Is depreciation the biggest cost in motoring

[obi_waynne]

Just seen some really nice R8's for sale - with 2000 miles on them for £63,000! That is a reduction of around £40,000 in just a few months!

At this rate I will be able to afford an R8 next year when they drop another 50k! The question is will I be able to afford the fuel to run it!

Do you think depreciation is the biggest hidden cost of owning a car?

In the uk it is around 50% drop in the first 3 years, I'd be interested to know if this is the same in other countries?

 

[HDi fun]

It probably is if we're talking about new cars.

List price for my Pug was £23,500 when new. I bought it just under four years old; one owner; 34000 miles; full dealer history; three year extended warranty; three years top level RAC cover.

For £6395 all in!!!!

That was a costly car for the previous owner 'cos I assume he didn't get anything like £6k as a trade in value.

In truth spending nearly £25k on a new Peugeot is silly in my opinion. Top of the range models are depreciation magnets. But make excellent used buys.

He'd have been better off with a modest 5 series of similar price as a new purchase.

 

[obi_waynne]

I guess the creeping fuel prices are catching up with depreciation.

 

[CitizenErazed]

I don't buy new cars, second hand only TBH as theres no real need to buy first hand unless you're rich and want the smell for a few days. Depreciation doesn't bother me either as I've never sold a car despite being on my 4th. Infact I love it, it means I can pick up great cars cheap. If people want to buy them from the showroom and loose loads of money on them for me to benafit. well. Thats there stupid fault. Yay for depreciation!

 

[turbonutter69]

I think the main cost to the motorist is road tax. Cause we are paying it for nothing with the state of our roads. We pay road tax for the gourvernment to do nothing about the state of our roads. Except tell us what we already know about potholes. Ok so it's a once a year thing if you put 12 months on it but still I see it as paying for something but getting nothing in return.

 

[dpsubaru]

In Vietnam depreciation is nothing like the rates in the UK - 3yr old Toyota Camrys are sold at USD10-15000 lower than the original purchase price (USD45k).

Think biggest costs are road tax and also insurance, although this really depends on the type of car being driven.

 

[MasterAuron]

Depreciation's great imo. You'd have to be a donut to buy brand new unless you had more money than sense, because the minute you drive it off the forecort you've lost hundreds or even thousands.

Saying that my misses bought her Ibiza brand new, and it did smell nice for a while

 

[Mongoose]

for a sensible car, I would say buying used is best in most cases.

Except if a brand new car comes out that you fall in love with and must have, then buying new is worth the extra price

 

[Sid447]

Depreciation's great imo. You'd have to be a donut to buy brand new unless you had more money than sense, because the minute you drive it off the forecort you've lost hundreds or even thousands.
Saying that my misses bought her Ibiza brand new, and it did smell nice for a while

I'm telling your missus you're accusing her of being a donut. :cheesy:

The car economists say. "Buy at 2 years and sell at 5 or 7."

 

[MasterAuron]

I'm telling your missus you're accusing her of being a donut. :cheesy:

Lol we've called each other far worse :blink: