Does anyone know how much our TSXs depreciate each month?
With twins on their way we might need to get a larger car, and I'm trying to figure out the specifics regarding a payoff figure vs. what the car is worth.
Thanks.

 

Depreciation coincides with years and miles. Months aren't a true factor. They look at the year and compare the miles. If you buy a car in September and put 20,000 miles on it in 2 months it's pretty much worth the same year model bought in June with the same miles on it.

 

I heard that 15% per year is an average depreciation number for average miles. Based on that, here's what your car may be worth at the end of year (starting at $28k)...

1 $23,800
2 $20,230
3 $17,200
4 $14,600

These seem a little too low (too fast depreciation), so try it with 10% or 12%.

 

You can go to Edmunds.com to get a "True cost to own" model. Basically breaks down the depreciation for 5 years. First year depreciation is generally higher.

 

Wow - that's a great feature! Some interesting notes:

- My truck costs $0.68/mile to own (2004 Dodge Ram 2500)
- a 2003 M3 costs $0.77/mile to own
- a civic cost $0.42/mile
- a 911 Turbo cost $1.93/mile
- an 05 TSX costs $0.57/mile

Just about all of them are much higher than the $0.45/mile that the government allows companies to reimburse employees for company use of a car. Hmmm.