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Pacifica - Resell value ugh.
Chrysler Dodge, Plymouth, Jeep, Eagle, etc info/talk (rec.autos.makers.chrysler)
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#11
 
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Re: Pacifica - Resell value ugh. -
08-03-2004
, 10:42 PM
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Art wrote: I've owned Chryslers, Fords, Toyotas, Subaru's, GM and others. None hold their value worth a darn. That is why I drive them a good 6 years or so and if I wanted to save more money I would drive them longer. I agree in an absolute sense, but the Japanese brands hold their value much better than American brands. Same for Harley motorcycles vs. Japanese brands. Doesn't make any sense to me, but that is the reality. Matt |
#12
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Bought a 2004 Pacifica back in October for around 30K. Life demands (New dog, new child) have started us thinking about a larger SUV/Minivan. Went to CarMax to price our Pacifica: They told 18.500(Wholesale). KBB quoted 19.5(Wholesale)/22.6(Retail). Pretty sad for just 9 months later. I think I'm learning my lesson about buying a new model. With all the 2004s still out there, i guess its to be expected. This is pretty much true of any new vehicle unless it has a huge |
old and let someone else take this huge inital depreciation hit.
Steve B.
#13
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Charlie Smiley wrote: Bought a 2004 Pacifica back in October for around 30K. Life demands (New dog, new child) have started us thinking about a larger SUV/Minivan. Went to CarMax to price our Pacifica: They told 18.500(Wholesale). KBB quoted 19.5(Wholesale)/22.6(Retail). Pretty sad for just 9 months later. I think I'm learning my lesson about buying a new model. With all the 2004s still out there, i guess its to be expected. However, i will admit, we love the Pacifica. Mini-Van vs SUV debate aside, it drives great and we have been very happy with it, except for the extra room we need. Considering its current value(and Loan payoff) the dog and kid will have to learn to ride together cozily for the near future. ;-) Charlie That and the fact that Chryslers don't hold their value all that well. Maybe better than Fords, but worse than almost every other brand. Matt |
depreciate like the "good old days". You used to be able to buy a 2 year old
car for half of what it cost new, but it's hard to do that now. Chryslers do
depreciate a lot, probably the worst of anything. Lincoln town cars are
pretty bad.
You can sort of tell what depreciates the most by comparing 3-year lease
payments for all sorts of dissimilar vehicles. Sometimes there are different
size up-front payments, but you can just add all that in.
#14
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A car is not an investment. It is money spent. |
money on it. You gain (hopefully) a utility out of it's use that is
far in excess of the value of the money spent on it.
A car is not a required purchase. It is possible to live one's life and
not own a car. You will be spending a lot of time on the bus. But
people invest in the utility of a car so that they basically gain time for
themselves and freedom to do things they couldn't do using mass transit,
that is an investment.
Ted
#15
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A car is not an investment. It is money spent. Interestingly, most light aircraft keep appreciating in value. Car makers ought to do a scientific study why their products are reduced to scrap metal value in a couple of years while planes are as good as gold... or better. |
liability issues and prices go up significantly every year, so few
people can afford to buy them.
nate
#16
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Matt Whiting wrote: That and the fact that Chryslers don't hold their value all that well. Maybe better than Fords, but worse than almost every other brand. Matt I always get a kick out of complaints of low resale value primarily because it is a two-sided coin. The fact that Chryslers have a low resale value meant that I could afford to buy an (IMO) excellent 3 year old car that cost $25k when new for around $10.5k. IOW, the bad thing about Chryslers is that they have low resale value. The good thing about Chryslers is that they have low resale value. Just depends if you are a new car owner selling or a used car owner buying. |
old, but I also keep them till they croak so the depreciation isn't a
big factor for me either.
But if you are in the situation of the OP, it is a huge difference
between a Toyota and a Chrysler.
