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
My philosophy since I was a teenager in the 50’s has always been to work the window between the max depreciation and the big repair costs. In that era an engine lasted about 100k miles and an AT about 60k miles. So to get the most car for the money I bought a 2 yr old car and sold it when it was about 4 years old. For the cheapest total costs you bought new and kept it for at least 10 years.
I’ve since gotten away from the 2-4 year thing; I buy new and keep a vehicle until the wheels fall off or the repair costs get serious. My oldest vehicle is a ’73 Bronco and the newest a 2003 car. My TV is a 2001 and my TT an '89. So unless one keeps vehicles a long time I still think working the window is the way to go.
I’ve since gotten away from the 2-4 year thing; I buy new and keep a vehicle until the wheels fall off or the repair costs get serious. My oldest vehicle is a ’73 Bronco and the newest a 2003 car. My TV is a 2001 and my TT an '89. So unless one keeps vehicles a long time I still think working the window is the way to go.
