Your PA used car dealers want to make sure you make the best financial decisions when it comes to buying or selling a car. During these times of high gas prices and depreciating SUVs, many people want to sell their larger vehicles and get a more efficient car from our PA used car dealers. But that might not be the best decision right now.
We know money is tight for some SUV and truck owners right now. But if you sell your large vehicle and you haven’t owned it very long, you could be losing more money than you’re going to save in the long run. A new study by Consumer Reports revealed that soaring gas prices are not the most expensive aspect of owning a large vehicle. In fact, the biggest cost is depreciation. The amount of depreciation for SUVs and trucks right now is nearly 50 percent. That’s more than double the cost of fuel, which is around 20 percent.
“The first three years of owning a vehicle is the most expensive time,” explains deputy automotive editor at Consumer Reports, Jeff Bartlett. Cars, especially new cars, lose a great deal of value during the first three years.
Right now, the best thing to do is to hold on to that SUV or truck if you’ve purchased it in the last three years. But that doesn’t mean you can’t get a more efficient vehicle at your local Mercedes-Benz dealer for everyday driving. It might not seem like you’re saving money, but waiting to sell that used SUV is often a good idea.
