Slightly off topic, there's a five year old BMW 1 series for sale at a local auctioneers , not car related, it's got 112 miles on the clock. Old lady bought it , drove it twice and parked it up in the garage for 5 years. Guide price £10-£15 k .
Anyone bothered/obsessed about depreciation.
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The only thing with that is unless the car increases in price a lot (say E30 M3 or Ferrari 360), if you said a grand a year to insure and service it etc. then after 20 years, you have to take that cost away.
Not saying it won't make money but it's a bit of a gamble and I wonder what the new dawn of spark-powered motors will do to ICE cars, regardless of model.
Yes, all good points. There are easier things to make money on than cars! And money in 20 years is not worth much today, “jam today” and all that. The ideal scenario must be to own and really enjoy a car and then it still ends up worth more than paid for it. Almost impossible to predict...
Nito
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Of course you’re all absolutely correct in what you say.
I could keep it, I don’t owe anything on it now, depreciation has largely taken its course and is starting to level off, but it’s simply not getting used and not bringing me any level of real joy.
As has been said, costs per mile are exorbitant. It’s a second car (Hilux daily driver) if I were using it daily and it had 30k mikes on it, it would have earned its keep. But as it stands I’d probably get more satisfaction moving it on and spending the money elsewhere, (and probably also regret selling it soon after as I’d be unlikely to replace it for anything similarly awesome any time soon!!)
If I lived somewhere that I could enjoy it I’d feel differently because the car is great, but before every journey I have to weigh up if its worth getting it dirty because I’d hate to put it back in the garage filthy because it could sit there for a while before its next use and I’m too time poor to waste it on cleaning it every 5 mins. As a result it doesn’t really come out in poor weather and in the nice weather it is competing with bikes so it doesn’t really get much of a look in. I also won’t leave it just anywhere for fear of picking up parking dints etc and it’s always a liability running through the sometimes narrow country lanes where I live.
I get my kicks out of motorbikes nowadays, they are easy to store, clean and keep in tip top condition and the modern classics that I like hold their value incredibly well, in fact I don’t think I’ll lose a penny if I had to sell any of them, (with some of them actually appreciating), other than running/annual costs for which I get plenty of smiles per gallon in return and lots of use.
I could keep it, I don’t owe anything on it now, depreciation has largely taken its course and is starting to level off, but it’s simply not getting used and not bringing me any level of real joy.
As has been said, costs per mile are exorbitant. It’s a second car (Hilux daily driver) if I were using it daily and it had 30k mikes on it, it would have earned its keep. But as it stands I’d probably get more satisfaction moving it on and spending the money elsewhere, (and probably also regret selling it soon after as I’d be unlikely to replace it for anything similarly awesome any time soon!!)
If I lived somewhere that I could enjoy it I’d feel differently because the car is great, but before every journey I have to weigh up if its worth getting it dirty because I’d hate to put it back in the garage filthy because it could sit there for a while before its next use and I’m too time poor to waste it on cleaning it every 5 mins. As a result it doesn’t really come out in poor weather and in the nice weather it is competing with bikes so it doesn’t really get much of a look in. I also won’t leave it just anywhere for fear of picking up parking dints etc and it’s always a liability running through the sometimes narrow country lanes where I live.
I get my kicks out of motorbikes nowadays, they are easy to store, clean and keep in tip top condition and the modern classics that I like hold their value incredibly well, in fact I don’t think I’ll lose a penny if I had to sell any of them, (with some of them actually appreciating), other than running/annual costs for which I get plenty of smiles per gallon in return and lots of use.
fabes
MB Enthusiast
Someone I work with sold his RS6 and bought a V6 Supercharged F type convertible
It's very nice.
Upgraded bits, ceramic coated, he even had his garage extended to fit it in properly (RS didnt go in the garage)
Friday, he drove the 30 miles from home across the New Forest to our office to pick a few things up and do a bit of work there.
He drove his (bought new, 6 month old) Citroen C1........ffs!
