Poor resale value-would I be able to sell it?
01-30-2004, 02:12 AM
#16
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Re: Poor resale value-would I be able to sell it?
In article <2giSb.4606$2g.3860@charlie.risq.qc.ca>,
"Daniel" <nospam@nospam.com> wrote:
> Hey, this is a very interesting thread guys !
>
> Here is my 0.02 to it:
>
> A national CAA survey (equivalent to the AAA) among 20000 respondants
> performed in 2003 revealed the average cost of maintenance for passenger
> vehicules is :
>
> age of car
> 1 $200
> 2 $350
> 3 $500
> 4 $800
> 5 to12: $1100 per year
>
> Survey respondants claimed driving an average of 19k km per year, or app
> 12k milles. (I am sure most respondants dont keep a detailed history of
> repair costs. So let's add a couple of hundred dollars to the age 5 -12
> figure.)
>
> In the last 12 months, I spent $1400 on my 1998 Max. I drove 22k km. It now
> has 103k km on the odometer.
>
> In my estimation, the economical break point for owning a vehicule is when
> it reaches 7-8 years old. At that point, the average yearly total cost of
> depreciation, repairs and capital cost is at minimum. Beyond 8 years, the
> average yearly cost does not get any significantly lower. As a matter of
> fact, you increase the risk of being stranded, car downtime, time lost while
> at shops, and loss of income if you depend on the car for such. The most
> economical strategy is to buy a used car between 2 and 5 years old and keep
> untill it reaches 7 or 8 years of age. A made myself a rule of thumb to
> seriously consider getting rid of the car if the last 12 months actual costs
> or next 12 months forecast exceeds $1500. But often emotions get in the way.
> Or life has other plans.
>
>
Interesting, thanks for sharing this.
--
Do not email if posting response. To email, replace x with 4
"Daniel" <nospam@nospam.com> wrote:
> Hey, this is a very interesting thread guys !
>
> Here is my 0.02 to it:
>
> A national CAA survey (equivalent to the AAA) among 20000 respondants
> performed in 2003 revealed the average cost of maintenance for passenger
> vehicules is :
>
> age of car
> 1 $200
> 2 $350
> 3 $500
> 4 $800
> 5 to12: $1100 per year
>
> Survey respondants claimed driving an average of 19k km per year, or app
> 12k milles. (I am sure most respondants dont keep a detailed history of
> repair costs. So let's add a couple of hundred dollars to the age 5 -12
> figure.)
>
> In the last 12 months, I spent $1400 on my 1998 Max. I drove 22k km. It now
> has 103k km on the odometer.
>
> In my estimation, the economical break point for owning a vehicule is when
> it reaches 7-8 years old. At that point, the average yearly total cost of
> depreciation, repairs and capital cost is at minimum. Beyond 8 years, the
> average yearly cost does not get any significantly lower. As a matter of
> fact, you increase the risk of being stranded, car downtime, time lost while
> at shops, and loss of income if you depend on the car for such. The most
> economical strategy is to buy a used car between 2 and 5 years old and keep
> untill it reaches 7 or 8 years of age. A made myself a rule of thumb to
> seriously consider getting rid of the car if the last 12 months actual costs
> or next 12 months forecast exceeds $1500. But often emotions get in the way.
> Or life has other plans.
>
>
Interesting, thanks for sharing this.
--
Do not email if posting response. To email, replace x with 4
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