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  • William Maley
    William Maley
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    Used Car Prices Expected To Fall In 2015

      Good News for those planning to buy a used car

    If you are considering buying a used car this year, then we have some good news for you. A new vehicle depreciation report from used car value service, Black Book and Fitch Ratings Inc., says that 2015 will see used car values depreciate 14.5 percent. This is an increase from 2014's deprecation rate of 12.1 percent.

    So why the increase in depreciation? It comes down to two key factors; an increased supply in used cars and a larger volume of off-lease vehicles.

    “2014 depreciation was defined by pockets of volatility due to seasonality, harsh weather patterns and falling fuel prices impacting smaller cars and trucks of all sizes. Looking ahead, lower consumer demand and CAFÉ-driven model competition will place higher depreciation pressure on smaller car segments particularly, but trucks should have stable retention in 2015 due to balanced production levels and strong housing and service economies,” said Anil Goyal, Vice President of Analytics and Strategic Partnerships for Black Book.

    Source: Auto Guide, Kicking Tires

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    I can only hope my Avalon stops it's sinking depreciation. I swear, every time I think I'm close to finally having it paid down below its value, it's dropped another couple grand. Toyota dependability? Proven. Toyota value retention? Pfft. It's really bites me in the ass when I realize how at the time I bought the Avalon, it was worth more than my Legacy (all things considered equal) and now it's worth much less. It's still held onto a fair amount of value for its age, but that just hurts.

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    Good news for buyers and bad for sellers, because there are people who buy a new car a true price without much use, then this person should sell it cheap. Good information colleague, thanks for sharing and good luck for buyers and sellers.

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