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Car Forum / Hyundai Cars / May 2006Heres a current list of cars that depreciate quickly
http://foxnews.smartmoney.com/ask/in...story=20060516 > http://foxnews.smartmoney.com/ask/in...story=20060516 I didn't find the story at that link, but did find it at this longer link; http://foxnews.smartmoney.com/ask/index.cfm?story=20060516 >> http://foxnews.smartmoney.com/ask/in...story=20060516 >> > I didn't find the story at that link, but did find it at this longer link; > http://foxnews.smartmoney.com/ask/index.cfm?story=20060516 Yes. But consider this. My 1996 Hyundai Accent which depreciated like wild fire the moment I drove it off the lot after paying $7,500 for it brand new now has 210,192 miles on it. With an average mpg around 40 miles/gallon, I figure I got my money's worth and could care less about depreciation. With some luck, thus now starting to rust, machine will reach 300,000 miles on the odometer. I hope so. I'm trying to catch up with my wife's 1993 Subaru Impreza which has 229,313 miles on it before either car gives out. >>>http://foxnews.smartmoney.com/ask/in...story=20060516 >> [quoted text clipped - 8 lines] > the odometer. I hope so. I'm trying to catch up with my wife's 1993 Subaru > Impreza which has 229,313 miles on it before either car gives out. Very true. I also tend to keep my vehicles until "death due us part" and so depreciation is merely a fictitious expense dreamed up by accountants. Now if you are one of those "more money than brains" people who trade cars every year or three, then depreciation is a very real concern. Matt > Very true. I also tend to keep my vehicles until "death due us part" > and so depreciation is merely a fictitious expense dreamed up by [quoted text clipped - 3 lines] > > Matt Man, good thing you put the "more money than brains" in quotes or you might just have started another flame war :-) Of course, what other reason could someone have for buying a new car every few years except for having too much money and too little brain? How does someone with such a big brain wind up saying such stupid stuff all the time? Or do you really believe everything you say? Hey, you know you are entitled to your opinion. But you probably know what they say about opinions.... Eric P.S. - I usually turn over my cars every few years for the plain and simple reason that I am tired of them. Or something better has come along. I can't do it with my wife (too expensive). HAHAHAHA Here we go again ........ >> Very true. I also tend to keep my vehicles until "death due us part" >> and so depreciation is merely a fictitious expense dreamed up by [quoted text clipped - 25 lines] > reason that I am tired of them. Or something better has come along. I > can't do it with my wife (too expensive). > P.S. - I usually turn over my cars every few years for the plain and > simple reason that I am tired of them. Or something better has come > along. I can't do it with my wife (too expensive). Hmmm, a car is a tool , nobody "gets tired" of a tool ...... you can tell yourself what you want though . "Michael" <mcb4u@hotmail.com> wrote in news:ubadnXB2lfeHnfPZRVn- hA@comcast.com: >> P.S. - I usually turn over my cars every few years for the plain and >> simple reason that I am tired of them. Or something better has come [quoted text clipped - 3 lines] > tell > yourself what you want though . When a better tool comes along, something that makes the day-to-day use of that tool more desireable, and I get to try the new tool, yes, I do get tired of the old one rather quickly. When it is not costly to keep it, I will keep the old tool for future use, but with limited space and finances, keeping a car around forever isn't really practical. Thanks for your opinon though. Eric Eric SAID ....... P.S. - I usually turn over my cars every few years for the plain and simple reason that I am tired of them. Or something better has come along. I can't do it with my wife (too expensive). Good one Eric I too turn my cars over every few years, Better looks better technology ECT. I also did it with a wife once !!!!! but it was well worth the expense...hahahahaha Tunez >> Very true. I also tend to keep my vehicles until "death due us part" >> and so depreciation is merely a fictitious expense dreamed up by [quoted text clipped - 25 lines] > reason that I am tired of them. Or something better has come along. I > can't do it with my wife (too expensive). > Eric SAID ....... > [quoted text clipped - 9 lines] > > Tunez I'm starting to think that one time (with the wife) might be worth it too :-) But apparently we are wealthier in finances than thought. Eric >>Very true. I also tend to keep my vehicles until "death due us