The Great Depreciation: Top 15 Used Car Deals
12-28-08, 10:29 AM
#1
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The Great Depreciation: Top 15 Used Car Deals
Pretty interesting list.
http://www.motivemag.com/pub/feature...ut_There.shtml
A tanking economy doesn't have to be all bad news and nooses. Just look at fuel prices, which have come crashing down from unprecedented heights down to levels some younger drivers have never seen at the pump. For the ever-dwindling segment of the population still afloat, a deep recession may be the best time to indulge in a few luxuries that were just out of reach in the past.
In some cases, lightly used luxury rides like Range Rovers, Porsche Caymans, or Cadillac CTS-Vs can be had for Honda Accord prices; dollar amounts that far outstrip normal depreciation. Just be prepared to feel the wrath of your fellow motorists — nowadays, a luxury car can be a rolling target for loose-nut road-ragers with Buy American bumper stickers on their pickups.
Below is our list of top deals. We ignored the obvious stuff like ten-cent Tauruses and went for a set that's more aspirational. Remember, our nation's cup may be mostly empty, but at the same time it's a little bit full.
In some cases, lightly used luxury rides like Range Rovers, Porsche Caymans, or Cadillac CTS-Vs can be had for Honda Accord prices; dollar amounts that far outstrip normal depreciation. Just be prepared to feel the wrath of your fellow motorists — nowadays, a luxury car can be a rolling target for loose-nut road-ragers with Buy American bumper stickers on their pickups.
Below is our list of top deals. We ignored the obvious stuff like ten-cent Tauruses and went for a set that's more aspirational. Remember, our nation's cup may be mostly empty, but at the same time it's a little bit full.
http://www.motivemag.com/pub/feature...ut_There.shtml
12-28-08, 10:49 AM
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many of those are very unreliable cars/require lots of costly maintenance
and the term lightly used is pretty vague... I looked into some Porsche 911 turbos and those seem to have 60k-70k miles for a 60ish k price for a 2003 model ... at 100k they become completely unreliable...
and the term lightly used is pretty vague... I looked into some Porsche 911 turbos and those seem to have 60k-70k miles for a 60ish k price for a 2003 model ... at 100k they become completely unreliable...
Last edited by asianrock; 12-28-08 at 10:53 AM.
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12-28-08, 01:53 PM
#8
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many of those are very unreliable cars/require lots of costly maintenance
and the term lightly used is pretty vague... I looked into some Porsche 911 turbos and those seem to have 60k-70k miles for a 60ish k price for a 2003 model ... at 100k they become completely unreliable...
and the term lightly used is pretty vague... I looked into some Porsche 911 turbos and those seem to have 60k-70k miles for a 60ish k price for a 2003 model ... at 100k they become completely unreliable...
Exactly. You don't have a free lunch, even in an automotive recession. Those vehicles depreciate for a reason.
What may be close to a free lunch, though, are some slightly used Hyundais and Kias. They are reasonably well-built, cheap to operate/service/insure, yet lose significant value in the first few years anyway. But the 10/100 factory drivetrain warranty does not transfer with them unless the subsequent owner is a close family member.
Last edited by mmarshall; 12-28-08 at 01:57 PM.
12-28-08, 02:19 PM
#9
Lexus Champion
They forgot the Mercedes CL and SL models.
A comparable 2003' CL55 sold for the same price as the 911 turbo and yet, no one nowadays is able to sell a used 2003' sample for more than $45-$50k in today's market.
While it's true that most of these cars are unreliable, many of us probably buy them for non daily usage anyway. Other than special occasions, my Merc. sits in the garage most of the time.
Even with reliable cars such as the SC430, the depreciation rate isn't much better either. It's not very hard to find a used 2003' SC430 that's depreciated more than 50% of its original price nowadays.
Jon
A comparable 2003' CL55 sold for the same price as the 911 turbo and yet, no one nowadays is able to sell a used 2003' sample for more than $45-$50k in today's market.
While it's true that most of these cars are unreliable, many of us probably buy them for non daily usage anyway. Other than special occasions, my Merc. sits in the garage most of the time.
Even with reliable cars such as the SC430, the depreciation rate isn't much better either. It's not very hard to find a used 2003' SC430 that's depreciated more than 50% of its original price nowadays.
Jon
Last edited by Baby ///M3; 12-28-08 at 02:24 PM.
Maybe even less with this crazy economy...
12-28-08, 10:12 PM
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Ya used porches are expensive...I thought about buying a relative's 2004 911 turbo... but after finding out they have been spending excess of 30k the past year on simply maintaining it and it breaking down frequently I changed my mind.
12-28-08, 10:13 PM
#15
Lexus Fanatic
my brother looked at an 06 SC430 ( I thought it was an 05) for 31K and it only had 18000 miles on it. I wonder if I can get a sweet deal on a used LS460