Hi Bro, to me, depreciation at $11.5K per year is not low. But I suppose got no choice at times. We also have to see what is the price of the new car and the depreciation of the new car. If the new car depreciate is low due to the lower cost of the new car, then going forward, it is still worth it. Just like my previous car, if I drive for 10 years, per year depreciation should be 5K. But I sell it off earlier and the depreciation was about 8K per year. However, I like the new car and the price has dropped to a more affordable level. So, I went ahead.
Sure, what you have mentioned is absolutely correct. Depreciation at $11.5K/year is definitely very high. If I drive the car over 10 years period, it depreciates at only $6.4K/year, it is cheaper than say a civic at almost $8K/year.
Depreciation is always very high if you change your ride before the 10 years period. Cos if you change at 5th year, you may not get back any body value, straight go to the scrape yard. Maybe a continental car still have some value.
I guess that I have the same thinking as you, car price drop, COE drop to more affordable price, so just go ahead. Anyway in Singapore, buying car is just like renting a car..... It will never belong to you.