Matt
#17
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"Nomen Nescio" <nobody (AT) dizum (DOT) com> wrote in message news:cf5a4881f7373895916a9b293b56d11b (AT) dizum (DOT) com... A car is not an investment. It is money spent. This isn't true. A car is an investment. You spend a set amount of money on it. You gain (hopefully) a utility out of it's use that is far in excess of the value of the money spent on it. A car is not a required purchase. It is possible to live one's life and not own a car. You will be spending a lot of time on the bus. But people invest in the utility of a car so that they basically gain time for themselves and freedom to do things they couldn't do using mass transit, that is an investment. Ted |
are investments are classic cars that are appreciating.
Main Entry: investment
Function: noun
1 : the outlay of money usually for income or profit : capital outlay;
also : the sum invested or the property purchased
2 : the commitment of funds with a view to minimizing risk and
safeguarding capital while earning a return —compare SPECULATION
Source: Merriam-Webster Dictionary of Law, © 1996 Merriam-Webster, Inc.
Matt
#18
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Ted Mittelstaedt wrote: "Nomen Nescio" <nobody (AT) dizum (DOT) com> wrote in message news:cf5a4881f7373895916a9b293b56d11b (AT) dizum (DOT) com... A car is not an investment. It is money spent. This isn't true. A car is an investment. You spend a set amount of money on it. You gain (hopefully) a utility out of it's use that is far in excess of the value of the money spent on it. A car is not a required purchase. It is possible to live one's life and not own a car. You will be spending a lot of time on the bus. But people invest in the utility of a car so that they basically gain time for themselves and freedom to do things they couldn't do using mass transit, that is an investment. Ted Your definition isn't the generally accepted one. The only cars that are investments are classic cars that are appreciating. |
(presumably if you sell them)
But definition #1 covers just about all vehicles purchased
for business use. That is what "capital outlay" means. A capital
expenditure
is one made on an item that does not earn a rate of return when the item
is sold, instead it earns a rate of return when it's used.
If I work out of my home and I buy a car to enable me to work better, I
am making an investment.
The IRS understands this which is why they allow you to write off vehicles
other than just classic cars.
If I work for Domino's Pizza and I buy a car to shuttle myself around, as
well as deliver pizzas, when I am delivering pizzas I am making income -
which also matches definion #1. The IRS also understands this which is
why they allow Domino's Pizza to pay me mileage, then deduct this from
their taxes.
It is a very thin line between investing in a vehicle to make an income -
like delivering pizzas, broom samples or whatever - and investing in a car
so I am then eligible to commute to a job that is on the other end of the
city and make my income from that job. This is what freedom to do things
you couldn't do using mass transit means. In fact a car purchased as a
pure commuter vehicle is for all intents and purposes, an investment. The
only reason the IRS doesen't recognize it for tax purposes is because
everyone who works does this, and if the IRS did, the amount of mileage
deducted would bankrupt the country.
Even so, though, people still loophole this by buying vehicles then rolling
the vehicle loans into home equity loans, and getting the deduction that
way.
"money spent" is money spent on crap like candy, junk food, vacations,
xbox games, etc. in short, stuff that consumes time, and gives absolutely
no monetary return to you whatsover. A car is far, far from this.
Ted
Quote:
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Main Entry: investment Function: noun 1 : the outlay of money usually for income or profit : capital outlay; also : the sum invested or the property purchased 2 : the commitment of funds with a view to minimizing risk and safeguarding capital while earning a return —compare SPECULATION Source: Merriam-Webster Dictionary of Law, © 1996 Merriam-Webster, Inc. Matt |
#19
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| A car is not an investment. It is money spent. Interestingly, most light aircraft keep appreciating in value. Car makers ought to do a scientific study why their products are reduced to scrap metal value in a couple of years while planes are as good as gold... or better. |
-----------
Alex
#20
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Bought a 2004 Pacifica back in October for around 30K. Life demands (New dog, new child) have started us thinking about a larger SUV/Minivan. Went to CarMax to price our Pacifica: They told 18.500(Wholesale). KBB quoted 19.5(Wholesale)/22.6(Retail). Pretty sad for just 9 months later. |
sunroof, AM/FM/CD/DVD w/Surround Sound, Chrome Wheels). It now has 18,000 miles
on it. My KBB quote is $23K(W), $26.6K(PP) and $28.8K(R). To me that is not too
bad for almost 12 months later.
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