Posted on 10/1/2010
The sticker price is only the starting point. Do you know what you really pay for your vehicle?Your biggest vehicle expense? Your No. 1 cost of ownership? Depreciation, of course. “For the consumer, selecting a vehicle with a lower depreciation rate will reduce their overall cost-of-ownership,” says Canadian Black Book executive vice-president Larry Shred, whose company has long been a reliable source for used-car values. The CBB is used by dealers as a pricing guide to help them determine trade-in values. But savvy car shoppers can use the CBB’s “Trade-in Value” estimator (canadianblackbook.com) to calculate depreciation. By doing so, you can determine how much value your car loses over time – and get moving down the road to a complete understanding of what you’re paying for your daily driver. Figures in chart are dollars per kilometre. Source: Canadian Automobile Association and Glob ... read more