Reply to What minivan to buy for $10k

Forum Index » Cars and Transportation

Reply to "What minivan to buy for $10k"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]4 years? As in you are okay with taking 2500 depreciation per year to drive it for 4 years? If that's the case, the only real solution here is to buy new.

To give you an example, we bought a 2017 Odyssy EX-L for $31k. Looking at Autotrader, with less than 60k miles, they are going for $23,000 or higher. That's 8k of depreciation for 4 years, with warranty coverage, and no repair costs. [/quote]

This is basically what I've been wondering. Did we spend as much per year on the cheaper/older one anyway because we had to do some repairs to get 4 years out of it? I'd like to have a van for more than 4 years, I only said I want to get 4 years out of it because it took us that long to get the one we have to 200,000 miles and close to worthless.

Also we had less money then. We could pay more now if it is expected to come out better per year.[/quote]

PP here. In my experience, if we take a car's useful life to be 20 years and 200k miles, the depreciation of an Odyssey in the first 5 years and 50k miles is usually just slightly more than 25%. There is definitely more depreciation in the early years, but not nearly to the degree that most people fear it is. It is this irrational belief that drives most people to grossly overpay for a used Honda. This is not even considering the fact that repair costs will go up towards the end of a vehicle's life. Depending on how hard you drive the vehicle, you may not have to even change the tires and brake pads. So just oil changes and wiper blades.

We've owned four Odysseys since 2006. The people we've sold our used Odysseys to were all extremely happy with the "deal" they got. They love looking at the sticker, which I always save, to imagine how much money they saved, thinking that I only got "a couple thousand" off of it when new. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics