Automotive

Need help buying 2nd family car - lowest depreciation

  • Last Updated:
  • May 3rd, 2016 2:36 pm
[OP]
Member
Sep 21, 2008
248 posts
22 upvotes
Calgary

Need help buying 2nd family car - lowest depreciation

Hey guys,

Would appreciate some help here.
Am looking for a 7-8 seater van or SUV for about a year and a half. I want to buy a reliable car and resell it in about 15-16 months.

Looking for a car with low spread between buy and sell price. I can buy without taking any debt. Would prefer less than $30k, but can spend up
to $40k if required. I don't believe I will drive more than 15k km in the car. Looking for 2011 or newer cars with decent features - back cam is a must as wife will drive it.

Should I buy a new or used car?
Which car would depreciate the least in a year?
Would buying a relatively new car with high mileage and selling it mid next year help with the cost difference?

Any pointers appreciated!
2 replies
[OP]
Member
Sep 21, 2008
248 posts
22 upvotes
Calgary
Thanks, yes Sienna is on the shortlist.

Caravans or Sedona or town and country would have low purchase price but would be difficult to sell quickly without much depreciation?

Sienna or Odyssey would cost higher but probably sell faster at lower difference in prices?

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