Oh the cover was on the F Type in the garage blah blah blah
If ever there as a day to drive that convertible though the Forest at 7.30 in the morning, it was then!!!
He's put about 1,500 miles on it in 2 years and sees it as 'an investment'
He's a clever bloke, financially comfortable, pretty clued up etc, but he never ever uses the damn thing
Such a waste, and a shock of depreciation coming when given the new model, new alternatives etc......
It's very nice.
Upgraded bits, ceramic coated, he even had his garage extended to fit it in properly (RS didnt go in the garage)
Friday, he drove the 30 miles from home across the New Forest to our office to pick a few things up and do a bit of work there.
He drove his (bought new, 6 month old) Citroen C1........ffs!
Oh the cover was on the F Type in the garage blah blah blah
If ever there as a day to drive that convertible though the Forest at 7.30 in the morning, it was then!!!
He's put about 1,500 miles on it in 2 years and sees it as 'an investment'
He's a clever bloke, financially comfortable, pretty clued up etc, but he never ever uses the damn thing
Such a waste, and a shock of depreciation coming when given the new model, new alternatives etc......
Darrell
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One of my homies has an Integrale Evo2.
It’s worth 3 or 4 times what he bought it for BUT it’s cost him a fair few quid to look after it. Last year it had a full respray which ended up a 5 figure job.
It’s worth 3 or 4 times what he bought it for BUT it’s cost him a fair few quid to look after it. Last year it had a full respray which ended up a 5 figure job.
SarahAnn200
Active Member
I buy pre reg to save a bit off the new price at the beginning and I don't like waiting if I were to order one. I don't mind the garage name on the v5 and its a good saving. I've saved £10k on a c250 with 25 miles on it and £11k on a jaguar xe with 11 miles on. Saved a fair bit on my present c43 at a few months old. Cost new was £55k and I paid £38k. It was the shape I wanted, an estate and they wanted it moving from stock. Got 4 new all weather tyres and a service with it too as I didn't like skipping on summer tyres.
I don't drink, smoke or have kids so cars are my treat to myself. The only car I ever made money on was a 1967 Spitfire. I try to make a saving at the beginning then just enjoy them
I don't drink, smoke or have kids so cars are my treat to myself. The only car I ever made money on was a 1967 Spitfire. I try to make a saving at the beginning then just enjoy them
I think the trouble with cars that are bought as investments once the values start climbing you don’t always get to enjoy them as much as you might think. Sure you get the bragging rights with the high end stuff, and can enjoy detailing/looking at them in your garage but do you get to experience them as you might have liked?
Not wanting to add the miles, take them out in the rain, worry about where you park them etc. Not considering the cost of ownership (maintenance/repairs/restoration etc)
It’s a bit like all the old Fords, air cooled 911s etc, one minute they’re enthusiasts cars to drive/tinker/enjoy, next minute they’re climbing in value so much that you either feel guilty using them or cash out and miss out on the enjoyment of ownership. And many people get priced out of the market as a result too. If you spend thousands on bodywork and other restoration stuff like that are you going to want to drive them as you would have before?
I have owned six 190E 2.3/2.5-16 ‘Cosworths’ over the years since the early-mid 00s. I sold one earlier this year and still have one left. I used to have great fun driving them, but also maintaining/restoring them etc, did quite a lot of work to them myself etc. Nice owners club too, and the cars used to attract interest from other car people in a good way, always a talking point etc
Now a decade and a half later, the values have gone crazy, even compared to just five or ten years back. One of the nice ones that I sold for circa £7k (11 years ago) would probably be worth about four times that amount now. I don’t really regret selling it (and have owned numerous other nice cars since) but I do miss it. If I still owned it today, I’m not sure what I’d be doing with it - back then I even became a bit precious over it, and I doubt that many get used as they were intended anymore - they were built to be driven hard!
