Does a car with three transfers depreciate in value?
1 Answers
A car with three transfers does depreciate in value. Insurance issues related to car transfer: In addition to depreciation, there are insurance issues when transferring a car. After the transfer, the insurance price will increase. Most insurance companies do not offer discounts in the first year of insurance after the transfer, and the price difference may be significant. Valuation and process of car transfer: During the transfer, a valuation is conducted, and certain taxes and fees must be paid. Re-registering the car also incurs costs. The process is quite cumbersome—for example, the car needs to be photographed again, re-registered, and you must queue to complete the transfer procedures.