Anyone bothered/obsessed about depreciation.

[John]

I just accept depreciation as one of the costs of motoring and couldn't care less.

I decide how long I am likely to keep it and what I am likely to spend in depreciation on a second hand car to get the kind of cars I like (£100k+ new) and do that.

I am confident I have not spent as much as the previous owners.

As cars are a hobby for me, I can "deduct" the cost of running a typical car I'd normally have anyway.

The difference is then the hobby cost.

I enjoy the car every time I drive it and so for me it's no different to spending on any hobby.

I don't do tech, watches, drugs, alcohol, clothes, shoes, gambling / stock market, smoking, bling, jewels, multiple expensive holidays, designer anything etc.

My money, my choice in how I spend it!

 

[Scooby_Doo]

I'm more than happy with my C250 , ticks all the boxes , but I've fancied a Volvo XC60 for a while now and keep having a look on their website to see what's available.
Also keep an eye on the MB website for a GLC , can't get to like it unfortunately , but the one thing I tend to look at these days are the finance quotes. The one figure I check is the final payment value at the end of the term , the MB will usually drop circa £6k a year whereas the Volvo is more like £8k a year so I won't be buying one soon.
I appreciate that many manufacturers got caught out a few years ago with inflated residual values but surely making them lower only makes the monthly repayments higher.
Just had a quick look at figures :
Nearly new , 100 miles Volvo XC 60 , £40,000 final payment after 3 ** Three Years = £15,000
Nearly new , 2000 miles MB GLC , £40,000 final payment after 3 ** years Years = £19,600
Volvo has lost £4600 k more than the MB over three years.
Is my assumption on depreciation wrong ??

 

[alabbasi]

Cars are not an investment. They're a method of transport or a hobby. Either one will consume money. If you want to invest money, a more sensible option would be to put it in the stock market (although maybe not now) where you or a fun manager can manage it. That way your money can grow without requiring storage, parts, labor or leaking oil.

If you have concerns about stretching your money, buy a new car and drive it until the wheels fall off, or buy a 10 year old that's already 90% depreciated and drive it until the wheels fall off. In any case, the end goal must include the wheels falling off.

 

[gaz_l]

^^^^^
Fun manager? I’ve got one of them, she’s the one that says I’m not allowed a motorbike

Depreciation? Well, money's for buying the things you need. Anything left over is for spending on things you enjoy. Keep a bit aside for a rainy day, job done. I happen to like cars so that’s the thing I spend my money on, I can safely say I’ve never made money on a car. I have had a lot of enjoyment out of them over the years though. Work hard, and with a bit of luck and a following wind there’ll be some more money along in a while. Life’s too short to worry about how much your car is costing you while it’s sat on the drive.

Cheers,

Gaz

 

[Scooby_Doo]

I look at it as "damage limitation" , I've spent a lot of money on car's that I liked , within a budget , but always weighed up the costs of the particular car against an alternative and an alternative dealer , I live in West Wales but have bought cars from London, Stratford, Bristol & Bath .

 

[Scooby_Doo]

I've got a Fun Manager as well , she also doubles up as a speed restrictor .

 

[Teego]

For me I only care about it when it comes to buying a vehicle, but not sell to be honest. If I am looking at a new E63S for £100k+ but then see that I bought my 2020 reg for 70k - then hell yea I care - I save the money and get a pre-reg with most of its warranty left. What I don't have in mind and never had - and therefore don't add to my 'monthly bill' as hidden cost like @Benzowner mentioned - is what it may be worth in 1,2,3 or more years. I almost always think I gonna keep the car (and rarely do lol) - so yea .. I just want to drive a nice car and if it is financially better for me due to depreciation - so be it.

I even have the same mindset in buying new cars. When I bought an A6 I didn't even care it drops 50% in value after less than six months. I just wanted to enjoy the car.

Although I must say - when I bought the e63s I was surprised how much 'cheaper' it already was when I bought it - although even more so when I realised the insurance thinks it is worth even less - like 20k less. So my insurance essentially says that my 2020 e63s (first reg 31/01/2020) is worth like 55k .... less than six months old ...

Just landed. Take me to your accountant Earthling.

 

[SmartAmg]

I'm not keen, why would anyone enjoy depreciation?

Nuts.

Don't think anybody's said they enjoy depreciation,
have they? Who would?
But with cars it's inevitable, so why worry,
get the car you want and enjoy it!

 

[Bobby Dazzler]

I buy the car at the best deal I can find and then get on with the serious business of enjoying it. Lots. And lots. For a long time. I’ve driven some wonderful cars thanks to depreciation and Mercedes being not as expensive or special as they used to be.

Depreciation seems to worry people who comment on YouTube videos and Instagram posts most of all, as they’re forever highlighting it to said YouTubers and Instagrammers with supercars. They seem to get really upset about it.

 

[GP801]

We keep ours long term - CLK 17 years, SLK 15 years. Both bought new and both high spec. Over such a long term depreciation is pretty much irrelevant. The 124 we have had for 12 years and its probably appreciating slightly each year. No plans to change any of them any time soon. Over the long term it has probably cost less than getting a new one on finance every 3 years.

 

[alabbasi]

^^^^^
Fun manager? I’ve got one of them, she’s the one that says I’m not allowed a motorbike

Who was it that said 'I spent half my money on gambling, alcohol and wild women. The other half I wasted'
There's a guy that knows how to have fun.

 

[6avs]

Not bothered about it

 

[Ted]

Who was it that said 'I spent half my money on gambling, alcohol and wild women. The other half I wasted'
There's a guy that knows how to have fun.

George Best iirc.

 

[jdrrco]

Who was it that said 'I spent half my money on gambling, alcohol and wild women. The other half I wasted'
There's a guy that knows how to have fun.

It was WC Fields originally I think.

He also made the comment that he never drank water because it was horrible stuff that rusted pipes, so he stuck to gin.

 

[SL300-24]

I suppose depreciation only concerns those that cannot afford it.

 

[Londonscottish]

Since I came out of the company car scheme I've always factored in depreciation as the single biggest line item. I work on the rule of thumb that the average in the industry is around 15% pa but of course it can be a lot more or a lot less for any particular car at any given point in time. But as single line item it's likely to be up there with the cost of fuel/RFL/insurance/maintenance combined.

Given the fact that I'm loathe to borrow heavily (more cost) I tend to buy what I can afford at the time. Which is usually the trade in price of what I have + 10/11/12k.

When I do all the sums, I get to run an older but much more interesting Merc V8 at the same monthly cost as a 2.0 diesel repobile.

Horses for courses but it suits me.

 

[Deleted member 154425]

I suppose depreciation only concerns those that cannot afford it.

That and people who technically can afford it but don't want to. Like people that lock up cars and panic when a single mile is put on. I suppose I don't have a collector's mind but those guys probably hate deprecation lol

I tend to enjoy cars that I like knowing fair well I won't get anything back in X number of years.

I always buy cars thinking I keep them forever but some cars have a different mindset.

 

[Deleted member 6183]

I suppose depreciation only concerns those that cannot afford it.

You must think I am skint then?

 

[Darrell]

One of my work colleagues bought an X5 a while ago. It depreciated a grand a month while he had it.

Needless to say he wasn’t that impressed.

 

[Darrell]

I don't do tech, watches, drugs, alcohol, clothes, shoes, gambling / stock market, smoking, bling, jewels, multiple expensive holidays, designer anything etc.

It’s all rock and roll in your house!!