part" >>and so depreciation is merely a fictitious expense dreamed up by [quoted text clipped - 11 lines] > How does someone with such a big brain wind up saying such stupid stuff all > the time? Or do you really believe everything you say? Yes, I mean what I say and I say what I mean. I realize that is becoming increasingly rare in this PC world in which we live, but, hey, that is me. Matt >>>Very true. I also tend to keep my vehicles until "death due us part" >>>and so depreciation is merely a fictitious expense dreamed up by [quoted text clipped - 17 lines] > > Matt More power to you. I do the same most of the time. It's the fact that you believe what you say that scares the crap outta me. But, hey, that's just me. Eric >>>>Very true. I also tend to keep my vehicles until "death due us part" >>>>and so depreciation is merely a fictitious expense dreamed up by [quoted text clipped - 22 lines] > you believe what you say that scares the crap outta me. But, hey, > that's just me. Be afraid. Be very afraid. :-) I'm curious; what do I believe that "scares the crap outta" you? Matt Matt Whiting <whiting@epix.net> wrote in news:PArbg.8903$lb.806673 @news1.epix.net: >>>Yes, I mean what I say and I say what I mean. I realize that is >>>becoming increasingly rare in this PC world in which we live, but, [quoted text clipped - 12 lines] > > Matt That someone needs to have "more money than brains" to want a new car every few years. Eric > Matt Whiting <whiting@epix.net> wrote in news:PArbg.8903$lb.806673 > @news1.epix.net: [quoted text clipped - 17 lines] > That someone needs to have "more money than brains" to want a new car every > few years. Wow, if that scares the crap outta ya, then you are one timid individual. That wouldn't even raise my level of concern. An armed burglar trying to break into my house, wouldn't even scare the crap out of me. Well, if I couldn't get to my .44 magnum quickly enough, it might increase my anxiety a little. :-) Matt >>>I'm curious; what do I believe that "scares the crap outta" you? >>> [quoted text clipped - 5 lines] > Wow, if that scares the crap outta ya, then you are one timid > individual. OK, Mr. Literal. > That wouldn't even raise my level of concern. An armed burglar trying > to break into my house, wouldn't even scare the crap out of me. Well, > if I couldn't get to my .44 magnum quickly enough, it might increase > my anxiety a little. :-) Why would that worry you? Don't you have a .357 Mag and a .32 Baretta tucked in other locations like I do? Then there is always the Remington 12 ga on my wifes side of the room. Eric >>>>I'm curious; what do I believe that "scares the crap outta" you? >>>> [quoted text clipped - 7 lines] > > OK, Mr. Literal. :-) >>That wouldn't even raise my level of concern. An armed burglar trying >>to break into my house, wouldn't even scare the crap out of me. Well, [quoted text clipped - 4 lines] > tucked in other locations like I do? Then there is always the Remington 12 > ga on my wifes side of the room. No, I don't. I don't use toy guns of less than .40 caliber. Well, handguns, anyway. My 7mm Remington Magnum is obviously less than .40, but it still has plenty of punch. Any my Marlin .44 Magnum level action is a really handy gun in close quarters. Yes, hard to beat a 12 gauge for protection purposes. Matt > Very true. I also tend to keep my vehicles until "death due us part" > and so depreciation is merely a fictitious expense dreamed up by > accountants. I like depreciation. I buy my cars 1-2 years old and I like those cars that take a nice first year hit. > Now if you are one of those "more money than brains" > people who trade cars every year or three, then depreciation is a very > real concern. More money than brains? That's what I used to think too,, but the more I work on cars now, the more I believe those folks may not be so stupid. Drive 'em trade 'em in before you have to do *anything* to them, and go about the other things in life. What the heck - a car payment is a car payment. Why worry about depreciation if you're resigned to a car payment for the rest of your life.  