not yo 90s kia

[ijustposthere]

WTF? Of course cars retain value. Maybe not as much as other assets but they do have value.

Not much. By the time the typical person finishes paying off their car (four to six years), the amount they'll get back isn't even half what they paid. And that's just the car itself, that doesn't include the true cost of owning the car. That's just typical maintenance and mileage. This is especially true now with all the sensors and computer components that aren't as easy to work on yourself as it was in the past.

The greatest value of a car is that it gives the ability to someone outside of walking, biking, or public transporting range to get to work and make money consistently. The car on it's own doesn't add much to an individuals wealth past the first year, of which it likely still belongs to the bank anyway. Until you actually own the car, it isn't building any equity, and has almost no value. By the time the average person pays it off, it's already lost much of it's actual value.

Anything over five years old is significantly less valuable because it is not usually eligible to be CPO'd. If you have just paid off your car and trade it in after five years, you never had a chance for the car to actually hold value to your actual worth. Now you get another car and it's again owned by the bank. By then, it's already lost more than half it's value.

The best way to get value out of a car is to buy it one year old, slightly used, with low miles. By then, the car has already depreciated the most it will on a per year basis. Then you pay it off as quickly as possible so it actually is an asset to you. Then you use it as long as possible and take care of it in the hopes of holding off any major mechanical issues.

 

[Hawkeye OG]

Not much. By the time the typical person finishes paying off their car (four to six years), the amount they'll get back isn't even half what they paid. And that's just the car itself, that doesn't include the true cost of owning the car. That's just typical maintenance and mileage. This is especially true now with all the sensors and computer components that aren't as easy to work on yourself as it was in the past.

The greatest value of a car is that it gives the ability to someone outside of walking, biking, or public transporting range to get to work and make money consistently. The car on it's own doesn't add much to an individuals wealth past the first year, of which it likely still belongs to the bank anyway. Until you actually own the car, it isn't building any equity, and has almost no value. By the time the average person pays it off, it's already lost much of it's actual value.

Anything over five years old is significantly less valuable because it is not usually eligible to be CPO'd. If you have just paid off your car and trade it in after five years, you never had a chance for the car to actually hold value to your actual worth. Now you get another car and it's again owned by the bank. By then, it's already lost more than half it's value.

The best way to get value out of a car is to buy it one year old, slightly used, with low miles. By then, the car has already depreciated the most it will on a per year basis. Then you pay it off as quickly as possible so it actually is an asset to you. Then you use it as long as possible and take care of it in the hopes of holding off any major mechanical issues.

I'm trying to find the article I read one time, but it basically broke down the different scenarios on the cheapest way to own a car. Cheapest way was to buy a vehicle 3 years old with low mileage and drive it for 14 years. The second cheapest was to buy a 10 year old car and drive it for 5 years. By far the most expensive way to own a car is to buy a brand new one and get a new one every 5-6 years. The only way a brand new car makes sense is to drive it for 20 years.

 

[ijustposthere]

I'm still bumping along in an 11 year old Pontiac. My wife hates it, but I consider it a classic because they don't make them anymore. Just shy of 110k miles, I'd say it's got another 50k miles on it.

You can consider a vehicle an asset, but it's a depreciating asset. It sure as shit isn't going to appreciate. I shake my head at people who buy brand new cars. It's like a dick measuring contest to see who can have the highest installment debt.

Just moved on from my 04 monte carlo, after thirteen years. It had 15k miles when I bought it, 156k after all was said and done. Car was still running strong, but I could feel that something big was likely on the horizon. It wasn't running near as smooth as it was even a couple years ago.

 

[Burque]

I will say that Kia has changed in the last 5-7 years. They seem to be making much better vehicles than they were in the early 2000's. At least in the car dept. I am not really sold on their SUV's.

 

[ijustposthere]

I'm trying to find the article I read one time, but it basically broke down the different scenarios on the cheapest way to own a car. Cheapest way was to buy a vehicle 3 years old with low mileage and drive it for 14 years. The second cheapest was to buy a 10 year old car and drive it for 5 years. By far the most expensive way to own a car is to buy a brand new one and get a new one every 5-6 years. The only way a brand new car makes sense is to drive it for 20 years.

