this post was submitted on 23 Nov 2024
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Interesting. I've been buying mine at 3 years and keeping them until they become uneconomic to repair. My current car is 11 and it's still in great shape.
What is the logic behind selling at 7? Are you considering increasing efficiency of new models and average maintenance burden?
the logic is depreciation. if you sold your car at 7 it is worth a lot more than at 11. imagine buying a 1 year old cellphone and selling it at 2 years old. compare that to buying a brand new cellphone and keeping it 6 years. the depreciation is related to the markets expectations of the items functionality vs it needing expensive repairs. a 3-7 year old car generally is reliable and considered functional. obviously different brands and models differ on these curves. a 7 year old honda is very different from a maserati.