Auto Depreciation

[Michael.M]

When adding a Auto to mint, have an optional feature that would take the year, make, model and features and retrieve the Kelly Blue Book value. This combined with a depreciation curve would allow mint users to see the point at which they should trade in their vehicle to conserve value (If holding a vehicle for 3 years causes a 40% loss in price, vs holding it for 4-5 years that would decrease value by an additional 30%). Using this data, mint could offer low auto loan rates from partners combined with targeted vehicles to that consumer. Mint users would enter in their milage on a quarterly or monthly basis. Trending based on this data could further help with proper Depreciation in the future. Other factors may include tax credits (for the purchase of a new vehicle), savings from MPG increase, dependability measurments (If research shows that X car has increased problems after 3 years and 36,000 miles, then display possible costs for repairs or note that problems have been found.) and trade in value reduction (Driving the automobile more than 3 years from company X decreases resale, because company X releases new models every 3 years.)

Furthermore, being able to assign purchase to automobiles to see their true costs (Oil, Gas, etc) per a year may be useful information.

[juniorquizzing@juno.com]

....But the least expenisive way to operate a car is to buy a 2 year old or older car and pay cash. Not car loans.

If Mint did envelope budgeting you could very easy pay your self a car payment and pay cash for your replacement car.

[Michael.M]

Im more concerned with the 3 year, 36,000 mile warranty on most cars. Plus with used cars, you never know what the owner did with them. They could have driven them 2 years, no oil changes, at which point, the car would last alot less. Plus the vehicles I would be purchasing retain the majority of their value, so purchasing used provides little benefit.