Depreciation?

[Asharus]

except for the fact that you never get to enjoy your car and have to drive a POS on a daily basis

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[Starman]

except for the fact that you never get to enjoy your car and have to drive a POS on a daily basis

My commute here is 1 hour each way of bumper to bumper traffic moving at 5 MPH.

There's noting "enjoyable" about pushing in a clutch 10,000 times a day burning up the tranny and tires on a nice $47,000 mustang V8 burning a ton of gas.

Its far more enjoyable to get in the Mustang and go hit open roads with the top down and keeping the miles low.

I'm not very vein and I don't need my ego inflated by looking cool doing it in my Mustang. I drive my Stang for my own enjoyment.

'nuff said

 

[NornIron91]

My commute is about the same. Gas prices are low now but in Cali they could be at $4+ per gallon next week. I have to fill up 2-3 times per week.

Just be glad you don't have to fill up over here in the UK, it's currently about $6.29 per gallon :(

 

[Asharus]

well then, we use our cars the exact opposite way. mine is parked on the weekends and i use my wife's sentra for those runs to the supermarket. her car is a lease and i dont have to worry about shopping cart dings.

 

[Old 5 Oh]

Lol. I think I average about 19 mpg. Maybe I should quit whining.

If you are getting 19 mpg (can't get better than that commuting? I was getting 23 . . . ), and paying $4.00 for gas, you only save $100/month going to a car that averages 25 mpg. That's not much. If you take a $3,500 haircut to get out of the Mustang (which you will), it will take you 3 years to break even.

Why not just enjoy the car for the three years, then worry about whether you need to get better mileage next time?

 

[Charles147]

Cars depreciate? I was under the impression you can trade up every year and the financial hit would be a couple tanks of gas and an oil change or two.

 

[Hack]

I just got a new job with a very long commute. Thinking about letting my baby go. Does anyone have any idea how much one can expect in depreciation? Has anyone had their car appraised or sold? My car is a 2015 Mustang GT Premium Performance Package with Nav and reverse sensors. Only 4700 miles. No part of me wants to let her go especially if I have to take a huge hit on depreciation.

My recommendation is to do the math on how much trading and buying again will cost you versus how much you can save on gas so that you can really go through the numbers before making a decision. A lot of time saving on fuel seems important but once you do the math you'll realize it really doesn't add up to that much money. I would rather pay a couple hundred more a year for gas then spend my time in some boring, crappy car.

 

[speedfrk]

The ecoboost is a very viable option for someone who needs fuel economy and still needs a new Mustang! Mine is averaging 30mpg with 80% hwy driving, very little in town driving. Plus, they are about 5-7000 less than a GT so that would easily cover any trade difference.
Carmax generally tends to pay the most in the ATL area. I've sold them 2 cars in the past and they paid 2000.00 more than the dealer would give on trade.

 

[Khyber]

it's still under $2 a gallon here. lol It was $1.74 a week and half ago.

cali be robbing yall.

 

[madweazl]

I am wondering if KBB is accurate or if anyone has done better than KBB in trade, carmax, etc.

NADA is generally closer than KBB but they're typically good indicators of value. You'll lose money on a sale in the first year regardless unless you made a large down payment (which you'll lose).

 

[FivePointOh]

If you are getting 19 mpg (can't get better than that commuting? I was getting 23 . . . ), and paying $4.00 for gas, you only save $100/month going to a car that averages 25 mpg. That's not much. If you take a $3,500 haircut to get out of the Mustang (which you will), it will take you 3 years to break even.

Why not just enjoy the car for the three years, then worry about whether you need to get better mileage next time?

Unfortunately the commute is 44 miles each way in bumper to bumper traffic. I'm lucky to be getting 19 mpg. If I got a new car it would probably be a diesel (not the VW) those average around 45 mpg. Regardless of the mpg your point about the loss v. savings is well taken. :cheers:

 

[Starman]

Cars depreciate? I was under the impression you can trade up every year and the financial hit would be a couple tanks of gas and an oil change or two.

Honestly, one of the reasons I have owned 17 Honda/Acuras over the past 20 years is that this is true.

I once bought a Honda S2000 for strait up MSRP at $31,000 and sold it one year later with 6000 miles on it for $32000.

I also bought a 88 Honda Civic DX to drive with that S2000 for $3500, drove it for 2+ years 20000+ miles and then sold it for $4000.

I have taken small hits on some of them.

I bought my 2014 Honda Accord Touring for $31000 and traded it in a year later to a dealer with 7000 miles for $30,000. the good thing was that I had already paid of a good $4000 on it so i had 3000 equity on the trade in.

etc....

Hard to do this with a lot of brands out there.

 

[Pootie_Stang]

mustangs do not hold their value well. I bought this car knowing ill have to keep it for about 3 years

 

[Asharus]

that's my plan as well. 3-5 years and get the next best bang for buck at that point.

 

[blitzburgh]

You cant ask people on here. Almost everyone here can trade a car in 5 months after buying it and end up making 2k on the deal.

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