6.2 L Vehicle Values

[AXE]

This is an interesting video. Mostly anecdotal, I suspect it varies by a lot of factors such as mileage, vehicle condition and region.

The depreciation on that Escalade is brutal!

 

[geddyflea]

Thats the reason I will never buy a high end vehicle new. I either lease new or buy it used to keep from taking that monster depreciation hit.

 

[ZR2xBIZON]

Thats why I stole mine. I'm looking at appreciation not depreciation.

 

[wutang61]

Hypothetically I get bent over for 45k on trade for my 22 @32k miles.

Paid 67 OTD

Total depreciation would be $22k in 4 model years. Even less with the “tax savings”

Can’t complain much with that.

 

[MrScottly]

Thats the reason I will never buy a high end vehicle new. I either lease new or buy it used to keep from taking that monster depreciation hit.

Isn't that what a lease payment is? You're paying for the depreciation, which is why when the lease is over you have nothing?

 

[AXE]

I usually keep stuff a long time. My two previous Duramax 2500s each kept for 10 years cost me about $166 month and $200 month. When I sold them, they were worth about 50-60% of what I paid, including accessories. Hardly had any issues, just a few warranty fixes and regular maintenance. I call that pretty inxepensive for "expensive" trucks.

 

[bobo57]

Hoping to keep mine for 20+ years so hopefully depreciation won't be an issue.

 

[mksz51]

Most Cadillacs depreciate rapidly. Escalade is no exception. As noted above most high end vehicles depreciate rapidly. There are a few exceptions that are still "reasonably" obtainable. IF you have $200K-$250K to spend on a sports car look at a 911 Targa or GT3. Allocations are tough to get for those but if you can and if you can purchase for MSRP your depreciation will be nothing or next to it. Used ones routinely are priced higher than the original MSRP.

 

[MrScottly]

IF you have $200K-$250K to spend on a sports car look at a 911 Targa or GT3.

Can ya get a set of 35's on that sumbitch?

 

[mksz51]

In the Porschesphere the width of a tire is more highly valued than the height of a tire. 315 is a good number. This is currently on a boat in the Atlantic making its way to my garage.

 

[MrScottly]

In the Porschesphere......

Is that anywhere near the homosphere? Asking for a friend.....

 

[KLA]

Man, some of you people are too damn rich for my blood. Im lucky I have my ZR2 and am able to pay for it and still live comfortably. I have a great job and me and my wife do very well together, but no where near some of you rich sumabitches. Damn.

 

[MrScottly]

Man, some of you people are too damn rich for my blood. Im lucky I have my ZR2 and am able to pay for it and still live comfortably. I have a great job and me and my wife do very well together, but no where near some of you rich sumabitches. Damn.

If someone can afford to go out and pay cash for a Porsche or Ferrari without emptying their bank account, good on them. May they enjoy their car in peace and live long and prosperous. What I DON'T UNDERSTAND is when middle class America leases one of these cars for a monthly payment higher than a mortgage so they can drive around and say, "Look at me", all while having less than a million$$ in liquid assets, or zero net worth because of other debt.

 

[mksz51]

100% agree. My next comment isn't intended to be arrogant, etc. - BUT - unless you can pay cash for a "toy" you shouldn't be acquiring that toy. My wife and I both worked full time in healthcare for over 40 years. We raised two sons during this time - we had our share of issues at times trying to balance our personal lives with our professional lives (which were fairly demanding and required us to be "available" pretty much all of the time at least via a phone call). Our work required us to invest 5% of our salary and then matched it at 10%. Dollar cost averaging at its finest for 40+ years for each of us. We also put additional funds away (tax deferred at the time). We enjoyed life and always had a nice home and nice vehicles but nothing extravagant and didn't eat out alot, take exotic vacations, etc. Now retired we are enjoying life and fortunately have reasonably good health (although I need a mitral valve repair in the future - I'm an avid cyclist and still ride 7000-10,000 miles a year so I'm in good shape but the valve is leaky). Investing for us was a slow, methodical, patient, but persistent process. As they say - it's a marathon, not a sprint.

 

[MrScottly]

100% agree. My next comment isn't intended to be arrogant, etc. - BUT - unless you can pay cash for a "toy" you shouldn't be acquiring that toy. My wife and I both worked full time in healthcare for over 40 years. We raised two sons during this time - we had our share of issues at times trying to balance our personal lives with our professional lives (which were fairly demanding and required us to be "available" pretty much all of the time at least via a phone call). Our work required us to invest 5% of our salary and then matched it at 10%. Dollar cost averaging at its finest for 40+ years for each of us. We also put additional funds away (tax deferred at the time). We enjoyed life and always had a nice home and nice vehicles but nothing extravagant and didn't eat out alot, take exotic vacations, etc. Now retired we are enjoying life and fortunately have reasonably good health (although I need a mitral valve repair in the future - I'm an avid cyclist and still ride 7000-10,000 miles a year so I'm in good shape but the valve is leaky). Investing for us was a slow, methodical, patient, but persistent process. As they say - it's a marathon, not a sprint.

There's nothing arrogant about that.

In high school, we teach advance math to kids that will never use it unless they go into the sciences...We teach Shakespeare to kids but don't teach them how to read owners manuals or follow technical instructions...We teach American history written by biased book companies while ignoring the teaching of the Constitution and the Federalist Papers. But....Dare we teach the rule of 72? No. Time value of money? No. Investing 101 for beginners? No. The evils of credit card debt? No. Debtor is slave to the lender? No. So what does over half of America do? They rack up credit card debt, car payment debt, mortgages on homes that are larger than they will ever need. Most people don't have an income problem, they have a spending problem, and we don't seem to want to try and fix that.

 

[AXE]

Your health is your wealth! I don't have to worry about cash, but I spent 35 years buring the candle at both ends. Nowadays, I couldn't give a shit. Find a balance and enjoy it.

I'd give anything to be 18, 2-stroke dirt bike, farm truck, shotgun, bird dog, fishing pole and just enough cash for a chew and 6 pack!

I tell my kids to enjoy your days having no money, it never gets better than being young. Everything after is just bullshit that someone else think you need to do! Fuck corporate America and their wares!