Finance expert urges people to not buy new cars for one simple reason

A finance expert-turned-TikToker is imploring people to not buy new cars for one, singular reason: car depreciation.In a TikTok shared on Jan.

6, Humphrey Yang uses the BMW 530i xDrive as an example to prove his point.The car, which comes with driver assistance technology, sells for $56,500.“You should never buy it new because, after the first year, it loses 26 percent of its value, and it’s only going to be worth $43,000,” he says.Yang says that, to get the optimum value from a vehicle, it’s best to wait until most of the car depreciation is gone.That usually happens around the fourth year.“If you want to get the most out of your money, try to buy a car that’s three to four years used with low mileage,” Yang concludes.Yang’s TikTok has since been viewed over a million times.“Thank you!!!!!

I am getting a car this yr and want to make a smart choice,” one person said