Depreciation Guidelines?
I've got a couple of questions about depreciation for a Class A Diesel RV. I frequently read that a new RV looses 30% of it's value the moment you drive it off the lot. I've also heard that you should...
Forum Discussion
Kayteg1 wrote:Mr.Mark wrote:
Like many of you said, it 'depends'.
We sold our 2008 Monaco Dynasty last summer (2014). We drove it 7.5 yrs. and put almost 70,000 miles on it. We bought it new.
We sold it and received 49.3% of what we actually paid for it in April of 2007 (not counting taxes). After paying the consignment fee, our percentage was 45.3%.
I thought the return was not too bad for 7.5 yrs. of enjoyment.
MM.
You don't count inflation in this explanation.
I bought several toys in last decade and after using them for several years I sold them for more than purchase price.
The deal was for example that I bought 4 years old boat for $11k when new one cost $25k
6 or 7 years later I sold the boat for $12k, but at the time new models were $50k.
We live in strange times. Due the fact that not too many people do have disposable cash, lot of new things can be bought for 40 cents on a dollar.
There was no inflation in those years. Ask people who tried to sell their homes, if they could.
You do realize that the Federal Reserve kept the interest rates at zero or near for a very long time, just now thinking about raising them. Home interest rates at less than 4-5%.
MM.
