Plan B Forum

Gee why didn’t I think of that.

I've always been a deep thinker. Innovative ideas like that come to me naturally.

Mileage is everything.

In July 2009 I bought the first and only KIA Forte EX the dealer had for $19,250 (OTD). I have driven it only 70,000 miles in 10 years. If I wanted to sell it today -- with no need for a quick sale -- I'm sure I could get over $7,000 for it. Tires, brakes, oil, inspections, and small odds n' ends, have been my only maintenance expenses.

Knowing how long I keep, and carefully drive my cars, I will not think twice about purchasing another vehicle directly off the showroom floor. My one concern at this point, however, is that I'm the one depreciating the fastest.

MGMcAnick wrote:

Long Run wrote: A reduction in value of $2,000 for a year of driving a nice new car is a good value! That said, I have bought my last couple of cars used at an auction buyer (lease returns mainly of luxury brands) and saved $15,000 off of cars that are a year old.

Please explain your math. You say $2000 a year of depreciation is a good value. Yes it is, but it seems low for most cars. Then you go on to say you buy year old off lease cars for $15000 off of "new". So which is it, $2000 or $15000 in the first year?

It's both. Some cars depreciate very little in the first year or two if the buyer gets a reasonable deal on the new car; Toyotas are a good example. Some cars depreciate a lot -- like luxury brands bought on 1-2 years leases -- so there is a big discount for buying slightly used. The point is that the adage that a car loses X% of value when it is driven off the lot may or may not be true and is not a good rule of thumb. As pointed out by several others, for those who hold a car for a long time, the immediate drive-off depreciation is irrelevant.

RayThom wrote:If I wanted to sell it today -- with no need for a quick sale -- I'm sure I could get over $7,000 for it.

Since the Forte was introduced in the USA in 2009 as a 2010 model, I'm assuming that's what you have. They are nice cars. If you can get $7000 for it, you must be living right.

Good luck.

NADA shows it at $5875 with those miles, A/C, alloy wheels, and an automatic transmission.
https://www.nadaguides.com/Cars/2010/Ki ... -LX/Values

MGMcAnick wrote:

RayThom wrote:If I wanted to sell it today -- with no need for a quick sale -- I'm sure I could get over $7,000 for it.

Since the Forte was introduced in the USA in 2009 as a 2010 model, I'm assuming that's what you have. They are nice cars. If you can get $7000 for it, you must be living right.

Yes, its a 2010... first model year for the Forte... a black one. (The 10 year D/T warranty expires on 7/31/19.)

I have a request to be contacted by the dealer for a Forte5 -- whenever they come to the US. It looks like a small Stinger.

Update.

MGMcAnick wrote:Let us know what the Hybrid's true MPG is

So far I'm almost exactly matching the EPA's figures of 38 mpg on the highway (more like 37 if I push it up to 75 mph) and 41 mpg around town. I've been keeping it in "ECO" mode most of the time and it still has plenty of pep. This is the first vehicle I've ever owned that has come so close to the EPA mileage estimates.

mileage estimates have got a lot better in recent years (IIRC they changed how the mileage was calculated)