A car typically will depreciate twenty percent in it's first year. At year five, it's depreciated roughly fifty four percent. If you could find a three year with excellent mileage, then there's certainly great value to be had. My goal is to find low mileage so the previous owner hasn't had much of a chance to **** it up.

 

[Omeletpants]

Still doesnt change my original premise that a luxury Kia will depreciate more than my Audi. In the end that's real money difference

 

[Burque]

Still doesnt change my original premise that a luxury Kia will depreciate more than my Audi. In the end that's real money difference

Not if your OOP expense is greater throughout the life of the car. They could very well be equal or worse for the more expensive car, simply based on maintenance.

 

[Omeletpants]

Not if your OOP expense is greater throughout the life of the car. They could very well be equal or worse for the more expensive car, simply based on maintenance.

it isnt

 

[ijustposthere]

Still doesnt change my original premise that a luxury Kia will depreciate more than my Audi. In the end that's real money difference

While true, it's still irrelevant. Both cars will depreciate drastically, and similarly priced vehicles aren't going to hold significantly more value than their "inferior" counterparts after five years. Paying just under $50k for a 2013 Audi will get you less than $20k today through a private sell. A steeper price drop would come with a trade in.

A 2013 Buick Lacrosse for $40k will get you just under $15k. Considering the Audi cost 10k more originally and costs considerably more to maintain means the Buick got you a better value. Like I said, it's pretty stupid to own a car outside of them being completely necessary to make a living. In terms of investing, buying a brand new car is basically the dumbest thing to put your money into.

 

[Burque]

it isnt

Uhhhmmm ok I do not know how you are comparing a 4/50 vs a 10/100 warranty and saying your OOP isnt greater.

Not to mention pretty much every single maintenance issue will cost more on an audi than a Kia.

 

[ijustposthere]

Thinking about resale value when purchasing a vehicle is pretty dumb. It shouldn't be much of a factor. If you're buying for pure enjoyment, that's one thing. If you're buying for general use, dependability and affordability should be at the top of your reasoning for purchasing a vehicle. Regardless, resale value is fairly useless to both situations.

 

[AussieBear]

WTF? Of course cars retain value. Maybe not as much as other assets but they do have value.

true value of a car is to run it into the ground ova a decade+ unless it be a collectors item.. to get yo moneys worth.. duh

 

[AussieBear]

I will say that Kia has changed in the last 5-7 years. They seem to be making much better vehicles than they were in the early 2000's. At least in the car dept. I am not really sold on their SUV's.

well.. they have had engineers and designers from bmw and audi on the team for awhile now.. beginning in 05 or 06 i think..

ex-bmw m designer pierre leclercq was recently hired to head design..

 

[xer0h0ur]

Die in forest fire, simply for posting a Doug Demuro video. The most boring car reviewer on YouTube.

 

[Adipost]

Idk about murica since ive been gone so long, but kia ownership in australia over this same time has exploded going by me eyes. theres at least 15-20 in our small side of the neighborhood. aussies dont like shits boxes.. if it aint reliable enough, they aint buying it.. 7 yr warranty too..

took the wifes car in for a 105,000 km (roughly 65k miles) service the other day and they gave me a new demo as a loaner (trying to sell me a new one of course). while my wifes car was on the lower entry level side we got a mid level model and its been okay. worst parts are the rough ride and its noisy. but being an economical car, its expected imo. the loaner they gave me actually took care of those issues.. ride was a lot softer and noticeably quieter.. and it was the base model. what i did notice in the newer model and what bothered me in hers is the aircon.. no guts to it imo.. 1 and 2 feel tool week.. you need to crank it to 3-4 if anyone is in the back.. but i like air a bit too much

i was skeptical buying a kia at first but after the wife having owned one for 4-5 years.. id be more than willing to give them a second chance.. if i ever get a job again n have extra to waste..i wouldnt mind stepping up to the stinger for meself..

[video=youtube;ByLXPaLmzJk]https://www.youtube.com/watch?v=ByLXPaLmzJk[/video]

That’s a nice lookin car.