They say that a new car depreciates in value the minute you drive it off the lot. But for many of us, what our new ride will be worth if we decide to sell it later is a big factor in the initial purchase.
Jack Nerad, executive market analyst for Kelley Blue Book, said that resale value is “arguably the top factor” in a new car purchase, although it is often also the most neglected. If you don’t know what your car will be worth in a few years, it could end up costing you money when it comes time to sell.