My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 2020 with at least $3 million.


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Update of Car Value - 4/8/2004

Contributed by mm | April 8, 2004 6:36 AM PST

I cannot believe I drove 1,900 miles in the last 30 days! As my Camry tops the 40,000 mile mark, here is the corresponding value reported by Edmunds:

Trade-In Value: $10,751 (Last Month = $10,901, Change = $150)
Private Party: $12,309 (Last Month = $12,449, Change = $140)
Dealer Retail: $14,018 (Last Month = $14,139, Change = $121)

The $150 drop in trade-in value is very much in line with my monthly accrual of $150 depreciation. According to my historical breakdown shown below, I still keep a healthy margin between what is reported in my net worth calculation and what is the true car value:

Month Trade-In Value Monthly Change Change vs Oct 2003 Avg Monthly Change Odometer Reading Monthly Usage Change vs Oct 2003 Value Loss Per Mile Book Value Trade-In as % of Book
Oct-03  $    11,711              32,200        $    10,050 117%
Nov-03  $    11,628  $         (83)  $         (83)  $         (83)        33,400          1,200          1,200  $       (0.07)  $      9,875 118%
Dec-03  $    11,752  $         124  $          41  $          21        34,100            700          1,900  $        0.01  $      9,700 121%
Jan-04  $    11,353  $        (399)  $        (358)  $        (119)        35,400          1,300          3,200  $       (0.04)  $      9,550 119%
Feb-04  $    11,044  $        (309)  $        (667)  $        (167)        36,800          1,400          4,600  $       (0.04)  $      9,400 117%
Mar-04  $    10,901  $        (143)  $        (810)  $        (162)        38,100          1,300          5,900  $       (0.03)  $      9,250 118%
Apr-04  $    10,751  $        (150)  $        (960)  $        (160)        40,000          1,900          7,800  $       (0.02)  $      9,100 118%

Moving forward, I will produce this car value update quarterly. I can see the depreciation of my value is steady and predictable, so I believe it is no longer necessary to track and discuss it monthly.

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