8 fastest depreciating cars in America

[leggy]

and the Genesis isn't one of them
https://www.autoblog.com/2018/02/26/8-fastest-depreciating-cars-in-america/

 

[Genny Sweet 16]

Nice find. I suspected Toyota because of how many are running around out there, but was a little amazed the Mercedes Benz made this list.

 

[Mark_888]

Nice find. I suspected Toyota because of how many are running around out there, but was a little amazed the Mercedes Benz made this list.

I wouldn't take that article seriously. Autoblog content is provided by freelancers who get paid almost nothing, and know very little about what constitutes a valid statistical inference.

 

[Akin67]

I love the Genesis and just replaced my 2011 with a 2018 G90. However, I do think it depreciates more significantly than some of the other brands. By way of example this year I sold a 2008 Sienna Limited with 75,000 miles on it for about $10k. This vehicle was originally purchased for $32k. Just last week, I sold my 2011 Genesis Sedan, with 73,000 miles, also purchased for around $32K originally for $9,500. Although the Genesis was newer by 3 years, cleaner without a scratch on it, it was commanding considerably less than I expected. Although I love the Genesis brand I don't think they do well on depreciation. But as you can see this alone was not sufficient reason to keep me away from the Genesis. I think they are excellent cars and even better values for what you get.

 

[GODZUKIHOP]

My question is depreciation based upon sticker price or not.
I have purchased 2 Genesis vehicles and have not paid close to the sticker price either time.

 

[GarnetTy1473]

I love the Genesis and just replaced my 2011 with a 2018 G90. However, I do think it depreciates more significantly than some of the other brands. By way of example this year I sold a 2008 Sienna Limited with 75,000 miles on it for about $10k. This vehicle was originally purchased for $32k. Just last week, I sold my 2011 Genesis Sedan, with 73,000 miles, also purchased for around $32K originally for $9,500. Although the Genesis was newer by 3 years, cleaner without a scratch on it, it was commanding considerably less than I expected. Although I love the Genesis brand I don't think they do well on depreciation. But as you can see this alone was not sufficient reason to keep me away from the Genesis. I think they are excellent cars and even better values for what you get.

I would compare similar cars, not against a minivan. Those things are in a league of their own, and always demand a higher value. I traded in a 2012 Honda Odyssey Touring Elite on my G90. Had 90k miles on it, and they gave me $17,500 for it. Stickered for $44,500. They turned around and sold it 2 days later for $20k

 

[Mark_888]

Calculating depreciation is very difficult, because they always calculate it as a discount from MSRP. So if a new vehicle is sold with a $8K discount, then that counts against the depreciation.

Also, when a model is undergoing a major change the next year (like the Camry), the last year of the old design will have more deprecation than normal (in addition to more discount from MSRP).

Several years ago, someone posted a study that said Hyundai Genesis was the car that depreciated the most. You cannot take any of these stories as being accurate.

As the old saying goes, there are lies, damn lies, and statistics.

 

[turnne]

I would compare similar cars, not against a minivan. Those things are in a league of their own, and always demand a higher value. I traded in a 2012 Honda Odyssey Touring Elite on my G90. Had 90k miles on it, and they gave me $17,500 for it. Stickered for $44,500. They turned around and sold it 2 days later for $20k

I agree with you
Not only that though...you have to compare cars that were similarly priced when new
ie..you cant compare a Mercedes S class to a Bentley
Different classes of buyers have different expectations on what they will pay for a specific class of car

Warren

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Calculating depreciation is very difficult, because they always calculate it as a discount from MSRP. So if a new vehicle is sold with a $8K discount, then that counts against the depreciation.

Also, when a model is undergoing a major change the next year (like the Camry), the last year of the old design will have more deprecation than normal (in addition to more discount from MSRP).

Several years ago, someone posted a study that said Hyundai Genesis was the car that depreciated the most. You cannot take any of these stories as being accurate.

As the old saying goes, there are lies, damn lies, and statistics.

Sure..it counts against the depreciation
You also have to take into account that the manufacturer is discounting the price to sell cars in the first place...if they were selling without the discount it would not be offered

I have seen the same study that the genesis had very poor resale....from my calculation the Equus was even worse and I expect the G90 to follow suit

There is good news here though for those that buy cars 3 years old after their lease is up

Warren

 

[Mcc]

I agree with you
Not only that though...you have to compare cars that were similarly priced when new
ie..you cant compare a Mercedes S class to a Bentley
Different classes of buyers have different expectations on what they will pay for a specific class of car

Warren

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Sure..it counts against the depreciation
You also have to take into account that the manufacturer is discounting the price to sell cars in the first place...if they were selling without the discount it would not be offered

I have seen the same study that the genesis had very poor resale....from my calculation the Equus was even worse and I expect the G90 to follow suit

There is good news here though for those that buy cars 3 years old after their lease is up

Warren

But then you end up with a car that is 3 years old. If you are ok starting off with technology and wear and tear that is 3 years old then that’s up to each individual.

