Originally posted by Christian
Oh ok....still I think your philosophy of drive em till 400 k is good....still it takes FOREVER to get there and in the meantime if ur like me, you would like to be updating to the latest model..
Look at it this way:
1998 C230 new, Canada, $43,000. Worth 4 years later, $28,000.
Depreciation charge: $15,000. Average mileage 100,000.
Cost per km: $0.15.
Projected price of 15 year old C230 with 375,000 kilometers: $7000. Depreciation: $36,000 (here a 15 year old high-mile 190E sells for about $7000. I sold my very-high mile 190E 2.3 for $9500. This analysis of course has no accounting for inflation along the way.)
Cost per km: $0.09.
Factor in interest opportunity costs on new cars, (even people who pay cash give up interest income) huge initial depreciation charges, and even with the high repair/service costs associated with a 10+ year old car, and it's much cheaper to keep driving.
I have no need to drive the "latest" model, and the only reason I bought my C230 brand new was a desire to own an MB right from the showroom floor. I wanted at least one that would get the care I lavish on cars right from kilometer one.