October 28, 2021

MSVW-Auto

Beyond Automotive

FINANCIAL VALUE OF CARS IN SPAIN

3 min read

Wondering about purchasing a car in Spain? Many countries conventionally allow buying of reconditioned utilized vehicles which are probably not so old and have the age of almost one year. The used cars sold in the market hold magnificent contingency, functionally like fresh vehicles. In both scenarios, consumers get exposed to the detriment of depreciation as they step out of the seller holding car keys in hand. 

Some vehicle brands depreciate faster, and some maintain a slow pace in this regard like Mercedes and Audi cars hold their worth considerably more over the years than Citroen and Opel cars. OpinionesEspana highlights the customer’s experiences with different companies which will help you to get in the perfect decision. 

Car Possession

In Spain, the automobiles that retain their worth for stable time are diesel compressed cars. The worth of the cars can be calculated using varied website tools. Consumers can buy the latest model cars even from car fairs and brand outlets. Such cars were probably under the use of management and rental companies.

In some cities of the country like Madrid, Barcelona, and Valencia, car possession is not common among people. Individuals living there have the perception that the utilization of sharing car phenomena is better financially than owning one’s vehicle. Some valuable tips to get a car in Spain are also available to check out. 

Car depreciation

The notion of depreciation refers to the consumption of a tangible asset, which means that passing time decreases the financial value of the asset. If a consumer purchases a new car, the car will lose its monetary value by 17% during the first of its utilization. Then afterward, it deteriorates approximately 10% during the initial six years of the lifetime of the vehicle. Following these stats, it means that cars will deteriorate at about a 5% rate yearly. 

From the ninth year and after that, the vehicle will experience a small alteration in worth since the vehicle previously lost 84% of its usefulness. Some vehicles lose their worth swiftly like the luxurious ones. The worth loss of Volvo S80 will approximately be near 32.6% while Mini Cooper depreciates at the rate of 29.3%.

Car Prices in Spain

The prices of cars vary in Spain based on the nature of the brand. Cars manufactured in Spain are normally considered cost-effective than the ones imported to the country because of heavy-duty and import taxes. If travelers want to buy a car to cover long distances, the idea of buying a diesel car is good as they consume less cost of fuel than the cars that run on petrol. Local inhabitants and tourists both can buy cars in Spain after going through some legalities like registration and licensing etc. 

New car purchasing is expensive in Spain (cheaper than in the UK) and double the price of the value of vehicles in the USA. Spain manufactures a good quantity of new cars and is considered the seventh most epic car constructing country. The original cars built in the country are also exported across Europe. New car buying is expensive in Spain due to varied and additional taxes.

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