car depreciation
Thread Starter
Melting Slicks
Joined: Oct 2004
Posts: 2,187
Likes: 173
From: Nevada
car depreciation
Hi guys I understand a brand new car depreciates the most, now from this site it says after 8 years the car doesn't really depreciate anymore is that right? Car depreciation | AA I think it still depreciates but just a lot slower maybe? If that's the case then get an 8 years old car...and fix the car yourself or find a not totally beat 8 years old car that still runs ok. That way you save the most money on cars is that right, and also insurance!?!! almost forgot about insurance.
but if you want the car to depreciate not so much but also want it semi-new and reliable. Would you guys say it will be around 2, 3 years old cars?
Now for bikes I heard after 4, 5 years their value tend to stay the same is that right? after 4, 5 years they don't depreciate much anymore. what's your guys take on depreciation of cars, how to take the least depreciation but still get an ok car. thanks guy
but if you want the car to depreciate not so much but also want it semi-new and reliable. Would you guys say it will be around 2, 3 years old cars?
Now for bikes I heard after 4, 5 years their value tend to stay the same is that right? after 4, 5 years they don't depreciate much anymore. what's your guys take on depreciation of cars, how to take the least depreciation but still get an ok car. thanks guy
Melting Slicks
Joined: Nov 2007
Posts: 3,475
Likes: 10
From: Wake Forest NC
I bought my '04 Coupe in '07 and paid two thirds of what the car cost new. Further, it had less than 7000 miles on it. So basically, the guy before me depreciated my car to a great extent, and I got what amounted to a new car (with the new car smell.)
Given that many who buy brand new 'Vettes sometimes don't drive them much, if you can find a super-low mileage three year old model, you're getting the best of the best, in my opinion.
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Given that many who buy brand new 'Vettes sometimes don't drive them much, if you can find a super-low mileage three year old model, you're getting the best of the best, in my opinion.
.
Team Owner
Joined: Mar 2004
Posts: 58,498
Likes: 1,817
From: Oklahoma City OK
C6 of Year Finalist (appearance mods) 2019
A new car depreciates the most when you drive it off the lot, then it slows down greatly. I always buy cars that are at leaset a year old. Cars in general are a terrible investment.
Administrator
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From: In a parallel universe. Currently own 2014 Stingray Coupe.
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I bought my '03 coupe in '09 and paid $25K for a car that originally stickered at $52+K. Car only had 8500 miles on it at the time. It has gone down in value since, but still looks and runs like new so I'm a happy camper. I didn't buy it for an investment but at some point the rate of depreciation does slow down and in some cases (depending on the car, options, condition, the marketplace, etc.), it may eventually appreciate some.
Thread Starter
Melting Slicks
Joined: Oct 2004
Posts: 2,187
Likes: 173
From: Nevada
I bought my '04 Coupe in '07 and paid two thirds of what the car cost new. Further, it had less than 7000 miles on it. So basically, the guy before me depreciated my car to a great extent, and I got what amounted to a new car (with the new car smell.)
Given that many who buy brand new 'Vettes sometimes don't drive them much, if you can find a super-low mileage three year old model, you're getting the best of the best, in my opinion.
.
Given that many who buy brand new 'Vettes sometimes don't drive them much, if you can find a super-low mileage three year old model, you're getting the best of the best, in my opinion.
.
Melting Slicks
Joined: Nov 2007
Posts: 3,475
Likes: 10
From: Wake Forest NC
You don't even have to drive it off the lot - the depreciation starts the moment you sign on the dotted line.
Yeah, there are fifteen duplicates by my last count. Yet, here we are.
Sure does.
.
Yeah, there are fifteen duplicates by my last count. Yet, here we are.
Sure does.
.
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Drifting
Joined: Apr 2006
Posts: 1,936
Likes: 13
From: Redding California
Ah, there's something we often forget, the last model-year often gets drastically discounted to make way for the first of the new model-year.............which ironically then gets slammed as a dud several years later because it was the first model-year.
Yes, a fully loaded 2004 C5 could be had for $36K in late 2004......and even less in early 2005.
If you want a bargain, go and buy a new C6 off some dealer's lot in about 5 months time.
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Le Mans Master
Joined: Nov 2006
Posts: 7,215
Likes: 1
From: Orlando FL
Ah, there's something we often forget, the last model-year often gets drastically discounted to make way for the first of the new model-year.............which ironically then gets slammed as a dud several years later because it was the first model-year.
Yes, a fully loaded 2004 C5 could be had for $36K in late 2004......and even less in early 2005.
If you want a bargain, go and buy a new C6 off some dealer's lot in about 5 months time.
.
Yes, a fully loaded 2004 C5 could be had for $36K in late 2004......and even less in early 2005.
If you want a bargain, go and buy a new C6 off some dealer's lot in about 5 months time.
.