About ten or so years back, I was in a position to buy an older aircooled (964) 911, had the money ready, looked at a few but couldn’t quite get the sort of car I wanted for my (entry level) budget. Bought something else instead. I look at the values of those today - and I’m not sure I’d buy one for what they are now worth even if I had the cash spare (and I’m not saying they’re not worth that much, just to me I’d spend the money elsewhere). Hardly see any being driven and I doubt many have been scrapped since - they’re all tucked away instead
I guess in hindsight, I should have just bought one and not worried about the condition as much. Whatever I would have spent in repairs/restoration would have easily been covered by the uplift in values, likewise if I’d had a bigger budget I wouldn’t have regretted spending more on a really nice one either.
I think that’s where it’s nice that there’s still some cars out there that are appealing, but not worth so much or that you’re put off using them. My 911 is a late 996 with rare options/spec, fairly lowish miles etc but wasn’t a fortune to buy, in fact cost less than some of the 964s I was looking at in far worse condition over ten years back. It hasn’t really lost anything since I bought it, if anything maybe steady in value or a slight increase but I’m not expecting any huge increase in value either in the near future, I didn’t buy it for that. I’m not afraid to drive it (although I find it hard to get the time to use it for other reasons now!) which is a pity.
Having said all that, the car I sold earlier this year fetched eleven times what I paid for it, I guess it offsets some of the depreciation on my GL
Not wanting to add the miles, take them out in the rain, worry about where you park them etc. Not considering the cost of ownership (maintenance/repairs/restoration etc)
It’s a bit like all the old Fords, air cooled 911s etc, one minute they’re enthusiasts cars to drive/tinker/enjoy, next minute they’re climbing in value so much that you either feel guilty using them or cash out and miss out on the enjoyment of ownership. And many people get priced out of the market as a result too. If you spend thousands on bodywork and other restoration stuff like that are you going to want to drive them as you would have before?
I have owned six 190E 2.3/2.5-16 ‘Cosworths’ over the years since the early-mid 00s. I sold one earlier this year and still have one left. I used to have great fun driving them, but also maintaining/restoring them etc, did quite a lot of work to them myself etc. Nice owners club too, and the cars used to attract interest from other car people in a good way, always a talking point etc
Now a decade and a half later, the values have gone crazy, even compared to just five or ten years back. One of the nice ones that I sold for circa £7k (11 years ago) would probably be worth about four times that amount now. I don’t really regret selling it (and have owned numerous other nice cars since) but I do miss it. If I still owned it today, I’m not sure what I’d be doing with it - back then I even became a bit precious over it, and I doubt that many get used as they were intended anymore - they were built to be driven hard!
About ten or so years back, I was in a position to buy an older aircooled (964) 911, had the money ready, looked at a few but couldn’t quite get the sort of car I wanted for my (entry level) budget. Bought something else instead. I look at the values of those today - and I’m not sure I’d buy one for what they are now worth even if I had the cash spare (and I’m not saying they’re not worth that much, just to me I’d spend the money elsewhere). Hardly see any being driven and I doubt many have been scrapped since - they’re all tucked away instead
I guess in hindsight, I should have just bought one and not worried about the condition as much. Whatever I would have spent in repairs/restoration would have easily been covered by the uplift in values, likewise if I’d had a bigger budget I wouldn’t have regretted spending more on a really nice one either.
I think that’s where it’s nice that there’s still some cars out there that are appealing, but not worth so much or that you’re put off using them. My 911 is a late 996 with rare options/spec, fairly lowish miles etc but wasn’t a fortune to buy, in fact cost less than some of the 964s I was looking at in far worse condition over ten years back. It hasn’t really lost anything since I bought it, if anything maybe steady in value or a slight increase but I’m not expecting any huge increase in value either in the near future, I didn’t buy it for that. I’m not afraid to drive it (although I find it hard to get the time to use it for other reasons now!) which is a pity.
Having said all that, the car I sold earlier this year fetched eleven times what I paid for it, I guess it offsets some of the depreciation on my GL
D
Deleted member 126251
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Wise words. I'm really tempted to pick up a SLK 55 and hang onto it as an investment but............................what you said + I'd have to store it at a specialist.
