Does anyone know if anybody publishes vehicle depreciation guidelines for NZ cars! I've seen overseas figures but we do seem to operate in a bubble when it comes to car values.
martin11,
Feb 29, 2:13am
Carjam used to have a Turners current value on it for the cars . Check there
trdbzr,
Feb 29, 2:25am
Most cars seem to have either stagnated in value or gone up in value in the past few years.
tonyrockyhorror,
Feb 29, 3:31am
Not for tax purposes then, just personal interest!
smac,
Feb 29, 3:37am
Yep, just been throwing some ideas around about cost of ownership etc. Was curious to see if there's any trends with regard to big car versus small, Jap vs Euro vs Aussie etc The 'expected sale price' on Turners is a good start - they have a lot of data to draw on.
amberjandal,
Feb 29, 3:47am
No "red book" in NZ , Has not been for a long time , our market was too complex with imports , new NZ then over supply now under supply. Turners is a good start but often off the pace. You cant go wrong at the moment with a SUV or a 4x4 ute , diesel will hold value better and you will be safe as long as you dont buy oddball or Euro.
vtecintegra,
Feb 29, 3:48am
Big cars clearly depreciate faster than smaller models - you can fairly easily buy an 06 or 07 Falcon or Maxima for the same price a similar year Suzuki Swift goes for
msigg,
Feb 29, 4:42am
Euro cars depreciate more than most other brands. Very general
johnf_456,
Feb 29, 5:35am
The . salesman here wil be apalled.
thejazzpianoma,
Feb 29, 6:18am
Not really true, most have higher initial depreciation, quite a different thing.
thejazzpianoma,
Feb 29, 6:19am
Not at all, I think its great! I buy them once they have had their high initial depreciation and enjoy almost zero depreciation on the ones that I own.
thejazzpianoma,
Feb 29, 6:21am
A method I use for calculating depreciation which I have found surprisingly accurate over the years. Is simply to look at the same make/model on trademe that is however many years older than the one you are looking at and noting the difference in price.
The other thing which I find very interesting is that depreciation is far from linear. Study that trend and you can nab some real cheap motoring. Its worked well for me over the years.
intrade,
Feb 29, 6:23am
we are prices here are like oil prices for cars only goes up with each new rule and law.
socram,
Feb 29, 7:09am
IRD is 26% per annum on the residual value or a flat rate of 13% - or that was the figure. (Less GST)
On that basis, my 2002 Cooper S is worth diddly squat, but the reality is that even as a Euro, it is worth a lot more than that!IRD doesn't expect cars to last ten years for business use, regardless of mileage.Using a car privately is a different ball game altogether, but a trader may well see it differently and use different calculations.
kazbanz,
Feb 29, 7:22am
smac-Honest injun mate--ask me that question in 18 months time and I'll offer you a sensible answer. Right now I wouldn't have a danged clue what stuffs worth let alone what it should depreciate by. Heck I can't fricken BUY cars to sell at $5000 anywhere. It looks like what was 3kj is now 4kwhat was 4 is now 5.5. -cars have gone UP in price not down
smac,
Feb 29, 8:54am
Cool. So if I buy a $5k car off you now, you'll buy it back from me in 6 months for same price! Sweet! ;)
I realise prices are a bit scattered.but they always are for some reason or another. I'm just talking general long term depreciation. The comments above about larger cars seem about right. Pros and cons of course - a large car is (relatively) cheaper to get into these days, but will be worthless for resale in 5 years. Same as buying and selling houses in the same market; whether they're up or down doesn't really matter.
The more I think about it the more I realise it's irrelevant for me. I'll probably run the next car into the ground, the way I have this one, so getting the best car for my budget is more important than what it's worth in 5 years time.
msigg,
Feb 29, 9:01am
yea you got it smac, buy something your happy with, don't worry about the running cost too much and just enjoy it.keep for as long as possible. There will be a cost but hey , thats life. You only live once.
kazbanz,
Feb 29, 8:36pm
Funny you shoud say that because exactly that happened 3 weeks ago honest injun.
smac,
Feb 29, 8:56pm
Buy my 2000 Astra with 200k on the clock for $5k!
geedubu,
Feb 29, 9:03pm
Looking on the bright side, if you had bought a new Ferrari 250 gto in the early 1960's for $18,000 you could now sell it for $20 million.
kazbanz,
Feb 29, 9:25pm
The navy are running short on anchors. I'd suggest you call them
kazbanz,
Feb 29, 9:25pm
The navy are running short on anchors. I'd suggest you call them.
actually the astra is one of those cars that seems to drop in jumps rather than smoothly.They seem to hold a price untill the latest version comes out then drop sharply all in one go Its the same with auzzie stuff.They will hold valuethen drop when the latest model arrives.
eagles9999,
Feb 29, 9:33pm
But not if you do Agreed Value insurance.AMI (for one) seem to have a policy ofarbitarily reducing it down by at least 20%
socram,
Mar 1, 2:49am
And those same cars could be bought at the end of the 1962 season for $10,000 - and they struggled to shift them!Vintage Bentley's were $1500, Austin Seven's about $10 - and my wages as a very junior shop assistant were $9 a week - gross.
thejazzpianoma,
Mar 1, 4:29am
The Ferrari was a good investment but not perhaps quite as fantastic as it sounds. Its equivalent to about a 15.3% p.a return.
You have to remember the $10'000 was invested half a century ago and compounding interest can work quite the trick over a time period like that.
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