Thoughts on a GT?

[oldguy57]

There seems to be a few GT models around with tiny mileages in the £80/90k area. Is it likely that values will drop significantly further in the next couple of years or do an SLS? I'm not in any hurry and it will probably be my last foray into this stuff but is now a good time to buy? Info on reliability and running costs from an owner would also be appreciated.

 

[Sjmw]

SLS was a limited edition. The GT is not so will continue to fall like an R8, 911 etc

 

[JattAmg]

Plenty of depreciation ahead imho.

 

[BIRMA]

Speaking as someone who completely missed the boat on the SLS I'm hoping for a black swan event to occur and I'll be able to buy one on the cheap, but somehow I doubt it.
Many years ago I made a killing gambling on FTSE 100 companies I bought an enormous amount of RR shares at 600 then sold them at 1200 after CGT I had enough money to buy an SLS as I had a cool £80K in my hand but at the time they didn't register.
I still lust after one just for what they are but I won't pay todays prices for one.
I had a blast round the Brooklands track in a GT driven by a proper racing driver and I can tell you it is outrageously fast and capable and a lot cheaper to maintain.
Check out the service costs of an SLS and the V12 is cheap to run in comparison.
Hopefully in about three -four years time a GT will be a bargain once they fall off the cliff edge of depreciation

 

[oldguy57]

Speaking as someone who completely missed the boat on the SLS I'm hoping for a black swan event to occur and I'll be able to buy one on the cheap, but somehow I doubt it.
Many years ago I made a killing gambling on FTSE 100 companies I bought an enormous amount of RR shares at 600 then sold them at 1200 after CGT I had enough money to buy an SLS as I had a cool £80K in my hand but at the time they didn't register.
I still lust after one just for what they are but I won't pay todays prices for one.
I had a blast round the Brooklands track in a GT driven by a proper racing driver and I can tell you it is outrageously fast and capable and a lot cheaper to maintain.
Check out the service costs of an SLS and the V12 is cheap to run in comparison.
Hopefully in about three -four years time a GT will be a bargain once they fall off the cliff edge of depreciation

Yep I stupidly missed the SLS boat too, and I've done it before on other stuff (notably a Plymouth Superbird at £15k - now £120k+ and so on) hence the query on the Gt. I think everyone is correct on the depreciation though- perhaps in another couple of years is the time to buy.

 

[BIRMA]

Yep I stupidly missed the SLS boat too, and I've done it before on other stuff (notably a Plymouth Superbird at £15k - now £120k+ and so on) hence the query on the Gt. I think everyone is correct on the depreciation though- perhaps in another couple of years is the time to buy.

I'm of the option having done this quite a few times in the past that there is a 'sweet spot' in the depreciation spiral with certain cars. I bought my Porsche and my SL at the four year old period both were low mileage, trouble free and just like new cars inside and out plus a full main dealer history.
My rule of thumb has always been to try to catch them at the right time where the mileage is low, a full main dealer service history and near new condition. If you wait too long the mileage goes up along with the price going down, plus I've found a quite a few with specialist servicing. I would add I have nothing against independents servicing cars but if you want to sell it after a year people do turn their nose up at non main dealer histories or at least that has been my experience to date.

 

[Red C220]

We're currently in one of the largest asset bubbles in history due to a near 0% interest rates. There are currently no bargains in the car world. In fact there are a lot of mediocre cars being sold for multiples of what they are worth.

This will correct at some point in the future, probably when interest rates start to increase and the currently overvalued stock markets correct.

If you're looking for a bargain I'd be inclined to sit tight, pay down as much debt as possible if you have any and be in good position to pick up a bargain when those that have gorged on cheap credit for a long time suddenly realise the party's over.

 

[oldguy57]

I'm of the option having done this quite a few times in the past that there is a 'sweet spot' in the depreciation spiral with certain cars. I bought my Porsche and my SL at the four year old period both were low mileage, trouble free and just like new cars inside and out plus a full main dealer history.
My rule of thumb has always been to try to catch them at the right time where the mileage is low, a full main dealer service history and near new condition. If you wait too long the mileage goes up along with the price going down, plus I've found a quite a few with specialist servicing. I would add I have nothing against independents servicing cars but if you want to sell it after a year people do turn their nose up at non main dealer histories or at least that has been my experience to date.

Yes that's exactly the same approach I like to take and indeed did take on the CL.

 

[oldguy57]

We're currently in one of the largest asset bubbles in history due to a near 0% interest rates. There are currently no bargains in the car world. In fact there are a lot of mediocre cars being sold for multiples of what they are worth.

This will correct at some point in the future, probably when interest rates start to increase and the currently overvalued stock markets correct.

If you're looking for a bargain I'd be inclined to sit tight, pay down as much debt as possible if you have any and be in good position to pick up a bargain when those that have gorged on cheap credit for a long time suddenly realise the party's over.

Agree - although I'm of the view that interest rates will remain very low for some time yet, the stock market being considerably more unpredictable. I have no debt so can jump in at any time and don't necessarily need a bargain. Equally am in no rush,having a plethora of big boy toys, but didn't want a repeat of the Superbird / SLS thing. The view seems to be that the Gt will continue to depreciate and perhaps 2 years down the line there may be £60/70k stuff around still with low mileage. Worth monitoring and jumping in if any signs of appreciation start appearing. Thanks for your advice.

 

[BIRMA]

SLS was a limited edition. The GT is not so will continue to fall like an R8, 911 etc

Spot on

 

[Red C220]

Agree - although I'm of the view that interest rates will remain very low for some time yet, the stock market being considerably more unpredictable. I have no debt so can jump in at any time and don't necessarily need a bargain. Equally am in no rush,having a plethora of big boy toys, but didn't want a repeat of the Superbird / SLS thing. The view seems to be that the Gt will continue to depreciate and perhaps 2 years down the line there may be £60/70k stuff around still with low mileage. Worth monitoring and jumping in if any signs of appreciation start appearing. Thanks for your advice.

