Used Car Prices Expected to Drop in 2015
February 12, 2015
The annual depreciation rate for used vehicles in 2014 was 12.1% and that number is expected to rise as high as 14.5% in 2015.
An article on Cars.com says these depreciation rates may seem high, but in reality the levels are going back to normal following very low depreciation rates of 7.7% in 2011.
The report also takes a look at quarterly and annual depreciation by vehicle segment. For instance, luxury cars had the highest depreciation at 18.1%, while some vehicles -- such as full size van wagons -- actually appreciated by 3.5%. Below is a copy of the 2014 Depreciation Rates by Segment chart from the Black Book report.
My Recommendation for Car ShoppersTrueCar No-Haggle, CarsDirect, and Ryde Shopper are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
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About The AuthorGregg Fidan is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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