A friend has a 360. He bought it assuming it would appreciate because it is a Ferrari and was surprised when he looked at selling it after a couple of years. He was well out of pocket after tyres and servicing. he decided to keep it a little longer, in the hope .....
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Nope, never bothered me. If I can't afford it or it's going to keep me awake at night, I don't buy it.
I also don't understand people that say they can't enjoy a [often fast] car "properly" and/or it's not getting used and therefore needs to be sold. You guys are bored too easily/quickly!
Give me a steering wheel that is attached to a set of wheels and I'll enjoy going in that. Anywhere, in any weather, day or night. Lorry, van, Smart car or a 65 AMG. Track, raceway, runway or a dusty road. When it comes to cars, I'm as simple minded as they come.
But don't show me your "pride and joy" slammed to the ground aka "static", "stanced" and all that Veedub / cool dudes wannabe BS. I'll sooner walk than drive that!
So yeah. Don't have time for depreciation and slammed cars.
I also don't understand people that say they can't enjoy a [often fast] car "properly" and/or it's not getting used and therefore needs to be sold. You guys are bored too easily/quickly!
Give me a steering wheel that is attached to a set of wheels and I'll enjoy going in that. Anywhere, in any weather, day or night. Lorry, van, Smart car or a 65 AMG. Track, raceway, runway or a dusty road. When it comes to cars, I'm as simple minded as they come.
But don't show me your "pride and joy" slammed to the ground aka "static", "stanced" and all that Veedub / cool dudes wannabe BS. I'll sooner walk than drive that!
So yeah. Don't have time for depreciation and slammed cars.
MikeInWimbledon
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Enjoy your motor, do the numbers and know exactly how much it's costing.
Leave heavy depreciation to the wealthy - they don't even notice it. ("The average new Bentley buyer possesses EIGHT cars.")
Investment ? Nah: invest in equities and see an 8% return on average. You won't see that on cars, or houses, net of costs.
But we've all got to waste our money on something - if it passes to the kids it'll only mess them up. There's limited benefit, and a lot of downside, to inheritance.
.
Leave heavy depreciation to the wealthy - they don't even notice it. ("The average new Bentley buyer possesses EIGHT cars.")
Investment ? Nah: invest in equities and see an 8% return on average. You won't see that on cars, or houses, net of costs.
But we've all got to waste our money on something - if it passes to the kids it'll only mess them up. There's limited benefit, and a lot of downside, to inheritance.
.
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Gbrowncls55
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I love depreciation . Please keep buying those lovely new high powered cars, look after them well and I will by them (as I always have since retiring and giving up the company cars) when they are four or five years old. Whats not to like!
Doodle
MB Enthusiast
Not bothered as such, but for the first time in over 20 years of car ownership it's become a consideration and it feels weird. I've had multiple cars for as long as I can remember, but as I'm now working from home predominantly that becomes hard to justify; once the Cupra lease expires I won't be replacing it.
What I don't want is something sat on the drive below, haemorrhaging depreciation. The SL is definitely ahead in that respect but despite 17 years of ownership I'm not yet convinced it's a truly viable prospect as my only car - in all honestly I'm a little too tall and broad to fit in it 100%.
What I don't want is something sat on the drive below, haemorrhaging depreciation. The SL is definitely ahead in that respect but despite 17 years of ownership I'm not yet convinced it's a truly viable prospect as my only car - in all honestly I'm a little too tall and broad to fit in it 100%.
BIG UN
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Dooesnt bother me in the slightest, i could have bought a nice car/van 10 times over what ive spent on my van!! But nothing could have given me the knowledge ive gained from messing with it & ive got something now that is exactly how i want it & will probably keep it for a while..
Teego
MB Enthusiast
Match depreciation with compound interest (Einstein's 8th wonder of the world) and you are in financial heaven.
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