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
CKNSLS wrote:Bionic Man 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.
Sounds similar to the Dave Ramsey school of thought. I will not say that is the wrong school, but I will say that VERY few people follow that.
If I followed Dave Ramsey's advice I wouldn't have been able to retire at 56........
If anybody wants an explanation you can PM me.
I actually can't see there being a whole lot of difference in cost of ownership one way vs another. Even if you bought 3 new vehicles every year vs keeping them for 20 years I'll bet the difference in the amount of money you have in the bank, at the end of 30 years would be less than $150,000.
