Brand New or Pre-Owned ?

[DonT]

After reading a lot of discussions here about getting a brand new and a second hand...I just figured out how about discussing or comparing the actual cost of ownership of a Brand New or Pre-Owned.

Brand New Vehicle
Initial Value - Php 1M
Maint/etc - Php 2,000 x 4times x 5 years = Php40K
Fuel - Php 4K/mo x 12 x 5 years = Php 240K
Value after 5 years - Php 500K
Cost of Ownership - 500K+240K+40K = Php780K

Pre-Owned (5yr old)
Initial Value - Php 500K
Maint/etc - Php 5,000 x 4times x 5 years = Php 100K
Fuel - Php 5.2K/mo x 12 x 5 years = Php 312K
Value after 5 yrs - Php 200K
Cost of Ownership - 300K+312K+100K = Php 712K

Based on my assumptions...it seems that I will only save around 68K (780-712K) in total by getting myself a Pre-owned one.

PS: of course we should not forget to also consider the 500K which I saved by buying a pre owned car. I could have placed it into an investment which can double in 5 yrs.

Please feel free to make comments. I may have made wrong assumptions or missed them.