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
Lessmore wrote:
I buy new. I buy what I want and if possible try to factory order, so I get what I want, not just what's there. I pay cash, unless there's a good deal, like 0 % interest over a good number of years.
I think carefully what exactly I want, in a vehicle....as I plan to have them for a long time.
No impulse buying.
I buy extended warranties. I rust proof with Ziebart. I maintain by the book.
I drive my vehicles for years. One vehicle for 21 years, another for 14, another for 10 years. I usually have anywhere from 2-3 vehicles in my parking lot / garage at any one time.
When I'm finished with them, I feel I've got my money out of them.
I don't worry about depreciation as the way I do things, it's not much of a factor.
It has not really been something that I think about but I just realized that in my life I have purchased about 14 personal vehicles and none of them have been new. My pick up trucks have been purchased through my business and I have owned about 14 of them as well with only 2 that were purchased new. I do, however, pay cash for most stuff.
