70k to invest in a car for 12 months
Discussion
Here’s the deal. Let’s say you have 70k and you’re a car nut. 1st option is to try and find an exotic car, run it for a year, put 10k miles on it but still be able to sell it for the same money you paid.
2nd option is buy a car, any car, hoik it in storage and make a reasonably tidy profit selling it 12 months later.
What would those cars be?
2nd option is buy a car, any car, hoik it in storage and make a reasonably tidy profit selling it 12 months later.
What would those cars be?
Osinjak said:
Here’s the deal. Let’s say you have 70k and you’re a car nut. 1st option is to try and find an exotic car, run it for a year, put 10k miles on it but still be able to sell it for the same money you paid.
2nd option is buy a car, any car, hoik it in storage and make a reasonably tidy profit selling it 12 months later.
What would those cars be?
Almost anything classic 5 years ago, today almost nothing.2nd option is buy a car, any car, hoik it in storage and make a reasonably tidy profit selling it 12 months later.
What would those cars be?
I reckon almost everything is valued lower today than it was 12 months ago, and unfortunately, the trajectory suggests they will be even lower next year.
What would you have bought a year ago, that you think would have made a tidy profit today?
Multiple 320d's / MX5s on finance.
OP it's a standard "your investment might go up but is probably a bag of s
te" situation. I have bought various cars over the years, the only one that showed any potential for investment was a relatively boring saloon, due to dumb luck. The interesting/rare cars, not so much.
That said, I reckon your best bet is to harness the recent EUR weakness (boo Brexit) and buy European then sell later when it's all different (boo Brexit again). Slim margins, youd be better off doing the currency markets.
Good luck with whatever you choose.
OP it's a standard "your investment might go up but is probably a bag of s
te" situation. I have bought various cars over the years, the only one that showed any potential for investment was a relatively boring saloon, due to dumb luck. The interesting/rare cars, not so much.That said, I reckon your best bet is to harness the recent EUR weakness (boo Brexit) and buy European then sell later when it's all different (boo Brexit again). Slim margins, youd be better off doing the currency markets.
Good luck with whatever you choose.
Perhaps not the drivers car, but you could find either a nice Pagoda SL or a slightly shabby 190 SL and lay it up / use it sparingly (in the summer) and I reckon you'll get some money back on the other side.
There not exactly going to go down in value, are they?
Another option is a BMW 3.0 CSI / CSL E9, people are cottoning on to these and are soaring in value.
Just mentioning CSL, there's also the M3 CSL and I think another year under its belt will add a bit more (than it admittably already has) to its value.
There not exactly going to go down in value, are they?
Another option is a BMW 3.0 CSI / CSL E9, people are cottoning on to these and are soaring in value.
Just mentioning CSL, there's also the M3 CSL and I think another year under its belt will add a bit more (than it admittably already has) to its value.
I'd agree with the large number of posters who say that there is no car that you can guarantee will hold its value over 12 months.
But I'd also put forward that view that you could buy almost ANY make of car and run it for 12 months and either break even or make only a relatively small loss.
To do this you just need to remove your focus from which make and model to buy and refocus on buying the car at a very good price.
In the OP's case, find a car that is genuinely worth £80k today but who also has a very motivated seller and bid him £70k for it.
Could be for a number of reasons, not necessarily because the bailiffs are knocking, but his new car could have arrived and he's trying to beat the trade in offer, or the money is needed for a business opportunity. Those sellers are out there at all price levels, it's how dealers source some of their stock.
Some people will tell you to go away with various degrees of politeness it's true, but you arent in this to make friends. It does mean that you can't be too fussy about the spec of the car. If you really wanted a black one but the one in question is only very, very dark grey, or even if it's a convertible but you really wanted a coupe, for example.
Having bought it for £10000 behind the current advertised price, in 12 months time you may still be able to justify advertising it for the same price that you paid for it. Of course you then have to find a buyer, which may or may not be easy, but then that's always the way!
But I'd also put forward that view that you could buy almost ANY make of car and run it for 12 months and either break even or make only a relatively small loss.
To do this you just need to remove your focus from which make and model to buy and refocus on buying the car at a very good price.
In the OP's case, find a car that is genuinely worth £80k today but who also has a very motivated seller and bid him £70k for it.
Could be for a number of reasons, not necessarily because the bailiffs are knocking, but his new car could have arrived and he's trying to beat the trade in offer, or the money is needed for a business opportunity. Those sellers are out there at all price levels, it's how dealers source some of their stock.
Some people will tell you to go away with various degrees of politeness it's true, but you arent in this to make friends. It does mean that you can't be too fussy about the spec of the car. If you really wanted a black one but the one in question is only very, very dark grey, or even if it's a convertible but you really wanted a coupe, for example.
Having bought it for £10000 behind the current advertised price, in 12 months time you may still be able to justify advertising it for the same price that you paid for it. Of course you then have to find a buyer, which may or may not be easy, but then that's always the way!
981 Spyder.
718 Spyder £13k more with potential 10% hard Brexit surcharge making it potentially a £90k + car.
Lukewarm reception to the more muted gpf filtered 718 and more cars this time over 227 981s will mean the older car will rise in value.
The other one is the 991. Carrera T. Great package and last of the true narrow bodied pre filtered Carreras. Drives and sounds like the 997.1 Carrera S. Sold mine to make way for another car but with only 176 'manuels' in the UK the right lightweight spec cars are a no brainer investment wise.
718 Spyder £13k more with potential 10% hard Brexit surcharge making it potentially a £90k + car.
Lukewarm reception to the more muted gpf filtered 718 and more cars this time over 227 981s will mean the older car will rise in value.
The other one is the 991. Carrera T. Great package and last of the true narrow bodied pre filtered Carreras. Drives and sounds like the 997.1 Carrera S. Sold mine to make way for another car but with only 176 'manuels' in the UK the right lightweight spec cars are a no brainer investment wise.
Ay caramba said:
Just mentioning CSL, there's also the M3 CSL and I think another year under its belt will add a bit more (than it admittably already has) to its value.
CSL is probably the only car I’ve owned that I could make a reasonable claim to have broken even on after running costs. In saying that, I sold it in late 2015, and I don’t believe even asking prices have changed much since then, and I suspect selling prices are lower. I see no reason to suggest they would increase over the next year eitherGreat cars though, and I’d highly recommend owning one for a while, but can also run up big enough bills when things need sorting
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