Signature-Mike- mmarlowREMOVE@alltel.net >>Very true. I also tend to keep my vehicles until "death due us part" >>and so depreciation is merely a fictitious expense dreamed up by >>accountants. > > I like depreciation. I buy my cars 1-2 years old and I like those cars that > take a nice first year hit. Yes, you obviously have more brains than money. :-) >>Now if you are one of those "more money than brains" >>people who trade cars every year or three, then depreciation is a very [quoted text clipped - 6 lines] > payment. Why worry about depreciation if you're resigned to a car payment > for the rest of your life. Well, I've owned, I think, five vehicles now that I purchased brand new. Let me think - 84 Accord, 86 Comanche, 89 Acclaim, 94 K1500 and 2006 Sonata, yep, five, oh, 8 if you count motorcycles!. I've had more trouble and more trips to the dealer per unit time during the first three years of ownership of the new vehicles, than during any three year time I've owned any of the vehicles that were more than three years old, with only one exception. When my 96 minivan had an intermittent fuel pump problem at the 150,000 mile mark, I had it in the shop 4 times in less than a year before they found the problem. So, I my personal experience doesn't bear out the "new car is less trouble" theory. My vehicles have typically been most reliable in the 3-8 years of age and 40 - 150K miles range. That is one reason that you see my new car purchase spacing getting ever longer. :-) Three kids to tear up vehicles is the other reason! Matt > More money than brains? That's what I used to think too,, but the > more I work on cars now, the more I believe those folks may not be so > stupid. Drive 'em trade 'em in before you have to do *anything* to > them, and go about the other things in life. What the heck - a car > payment is a car payment. Why worry about depreciation if you're > resigned to a car payment for the rest of your life. I'm sure you are saying some of that tounge-in-cheek, but you do make a good point. Since 1990, my car payments have only gone down (admittedly, not much) each time I traded up. A few times I traded up my car loan was actually "upside-down", but that hasn't happened yet with my Hyundai's. Eric > > More money than brains? That's what I used to think too,, but the > > more I work on cars now, the more I believe those folks may not be so [quoted text clipped - 9 lines] > A few times I traded up my car loan was actually "upside-down", but that > hasn't happened yet with my Hyundai's. Actually Eric - not so tongue in cheek. I'm getting to the point where I'm really getting tired of working on cars. I have 5 to maintain in my household plus all of the "friends and neighbors". I'm really starting to see some value in simply driving them. Sometimes it seems that all you do is bend over an engine compartment, or lay underneath a tranny, or wet sand a body, or... Signature-Mike- mmarlowREMOVE@alltel.net > Actually Eric - not so tongue in cheek. I'm getting to the point > where I'm really getting tired of working on cars. I have 5 to > maintain in my household plus all of the "friends and neighbors". I'm > really starting to see some value in simply driving them. Sometimes > it seems that all you do is bend over an engine compartment, or lay > underneath a tranny, or wet sand a body, or... I have four to work on myself. I loved doing it back when I had the time. I would still love it, but with two toddlers running around, and a third on the way, I love playing with them more than working on the cars. And, personally, I think spending time with them is more important. Plus, sleep deprivation can make you do some weird stuff :-) I still do my own oil changes, and I will spend the time to at least diagnose a problem before I take the car somewhere to get fixed, but doing the work myself is a last resort. Plus, with the Hyundai warranty, I haven't had to do any myself for financial reasons. 'I drove it off the lot after paying $7,500 for it brand new now has 210,192 miles on it. With an average mpg around 40 miles/gallon, I figure I got my money's worth and could care less about depreciation' REPLY: Ill second that ! Boy, you cant complain about that car . >> http://foxnews.smartmoney.com/ask/in...story=20060516 >> > I didn't find the story at that link, but did find it at this longer link; > http://foxnews.smartmoney.com/ask/index.cfm?story=20060516 Hyundai and Kia suffer from one specific disadvantage in resale value: their warranty. Your shiny new Hyundai is a used car the moment you drive it off the lot. That means when it's sold, the 10/100 powertrain warranty evaporates, leaving you with the basic 5/60. Ever tried to purchase a 5 year powertrain warranty on a used car? That is the equivalent value lost in the transition between new and used. Chris >>> http://foxnews.smartmoney.com/ask/in...story=20060516 >>> [quoted text clipped - 13 lines] > > Chris That's still better than the 3/36 on many new cars. I am more inclined to believe that Kia and Hyundai take a big depreciation hit because many people still think of them as being junk, they're not anymore, at least not all of them, But that reputation is hard to shake. That coupled with the fact that for whatever reasons, it seems like Hyundai and Kia dealers bend over backwards to try to void the warranty and make