this post was submitted on 23 Nov 2024
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Asklemmy
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financially aim for minimal depreciation. typically thats buying a 3 year old car and selling it when its 6 or 7. try to find total cost of ownership data to minimize repair costs.
practically find one that suits your needs.
Interesting. I've been buying mine at 3 years and keeping them until they become uneconomic to repair. My current car is 11 and it's still in great shape.
What is the logic behind selling at 7? Are you considering increasing efficiency of new models and average maintenance burden?
the logic is depreciation. if you sold your car at 7 it is worth a lot more than at 11. imagine buying a 1 year old cellphone and selling it at 2 years old. compare that to buying a brand new cellphone and keeping it 6 years. the depreciation is related to the markets expectations of the items functionality vs it needing expensive repairs. a 3-7 year old car generally is reliable and considered functional. obviously different brands and models differ on these curves. a 7 year old honda is very different from a maserati.
Makes sense from a financial point of view. I tend to do extensive research before a big purchase and wouldn't want to be changing cars too often.
From an energy and pollution point of view it makes sense to buy quality and maintain the vehicle over a long time period.
It's tricky at the moment because we are transitioning to electric powertrains and these vehicles are not comparable to internal combustion.