Quote Originally Posted by slamtaz View Post
*sir oldblue: though it may seem to disregard the notion of depreciation, i guess you are right in a certain way because, as you mentioned, buy a car for keeps but still, there will be a point in time that you will need to determine its value and that's when the methodology of depreciation comes into play..

just my :twocents: po, i know there is a better way to put it out there

hehehe. well you're right to put it that way. that's how it's done.

pero picture this for a moment, I have this fil-chinese classmate who is filthy rich but laging luge hehehe. in 1997, he bought a Pentium I computer for his office for the purpose of computerized accounting. i was surprised when I visited his new office last year. the computer is still there, doing the same purpose.

what even surprised me more was his 93 maroon corolla gli, it's still alive and looking good. sabi niya sa kin after so many years of using it, he finally gave the car to his right hand man as reward for his years of loyal service.

in 97, when he was just starting, he only rented a two-story shop in aurora blvd. now he uses 3 prime house and lots in San Juan as warehouses, has got 3 or more trucks (yun lang nakita ko), and supplies some novelty products to popular food chains and top 500 fortune companies here. and guess who's in the top management, my classmate and his right hand man. The right hand man's very happy with his car.

If I'd known any better, the computer and the 93 corolla gli even appreciated in value