the interest of our customers first.
We have satisfied thousands of customers in the last several years with My Car Loan Online specialized lenders. Apply for our credit application now!