December 01, 2005
When to buy a new car?

This working paper by ADAM M. COPELAND, WENDY E. DUNN, and GEORGE J. HALL documents the decline in prices during the first model year of a new car. Not surprisingly, prices start high and decline over time. How much do prices fall? On average approx. 9.2% over the course of the first model year. Here is a great picture from the paper:

Posted by Craig Depken at 10:12 AM in Economics  ·  TrackBack (0)

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