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The Real Cost of Car Ownership

The Real Cost of Car Ownership

The sticker price is only the starting point. Do you know what you really pay for your vehicle?Your biggest vehicle expense? Your No. 1 cost of ownership? Depreciation, of course. “For the consumer, selecting a vehicle with a lower depreciation rate will reduce their overall cost-of-ownership,” says Canadian Black Book executive vice-president Larry Shred, whose company has long been a reliable source for used-car values. The CBB is used by dealers as a pricing guide to help them determine trade-in values. But savvy car shoppers can use the CBB’s “Trade-in Value” estimator (canadianblackbook.com) to calculate depreciation. By doing so, you can determine how much value your car loses over time – and get moving down the road to a complete understanding of what you’re paying for your daily driver. Figures in chart are dollars per kilometre. Source: Canadian Automobile Association and Glob ... read more

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