Appreciating the value of depreciation

Courtesy of Richard PerryRichard Perry, The Hemet Car Guy. Greetings from the Hemet Car Guy, Last week I returned from the National Independent Auto Dealers Association. Boy there’s lots of good stuff going on. One of the things I learned was that the average person owns 13 cars in their lifetime, each costing an average of $30,000, according to a report by the National Automobile Dealers Association. So theoretically, if each of those cars was three years old, instead of new, you could save nearly $130,000 during your lifetime. The real money savings in a used car comes from the words “depreciation” or “residual value,” as leasing companies like to call

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