Monday, September 24, 2012

Depreciation "Not Even a Real Thing" According to NADA Report

At a recent industry trade show, NADA President Victor Cardelli went on record to say that depreciation does not affect the average car owner at all. His comments were a part of a larger PR push to improve new car sales numbers, despite high unemployment and an increase in overall financial literacy among consumers.

"Do you really think that hard-working Joe Sixpack cares about some vague concept invented by those overpaid Wall Street accountants to pad their bonuses?" Cardelli continued, "We can get you $199/month lease payments with no money down. We can get you 35+ mpg to save you money on fuel. Why should you even care about some invisible number like depreciation?"

Harvard Economist Malcolm Freeman rebuked those comments, explaining that they were the "....most retarded....thing I've ever heard," continuing with several examples of the precipitous depreciation in the new car industry and a bunch of other charts and numbers that have absolutely nothing to do with $199/month with no money down and getting you in this car today.

Harvard Economist Dr. Freeman (photo credit:

Honda Financial Services CFO Akio Yokohama tacitly agreed with Cardelli, noting that a 2009 Honda Civic still costs just as much as a 2013 model.

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