Allow Quicken for Mac to track vehicles as an asset
Bishop2 Member ✭✭
I do this very thing, but it's manual and in parts:
- Value – add the car as an asset (Property) with the Year and Make in the account name. In the Description field, I put the VIN. I go onto KBB from time to time, insert the mileage and then use an expense category called Depreciation to update the value.
- Registration and property tax reminders are done easily using the Bills & Income reminders.
- Maintenance due is a little trickier. What I do is put the mileage in the memo field of the depreciation transaction whenever I update the value. When the mileage gets close to one of the intervals (7,500, 15,000, or whatever) then I know it's time for servicing.
This would be a handy feature. I track my vehicles as assets currently, and just reduce their value every year incrementally based on what they go for.0
Denny Crane Member ✭✭This is a great idea, IMO.
I want Quicken to track the VALUE of my car as well as expenses towards it.
The value can be obtained by looking up the vehicle on Edmunds.com or on kbb.com.
The more that Quicken saves me from having to go to kbb.com myself to lookup the value and then enter it into quicken as/like a transaction (UGLY!), the better.
As for transactions, a category of auto:car1 vs auto:car2 (for 2 car family) would assign expense toward each car (add a transaction to its ledger). It can associate car payments as well. It would be trivial to get a report of how much each car truly cost (with license, taxes, car payments, gasoline, repairs) all included.
May as well consider the case when the car gets sold, too.0