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Car Depreciation

Answered 4 years ago

Does anyone know how to work out how much a car depreciates each year, I am now in a position to replace my old car and would like to go forward with cars rather then backyards to avoid hefty repair bills. How long should you keep a car before it looses to much value to resell and upgrade


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ANSWER
4 years ago
My mechanic said to look at selling when the car hits ten years. At that point repairs become more regular and parts ( depending on model ) become harder to find.

ANSWER
4 years ago
$30k will be worth $20k in 5 years

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REPLY
4 years ago
Depends on mileage obviously

REPLY
4 years ago
Plus condition inside and out , make, model , even down to colour

REPLY
4 years ago
So you would recommend for me to avoid huge mechanical issues and to maintain a somewhat good return to upgrade every 5 years and to save at least 10k in that period to buy a car of a similar value. Is 10k depreciation pretty standard across most makes per 5 years or would you say it could be significantly more