SBT Car News

Your USED Car Could Actually Be Gaining Value!

neon-used-cars-sign

Yes you read that right. The used car you bought after months of saving and cost benefit analysis with the hope of driving it for a long time with the amount of investment you put in but knowing deep down in your heart that you would one day have to replace for some meager amount of money may actually be a blessing in disguise for you. You just don’t know it yet.

It does happen to certain cars for numerous reasons that they will be gaining value over time rather than depreciating. For the last year there has been 23 cars that have made the cut and gained value over time. A Chevrolet Malibu witnesses an increase of 4.1%, where as Kia Sorento bumped up to 4.8% from last year in value. One of the most impressive boost was experienced by Subaru Forester with a 5.8% increase from last year. One of the most highlighting factor in this analysis is that all these vehicles would have been bought as used cars missing the first year of most deep set depreciation. The effect is highly pronounced due to a number of reasons. Fuel thirsty SUVs were back on the list once the gas prices fell down, the weather and icy roads preferred more harsh and rugged vehicles, and numerous other reasons. So before you scratch your car off of the list and think of it as scrap, make sure you check it before putting it aside. It just might be the treasure in disguise for you.