Depressing Depreciation
In Alberta in 2011 my truck had a list price of just over $84,000. It could be bought for $70,000 cash. Now, three and a half years later with 62,000 miles on it I would be doing good to get $40k out ...
Forum Discussion
I can see why some folks prefer to always buy new cars (like my brother-in-law and my parents), but I am the opposite and always buy used, depreciation being one of the key factors... I usually get a 3-4 year old vehicle at a 50% discount from new, usually less than 50K miles on the clock, and I run them up to 140-150K miles before the wife and I get tired of it and move on to the next... :) Our current TV, brand new was about $32-35K, we bought it 3 years-old with 18K miles on the clock, for $17K, and have now put over 100K miles on it ourselves.
