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Is depreciation typically highest in the first year after new purchase? And so what would typically be the percentage drop between a new car and say a 5 year old secondhand model? Working on a new price of e.g. $28000, what would a realistic price for that car be at 5 years old - assuming good servicing and good condition now? Thanks

Hi there,
Generally new vehicles tend to depreciate by around 30-35% the 1st year and reach 50% by the 5th year before slowing from there.