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Re: Why such depreciation ?
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Posted by LesH [Email] (more from LesH) on Tue, 11 May 2004 11:10:46 Share Post by Email
In Reply to: Why such depreciation ?, AdamC, Tue, 11 May 2004 10:22:30
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hmmmm well 97k is a lot of miles (Here in Canada it's 160k km). There's a couple similar ones on Ebay, "Buy it now" set at 9500-10000. Andrews has one for $11,000. The 99's have a bit of a stigma attached too, being the first year. And that 100k point is getting to major maintenance time.

KBB's tradein value is around $6200. $9600 for private sale, $12,900 (!!!) at a dealer. You're always going to be in trouble when you buy at retail and sell at wholesale, which is what happens when you trade in.

Just to compare, I did the same KBB lookup for a 1999 Honda Accord EX-V6 loaded to the gills (real, new retail value similar to a Saab Linear wagon, considering massive discount from list on the Saab and list for the Honda) and it's just worth $7200 today at the dealer.

Considering that new wagons can be had for $30kish, and you could probably private sale yours for $9500 or so, you're looking at $20,500 depreciation for five years. So, $4120/year for five years to drive a fancy brand new European car. (excluding maintenance of course). If you are the sort that wants a new car every five years, maybe you should be looking at leasing - you could spend $345 a month for the rest of your life and have a new car every three years or so.

You want to drive as inexpensively as possible, and still drive a nice car? European is not the way to go. Buy the very best 3 year old Japanese car you can find, maintain it yourself, and drive it till it's nearly worn out. I just sold a 17-year-old Nissan pickup under that plan.

Of course, then you'd have to drive a Honda or Toyota, neither of which I fit into.

Les
2001 9-5 Wagon 4AT steel grey

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