By Peter Valdes-Dapena | CNN Business
Typically, a new car is considered a bad investment because it loses a big chunk of its value the minute you drive it off the dealer lot. That’s unless you bought that new car during the pandemic.
In that case, you likely made an amazing investment because you could now possibly sell your one-year-old car at a profit or, at least, get back nearly what you paid for it, according to an analysis Edmunds.com conducted for CNN Business.
Normally, a dealer selling a one-year-old used car will get about 80% to 85% of its original price, according to Edmunds.com. But, according to the site’s most recent figures, car dealers can now sell one-year-old used cars for about 95% of the original price. That’s the average. And some used cars and trucks are worth even more than they cost when they were new.
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