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What can I expect from Buick Encore depreciation?
I’m looking for a small SUV to buy for my mom. She’s relocating to live out her golden years with me, but she needs her own sturdy vehicle. I don’t need a second car, so I’d sell it when she passes. What can I expect from Buick Encore depreciation?
Bonnie Stinson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
New cars depreciate by about 20% in the first year and 10% every following year, so Buick Encore depreciation may cancel out the value of buying a new car.
If you buy a new Buick Encore for about $25,000 today, you can expect its resale value to be about $20,000 after just one year. In five years, the resale value drops to about $13,000.
Some manufacturers have a strong reputation for reliability which translates to a strong resale value. Toyota tops this list—and the Buick Encore is toward the bottom of the list, unfortunately.
However, it’s not completely out of your control. A car’s condition, maintenance history, and mileage are very important factors in calculating the resale value. If you can keep your vehicle clean and safe, you can limit Buick Encore depreciation.
A good solution might be a used Buick Encore. You’ll save money on the purchase price and minimize your losses when it’s time to resell the vehicle.
Remember to make sure that your mom has the proper
car insurance
coverage. The free Jerry
app can help you find a policy for older drivers.View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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