you pay for everything. My sister has a 2000(?) Kia Rio with 15,500 miles on it that has been trouble from the day she purchased it, and she swears she will never buy another. I have a 2005 Hyundai Accent, My first Hyundai, Probably will be my last, Great little car, lousy dealer. My brother lost one Hyundai in hurricane Katrina, and traded the other one in shortly after, Neither replacement is a Hyundai. In my opinion, Hyundai has come a long way but needs to clean up its act with many of their dealers, It's hard to build customer loyalty when the dealers try to screw everybody. Jack Cassidy > >> http://foxnews.smartmoney.com/ask/in...story=20060516 > >> [quoted text clipped - 7 lines] > powertrain warranty on a used car? That is the equivalent value lost in the > transition between new and used. Huh? You lost me with that logic Chris. The Hyundai comes with the 5/60 power train warranty used, and you would have to purchase that with most other used cars. How is that a depreciation factor? Hyundai and Kia suffer steep depreciation because of the reliability issues in their earlier years. The quality of these cars has come up enormously in the past few years and as a result the depreciation is starting to reflect that. In a short time you will see them depreciating no more steeply than any other car in their class. Signature-Mike- mmarlowREMOVE@alltel.net >> Hyundai and Kia suffer from one specific disadvantage in resale value: their >> warranty. Your shiny new Hyundai is a used car the moment you drive it off [quoted text clipped - 6 lines] > power train warranty used, and you would have to purchase that with most > other used cars. How is that a depreciation factor? Remember, depreciation counts how much value you lose from its purchase price. Hyundai warranties are priced into the car when purchased. You already paid for it. The value of a depreciated Hyundai is its value to a used car buyer. Suppose you bought a brand new Hyundai: Value of brand new Hyundai to you (what you paid) = (value of 100/10 warranty) + (value of 5/60 warranty) + everything else Value of your brand new Hyundai to another buyer = (value of 5/60 warranty) + everything else Notice the absence of (value of 100/10 warranty) in the second equation. So even before taking regular depreciation into account, you're out a chunk of change. Manufacturer warranties are not worthless. I myself have used it for an Accent's exhaust repair worth $300, and I know someone who used her warranty to fix a busted Tiburon transmission at 80K. It's that kind of value that should be priced into the depreciation equation. Chris >http://foxnews.smartmoney.com/ask/in...story=20060516 I wonder if they base their depreciation calculations on List Price or the Actual Price Paid. If they base the depreciation calculation on List Price, then the results are meaningless because many car brands (such as Hyundai) sell well below list price whereas other brands (such as Honda) sell at about List Price. If would be incredibly stupid to base the depreciation calculation on List Price rather than Actual Price but I would not be surprised if they did. Darwin >>http://foxnews.smartmoney.com/ask/in...story=20060516 > [quoted text clipped - 9 lines] > > Darwin You make an excellent point, but how would they possibly calculate it on price paid? They would have a different number for almost every car sold. Eric >>http://foxnews.smartmoney.com/ask/in...story=20060516 > [quoted text clipped - 9 lines] > > Darwin To follow up on this, I visited http://www.kbb.com and http://www.nada.com and did a search on my car ('06 Sonata GLS V6). Both sites came up with just about $16,100 on a trade-in in "good" condition. That is exactly what I paid for my car brand new in September, 2005. Eric > To follow up on this, I visited http://www.kbb.com and http://www.nada.com > and did a search on my car ('06 Sonata GLS V6). Both sites came up with > just about $16,100 on a trade-in in "good" condition. That is exactly what > I paid for my car brand new in September, 2005. Sorta puts a dent in the depreciation story doesn't it Eric? Signature-Mike- mmarlowREMOVE@alltel.net >>To follow up on this, I visited http://www.kbb.com and http://www.nada.com >>and did a search on my car ('06 Sonata GLS V6). Both sites came up with [quoted text clipped - 5 lines] > > Sorta puts a dent in the depreciation story doesn't it Eric? Except that you can't confuse those values with what you could actually sell the car for. Unless you find a real idiot, which is always possible, nobody is going to pay that much for a used car when they can buy a new one for a few hundred more given the current new car incentives. I'm just glad that depreciation isn't a factor