Buying a new Honda Accord and then deciding two years later you need an SUV can make for a costly mistake, says Edmunds. The prospect of paying too much for a new vehicle often fills shoppers with dread, which explains why so many invest hours researching prices, trade-in values and interest rates.
Although this scenario is fictitious, the dollar amounts are real. The selling price, trade-in amount and effective depreciation percentage in this scenario were based on actual transactions in which 2017 Honda Accord LX models were swapped for newer vehicles in 2019. While a 40% loss is substantial, it is worth noting the Accord holds its value rather well compared to other vehicles in the market.
1. Consider variables that might alter your transportation needs. Is a change in family size on the horizon? Could a move - either home or work - be possible? Ensure your vehicle is equipped to handle not just your current tasks but your potential future needs too.
Buying a new car. You lose 50% of your money in 1hour. Buy a used car you lose 1% in an hour.
Thinking that they are making a good investment?
Buying new, leasing, and loans are the biggest mistakes people make
This is just common sense and a basic-level understanding of depreciation, interest, etc. Maybe lack thereof is a contributing factor to Canadian household debt of $1.74...
Number one mistake is being a vehicle not made by Honda or Toyota.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘We know we made mistakes’ on 737 Max, Boeing CEO saysMuilenburg, who was stripped of his title as Boeing chairman by the board earlier this month, will testify before the U.S. House of Representatives Transportation and Infrastructure Committee on Wednesday globebusiness No shite! globebusiness Dear Boeing: Putting a jet into operation, one that you discovered early in production from your own test pilots, that had a fatal design flaw, then withheld that info about that fatal design from commercial airline pilots, is not a 'mistake'. It was a conscious criminal act. globebusiness Understandable but in this industry, mistakes cost lives. No matter how tight the competition, never ever rush to production any modifications without backups for backups. Cutting corners not acceptable.
Source: globeandmail - 🏆 5. / 92 Read more »
Driver with beer can on dashboard fined $563 for speedingA driver is facing charges and a $563 fine for speeding and driving with several open cans of beer in the passenger’s seat, according to Halton Regional Police. Speeding drivers get fined more than that here in Saskatchewan... even without the beer. Nice. At what point do you not understand you are being pulled over and there is a can of beer on the dash.
Source: CTVNews - 🏆 1. / 99 Read more »
Want an island? Here are six you can choose from, including five off the B.C. coastWith five islands located off the coast of British Columbia, and a 5,200-acre property off of Ontario, buyers have the chance to create their own peaceful haven Cheaper than a house in Vancouver 😬 I doubt any Canadians will own one of these islands.
Source: nationalpost - 🏆 10. / 80 Read more »
Small oil-and-gas companies are getting the cold shoulder from big banksThe largest banking lenders to the sector are becoming more cautious, in a move expected to put further financial stress on struggling producers Are you surprised...there is no political will so there is no investment...wexit is the only solution Big banks protected by The Bank Act but who refuse to lend money to junior oil and gas companies even on terms totally favourable to the banks. cdnpoli
Source: nationalpost - 🏆 10. / 80 Read more »
Jason Pierre-Paul returns after neck injury from car wreck - TSN.caTampa Bay outside linebacker Jason Pierre-Paul is back after missing the first six games following an off-season car accident that resulted in a neck injury.
Source: TSN_Sports - 🏆 80. / 51 Read more »