Depreciation sucks

[UncleBen]

I did a KBB today on my car. Came back a good solid 4400 bucks!!! Man I love my car! I guess that is one more reason for me to keep it forever, cause I'm not going to be able to afford anything without saving a while. I might could get a decent downpayment out of it, but jeez!!!

[Repo Man]

Face it Ben, cars are a depreciating asset. Be glad you didn't buy new! Typically, the more you spend, the more you lose, at least with domestics. I have an '01 Pontiac Grand Prix that my wife drives and I couldn't sell it if I wanted to. And I bought it 5k under sticker on the GM Employee PEP plan (GMU).

And why the hell would you sell that s14 anyway? I'll buy it if you do...

[SDRonEbay]

Depreciation does indeed suck. For those of us who are emotionally linked to our vehicles (whether they be impounded or not) no one else will ever understand how hurtful a word depreciation is. <------dangling participle.

In fact depreciation doesn't quite mean the same with any other "investment." To appreciate an unanticipated depreciation one should investigate disintermediation. You'll find it some time around the Great Depression. People took all of their money out of banks so they could get better rates with other types of investments. Now, I know you're wondering where this rant is heading....let me get there now so I don't lose anyone.

A car is manufactured to be driven. We drive to save time and effort. This means, by the very definition, a car works. It works on getting us somewhere so we don't have to do it. Now, because the car works, friction is created and the components of the car are worn. Because it cannot heal itself, it will forever be less efficient than it was once it has done said work thus it's value to us has depreciated. Like the people back in the Depression, we want better "rates" or better "percentages" when it comes to our vehicles. When dealing with percentages you're always taking a gamble. Come gamble at Louisiana Casinos.

I don't know where I am.

In short, love your car. You can't take it with you and know one else cares.

Shift_In respectful memory of Ronald Wilson Reagan.

[Bubba1]

Agree, depreciation sucks if you want to dump your car after a few years. I also wouldn't trade it. Won't get much for it. Better to have it as a spare car once you buy a new(er) car.240's make ideal spare cars 'cause they're so cheap to keep.

[Repo Man]

What I really meant to say above is "asset", not "investment". No one in their right mind would invest in a car they drove and would hope that it went up in value.

[SDRonEbay]

I don't think anybody caught it repo, but your right. Word usage is important when making investment decisions. But not so much when your an a-ss-et like me.