Are cars a good investment? We look at the top and bottom models and types for depreciation

---

Do you look at your car purchase as a way to get from Point A to Point B? Do you look at it as a way to make money on your automotive investment? Or do you just want a vehicle that won't depreciate ridiculously the moment you drive it home?

However you slice it, it seems the only way you're going to not lose much moolah on a car purchase is to drive it long enough – while keeping it in pristine condition – to have it qualify as a classic suitable for auction. And that's a crap shoot anyway.

That said, some vehicles depreciate worse than others.

According to an iSeeCars study, which they say in a press release analyzed over 1.1 million vehicles sold from November 2022 to October 2023 to determine five-year depreciation rates, depreciation was lower "across all major segments than in 2019, with the average used car holding its value 10.8 percent better than it did pre-pandemic." That may be good news for those who want to sell their used car, but it's bad news for those looking for a bargain in a used vehicle. Depending on the vehicle, of course.

Support Canada Free Press