Depreciation per year
Discussion
I'm looking to buy a duratec 500r and I'm getting resistance from my wife.My argument is that year for year it's cheap(ish) ownership after everything is taken into account,most of all deprciation.Am I right on this or do I just beat her over the head with a big stick and carry on regardless?
smifffymoto said:
I'm looking to buy a duratec 500r and I'm getting resistance from my wife.My argument is that year for year it's cheap(ish) ownership after everything is taken into account,most of all deprciation.Am I right on this or do I just beat her over the head with a big stick and carry on regardless?
Obviously difficult to be prescriptive about this question but Caterhams have excellent residuals and low running costs. If you do trackdays, they are very easy on consumables such as brakes and tyres when compared to other types of cars (low weight). For the cars themselves, they hold their value remarkably well and this is largely due to Caterham not discounting their new/used car stock at all (this was a question asked of Ansar Ali and Andy Noble of Caterham Cars this week) which in turn maintains the residuals for all the owners out there. Its difficult for potential owners to appreciate this point as everyone expects to get a discount when buying a car from a business but not with Caterham. The upside is the benefit on residuals when you come to sell the car. There is unlikely to be any cheap comparable cars out there so anyone looking to buy an R500 will have very few to look at.
Anyone who has a new car will obviously suffer some "depreciation", if nothing else the VAT on the purchase of the car but Caterham have a history of buying back cars if they are very well specc'd, condition and mileage and giving a decent price dependant on how sought after the model is. A friend had a very good price for the sale back of his R400D a year or so ago even with its 7-8k miles on the clock which would have meant he had enjoyed his time with it for a very small sum (and certainly less than the VAT bit). He wasn't really interested in selling on though as he enjoyed the car so much but it was good to know its residual was so good.
It depends how bright she is...
Depreciation per year is pretty good.
Depreciation per mile, on the other hand, makes buying a fully optioned-up Alfa Romeo look like sound financial sense.
If she's clever enough to work this out, you're probably better off taking the 'shut the f
k up, bh, I wear the trousers' approach. Actually beating her with a big stick is optional, but you know her best...
Depreciation per year is pretty good.
Depreciation per mile, on the other hand, makes buying a fully optioned-up Alfa Romeo look like sound financial sense.
If she's clever enough to work this out, you're probably better off taking the 'shut the f
k up, bh, I wear the trousers' approach. Actually beating her with a big stick is optional, but you know her best...I drive a lot with the Caterham. i never worry about depreciation. I'm aware it will depreciate more than most other Caterhams, but then again, it will never depreciate as much as a 'normal' GTI thing on wheels. I have more fun as a bonus, too.
I've driven an Opel Speedster (Vauxhall vx220) for 13 months. Over 30.000 Kilometers and I had virtually no depreciation, including the mods.
So, if possible, just buy yourself a second hand car and enjoy it till you get fed up with it.
I've driven an Opel Speedster (Vauxhall vx220) for 13 months. Over 30.000 Kilometers and I had virtually no depreciation, including the mods.
So, if possible, just buy yourself a second hand car and enjoy it till you get fed up with it.
Buy all the car you can brand new, finance it for 4 years. After that it's just road tax and maintenance.
Our car is now almost 8 years old, one of the very first SV's (and only one of either 2 or 6 with the VHPD engine) and the costs have been almost nill over it's time to now, except for getting the battery leads backwards and damaging part of my loom.
Even putting in things like CRB's, clutch plates, etc is cheaper than our main car. ANything else you tell her it's 1/2 (or more savings) than a boring as batst regular car.
I guess you could also consider upgrading to Wife 2.0 ;-)
Our car is now almost 8 years old, one of the very first SV's (and only one of either 2 or 6 with the VHPD engine) and the costs have been almost nill over it's time to now, except for getting the battery leads backwards and damaging part of my loom.
Even putting in things like CRB's, clutch plates, etc is cheaper than our main car. ANything else you tell her it's 1/2 (or more savings) than a boring as bats
t regular car.I guess you could also consider upgrading to Wife 2.0 ;-)
smifffymoto said:
These are exactley the right answers she will want to see.Me,well I don't give a toss because I'm having it wether she likes it or not.
Being more realistic it may cost me a new kitchen or bathroom.
Put My new ensuite on hold to get Mine...I dont mind going down stairs to the toilet!!!....so long as I can blat around Mid WalesBeing more realistic it may cost me a new kitchen or bathroom.
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