Anonymous wrote:An old car is a depreciating asset
FFX has done a real dumb thing
Not this year it isn’t. The price of used cars jumped by a huge amount due to the supply chain issues with new cars. And it isn’t solely a Fairfax problem.
Here are my last 5 years of payments for the same vehicles.
2022: $978
2021: $722
2020: $774
2019: $952
2018: $1013
The newer car, a 2017 small SUV, jumped from $20,525 to $26,925 in one year. Fairfax reduced that by 15% to $22,886. That would have resulted in a smaller increase if the state reimbursement didn’t also drop. So, it is a combination of issues.