dilema about depreciation
Discussion
I have a question to ask regarding a change in use for my beloved car.
due to a change at work i now need to travel more often adding an additional 5-10k mileage per year on my car.
i would like to know what impact that would have to the resale value of the car,991 turbo, 64 plate,and whether it would be better to get a cheap runaround to minimize the loss and the inevitable car park dings etc.
I know that commuting will add an extra 200 quid a year on the insurance.
Many thanks.
due to a change at work i now need to travel more often adding an additional 5-10k mileage per year on my car.
i would like to know what impact that would have to the resale value of the car,991 turbo, 64 plate,and whether it would be better to get a cheap runaround to minimize the loss and the inevitable car park dings etc.
I know that commuting will add an extra 200 quid a year on the insurance.
Many thanks.
There are two platforms upon which to view this. Position one says that if you have a great car that is useable everyday (not a Veyron/Caterham or something 50 years old) then you are denying yourself pleasure not using it everyday. Why cosset it to keep the miles down for the next owner? You have paid for it so use and enjoy it.
Position 2 states that driving in and around London and the south east involves loads of grinding through traffic, parking in small spaces next to crap cars owned by people who don't care about their own car, much less yours. Driving in those conditions is no fun and returning to your cat to find damage is even less enjoyable. Buy a daily for £2k and keep the 911 for tactical use.
What position you take depends on where you live in the country, how relaxed or OCD you are and how swollen your bank account is. I park my daily, worth about £7k, in a remote spot in the gym car park always next to, thus protected, on one side. Another guy parks his 991S anywhere he can, Battered Scenic on one side 406 on the other with cm each side. He is clearly more relaxed or wealthy or both than me.
Position 2 states that driving in and around London and the south east involves loads of grinding through traffic, parking in small spaces next to crap cars owned by people who don't care about their own car, much less yours. Driving in those conditions is no fun and returning to your cat to find damage is even less enjoyable. Buy a daily for £2k and keep the 911 for tactical use.
What position you take depends on where you live in the country, how relaxed or OCD you are and how swollen your bank account is. I park my daily, worth about £7k, in a remote spot in the gym car park always next to, thus protected, on one side. Another guy parks his 991S anywhere he can, Battered Scenic on one side 406 on the other with cm each side. He is clearly more relaxed or wealthy or both than me.
I drive my 991Turbo most days, I'm careful where I park it & it really is a brilliant all rounder. I personally don't think its 'special' enough to just leave in the garage for 'high' days etc. I didn't do the same when I had a 991GT3 & got fed up of waiting for the right opportunity to drive it!!
I have this dilemma a bit. I have an '04 996T. Mummy drives the family car to work, I need to drive my lad to nursery then on to school. I bought a £2K Audi A2 to do this. Should have bought a slightly better one, but never mind. I work on the basis that 1000 miles costs me about £300 in depreciation on a 70,000 mile car, and about £200 in additional servicing. It's also no good at all for the car to do 4 short journeys a day. Servicing will be similar for a nice new car like yours, but I'd estimate depreciation will be perhaps 3 times as much, ie nearly £1000 per 1000 miles. This is lots!
Perhaps we should swap cars, I am told 996Ts are on the up...
Perhaps we should swap cars, I am told 996Ts are on the up...
ScienceTeacher said:
I have this dilemma a bit. I have an '04 996T. Mummy drives the family car to work, I need to drive my lad to nursery then on to school. I bought a £2K Audi A2 to do this. Should have bought a slightly better one, but never mind. I work on the basis that 1000 miles costs me about £300 in depreciation on a 70,000 mile car, and about £200 in additional servicing. It's also no good at all for the car to do 4 short journeys a day. Servicing will be similar for a nice new car like yours, but I'd estimate depreciation will be perhaps 3 times as much, ie nearly £1000 per 1000 miles. This is lots!
Perhaps we should swap cars, I am told 996Ts are on the up...
I agree with highway's "position one" above.Perhaps we should swap cars, I am told 996Ts are on the up...
However, if you can drive the A2 without ever thinking "I wish I was in the Porsche" you may be OK.
I take the view that whatever I do related to cars I generally can't win financially, so I just drive mine daily, enjoy it, and don't worry about the cost over time.
My enjoyment has a positive value. How much I couldn't say. But this value may well outweigh the saving in depreciation I'd enjoy by just leaving it in the garage.