I figure at least a year or two in reality, but sooner or later people will be queuing up to offload expensive cars they no longer want. That's the time to fill your boots with something you want.

I think we'll see a first interest rate rise late this year/early next. It's inevitable.

 

[rockits]

I'm not 100% sure now what a rate decrease actually achieved and what a rate increase would actually achieve. The lines are so muddied now it doesn't always make sense any more.

Too much cheap credit for sure. I would love it to bite/correct and for the biggest depression the world has even seen to hit. I'd be OK and I think finally lessons would be learnt.

 

[Bobby Dazzler]

I'm not 100% sure now what a rate decrease actually achieved and what a rate increase would actually achieve. The lines are so muddied now it doesn't always make sense any more.

Too much cheap credit for sure. I would love it to bite/correct and for the biggest depression the world has even seen to hit. I'd be OK and I think finally lessons would be learnt.

Sadly, the biggest depression the World has ever seen would result in many, many people not being "OK", so I hope that any correction is achieved without it.

 

[rockits]

Yes, unfortunately I know this would be the case. It would not be my preferred option but it seems some don't know the difference between an essential and a luxury. Also some don't seem to know much about a strong work ethic, morals, general ethics, hard graft, savings or many other things. I feel the only way they will learn is a very hard lesson. Case of natural selection & all. I really can't this happening in my lifetime if I'm honest but genuinely feel it would be better for all & for the greater good if it did happen.

I know we live in a modern world but some people have never had to understand so many things or appreciate a proper hard days work just because they got a little lucky with some property purchases/sales and the like.

I have a real issue with this want everything in 5 mins scenario & wanting it all now/quickly without having to work for it & at whatever cost. Nobody really needs Amazon same day deliveries & the same for Tesco one hour deliveries. At what cost? I would like to see some aspects of life slow down a bit. Go back to some old school family values & help/support each other a bit more. It wouldn't surprise me to find we have created many of our own modern issues created by modern living including lots of stress related ailments/ilnesses. Some things are simple & have been made complex for no good reason. The human race is an amazingly clever thing when we get it right but frustratingly can be so bl**dy stupid at other times.

Good people will always be OK in a depression. Others will struggle. A correction of many things is really due & needed. I find it bizarre that there really hasn't been as the fundamentals underlying many things are just not there. There is only so far 'confidence' can take things isn't there?

 

[JBD]

Just got buy a GT, make sure it's a GTS. The GT hasn't sold at all through retail


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[oldguy57]

Yes, unfortunately I know this would be the case. It would not be my preferred option but it seems some don't know the difference between an essential and a luxury. Also some don't seem to know much about a strong work ethic, morals, general ethics, hard graft, savings or many other things. I feel the only way they will learn is a very hard lesson. Case of natural selection & all. I really can't this happening in my lifetime if I'm honest but genuinely feel it would be better for all & for the greater good if it did happen.

I know we live in a modern world but some people have never had to understand so many things or appreciate a proper hard days work just because they got a little lucky with some property purchases/sales and the like.

I have a real issue with this want everything in 5 mins scenario & wanting it all now/quickly without having to work for it & at whatever cost. Nobody really needs Amazon same day deliveries & the same for Tesco one hour deliveries. At what cost? I would like to see some aspects of life slow down a bit. Go back to some old school family values & help/support each other a bit more. It wouldn't surprise me to find we have created many of our own modern issues created by modern living including lots of stress related ailments/ilnesses. Some things are simple & have been made complex for no good reason. The human race is an amazingly clever thing when we get it right but frustratingly can be so bl**dy stupid at other times.

Good people will always be OK in a depression. Others will struggle. A correction of many things is really due & needed. I find it bizarre that there really hasn't been as the fundamentals underlying many things are just not there. There is only so far 'confidence' can take things isn't there?

I understand what you are saying but a huge number of ordinary decent people, including, sadly, many young couples have been hoodwinked into believing they can have it all right now. I suspect trouble in about 10 years time.

 

[oldguy57]

Just got buy a GT, make sure it's a GTS. The GT hasn't sold at all through retail


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Yep (back on topic) it is sorely tempting. I was anticipating some responses along the lines of don't do it / they are a nightmare/ mine broke down after 30 seconds etc. Without obviously letting any cats out of any bags is your experience JDB that owners have ditched the model after 2 years or into long term ownership?

 

[JattAmg]

Yep (back on topic) it is sorely tempting. I was anticipating some responses along the lines of don't do it / they are a nightmare/ mine broke down after 30 seconds etc. Without obviously letting any cats out of any bags is your experience JDB that owners have ditched the model after 2 years or into long term ownership?

Plenty of nightmare/break down threads over on the Amg Pl.

 

[JBD]

Yep (back on topic) it is sorely tempting. I was anticipating some responses along the lines of don't do it / they are a nightmare/ mine broke down after 30 seconds etc. Without obviously letting any cats out of any bags is your experience JDB that owners have ditched the model after 2 years or into long term ownership?

We haven't had any major issues that I'm aware of. Customers have been giving positive feedback overall. I do have a white 65 plate GTS for sale, which was one of the early ones I sold


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[oldguy57]

Plenty of nightmare/break down threads over on the Amg Pl.

Not been on there for a while - I'll take a look. AMG have a bit of a strange attitude on that forum. People ask for help/information on a problem with their car and are abruptly told to take it to their local dealer. Not hugely helpful.