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If You Buy These Cars, You’ll Lose a Ton of Money


rev up your engines, today by popular
demand not gonna talk about cars that have the worst value when they’re five
years old things, that you should think about not really buying, because really
people can talk all they want about what they think is good and what they think
is bad, when a car is five years old when its value has plummeted down, it’s telling
you there’s something wrong with that car
now depreciation is nothing new, started in the 1800’s with the railroad
companies, they created depreciation so they could show more profit, because they
wouldn’t be subtracting the cost of laying tracks, the cost of the trains all
at once it would be done over a period of time, making their yearly profits
look higher, and today if you apply the same stuff to your car, it shows each
year how much value of the car was used up through depreciation, now some
vehicles actually depreciate slower just because of people’s belief in what’s
popular like SUVs, buying used SUV their resale prices are really higher in the
United States because they’re extremely popular, now the first car I’m gonna talk
about is the 2013-2014 Chevy Impala that loses 66.4 percent of
its value by then, now there’s a lot of reasons behind it, first of all they’re
not to have well-made vehicles, my customers that were unfortunate enough
to buy them, they tend to fall apart at an early age, and a lot of them are used in
rental fleets so when those come to the market after a few years, it floods the
market makes the price go down, now I learned to drive on a Chevy Impala when
I was a kid, the thing ran basically forever, when the body started to rot out sold
it to the junkman down the street, he pulled the v8 engine out and put it in
his junk truck and drove it around for years longer, but the modern impalas
they depreciate pretty fast for many valid reasons, stay away from them, now the next
car that depreciates fastly is, no surprise
the Jaguar XJL, it loses over 66 percent of the value too, and of course that’s no
shocker, everybody knows those things are endless money pits, over the years i
had customers that just wanted a toy they’d buy one
even older than five years, maybe seven or eight years old, but they’d only pay
like three to five thousand dollars for a car there was a small fortune before,
in that case they paid anywhere between 80 and 90 percent less than the original
sticker price now yeah a luxury cars always depreciate
pretty fast anyways, because it’s always they’ve got the cutting edge technology
so everybody wants the new cutting technology every year, but in the case of
these Jags a lot of people have actually wised up, a large percentage of the
Jaguars in the United States they aren’t bought their leased, and guess what when
they come off lease the market is flooded with them, there’s tons of them out there
that drives the price down, I mean really the overall poor quality of Jaguars over
the last few decades in the United States almost everybody who knows cars know don’t
buy a used Jaguar unless you want a lawn ornament, now the next vehicle that
depreciates like mad over five years is the Mercedes s-class, and man do they
drop like a stone, I’ve seen s classes that originally sold for 120
grand going for $20,000 when they were five six seven years old, they just
dropped like a stone, not only do they cost a lot, but they also cost a lot to
maintain and they’re not as well built as you might think, I’ll give you an
example it happens to a whole bunch of them, they get oil leaks and you think a
little oily, big no big deal but I’ve seen a whole bunch of them that
I worked on myself, and what happens is the oil leaks into the wiring system and
then the oil wicks up, just like if you’ve got one of those little lights
the campfire lights, the wick and then it burns at the end and makes light, you’re
getting oil and it’s wicking up through the wiring system, and it’s bad news in
the Mercedes because some of these Mercedes have over 90 separate computer modules
well eventually that oil wicks through the wiring, gets to the computers and
Fries them out, I guess they weren’t thinking about that in Deutschland when
they built them, but a whole bunch of them have been wiped out by stuff like that
and in a car that can cost over $120,000 that’s inexcusable, so the market
rightfully says to the Mercedes s-class you’re not worth hardly anything as you age
now the next car that depreciates real fast is
a 2013 Nissan Altima, decades ago the Altimas were great cars, but hey
Renault bought up Nissan their quality has been doing down over time, and I’ve seen
the horrible transmissions blow up all the time,
I’ve seen them blow head gaskets in the engine, their not very well-made cars
and so the Nissan Altima their resale value is down, decades ago they had
really good resale value, not anymore now the next car that has plummeting
value when it’s five years old, is the Chrysler 200, that’s got a lot of Fiat in
it, Fiat engines, transmissions, notorious
for being unreliable, I had a customer with one
bought it for her daughter, taking it to college, the engine blew up on her way to college and
chrysler wouldn’t stand behind it, they had to pay for it themselves, and the
transmissions in these things were horrid, I
rented one years ago and I thought gee this car’s only got 6,500 miles on it, and
the transmission is already garbage, I
could tell that, sure it was a rental car and
people beat it but 6,500 miles and the transmission is already starting to act up,
hey even chrysler realized that when they don’t make them anymore, no more chrysler
200, now the last car I’m talking about with plummeting resale value in five years,
this is a 2013 volkswagen passat, what surprised a Volkswagen with values that
dropped like a stone, they have catalytic converter
failure, they have air conditioning compressor failure, and they
went to that GDI system, they have high pressure fuel pump failure where metal
fragments get to the fuel system and can destroy all kinds of stuff, so the
market has really took a dump on the passats you can get it a use Volkswagen cheap
there’s no arguing that, but do you really want one, I’ve got a customer
who had one with an automatic transmission that went out, wasn’t in warranty anymore
cost them over six grand to get that thing fixed, it was really more than the
car was worth, now if you’ve been listening you’ll realize there’s a lot
of luxury cars and sedans on this list and that’s because they are becoming
less popular, the sedans luxury cars have always plummeted quite
a bit, just because the snob appeal and if you’re gonna have snob appeal, you got
to keep getting a new car with all the fancy stuff on it, but sedans themselves
are becoming less popular and SUVs are taking over, so their values
don’t drop as fast as the sedans or luxury cars, so now you know a little bit
more about car depreciation, maybe what you should get, if you want to make a
wise choice about what you buy, so if you never want to miss another one of my new
car repair videos, remember to ring that Bell

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