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Biggest Expense of Car Ownership in times of high gas price

Discussion in 'Ferrari Discussion (not model specific)' started by rickjaffe, Jun 20, 2005.

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  1. rickjaffe

    rickjaffe Formula Junior

    Mar 6, 2005
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    houston
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    richard jaffe
    #1 rickjaffe, Jun 20, 2005
    There's an interesting article in the Houston chronicle today about the cost of car ownership in the days of 2+ dollar fuel.

    Turns out 46% of ownership costs of a car is................
    depreciation.

    guess I knew that, but it makes owing a 30 year old ferrari that costs alot less than a new camry, alittle more justifiable (at least until the 5 year maintainence rolls around);
     
  2. jimangle

    jimangle F1 Rookie

    Nov 5, 2003
    2,506
    Haverford
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    James
    #2 jimangle, Jun 20, 2005
    I agree. I think it's disgusting how much value new cars lose these days. A buddy of mine bought a cadillac xlr for about 80g a year ago. He's trying to sell it, trade in value is 52g. The car has 9,000 miles on it. I paid less than the depriciation for my 308.
     
  3. enjoythemusic

    enjoythemusic F1 World Champ

    Apr 20, 2002
    10,676
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    Steven
    #3 enjoythemusic, Jun 20, 2005
    If he bought a Maseratri... $100k for car he could now sell for about $55k.
     
  4. Bullfighter

    Bullfighter Two Time F1 World Champ
    Lifetime Rossa Owner

    Jan 26, 2005
    22,600
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    Jon
    #4 Bullfighter, Jun 20, 2005
    Ouch. It does level out, though. The mistake is buying a new car to resell in a year. The M-B SLK I bought in '98 depreciated from $41K to $25K (sold it instead of trading) in 7 years. Not so bad.

    The other mistake is buying a Cadillac. They depreciate terribly. If I wanted an XLR, I'd go for one like your friend's car.
     
  5. andrewg

    andrewg F1 Rookie
    BANNED

    Sep 10, 2002
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    Chester, England
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    AndrewG
    #5 andrewg, Jun 20, 2005

    Come to England its $6-7 a gallon
     
  6. UroTrash

    UroTrash Four Time F1 World Champ
    Consultant Owner

    Jan 20, 2004
    40,514
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    Clifford Gunboat
    #6 UroTrash, Jun 20, 2005
    I'm glad people buy these cars.

    I'm glad people buy new Chevys and Fords and new boats and all the other things that keep my portfolio plump.

    I love the American hyper-consumer.
     
  7. dm_n_stuff

    dm_n_stuff Four Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2003
    43,758
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    Dave M.
    #7 dm_n_stuff, Jun 20, 2005
    I don't suspect that either that GM or Ford stock is keeping your portfolio very plump right now, is it?

    Unless you bought it just after the market crashed. (The one in 1929, that is.)

    DM
     
  8. UroTrash

    UroTrash Four Time F1 World Champ
    Consultant Owner

    Jan 20, 2004
    40,514
    Purgatory
    Full Name:
    Clifford Gunboat
    #8 UroTrash, Jun 20, 2005
    I was speaking in the bigger sense of a hyper-consumer driven economy. :)

    No, I have no GM or Ford.
     

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