Automotive research firm iSeeCars.com has compiled a list of the 10 cars that depreciate the most.
The list includes four BMWs and one Nissan, Acura, Ford, Jaguar, Chevrolet, and Maserati.
The Maserati Quattroporte tops the list at a 72.5% depreciation of five years.
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According to a study done by automotive research firm iSeeCars.com, the Maserati Quattroporte has the highest depreciation, dropping 72.2%, about $95,393, between 2014 to 2019.
The list is a combination of six luxury sedans and four electric vehicles, dropping an average of 49.6% within five years.
“Luxury cars have steep depreciation because owners likely trade them in when they become outdated and used car buyers don’t want to pay a high premium on a dated model,” iSeeCars CEO Phong Ly said in a prepared statement.
She also claims the resale value of luxury cars are affected by the high maintenance and ownership prices.
As for electric vehicles, Ly predicts its depreciation is because of older government incentives, causing resale values to be decreased becuase they’re based off of lower post-incentive MSRPs.
“Outdated technology also contributes to their dramatic depreciation as well as range anxiety,” he continued.
iSeeCars.com analyzed over 6.9 million new cars from the 2014 model year that were also sold that year. The numbers were then compared against more than 800,000 used cars from the same model year sold from January to October 2019. The new car prices from 2014 were adjusted for inflation by 7.9% to match the 2019 dollar.
Keep scrolling to see the list:
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10. Chevrolet Volt: 68.1% depreciation, about a $27,282 difference.
9. Jaguar XJL: 68.9% depreciation, about a $66,879 difference
8. BMW 6 Series: 69% depreciation, about a $69,524 difference
7. Ford Fusion Energi: 69.1% depreciation, about a $29,590 difference
6. Acura RLX: 69.2% depreciation, about a $42,913 difference
5. BMW 5 Series: 69.2% depreciation, about a $44,673 difference
4. BMW i3: 70.9% depreciation, about a $38,922 difference
3. Nissan LEAF: 71% depreciation, about a $25,350 difference
2. BMW 7 Series: 71.3% depreciation, about a $75,550 difference
1.Maserati Quattroporte: 72.2% depreciation, about a $97,178 difference
Source:: Businessinsider – Tech