Time for our half-year asset review:
Compared to June 2010 the KBB value on the 2003 Honda-CRV rose from $11,200 to $11,555. The 2007 Mazda 3 value went up from $13,520 to $13,990 with a total value increase of $825. This hardly offsets what our house did to our net worth but that’s another story.
Oddly, both vehicles appreciated in value despite adding miles and age. I have two ideas why:
- Gas prices are higher than last year so vehicles which get decent mileage are in high demand.
- The value of the dollar has actually decreased.
I’m not an economist so I don’t know, but regardless, the last 12 months have been a good year to hold assets in vehicles and not dollars. Anyway, now for the fun stuff:
Note: My asset review fiscal year starts in May or June (I roll the year whenever I feel like reviewing and realizing the assets so some years can be shorter than others). The Year 2008 refers to June-2008 through May 2009, The Year 2009 refers to June 2009-May-2010 and so on.
2007 Mazda3 Costs
2007 Mazda3 cost of ownership (May 23, 2007 to June 15, 2011)
|Asset Review Year||2008||2009||2010||2011||Total||Mean|
|New car tax||1274||nil||nil||nil||1274||318|
|Jury Duty parking ticket||14||nil||nil||nil||14||3|
|Cost per mile||0.37||0.51||0.49||0.34||0.43||0.43|
I booked the difference in KBB value and selling price to service since the tires were getting close to being needed to be replaced so that’s why the service is very high. I probably should have booked that to depreciation, but I’m not regulated so I do accounting my way.
2003 Honda-CRV cost of ownership (June 8 2009 to June 20, 2011)
|Asset Review Year||2010||2011||Total||Mean|
Cost per mile