[VIC] Car Depreciation

[NickyG]

Just wondering what the deal is with depreciation. When does a car depreciate? at the time of plating or at the start of the year. Im looking at getting a new car and wanted to know when the best time to buy a car is. Figured if i wait til next year the car will be cheaper?

 

[Drawnnite]

a car depreciates as soon as you drive it out the dealership (well not exactly, but if you sold it the next day you probably owuldnt get your money back)
if you wait until next year on most occasions (or atleast how i see it) a newer model will be out. or atleast an updated model.

thats about all i can help you with.
not sure when the best time is to buy a car
other than when you have sufficient funds. and if you are taking a loan out for it, you know you can meet the repayments.

 

[ari666]

30% drop in value once you drive it off the lot.

 

[dmacey]

The initial drop is because, dealer delivery and statuary charges are added to the RRP of the car which you will never regain. Following that the market dictates the value of your car through many factors.

Colour
Transmission
Condition
Options
KMs
Service history
Location
etc etc

Cars almost always drop in value, it's the name of the game.

 

[Dr HaxZaw]

Well you can make your money back... you just have to wait 50 years, hope your car becomes very rare and is considered a classic

seeing as this is a commodore forum i really doubt any new commodore is going to fullfil that unless you get a HSV with a few custom things on it

 

[Jarrad]

The best time to buy a car is at the end of the month or end of Financial Year.

Jarrad.

 

[NickyG]

yeah i understand that a car depreciates once it leaves the dealership. However cars also depreciate each year. Was just wondering at what point they depreciate. Im looking at getting a VE omega but the 22k for a 09 is just a little out of range at the moment so was wondering when they will drop in price.

 

[Jesterarts]

yeah i understand that a car depreciates once it leaves the dealership. However cars also depreciate each year. Was just wondering at what point they depreciate. Im looking at getting a VE omega but the 22k for a 09 is just a little out of range at the moment so was wondering when they will drop in price.

There isn't really a "point" when a car depreciates once it leave the dealership. It's just an ongoing thing. Usually you do see prices drop a bit when a new series, etc is released.

So VE Series I drops a bit when the Series II comes out. But aside from that... it's supply and demand and what people are willing to take for their car.

 

[Drawnnite]

also some cars hold their value much much better then others.

prime example is v6 manual utes.
most people still ask 6-10k for them
where as the sedans are much much lower (sorta 2-3k)

 

[Not_An_Abba_Fan]

The best time to buy a car is when you want one.

Don't look at a car as having "value" or an "investment". If it does what you want it to do and you are happy with it, buy it. What it costs or what its worth is irrelevant.

All cars drop in price, its all relative. People use the terms "depreciation" and "value" and "investment" with cars, unless you are a dealership that buys and sells cars, they are not an investment, nor are they an asset. They are a commodity.