In 6 years the truck will worth the same whether you paid $40K or $47K. I suspect when you see depreciation numbers tossed around, they use the MSRP as the basis since actual sales price can vary a lot. To get an idea of what it will be worth in 6 yrs, check 6, 5, 4, 3, 2, and 1 yr old equivalent trucks on NADA, Edmunds, or other similar sites. That will give you an idea of how the value will drop off over the years. The new prices of those trucks was less, but not a whole lot.
Also check the invoice price of that truck while you are on one of those sites. I don't know how close to invoice you are, but you should be able to get within a couple hundred dollars and then subtract any rebates/incentives off that. I bought my '07 F350 Lariat 4x4 loaded last year for under $40K with sticker of over $51K.
bankcardrep1 wrote: What could this truck be worth in 6 years with 120,000 miles?
It is worth what someone is willing to pay for it. Maybe a dealer will tell you it is worth $5000 on trade, yet there is a buyer out there that is willing to pay $10000 for it. So what is it worth, $5000 or $10000?
Rich,and Tobi (the rescued dog)
Prowler 5ver, 84 Ford F250 KCOCOLOR78 Weather
Colo. Spgs. CO
bankcardrep1 wrote: Thinking about buying new GM Duramax, Long Bed, 4X4, Crew, Leather,,etc.
No problem keeping this truck for the duration.
MSRP 46,900.00
I can buy it for $40,776.00 out the door.
Is depreciation figured on what I pay, or MSRP.
What could this truck be worth in 6 years with 120,000 miles?
We have an 01 Duramax on the lot (nice rig, white, crew cab/shortbed, 4x4, LT, leather interior) with 135k on it that's selling for $23,900. I have no idea what it sold for as a new truck back in 00 or 01.
Yes, you pay more, but diesels bring much larger bucks at trade-in or resale time than gassers. The truck I mentioned above would probably be $17,500 if it were a 6.0L gas engine with the same miles & options...
BManning
2002 F250SD,7.3L,4R100,4x4,crew cab/short bed,toreador red, Lariat, FX4,4" turbo-back exhaust,Edge Evolution,AutoMeters on the pillar,Michelin LTX M/S E-rated,3.73LS rear,camper pkg.,Garmin GPS,XM radio,CrimeStopper remote start/turbo timer/alarm
My 05 nadas for 22,800 clean trade in, and 26,400 clean retail, I paid 27K out the door in 05, with my trade 22K . I have no bells and whistles, you loose you butt on the options obliviously.
bmanning wrote: Yes, you pay more, but diesels bring much larger bucks at trade-in or resale time than gassers.
Well of course they do since the diesel is a $4K to $6K MSRP option to begin with. Are you saying that even discounting that option the diesels return even more value (because of demand)?
It could be worth millions of dollars. If Fidel and the Commies hit us with an EMP bomb and your truck is one of the 10 that some how have thier computers survive.
Just kidding
Who knows man, anything can happen in six years.
Late model wife
2002 Daughter
2005 Daughter
2007 Ram 3500srw 5.9L Cummins Laramie. QC Short bed.
2008 Crossroads Zinger 30RB 5th wheel.
18k Reese signature series slide hitch
If you are talking IRS depreciation, then it is based on what you pay, NOT the MSRP! Then you take a certain $ amount, based on a % of total cost per yr with in the given time frame you are working with. Most of the time, max is 5 yrs.
You can also do an initial yr bonus deduction of about 18K or so. Then the remainder is costed out over the next 5 yrs.
Talk to your CPA, NOT the folks here on rvnet as to the who what where and how etc for actual tax purpose depreciation. If CPA does things correctly, in 5 yrs, my trucks have book value of nothing! which is what you want them to be.
Marty
05 Chev CC D/A LS Dooley
92 Navistar dump truck, 7.3L 7 sp, 4.33 gears with a Detroit no spin
00 Chev C2500, V5700, 4L80E, 4.10, base truck, no options!
92 Red-e-haul 12K equipment trailer
3 Single axle utility trailers
Offline
