Forget the 25 percent automatic drop
Published July 26, 2007 by Ray Champagne
It appears that the conventional wisdom about new cars losing a good chunk of their value the minute they’re driven off the dealer’s lot doesn’t hold up to real-world scrutiny, at least according to a story I came across while browsing Foxnews.com.
Driving the Lemon Myth off the Lot kinda makes me wonder who started advocating the “conventional wisdom” in the first place.
Filed under Boyd
The 25% drop upon leaving the showroom floor is a myth with no basis in fact. The more important fact in the Blue Book is that only 2 of the top 10, in resale value, the #5 Mustang, and #8 Jeep Cherokee, are made in the US. 8 of the bottom 10 are made in the US. That’s pathetic, and an economic negative for the automakers, workers, and the US economy as a whole.