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Smart Shopper Real-World Trade-In Values
38945 messages, Last post on Dec 07, 2009 at 7:39 AM
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Replying to: qbrozen (Nov 18, 2008 9:20 am)
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Replying to: volvomax (Nov 17, 2008 2:14 pm) Whats it worth?? Let me know if you can!!
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Replying to: hondachef2006 (Nov 19, 2008 6:18 am) Just curious.
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Replying to: jimbres (Nov 19, 2008 6:56 am) What do you think? Should I keep th 07 CRV and run the wheels off it or trade up like I'm about to do. Let me know!! Thanks!! |
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Replying to: hondachef2006 (Nov 19, 2008 7:27 am) Trading every 2 or 3 years is a sure-fire way to go broke. I've got a 2006 CR-V (the last year that it was available with a stick, which I prefer) & I have no plans to replace it before 2016. |
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Replying to: hondachef2006 (Nov 19, 2008 7:27 am) I'm not sure about CRV but I like to trade in my Altima every 2 or 3 years as well. For the last 2 trades, I needed to add about 4K/2years or 5.5K/3years. I think it's a good deal b/c I don't need to replace anything after 2 or 3 years, just a couple of oil changes. If I keep the car for 10 years, I would think I have to add at least 15K + all the maintenances, brakes, tires and others. |
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Replying to: hondachef2006 (Nov 19, 2008 7:27 am) I wouldn't trade out of a CR-V, because of depreciation issues.. You picked a good one!! |
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Replying to: kyfdx (Nov 19, 2008 9:27 am) What do you think!! |
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Replying to: hondachef2006 (Nov 19, 2008 9:33 am) If you only need to add around 3K to get a '09, I say "go for it". |
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Replying to: hondachef2006 (Nov 19, 2008 9:33 am) Because this transaction doesn't make any financial sense. Even using your own numbers, you're spending $3K to buy substantially the same car. Don't you have anything better to do with that money? Before you do anything, spend some time researchng the financial fundamentals of car ownership. You'll see that what costs you the most money is depreciation, not repair & maintenance costs. This means that if you want to reduce the cost of car ownership, you'll focus on reducing what you lose in depreciation. Because the steepest part of the depreciation curve takes place during the 1st 4 years of a car's life, one way to beat depreciation is to buy used. Let the poor jerk who bought the car new take it on the chin. Another way - my approach - is to buy new & keep the car for at least 6 to 8 years. (Although I've kept cars for as long as 13 years, I generally don't go beyond 10.) Sure, you'll spend some money on repairs, but what you're saving on the depreciation side of the ledger will more than pay for those repair costs. Anyway, experience has taught me that top-tier Japanese brands will easily run for 10 years without big repair bills. If you trade every 2 or 3 years to hold down repair costs, you're effectively spending $1.25 to save $1.00. |
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