Used vehicle prices reached $19,657, which represented a 2.2% year-over-year increase, the report noted.
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Depreciation can account for a large portion of a vehicle’s lifecycle costs. While there is no escaping from the fact that vehicles are depreciating assets, there are ways to control and minimize the depreciation costs you incur.
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As consumers and automakers continue to migrate away from sedans toward crossovers, there are no clear winners when analyzing total cost of ownership of individual models.
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Cars and truck segments both had the smallest weekly rate of depreciation since summer, with truck values decreasing by 0.3% and cars depreciating by 0.42%, which was consistents with the prior week’s depreciation rate.
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Over the past four years vehicle depreciation rates have remained below 14% for two- to six-year old vehicles, but that is anticipated to change for 2016. In 2016, depreciation rates are expected to climb to 15%. Further analysis of the market shows how cars, SUVs, and trucks fared in 2015.
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