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
FishOnOne wrote: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.
Spoken like a wise man... Heck we retired an old 89 Ford diesel two years ago. Looked like a pile of cr@p so we decided the image of this old truck wasn't in our best interest so it was finally retired to back up duty since it wasn't worth anything so we kept it.
Sometimes driving a heap vs new might not be saving you anything. Consider a guy driving an old heap who spends $300 per month on fuel and $200/month on repairs, He is worse off then the guy driving new who spends $300/month on lease payments and $200/month on fuel.
