Car Depreciation... What is it exactly? 🚗

Car Depreciation... What is it exactly? 🚗

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WHO AM I?
Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.

PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!

⏱️ Timestamps:
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[TopShotst]

I bought a 2 year old Honda Accord with 45k miles on it. For 40% off MSRP ($21k off $35k (Top end model)). Best decision I've ever made.

[Sawyer_]

I bought a 2004 Corolla which I paid 1700 bucks for five years ago and it still runs to this day with no problems. Now my brother drives it as his first car since my company gave me a car, best thing I bought.

[ohmygosh]

Nissan car depreciates its value just by taking it for a test ride.

[dylan-nguyen]

see this is why you should only get rare cars that appreciate!! 😂😂😂

[jamesstewart]

I bought one of the fastest depreciating cars ever, the BMW i3. But I got it used and don't plan on ever selling it.

[tristar]

I bought a new Tesla with plans to keep it for years. My car insurance dropped substantially, charging it at home costs $30 a month (I drive 2, 000 miles a month), and there are no more oil changes.

[alecddaniels]

A jeep wrangler for $50, 000 is highway robbery. Why does anyone still buy jeeps?

[matwx]

Bought a brand new car about a year ago. It already depreciated by over 20K USD. Smfdh.

[Maxmaxmax]

In 2016 I bought my used 2008 Elantra for $4, 500. After driving it for like 30k additional miles, I sold it for $5, 500 in 2021.

[bcataiji]

Buy a classic car. Not only will it have better styling, but it's value will go up over time.

[Uncle.Papi.]

Transportation should never be an investment nor a status symbol. This is why education is so important.

[notyou]

I’d rather just order a car online and have it delivered and lose the middle man. It isn’t necessary nowadays to go directly to the lot nowadays unless you just want to test drive it first and then go back and make the purchase online.

[martinguldnerAutisticSwanGuru]

Only way I would buy a used car if has a warranty for at least 2 years. People don't realize how much money they sink into a used car for repairs.

[MrQuint]

Will be worth this but you’ll be able to sell to the dealer for 40 since they want to sell it for 45.

[Kate-ndrl]

Which is why I buy used cars from private owners.

[TheHomi]

I actually bought a new car this year but the interest rate was 0% and got life time powertrain warranty

Seemed like a better deal rather than doing 5+ % on a highly marked up used car

[bobhilly]

Also if driving it a minute depreciates it. Then test drives would make vehicles cheaper

[Nardo_stpierre]

Who would buy anything Jeep or Dodge is beyond me

[Przybylski]

I work in the car industry and I fundamentally disagree with you on this topic. You should not buy a used car, unless you cannot afford a new one. If they sold the vehicle after 3 years, that means something is wrong or they didn’t like it and most likely did not perform the recommended maintenance.

[JoseFernandez-ddid]

Please do a zvideonon the 2025 Toyota Sienna or the LEXUS ES350 ❤