for me. :-) Matt >>>To follow up on this, I visited http://www.kbb.com and >>>http://www.nada.com and did a search on my car ('06 Sonata GLS V6). [quoted text clipped - 14 lines] > > I'm just glad that depreciation isn't a factor for me. :-) Matt, if you go to the sites and try it, the price I gave was for a TRADE-IN. That would be what a dealer would supposedly give me for my car to trade it in. The full retail price was shown as $21,000 and change. Which I believe is only a few hundred below what the window sticker was. Although I think these might be a bit on the high side, these are sites I have used in the past to negotiate with the dealer, and I have always come pretty close. Yup, so much for depreciation. Eric >>>>To follow up on this, I visited http://www.kbb.com and >>>>http://www.nada.com and did a search on my car ('06 Sonata GLS V6). [quoted text clipped - 20 lines] > change. Which I believe is only a few hundred below what the window > sticker was. If you can get a dealer to give you that price for your trade-in and still give you a price well below sticker, then you are doing a good job of negotiating. I've found I can get a great deal on a new car, or I can trade in my old car, but it is hard to do both. The good thing is that I've never had any problem selling my old cars privately. Usually relatives but them as I maintain them well and they are usually in very good shape for their age and mileage. Matt > If you can get a dealer to give you that price for your trade-in and > still give you a price well below sticker, then you are doing a good job [quoted text clipped - 3 lines] > relatives but them as I maintain them well and they are usually in very > good shape for their age and mileage. Absolutely valid point Matt. Like you, I seldom trade. My cars have a lot of life left in them at over 200,000 miles and they still look good, so they go to someone who can use them. They wouldn't bring squat for trade anyway. But you're right - you're typically only going to get one thing from a dealer - a decent trade in value or a decent negotiated price. Signature-Mike- mmarlowREMOVE@alltel.net > > If you can get a dealer to give you that price for your trade-in and > > still give you a price well below sticker, then you are doing a good job [quoted text clipped - 9 lines] > But you're right - you're typically only going to get one thing from a > dealer - a decent trade in value or a decent negotiated price. The people who spend $15000 on a hyundai have more to lose then the person who spends $30000 on an infiniti/lexus/acura when they trade it in every 2-3 years, simply because the person buying the higher priced car ussually doesn't care how much money they are spending. Then there are those people that stretch to afford the $30000 car, and then skimp on maintenance and insurance and either end up wrecking their car and having to scrape to get the deductable together, or skip every few oil changes, transmissions flushes, etc... >>>If you can get a dealer to give you that price for your trade-in and >>>still give you a price well below sticker, then you are doing a good job [quoted text clipped - 23 lines] > years, simply because the person buying the higher priced car ussually > doesn't care how much money they are spending. What? Whether you care about the money or not doesn't change how much you lose. > Then there are those people that stretch to afford the $30000 car, and then > skimp on maintenance and insurance and either end up wrecking their car and > having to scrape to get the deductable together, or skip every few oil > changes, transmissions flushes, etc... Those who skip transmission flushes are just skipping getting ripped off for an unnecessary service. Nothing wrong with that. Now skipping oil changes is a different matter... Though most folks I know who own expensive cars take them back to the dealer for service so, assuming the dealer is competent and conscientious, those cars are probably very well maintained. Matt > >>To follow up on this, I visited http://www.kbb.com and http://www.nada.com > >>and did a search on my car ('06 Sonata GLS V6). Both sites came up with [quoted text clipped - 10 lines] > possible, nobody is going to pay that much for a used car when they can > buy a new one for a few hundred more given the current new car incentives. Well, that doesn't really play Matt. It's a used car so it's only reasonable that it won't sell for what you necessarily paid for it. That does not change the fact that the average national trade in value is approximately what Eric paid for his. That's about as good as one can really hope for. Signature-Mike- mmarlowREMOVE@alltel.net |
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