What’s the best age to buy a used car?
The optimum age range for purchasing a used car is commonly recognized as falling between 2 to 5 years old. Within this timeframe, a car has traversed the steepest part of its depreciation curve while still maintaining relatively new and well-maintained conditions. A brand new car loses around 20% of its value after one year, according to LendingTree, an online lending marketplace. It loses nearly 60% of its value after five years. If you paid $32,000 for a car, truck, or SUV in 2020, its fair market value could be closer to just $12,800 after five years of depreciation.