Everyone knows that cars are depreciating assets and lose their value from the day you buy them until it's time to let them go. However, some cars are worse than others when it comes to plummeting values. We already covered 5 cars that retain their value, without any surprising results. On the other side of the coin are the following five cars that don't retain their value, so think twice before you drive one of them home from the dealership.
1) BMW 7-Series - The biggest and most luxurious offering by the Bavarian automaker comes with a huge up-front price tag which can stretch near the six-figure range. Unfortunately, after you're done impressing friends, co-workers, and strangers with your opulent ride, you'll cry when you realize how much it's depreciated. You can buy a 2001 model that was originally priced at $70,000 for around $10,000.
2) Volvo S80 - This one may be a bit surprising since Volvo has a solid reputation as a safe, and long-lasting car. However, after 5 years, the S80 is worth approximately only 18% of its original value on average. This is usually attributed to its bland and dated appearance, as well as the multitude of more popular options in the same vehicle class. In any case, this Volvo may last a long time, but its resale value will not.
3) Cadillac Escalade - Another luxury SUV on the list, the Escalade is a giant, regal gas-guzzler with a hefty price-tag. While the car is ostentatious and grabs people's attention, those factors don't translate to a healthy resale value. The $70,000+ SUV can be found for under $15,000, and even under $10,000 after only five years. This Caddy is a great place to put your money if you're interested in losing it quickly.
4) Chrysler 200 Convertible - You probably know this car as the successor to the Chrysler Sebring. However, despite the fact that it's a fun convertible, it's usually not worth much after a few years. This is primarily due to the fact that the car is very frequently used by rental-car services as their convertible offering. Since so many cars go out to rental lots, when they are taken out of use and resold, the aftermarket is flooded, driving the resale value down dramatically.
5) Nissan Titan - This one is also surprising, as the Titan appears to be an attractive, solid truck from a reputable Japanese automaker. However, looks can be deceiving, with the Titan dropping approximately 70% of its value after 5 years. This can be attributed to its poor fuel consumption, and the fact that it hasn't had a face-lift in years. So if you think your money will be safe by buying a big Japanese truck, think again.
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