How much would you guess a used car decreases in value in a year?


Ary92
02-21-2016, 09:34 AM
I'm moving to the US for a year to finish my degree, and I know I'm going to have to get a car. I have the money to spend on it, but I'm not sure if I want to do a used $10K car or a used $15K car... it all depends on how much I can sell the car for again when I move back to my home country after around 11 months. I'm planning to both buy and sell the car to/from a dealership because of the simplicity.

I know this all depends on the make and model, miles etc., so my question is really purely to get a feel on how much I can expect to get back. I'm not planning on using the car for any very long trips.

If I buy a $10K car from a dealership, would I be able to sell it back for $8000? $7000? More, less...? I presume I would at least be able to sell it back for half the price of what I bough it for? I've been to the states before, but have no idea of how much car dealerships over there actually earn from buying/selling cars...

Thank you!

Stealthee
02-21-2016, 10:48 AM
There is no right answer to this question. It all depends on the car.

If you plan on selling back to a dealership they are going to give you as little as possible so they don't lose money when they sell it again.

Your best bet in your situation is to look into a short term lease. It will solve many issues with your situation and you will know exactly what you will be looking to "lose" in the end.

Ary92
02-21-2016, 11:39 AM
Initially I planned on leasing, but it seems to be difficult for international students as we have no credit rating? In addition I won't be turning 25 until three weeks before I'll be returning home anyway, so even if I could lease I think I would have to pay an underage fee. I also have no idea of how much it would cost anyways, as I can't find any websites to calculate the price, as you can with car rentals.

Stealthee
02-21-2016, 12:39 PM
Well you mention rentals, you can look into short term auto leases. Some rental places offer long term rentals. You might be able to work up a deal that way.

The whole being under 25 might throw a wrench into that as well though.

I really don't have what could be a good answer for you. Your best bet is to keep looking around and see what you can figure out.

jayshree
04-11-2016, 05:23 AM
There is no answer to this question.

If you are planning to sell your car just evaluate your car first and know your car value in the market. After which you can sell your car as you will be knowing your cars value correctly.

Also, the market value of the car might decrease as the cars wear out over time even if they aren't used. So its better to get the car evaluated first and then sell.

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