Depreciation amount on your vehicle over time?

Submitted: Wednesday, Aug 29, 2012 at 21:33

ThreadID: 97730 Views:2022 Replies:4 FollowUps:3

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Axle

I have a mate thats updating his work mate hilux ute, Its a 07model with 200,000ks on it, He is willing to except $5,000 for it. With a few little extras its original purchase price was around the $22,000 mark. Now to skinflint me thats just to much to lose, anymore than $1500 a year than just keep it and providing its not totally falling to bits mechanically keep her going!,..But everyones different i guess.

Cheers Axle.

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Reply By: Member - Beatit (QLD) - Wednesday, Aug 29, 2012 at 21:54

Wednesday, Aug 29, 2012 at 21:54

Axle,

Mine's 10 years old and owes me nothing but I wouldn't get rid of it for any money right now. It really is a strange situation as i have always tended to hang onto my vehicles and therefore never really concened myself with resale values. Plenty of car sales types will sell you the resale values of a vehicle they are trying to flog but that really is getting the cart before the horse as i haven't bought it yet.

Kind regards

AnswerID: 493888

Follow Up By: SDG - Wednesday, Aug 29, 2012 at 22:09

Wednesday, Aug 29, 2012 at 22:09

Wish I still had my LH Torana and Sandman. Their depreciation went up after a few years.

FollowupID: 769535

Reply By: olcoolone - Wednesday, Aug 29, 2012 at 22:01

Wednesday, Aug 29, 2012 at 22:01

Everyone has different views and circumstances regarding vehicles, most of our non service vehicles get changed over every 2 to 3 years as it is not in our best interest to keep them longer.... the cost are absorbed in our general operating expenses.

On the other hand our service vehicles are kept for 6-8 years dues to the cost associated in setting them up but every year we have one getting upgraded.

The other thing you have to look at is maintenance costs and reliability once they get older.

If you have a breakdown and your going to loose $2500 per day in lost income plus the repairs the money you loose on the vehicle when traded is insignificant.

3 of our service vehicles have to be 100% reliable as the do remote and regional work that's time dependent and are on call 24/7.

The art is to sell them whilst you can still get good money for them.

AnswerID: 493890

Reply By: Member - Oldbaz. NSW. - Thursday, Aug 30, 2012 at 13:51

Thursday, Aug 30, 2012 at 13:51

G'day Axle, I assume this is a 97 model & not 07 ?. Now, I'm a noted skinflint too,
but that seems to be about right for a 15 year old car..$1500 a year like you said.
If you fork out $100k for a flash LC200 you will lose between $8 to $10 k per year
in the first 5 years ..that equates to $150 a week.
Now, I reckon if the fuel isnt the most expensive weekly cost of owning a car, you
paid too much for it...:)))). But I'm a tightarse that refuses to pay that sort of depreciation, & is comfortable driving an older car.
If all car owners were mean like me hardly any new cars would be sold, but someone
has to wear the used ones out.....cheers....oldbaz.

AnswerID: 493919

Follow Up By: Rockape - Thursday, Aug 30, 2012 at 19:11

Thursday, Aug 30, 2012 at 19:11

Young Baz,

I have a 1999 Hyundai Excel FF1 (standing for Fi--ng fast one) it has cost me the grand total of $230 for a temp sensor and 4275 for a front strut that was caused by the wheel aligners that would not have occurred if they had done the job once and right.

Price new $10000 and I can still get $3500 for it because it has been looked after.

$6500/ by 13 years = $500 a year.

When they came out many said they are a bucket of puss and I hear the same about the Great Walls.

You can't get much better than these results.

Dam the battery went just 2 days ago and it was over 5 years old.

I may drive the poverty pack but I still get there in the same amount of time. I can still ring 6 Km/Hundred out of it and if I flog it 7.5 Km/Hundred highway.

Do it easy
RA.

FollowupID: 769577