Who says it is a depreciating asset?

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Jul 3, 2024
2:36:25pm

kccougar VABL

Who says it is a depreciating asset?

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kccougar

Bio page: kccougar
Joined: May 29, 2001
Last login: Jul 5, 2024
Total posts: 89,308 (15,240 FO)

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Messages

Author

Time

POLL: What is the most you'd be willing to spend on a vehicle (used or new doesn't matter)?

Jul 3, 2:28pm

For those selecting anything above $40k…what is your rationale for spending that

BlooCoug

Jul 3, 2:35pm

Who says it is a depreciating asset?

kccougar

Jul 3, 2:36pm

95% of the time automobiles are likely depreciating assets. Collector cars that

BlooCoug

Jul 3, 2:37pm

Right. And you said new or used doesn't matter. I would pay over $40k for an appreciating asset vehicle.

kccougar

Jul 3, 2:38pm

Okay, that makes sense. What about a non-collector vehicle?

BlooCoug

Jul 3, 2:40pm

People spend unnecessary funds on all kinds of experiences and for some, driving their vehicles is as much an experience

kccougar

Jul 3, 2:45pm

So the poll is "How much are you willing to spend on a boring automobile?" Easy. $0.

Bert609

Jul 3, 4:01pm

All our pickups cost more than that. Need them for work.

blueaussie

Jul 3, 2:42pm

A few reasons:

garyfan

Jul 3, 2:47pm

Your #1 reason makes sense. For 1 percenters, even 10 percenters, a dollar

BlooCoug

Jul 3, 3:02pm

Are you suggesting that paying a premium ensures reliability?

stenso

Jul 3, 3:05pm

Yes I am suggesting that.

garyfan

Jul 3, 3:14pm

Are you a car salesman? 😂

stenso

Jul 3, 3:28pm

So, if someone were buying a 2024 Toyota Camry and a 2016 Toyota Camry,

garyfan

Jul 3, 3:47pm

A well maintained 2016 Camry with low miles over a 2024 Camry?

stenso

Jul 3, 3:53pm

The current Camry is a gas/hybrid electric with a turbo 4. If your primary aim is reliability and longevity and cost of

Bert609

Jul 3, 4:06pm

Exactly, 👍.

stenso

Jul 3, 4:10pm

Ironically, it's the non-car guys who spend more $$ on their cars at similar income levels than the car guys.

Bert609

Jul 3, 4:19pm

The annual cost of maintenance for a 2016, especially a Toyota is probably

byusage

Jul 3, 4:21pm

That's a separate argument. He's saying that all else equal, older cars are

garyfan

Jul 3, 4:25pm

I said that the “price” is not necessarily correlated with reliability.

stenso

Jul 3, 4:31pm

But price is correlated with age, so...

garyfan

Jul 3, 4:38pm

This is a fine example of why non-enthusiasts spend more $$ than enthusiasts on cars, to an enthusiast, it's not a

Bert609

Jul 3, 4:52pm

my standard response is who cares if it's a depreciating asset if it brings you happiness and/or utility?

byujag

Jul 3, 2:49pm

That’s reasonable.

BlooCoug

Jul 3, 3:03pm

When my wife goes to visit the grandkids I want a car with safety features and

RC Vikings

Jul 3, 2:52pm

$40k doesn't even get you a kid hauling SUV

Jul 3, 3:10pm

It does if you’re willing to buy used or rebranded title. The OP said new or

BlooCoug

Jul 3, 3:59pm

Same reason why people spend money on vacations, or nice food, or landscaping, or expensive

Skeptical Optimist

Jul 3, 3:44pm

Check out these investments. They do quite well.

Jul 3, 3:54pm

The biggest thing to me is the pickup

cougarBee

Jul 3, 4:01pm

Really nice off-roading vehicle/truck will be more than $40k. Great family fun!

cougXor

Jul 3, 4:05pm

"If your car doesn't turn you on when you turn it on, then you bought the wrong vehicle."

Jul 3, 4:09pm

If it’s a 911 Turbo, it isn’t a depreciating asset.

gww687

Jul 3, 4:26pm

RE: For those selecting anything above $40k…what is your rationale for spending that

Jul 3, 5:09pm

If someone is will sell me a $900k car for $250K, I'll enjoy it for a while.

FrontLineFan

Jul 3, 2:41pm

Depends on the vehicle, my needs, and what I would use it for.

John Doe

Jul 3, 3:46pm

There are some $250k cars I dream of owning… they may even be in reach someday.

Tokolosh

Jul 3, 3:55pm

I could find a car at EVERY price point in this poll that I would be over the moon in purchasing and owning. It's not

Bert609

Jul 3, 3:57pm

What I would be willing to spend versus what I have available to spend...

Eddie

Jul 3, 4:37pm

I bought a new Acura MDX. It is a

Snipe

Jul 3, 6:11pm

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