High Mileage R8, Terrible idea?
Discussion
Guys I currently have an M5 and a Range Rover L322 which is my daily, the M5 my weekend toy.
Been watching R8's recently and they seem to be coming down ever so slightly in price, I would love something more exotic.
This particular one looks nice but with high mileage, the guys have offered me a handsome sum for my M5 but would I be utterly bonkers to even consider this?
http://www.pistonheads.com/classifieds/used-cars/a...
How well will this thing hold its value?? Over the course of a few years
Been watching R8's recently and they seem to be coming down ever so slightly in price, I would love something more exotic.
This particular one looks nice but with high mileage, the guys have offered me a handsome sum for my M5 but would I be utterly bonkers to even consider this?
http://www.pistonheads.com/classifieds/used-cars/a...
How well will this thing hold its value?? Over the course of a few years
TomNbk said:
Hi John
I wouldn't buy a Lotus over one, my main concern is about it holding its value etc just need some experienced advice
Fair enough if you don't want a drivers car.I wouldn't buy a Lotus over one, my main concern is about it holding its value etc just need some experienced advice
No one knows future values.
If I were to guess, I would say that you should be able to sell it for over 30k in 2 years, assuming you do at least 5000miles. However, who knows, it just depends if someone only has 30k lying around to take a punt, in which case, they might as well pay a bit more for peace of mind.
The reason i've not sold mine is that it has been pretty much free motoring the past couple of years. I have no doubt i'd be offered the same if not more today as i was 2 years ago. I almost sold it to someone on here for under 40k. Going by the classifieds it is worth more today so it looks like prices have firmed up.
In regards to high mileage, i've not really heard any horror stories and apart from routine servicing and consumables mine has been 100% reliable.
In regards to high mileage, i've not really heard any horror stories and apart from routine servicing and consumables mine has been 100% reliable.
The one you have linked in particular i would probably avoid if you are worried about resale - there's a reason they are selling it at 99k.
Once it ticks over 100k the amount of buyers will reduce significantly for no more reason as the psychological barrier people have for cars over 100k miles. The majority of people will see this as too high for a 30k+ performance car imo.
Once it ticks over 100k the amount of buyers will reduce significantly for no more reason as the psychological barrier people have for cars over 100k miles. The majority of people will see this as too high for a 30k+ performance car imo.
I am running an M5 this car generated a 6k bill just before I bought it ALL these cars have the option to destroy you if it's any solace this car would never be used as a daily and it's use kept low and I guess this car has a new gearbox and clutch so two less things to go wrong? Engines seem pretty solid on these
mwstewart said:
I would be surprised if these drop below 30k, and there will always be someone out there looking at the entry price point for this type of car.
There was a thread a few years back i'm sure titled 'The 30k R8' or similar. It was on that thread i'd considered selling mine for about 38/39k. I'd now be looking for 40k plus so i'd say you're right unless you start getting into Cat C/D or mega high milers. TomNbk said:
So overall thoughts Steve??
As I’d mentioned previously, I’d be slightly reluctant to buy one with such high miles but only from the point of view of resale. I’m not sure how long you are planning to keep it but say you put another 30k miles on it and it then becomes an R8 with 130k miles – how would this sound if you were a buyer given you already have concerns over mileage at 99k?
That being said, the mileage is reflected in the price, you’ll have an amazing car for the price of a new diesel BMW.
The car in question is almost identical in spec to mine, has a full Audi history and the gearbox, clutch and flywheel which can only be a good thing going forward.
My only concerns would be – who paid the £12k to get it fixed? Was is the owner/warranty? Or was it insurance? The fact that it also had the engine sump replaced and the fact it’s being sold pretty much straight after all this work has been done does give me some concerns over what actually happened to cause this issue.
Hmm.. decisions..
Depends how long you want to keep it. It won't appreciate, that's for sure.
The new gearbox is reassuring (when was it done).
If you are already worried about resale value then I would suggest this car is not for you.
I would save a bit more because for the sake of 6K-7K say, you will have a vehicle with a lot less miles that will be more appealing for a future buyer.
(I do this for a living so feel in good stead to advise
)
Depends how long you want to keep it. It won't appreciate, that's for sure.
The new gearbox is reassuring (when was it done).
If you are already worried about resale value then I would suggest this car is not for you.
I would save a bit more because for the sake of 6K-7K say, you will have a vehicle with a lot less miles that will be more appealing for a future buyer.
(I do this for a living so feel in good stead to advise
)
TomNbk said:
Resale value is not a massive concern I appreciate I will lose money on it just wanted to gauge an idea this is a new arena for me after only having a Maserati 4200 which is the closest thing to a super car in the past!
In that case, go for it! I'd still want to clarify why it got a new sump however. Did the driveshaft fail or did something hit it and if it took out the sump when it failed was the engine ran with no oil?
You may struggle to get an answer on this but it is something to think about.
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