Also older citizen. Usually buy new or near new. Sell at 4yrs. Have been told that is the most economical time to buy. If so the next buyer gets a good deal. I'm happy.
steve56467,
Apr 5, 5:45pm
No set time but often happens around 2 years if I feel the need. Current one is 2 years in and considering swapping the excellent Subaru for an actual 4wd - ONLY because of the way 4wds hold value. Problem is I’m so happy with the car overall to trade it
dublo,
Apr 10, 9:02am
Our modern car would have been $49500 new, we bought it 10 years later for $9500. That was a big loss for the original owner (although he probably didn't worry about it as he had passed away.) 12 years on its value has dropped to about $5000, so not as much loss if we had to sell, but certainly no plans to do so.
harm_less,
Apr 10, 1:05pm
The study mentioned, but no link provided, in this Stuff article suggests around 50% depreciation in the first year of a car's ownership. https://www.stuff.co.nz/motoring/119158244/new-car-depreciation-the-winners-and-losers Sounds like a good reason to not buy brand new. Also some interesting comment regarding EV depreciation in the last paragraph, together with distancing them from hybrids in their expected depreciation.
30years and 350,000km with my Corolla, just retired it to clean it up a bit when I retire. Have replaced it with a '89 Corolla 120,000km so those two will see me through a few more years yet.
gunhand,
Apr 10, 2:09pm
How can you be still alive? I mean one can not venture out these days with such life saving items as, lane departure, collision avoidance, blind stop warnings, heads up displays, ABS, SCS, radar cruise control, Hill start, hill decent, TC, HIDs, 28 airbags, Bluetooth, internet connectivity, satnav, auto lights, auto wipers, cameras on every corner, a beep for every conceivable operation in vehicle, speed limit indications, tire pressure warnings and about 600 other items that we can not seem to do with out. You sir should no longer leave the boundary of your abode as certain death is lurking. Good thing is your cars will no doubt still be going when modern stuff will be an uneconomical pile of plastic due to one chip malfunction.
franc123,
Apr 10, 2:21pm
It's useless making depreciation comparisons between countries that import used cars to those that don't, imports have always dragged used values of NZ new cars down. Remove imports from the equation and the NZ market would revert to what it was pre mid 80's, ie basically specified cars that were rudely expensive for what you were getting because of low supply. This effect is present in the commercial market, you only have to look at the silly money asked for these tired ex company fodder crew cab utes for proof of that.
franc123,
Apr 10, 2:24pm
Within your home is the most dangerous place to be, ask ACC. Your car is quite safe by comparison, ditto your workplace. The stats of how many claims got made for cuts from these Smeg knife sets after that supermarket promo that all these dingbats were fighting over like rabid timberwolves is enough proof of that in itself.
toenail,
Aug 23, 9:08am
It's not really a loss, the owner who brought it new enjoyed it for 10 years. a $150K car would lose $50k after the first 2 years.
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