Are there any depreciation proof cars for less than £5k?
Discussion
Or at least cars that are unlikely to drop in price any more?
I'm an alfa nut so was looking at the GTV 3.0 cup, but can't find one. Then I've looked at the BMW M3 3.2EVO, but unsure about what bills they will throw up. I'm after something a bit rare with a bit of soul thrown in, this is after driving a new soulless Fiat Punto around for the last couple of years whilst I built up my business.
I've not owned any really decent metal before, but my favourites have been my old Alfa V6 and my MK2 Golf GTI 16v. I'd also love a big old 2 door Merc coupe as well but again I can't seem to find anything decent. So really something old that has almost dropped to the bottom price wise and is not mega expensive to run.
Any ideas??
I'm an alfa nut so was looking at the GTV 3.0 cup, but can't find one. Then I've looked at the BMW M3 3.2EVO, but unsure about what bills they will throw up. I'm after something a bit rare with a bit of soul thrown in, this is after driving a new soulless Fiat Punto around for the last couple of years whilst I built up my business.
I've not owned any really decent metal before, but my favourites have been my old Alfa V6 and my MK2 Golf GTI 16v. I'd also love a big old 2 door Merc coupe as well but again I can't seem to find anything decent. So really something old that has almost dropped to the bottom price wise and is not mega expensive to run.
Any ideas??
As I always point out in response to these threads, what you buy is less important that what you pay for it. Any car can be depreciation proof if you buy it at the right price and for every E30 M3, there's a 968 Club Sport, so getting hung up on a specific model and pinning your hopes on rising prices won't necessarily end well.
By buying at the right price, I don't mean buying a scruffy example for a rock bottom price, I mean a good, well-maintained car at a bargain price that the owner needs rid of quickly. There's always someone who's left the sale of their car until the last minute when they're moving house/emigrating/changing jobs/having a baby/etc.
You need to keep a sharp eye on the classifieds and be first on the phone to arrange a viewing. A willingness to travel anywhere at the drop of a hat helps too. With any luck, a year or two down the line you'll be able to sell it on for what you paid (sometimes even a little more).
As for what to buy, to stand the best chance of recouping your money, I'd recommend something that fellow owners wave at. Seriously - anything made in limited numbers that's now out of production and has cult status amongst car enthusiasts won't be too hard to sell on to a buyer eager to find out what all the fuss is about.
By buying at the right price, I don't mean buying a scruffy example for a rock bottom price, I mean a good, well-maintained car at a bargain price that the owner needs rid of quickly. There's always someone who's left the sale of their car until the last minute when they're moving house/emigrating/changing jobs/having a baby/etc.
You need to keep a sharp eye on the classifieds and be first on the phone to arrange a viewing. A willingness to travel anywhere at the drop of a hat helps too. With any luck, a year or two down the line you'll be able to sell it on for what you paid (sometimes even a little more).
As for what to buy, to stand the best chance of recouping your money, I'd recommend something that fellow owners wave at. Seriously - anything made in limited numbers that's now out of production and has cult status amongst car enthusiasts won't be too hard to sell on to a buyer eager to find out what all the fuss is about.
Edited by Risotto on Tuesday 27th August 17:18
I'm pretty sure my Jeep wrangler won't depreciate and will actually go up in value a bit - although any profit will probably be lost in maintenance.
There are probably a lot of prestige cabrios that won't move below the £5k mark if they are well looked after - especially pre 2004? Models with cheaper road tax.
It would need to be something special that wasn't replaced by a new equivalent model a few years later.
There are probably a lot of prestige cabrios that won't move below the £5k mark if they are well looked after - especially pre 2004? Models with cheaper road tax.
It would need to be something special that wasn't replaced by a new equivalent model a few years later.
The problem with depreciation proof cars is that they tend to need lots of money to keep the value high.
I purchased an E36 M3 EVO 4 months ago for just under £4k and to get it to the standard I want I've already spent £3k on it...and that's doing 80% of the work myself. And this car wasn't a dog either. Full BMWSH history and had £18500 spent between 2002-2012.
My Corrado was in the same. Looked after ones fetch a decent premium but anything average was worth about £2k less.
I purchased an E36 M3 EVO 4 months ago for just under £4k and to get it to the standard I want I've already spent £3k on it...and that's doing 80% of the work myself. And this car wasn't a dog either. Full BMWSH history and had £18500 spent between 2002-2012.
My Corrado was in the same. Looked after ones fetch a decent premium but anything average was worth about £2k less.
Clio Williams
Toyota MR2 Mk1
Peugeot 205 GTi
Renault 5 GT Turbo
The above would have to be in excellent to immaculate condition and lowish mileage. Depreciation would be neglible if you do under 6k a year, and low if you do around 10k. Do expect things to go wrong though - they're old cars. Also expect to spend money on them to get them driving like new.
I'n tempted to add the 106 GTi to the list too. A future classic? The example I drove is probably the best FWD road car I've ever driven.
Toyota MR2 Mk1
Peugeot 205 GTi
Renault 5 GT Turbo
The above would have to be in excellent to immaculate condition and lowish mileage. Depreciation would be neglible if you do under 6k a year, and low if you do around 10k. Do expect things to go wrong though - they're old cars. Also expect to spend money on them to get them driving like new.
I'n tempted to add the 106 GTi to the list too. A future classic? The example I drove is probably the best FWD road car I've ever driven.
The issue you've got is not just the depreciation side of things but also the maintenance. Have a gander in the Porsche forum - a chaps just picked up a boxster and it's going to cost him a few quid to right some faults with the thing.
I'd suggest something like a mk1 MX5 with little no rust. Maintenance is cheap - most can be done yourself with few specialist tools. If the thing starts to develop rust, get it nipped in the bud early and it's not expensive.
That'd be the way I'd go.
I'd suggest something like a mk1 MX5 with little no rust. Maintenance is cheap - most can be done yourself with few specialist tools. If the thing starts to develop rust, get it nipped in the bud early and it's not expensive.
That'd be the way I'd go.
As above. Many cars can be depreciation proof. It's about buying a decent car for the right price.
The cars I've had my best luck with see ones which have been owned by the same person (preferably the buyer) for a long period of time and have spent what's necessary to keep them in good
Condition.
I've also learned that buying cars at the bottom of their price range is the wrong thing to do and will more often than not bite you in the behind.
The cars I've had my best luck with see ones which have been owned by the same person (preferably the buyer) for a long period of time and have spent what's necessary to keep them in good
Condition.
I've also learned that buying cars at the bottom of their price range is the wrong thing to do and will more often than not bite you in the behind.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff