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This depreciation is depressing

10705 Views 31 Replies 29 Participants Last post by  Bullyveldt
I've never owned a car thats falling this hard this fast, bought for under 20k used 2 years ago and now it's worth only 8k with only 20k more miles. I mean jeez, new German luxury cars don't depreciate that fast, it's really soul crushing to know i've still got a long while on my note before i have literally ANY equity in this car.

As a car enthusiast I usually buy used trade in every few years but this dang volt is worth so little that i doubt it will ever make sense to get rid of. Anyone else feel like buying a volt was a huge mistake? with gas prices as it is theres not really much savings to be had and due to the tech as it ages it will be impossible for anyone to work on but the dealership.

Also getting almost daily reduced propulsion error......dealership can't figure it out ><
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I've noticed that most people I know, but not all, follow a trend that their parents set. If the parents only leased cars or bought new, they did the same. My dad only bought used cars, and I understood the logic in it. The tradeoff of course is the risk of mechanical problems and inherited physical condition but the savings usually covers that risk with extra to spare.

I always buy used and here's my formula. I look at vehicles that are between 2 and 5 years old and run every site that has them listed. I usually see a drop off point between a year where the prices fall the most. After that year they seem to trickle down. So the first big drop is the year I usually go for. I have always bought high miles cars as long as I can see a great maintenance history. That tells me so much more than "low miles". The market seems to think differently, to my benefit. My Lexus LS400 had 339k miles when I decided I wanted something else. I bought my 2010 Ford Raptor with 90k miles and at 120k now have only replaced 1 seat heater element. And my 2013 Volt with 105k has been perfect for the couple of months I've owned it. Unless you absolutely can't live with your Volt or a major repair out of warranty exceeds the value, keep it and drive the living daylights out of it. Stop looking at the sales. And remember you are making up that depreciation year after year in fuel savings.
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