colliehauler wrote:
Lantley I agree with you 20 years or 300k miles. I put my truck money into investments instead of depreciating assets.
Lantley- 4x4's example would be more then a 17k difference if you figure the return on interest on all the funds spent. In my case 100k returns more then enough money to cover any repairs with a considerable amount left over. Then you have to figure sales tax on all those vehicles (here sales tax is 9.25 percent). Higher insurance rates. Here we have personal property tax each year which is higher the newer the vehicle with maximum devaluation after ten years.
My sister trades every couple of years, her last GMC Canyon had 15k miles when traded. At her age why not they have worked a lifetime and have the funds to do so.
Now if I had a business that I could write the expense of the truck off then I would take advantage and always drive new.
The 12% sales tax here in BC throws a major wrench into this plan as well. I used to trade my trucks every few years as well but I'm now approaching the age where I'm starting to concentrate more on retirement preparation and that includes keeping vehicles for much longer.