"There are two platforms upon which to view this. Position one says that if you have a great car that is useable everyday (not a Veyron/Caterham or something 50 years old) then you are denying yourself pleasure not using it everyday. Why cosset it to keep the miles down for the next owner? You have paid for it so use and enjoy it."
^ This.
I drive my 997 Turbo daily and arrive at work happy,then home happy.
Life is not a rehearsal.
^ This.
I drive my 997 Turbo daily and arrive at work happy,then home happy.
Life is not a rehearsal.
I think the turbo is designed to be driven daily,and as such other uses are not making the most of the car.I havent owned the 991 turbo but have owned most of the other generations and to me its useability is its main selling point (along with insane pace)
The depreciation aspect is not as severe as you may think,a quick glance at PH classifieds suggests every 10k a year miles costs VERY ROUGHLY an extra £5k in depreciation (2 cars one with 40k miles at 95k compared to a similar car with 10k miles at £110k).
or put it another way the guy who piled 40k miles on in a couple of years got much more monies worth than the guy who keeps it for 2 years and does 5k miles.
The depreciation aspect is not as severe as you may think,a quick glance at PH classifieds suggests every 10k a year miles costs VERY ROUGHLY an extra £5k in depreciation (2 cars one with 40k miles at 95k compared to a similar car with 10k miles at £110k).
or put it another way the guy who piled 40k miles on in a couple of years got much more monies worth than the guy who keeps it for 2 years and does 5k miles.
ScienceTeacher said:
Remarkably, I actually enjoy driving the nippy A2. It's a clever little car, and perfect for little journeys. Don't go on the motorway in it much, though. As an aside, I do not enjoy queuing in traffic in the 996T at all, it needs an open road.
We had a third car, a "garage queen" about 15 years ago. In a year we did 750 miles in it and then I thought "what's the point" and sold it, vowing never to do the same again. Buy an interesting snotter therefore having a degree of 'fun' in a different vehicle whilst commuting, no worries whilst parked up, no insurance hike, keep the mileage on the P down, the residual value up and look forward to driving it on those special trips on summer evenings and weekends.
Win win.
:
Win win.
:speedyman said:
Buy a 2k car for most daily commutes, but take the turbo out one or two times a week for selective drives that way you keep the mileage down a bit but also get to enjoy the car.
This for me as well. I have a 10 year old Astra bought for £2k as my daily drive and keep my Cayman for weekends.I find it works really well, I can chuck whatever I want in the Astra for tip runs or taking the dogs out etc and not give a stuff. It's actually quite nice piling miles onto a cheap car and knowing that it's more or less at the bottom of its depreciation anyway.
Any car(excepting obvious super cars and collectors cars) will depreciate whether it's sitting in the garage or at the traffic lights.
You get older every day, as does the vehicle.
When you are old and wrinkly you can either say, " I really enjoyed driving my Porsche , it was great fun" , or " I really enjoyed looking at my Porsche , it was great to see it safely tucked up in my garage".
My advice is, USE IT!
Cheers
Sws
You get older every day, as does the vehicle.
When you are old and wrinkly you can either say, " I really enjoyed driving my Porsche , it was great fun" , or " I really enjoyed looking at my Porsche , it was great to see it safely tucked up in my garage".
My advice is, USE IT!
Cheers
Sws
To those who say use the expensive mileage sensitive car all the time I find nothing more depressing than using something tasty in 'normal' typical boring daily commutes, in congested traffic, during adverse weather or sitting on the motorway needlessly piling on the miles when in these scenarios your 2.0 tdi or whatever is as quick and as interesting.
Especially as you can then look forward to putting on some miles in your p and j on perfect driving roads in the evening and weekends.
Again win win.:
Especially as you can then look forward to putting on some miles in your p and j on perfect driving roads in the evening and weekends.
Again win win.
:av185 said:
To those who say use the expensive mileage sensitive car all the time I find nothing more depressing than using something tasty in 'normal' typical boring daily commutes, in congested traffic, during adverse weather or sitting on the motorway needlessly piling on the miles when in these scenarios your 2.0 tdi or whatever is as quick and as interesting.
Especially as you can then look forward to putting on some miles in your p and j on perfect driving roads in the evening and weekends.
Again win win.:
I have to say, I'm in this camp. A snotter or (for me) a van is the answer to the daily grind and throwing dogs, bikes, shopping into the car (all of which happens a lot for me).Especially as you can then look forward to putting on some miles in your p and j on perfect driving roads in the evening and weekends.
Again win win.
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