One of the largest financial losses associated with purchasing a new vehicle is depreciation. Industry studies consistently show that many new vehicles lose between 20% and 30% of their value during the first year of ownership and approximately 50% or more within five years — even when the vehicle has no mechanical problems.
Certain vehicle categories depreciate more aggressively than others. Luxury vehicles, electric vehicles, and heavily optioned vehicles often experience steeper early depreciation, while trucks and certain SUVs may retain value more effectively depending on market conditions.
Consumers researching a vehicle purchase should review reliability ratings, NHTSA complaint data, recall history, technical service bulletins, and pending class action litigation before buying.
This website is for informational purposes only and does not constitute legal advice. Visiting this website or contacting our firm does not create an attorney-client relationship.
Over the past 31+ years, I have been devoted to standing up for consumers, tackling intricate class action consumer litigations, handling complex multi-district cases, and recovering millions of dollars for my Lemon Law clients. Being admitted in District Courts in Louisiana, Texas, California, Michigan, Florida, and Indiana, my practice has led me to represent clients all over the United States in my Lemon Law cases. Regardless of your location, my firm is committed to offering the highest level of professional support, especially in Lemon Law.