View Single Post
Old 12-01-2023, 03:35 PM   #34 (permalink)
redpoint5
Human Environmentalist
 
redpoint5's Avatar
 
Join Date: Aug 2010
Location: Oregon
Posts: 12,441

Acura TSX - '06 Acura TSX
90 day: 24.19 mpg (US)

Lafawnda - CBR600 - '01 Honda CBR600 F4i
90 day: 47.32 mpg (US)

Big Yeller - Dodge/Cummins - '98 Dodge Ram 2500 base
90 day: 21.82 mpg (US)

Mazda CX-5 - '17 Mazda CX-5 Touring
90 day: 26.68 mpg (US)

Chevy ZR-2 - '03 Chevrolet S10 ZR2
90 day: 17.14 mpg (US)

Model Y - '24 Tesla Y LR AWD
Thanks: 4,207
Thanked 4,388 Times in 3,362 Posts
Quote:
Originally Posted by Isaac Zachary View Post
Doing some quick math, I noticed a Camry (maybe other cars are different) loses about 1/3 of it's value in 5 years. So a $30,000 becomes $20,000 in 5 years. If you plan on keeping the car 15 years, then it's going to cost $10,000 per every 5 years regardless if you buy new or 5 years used.
That isn't typical.

Typical is;
10% depreciation driving off the lot
15% total depreciation in the year
50% total deprecation at 5 years
10% depreciation of remaining value every year after

Whacky used car pricing due to WuFlu response now has used cars at 40% depreciation after 5 years. We should expect things to return to normal at some point.

An example of a car retaining 70% value at 5 years is very atypical. Don't know why the Camry in specific retained value so well compared to the others.

My worthless anecdote is I paid $17k for a 4 year old car that sold for $30k when new. Another year of 10% depreciation would put it right at half value in 5 years.

My point is, someone can have a new Chevy Aveo with no AC, or for the same money can have a 4 year old Acura... or they can spend half as much on a 5 year old Aveo.

EDIT: After a decade and a half of avoiding Twitter, I now have to get an account if I want to see the Cybertruck delivery event. I don't even know what videos are doing on a stupid limited-character texting platform.

EDIT2: I keep clicking on the X logo thinking that's the X to close a window. Genius making a logo look like the universal close symbol.
__________________
Gas and Electric Vehicle Cost of Ownership Calculator







Give me absolute safety, or give me death!

Last edited by redpoint5; 12-01-2023 at 03:46 PM..
  Reply With Quote