Older domestic models can be an exceptional deal. For instance, a 2004 Buick Regal with low kilometres sells for $2,600-$4,400, according to the Canadian Black Book of used-car valuations.GM
The new-vehicle marketplace is awash with zero per cent financing deals and cash-back giveaways, and while they are attractive up front, buyers may find themselves paying a price down the road.
Incentives generally accelerate depreciation rates on most vehicles, both domestic and import. Those deals push down the value of used cars by creating a glut of them on the market. The value of that rebate you get today may be eaten up in accelerated depreciation down the road.
That is one argument for holding onto a new car of light truck for six, seven or eight years, perhaps more. On the flip side, car shoppers looking for a good deal on a three- and four-year-old set of wheels might want to shop among models from manufacturers who have offered the richest sweetheart deals in the past few years.
For the most part, buyers can expect foreign brands such as Honda, BMW, Toyota and Volkswagen to hold their values best. Domestic brands who have been exceedingly aggressive with incentives for many years, often lose their value the most quickly.
In fact, an older domestic can be an exceptional deal. For instance, you should be able to find a 2004 Buick Regal with low kilometres for $2,600-$4,400, according to the Canadian Black Book of used-car valuations. That is a small price to pay for a solid used car that Consumer Reports at one time named the most reliable car in the industry.