June 26, 2016 at 4:20 am

The oldest car I had was a local made car, 10 years old.

The 2nd car I had been using was 8 years old before I had changed to the current car which is now 2 years old.

I do not change my car that often because the depreciation value of a car is so great that it cost loss of thousands.

For example, each month I would be losing a few hundreds of dollars instead of maintaining the value.

If the current car I owned cost $70,000, 6 years later, it will depreciate until the cost of value at $35,000

In other words, during these 6 years, I will be losing 35,000 excluding the insurance, maintenance fees, roadtax, license, spare parts and change of tyres.

Hence, foreign imported cars depreciation value is even greater than local cars.

My sister in law’s car which is Toyota, had depreciated to $40,000

When she first bought her Toyota , it was $140,000, that was 6 years ago.

Lost $100,000!!!

June 26, 2016 at 5:48 am

I never had a car since the tragic accident happened during my college days. All I know, in every tangible possession, the depreciation formula is to divide the total cost of the car to 5 years period. It will be calculated the percentage of depreciation in a yearly basis.

June 26, 2016 at 8:19 am

http://172.104.9.193/members/shavkat/

yup you are right.

What happened during your college accident?