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‘Your car’s value can drop all too quickly if you pick the wrong model’ The other day, while collecting my daughter from school, I overheard one of the other parents say that the trouble with buying a new car is that it will lose half of its value as soon as you drive it out of the showroom. The good news is they were either exaggerating for effect or just plain mistaken. The bad news is your car’s value can still drop by more than 65% over three years if you pick the wrong model. In fact, depreciation is usually the biggest single cost of running a car privately. It pays to choose carefully, then, and that’s why we always include resale values in the data section at the back of this magazine.…