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
kvangil wrote:
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.
That has been my practice for the last 10 years or so, too. I bought my current truck for about $20k under msrp, it had 29k miles, very clean, 2.5 yrs on the road, and 30k/3.5 yrs of powertrain warranty left on it.
Note -- it seems to me that often the luxury items depreciate a lot more, ie, you're not getting that extra $5-10k or whatever you spend on the King Ranch options, either, so that isn't helping the OP's case. If you want luxury, you gotta pay for it!