 

[BlancaGenny]

But then you end up with a car that is 3 years old. If you are ok starting off with technology and wear and tear that is 3 years old then that’s up to each individual.

Bought mine 2 months ago, it was a lease that sold in May of 2015. The only thing missing that I would like is wireless charging. The lesser technology in my car, the better. I'm there to drive it and enjoy the drive. I still have the 6S Plus so they don't have the capability for wireless. I'm sure my next car will have it but I am, by no means, missing out from buying a '17 or '18. And yes, it depends on the person. Get a CPO, look closely at the car, can't go wrong with it. No dealing with depreciation either if you buy.

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[EdP]

Bought mine 2 months ago, it was a lease that sold in May of 2015. The only thing missing that I would like is wireless charging.

I have it. You are not missing much. Very slow

 

[Mcc]

I am just guessing but I think that most people will have gotten a good enough deal on their 17/18 lease that they will be buying the car instead of turning it back in after 3 years. Newer model years will have an increased price making their residual still look good.

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I am just guessing but I think that most people will have gotten a good enough deal on their 17/18 lease that they will be buying the car instead of turning it back in after 3 years. Newer model years will have an increased price making their residual still look like a good deal.

 

[karasdad]

Figured that all these luxo barges depreciate faster than most vehicles so I bought a pre owned 2017 G90 3.3 Htrac with 9600 miles on it for $54,450. Felt it was a pretty good deal since there wasn't much difference in a 2018 but about $14K cheaper. Dealer also restarted the clock on the Genesis Cnnected Services and set it up as a new account so I get the 3 yr/36000 mile coverage included. Had a few extras like the window serial number etching thrown in.

 

[lou1119]

Nice find. I suspected Toyota because of how many are running around out there, but was a little amazed the Mercedes Benz made this list.

I sold my MB S Class and bought a 2018 G90 Ultimate. I have owned MB's continuously since 1968 and can assure you that they depreciate as though they are in an elevator shaft. Many were AMG's or SL's and the depreciation is frightening. Don't get me started as to why I gave up the ghost on MB;s.

 

[larrymg1]

Check out the G80 on this impressive list:
10 Luxury Cars with the Highest Residual Value

 

[turnne]

Check out the G80 on this impressive list:
10 Luxury Cars with the Highest Residual Value

Some issues with that list
Are they doing it by class..or what

a Mercedes S class is on that lost and its not know for high resale...and neither has the Genesis

Warren

 

[YEH]

^ Wait, thought it was an impossibility for a Mercedes (or other lux German owner) to ever consider purchasing a Genesis?

Much less an S Class owner.

I sold my MB S Class and bought a 2018 G90 Ultimate. I have owned MB's continuously since 1968 and can assure you that they depreciate as though they are in an elevator shaft. Many were AMG's or SL's and the depreciation is frightening. Don't get me started as to why I gave up the ghost on MB;s.

 

[turnne]

^ Wait, thought it was an impossibility for a Mercedes (or other lux German owner) to ever consider purchasing a Genesis?

Much less an S Class owner.

well...the fact that they are selling 4X more S classes than even the most expensive Genesis speaks to a different owner and popularity

My point was that are they considering these cars in price points or what?

Look at what I posted the last couple of years about the G90...sales figures..depreciation etc
And let me know which things haven't rung true..

Warren

 

[YEH]

^ So what?

The S Class outsells the 7 Series, A8 and XJ combined and they all can be had for less than the S Class.

No one here has ever claimed that the G90 was going to be a big seller, but sales have remained steady (compared to the Equus) despite a price hike.

And it has outsold the A8, XJ and the LS 460 (yes, the LS 460 was long in the tooth, but many doubted that the G90 would ever outsell the Lexus flagship).

 

[joneillnj]

^ So what?

The S Class outsells the 7 Series, A8 and XJ combined and they all can be had for less than the S Class.

No one here has ever claimed that the G90 was going to be a big seller, but sales have remained steady (compared to the Equus) despite a price hike.

And it has outsold the A8, XJ and the LS 460 (yes, the LS 460 was long in the tooth, but many doubted that the G90 would ever outsell the Lexus flagship).

The A8 is quite long in the tooth as well and it’s a total redesign for 2019. I suspect that will greatly improve A8 sales numbers.