Depreciation: Dropping like a rock

[Stick_man]

Bought my 98 XLT v6 sohc, premium package like 6 years ago. I got it for like 5 large. It was worth 8000. I got it cheap cuz my brother worked for a car dealer back then.

I just looked it up in the book and the thing is like 4000-4500 retail. This sucks man. My 81 harley is going to be worth more soon

 

[IZwack]

Welcome to reality .

Cars are typically not a good investment.
SUVs are never a good investment.

 

[Joe Dirt]

Lease anything that depreciates, buy anything that appreciates.

Could be worse- when I bought my 2001 Sport new for $27k, according to the dealer it was worth $11k one year later... I remember feeling lightheaded after that conversation...

 

[Stick_man]

SUVs . . . why not? What the dif between a car and truck in depraciative value?

 

[Tom G]

You paid $5K six years ago, and it's worth $4K now, and you're complaining?

 

[IZwack]

SUVs . . . why not? What the dif between a car and truck in depraciative value?

Because their depreciation rates are much larger than cars. Compare a 2000 Civic to a 2000 Expedition
.
Posted via Mobile Device

 

[sarge816]

Especially American cars/suvs depreciate fast compared to most imports for some reason. It's kind of weird, as I also was a Harley owner before I sold it a few years back when we built a new home. It held its value really well. The bike/car world are opposites: American bikes (Harley) keep their value, jap bikes depreciate quick.

And I bought my 98 Sport for only $2k, and have about another $1k in it including new tires, windshield, replaced leather inserts, etc. It looks almost new, and only has 99k miles. Hoping to get another 100k out of it - here's to American SUV's that depreciate quickly.

 

[my98nnj]

Baught my 98 three years ago with 58,000 miles on it for $2,500.
As of now, with only 82,000 miles KBB private party value for the truck in excellent condition (which it is) is worth $5,000.

I'm wayyyyyyyyyy ahead of the game!

 

[Joe Dirt]

'Excellent condition' never works though...

 

[IZwack]

Yeah and there's a margin of error between KBB and actual street value. That 5k can easilly drop to 3 or 2.
Craigslist is probably a more accurate estimator.
Posted via Mobile Device

 

[Brandon96]

Buy Ferrari's!

I hear they have excellent depreciation values!

 

[Stick_man]

mine has 134k miles though. i bought in with 88k

 

[zukman]

so lets look at this from a different angle.
You bought it cause it was a good deal at the time.
You have since driven the wheels off it.
You love it.
SO what are you complaining about??????????
LOL

 

[Stick_man]

I guess nothing. I love my truck. Ford is just as good as anyone and i don't care what anybody says.

even if I won the lotto I'd be damned if some stealer would get it for 1200 on a trade or whatever.

 

[KPSquared]

You bought a Ford... what did you expect?

American iron isn't worth ****e the second you drive it off the lot. That being said, I'll probably never drive anything else... Mostly cause I can buy Fords so cheap used...

 

[Paraphoe]

You paid $5K six years ago, and it's worth $4K now, and you're complaining?

+1.

Didn't you notice during the cash for clunkers crap people trading in perfectly good trucks for $800 tax credits? The days of the SUV are over.

 

[corkey]

after C4C Explorer prices went down fast,

GOOD FOR US<,,,,,

 

[MarkTows]

OK.. I bought my 96 EX sport for $300.oo cause a dumb mechanic kept telling my friend it had a blown cylinder.. (sparkplug). Well... I got my excise bill and my city says its worth 2100... so that is a 7 fold appriciation.. Sweet....
Mark

 

[jimwww]

Highest resale value for american vehicles is Jeep. They are searched in Auto Trader as number 7. I have had a few of them. (Jeeps) and love em but I do love the style of my Explorer Sport. One of the best looking styles made by Ford.

 

[grof]

I bought my 2004 explorer couple months ago for 4400$ ,after tax and registration was 5k even