Quote:
Originally Posted by jyl
Early 2000s F150 go for about $5000 here. Annual depreciation minimal. Liability and comprehensive are cheap. No reason to get collision. Registration is maybe $200.
The breakeven would be about 2.5 years at $2.50/gal. 1.5 years at $4.00/gal.
I see a lot of 10 year decisions - which is what new car purchases are, in my book - being made with the assumption that oil will stay at $30-40 for the duration. There is going to be a lot of whining and moaning in a couple years! Right about when the depreciation hit from selling that MY2016 gas guzzler will be most painful.
I'm not nagging the OP, what car daepp buys is his business and he can afford the extra $300-500/mo without a blink. Just find it interesting that when gas prices move, car purchasers change their purchase choice. The current price of gas obviously affects car choice, when actually the relevant factor is the average price of gas over the next decade.
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You aren't taking into account parking. For me to have an extra car would require paving a parking space( more expensive than the car) or pay for a locked yard. Uncovered parking is $60/month out here!