There’s nothing like the smell of a new vehicle but for some folks that smell quickly turns rank.
In a new study, automotive research firm and car search engine iSeeCars.com set out to discover if paying big bucks for a vehicle necessarily make the owners happier.
Indeed their research found that eight of the top 10 models that were resold as used within the first year with at least 1,000 miles on the odometer were luxury brands, led by Mercedes-Benz C-Class at 12.4 percent and BMW 3 Series at 11.8 percent.
“Despite the popularity of these vehicles, they generally have below-average reliability ratings from Consumer Reports, which could contribute to why owners get rid of them so quickly,” said iSeeCars CEO Phong Ly.
Breaking it down into the sports cars given up most often within the first year of ownership, iSeeCars found the numbers lower for that category. In fact, the Nissan 370Z led the way with just 7.1 percent resold within the first year.
The Chevrolet Corvette and Dodge Challenger were next at 6.4 percent, followed by the Ford Mustang at 6.3 percent and Chevy Camaro at 6.1 percent. The average for all sports cars was 6.1 percent.
We’re not certain that the results of this study should be taken as a slap on any of the vehicles involved. More than likely the owners that sell quickly may have had a change in their financial or family situations that required such drastic measures be taken. We also know more than a few owners who like to have the latest Corvette available or those that upgrade from one model to another in the same generation.
After all, how many people really would want to give up a new vehicle like a Corvette or a Mercedes if it wasn’t absolutely necessary? Furthermore, the depreciation hit in that first year should be enough to make any owner think twice about selling so soon.