Jul
05

Worth Less Used Cars

The Friday File: Wonder why driving a new car off the lot reduces its value by 25% or more? One reason has to do with the retail showroom price versus the resale/used price. The other has to do with car quality. Why return a new car unless it’s a lemon or suffered non-visible damage? Thus, even if the car is perfect, its price incorporates the probability that it’s damaged goods.

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