Are the low £20k M12's worth it? Best to buy private?

[tobiah]

Hi there,

I'm really thinking about buying an M12 to enjoy for a year or two, looking after it and running it as a second, fun car. Then after 1-2 years I'd love to try something else.
I know its possible that the car will lose money even though they seem to be levelling out if not rising in value slightly...

Would you say its best to buy private so that I don't lose too much when it comes time to sell?

Has anyone else bought one with the idea of just owning it for 1-2 years?

Does anyone know of any up for sale at the moment that look to be a good buy? I'd prefer to spend slightly extra and get a sorted one rather than have a load of hassle when I buy it to get it up to scratch.

Thanks for your help!

[Chapppers]

I bought mine as a stepping stone to something else, then fell in love with it, then spent a fk-tonne of money on it to keep it going, then it became more valuable to me than anyone else. 3 1/2 years later it's still putting a smile on my face every time I drive it.

Buy wisely.

[Air Support]

+1

Pretty much as above.

Had only expected to own one for a couple of years, now wouldn't sell barring financial disaster

[tobiah]

Thanks guys, I half expected that actually!

Still trying to convince my wife as although she's happy to spend this much on a relatively slow depreciating car she thinks they look a bit chavvy! Have to work on her. I think they look nice without the wing on also and less severe so hopefully that will appeal!

Bit worrying to hear you had to spend so much getting it up to scratch. Did you have it checked over before you bought it? Thanks

[simonx50]

tobiah said:

Thanks guys, I half expected that actually!

Still trying to convince my wife as although she's happy to spend this much on a relatively slow depreciating car she thinks they look a bit chavvy! Have to work on her. I think they look nice without the wing on also and less severe so hopefully that will appeal!

Bit worrying to hear you had to spend so much getting it up to scratch. Did you have it checked over before you bought it? Thanks

Don't buy one they are definitely chavvy and expensive to run!!!

[Adrian W]

if you are looking to spend 20k on one how much do you expect your first year running costs to be?

[johns355]

I bought my 3R 5 weeks ago from a garage with 12 months warranty which gave me some peace of mind. Obviously warranty was covered by the purchase price but I haven't got great mechanical knowledge so I don't mind paying it. Since owning the car there's a few minor issues that have come to light so she's booked in to the garage to sort out next week- exactly what the warranty is for. Now I'm sure you could get the car checked privately then buy a warranty for that extra comfort just in case. I personally wanted an original one- unmodified, quick enough for me and I think they'll hold there value better. My previous car was a 355 which I owned for 3 years, bought from a garage then sold privately, lost £3.5k, I reckon the same will be for the Noble, fingers-crossed! John

[tobiah]

Adrian W said:

if you are looking to spend 20k on one how much do you expect your first year running costs to be?

I was thinking low 20's, I don't want the most expensive or the cheapest one...

I was expecting servicing and misc to be £1000 a year minimum with me putting aside £2k a year total for maintenance or the car not including insurance/petrol etc.

I have the money to run it just want to make a fair financial buy that will lose a massive amount if I do sell it..

[tobiah]

johns355 said:

I bought my 3R 5 weeks ago from a garage with 12 months warranty which gave me some peace of mind. Obviously warranty was covered by the purchase price but I haven't got great mechanical knowledge so I don't mind paying it. Since owning the car there's a few minor issues that have come to light so she's booked in to the garage to sort out next week- exactly what the warranty is for. Now I'm sure you could get the car checked privately then buy a warranty for that extra comfort just in case. I personally wanted an original one- unmodified, quick enough for me and I think they'll hold there value better. My previous car was a 355 which I owned for 3 years, bought from a garage then sold privately, lost £3.5k, I reckon the same will be for the Noble, fingers-crossed! John

That sounds great losing £3.5k in 3years isn't bad at all especially going from buying trade to selling private. How do you find it compared to the 355?

Thank you

[JBliss]

You pay for what you get..

Buy a Noble in the Low 20's and chances are that you will have to spend a fair bit getting it to a high standard.

For a very well looked after car that wants for nothing, you would be looking at high 20's imo

[mgbond]

JBliss said:

You pay for what you get..

Buy a Noble in the Low 20's and chances are that you will have to spend a fair bit getting it to a high standard.

For a very well looked after car that wants for nothing, you would be looking at high 20's imo

Is that really true?

I've spent thousands on my 2.5 with uprated parts all over it. Would I really get mid 20s for it compared to 3's and 3Rs on the market. I suspect I would only be able to market it at around 22k if I was to sell (Which I'm not by the way).

If we are talking 3Rs then u could be right but as long as its not to close to a M400?

Bondy

[tobiah]

I think ideally i'm waiting for someone who has spent the £'s on bringing their car up to scratch but is now ready to move on and is reasonable about the price they expect.

[tobiah]

I think ideally i'm waiting for someone who has spent the £'s on bringing their car up to scratch but is now ready to move on and is reasonable about the price they expect.

[TuxMan]

I think you are dreaming a bit if you think you can get a good car for 20k !!! cheapest non cat c\d car on pistonheads in £25 k , they are appreciating at quite a rate at the moment and i feel this will only continue as the factory pushes the M600 and the brand becomes more established .

Tux

[tobiah]

I am not expecting to pay £20k, when I said low £20k I am talking lower 20's. 20-25...

[StreetDragster]

mgbond said:

Is that really true?

I've spent thousands on my 2.5 with uprated parts all over it. Would I really get mid 20s for it compared to 3's and 3Rs on the market. I suspect I would only be able to market it at around 22k if I was to sell (Which I'm not by the way).

If we are talking 3Rs then u could be right but as long as its not to close to a M400?

Bondy

I'd agree with that, when i was looking, i mentally put the cars into bands for price, and i personally wouldn't pay 3R prices for a GTO, if i read GTO and the price was too high i just skipped over the advert. I imagine alot of people would do the same, for almost all marques of car, rightly or wrongly.

3R and M400's seem to be at least £10k apart, crazy

Matt

[TuxMan]

so using you logic if there was a mint GT03 at the same price as a averidge quality 3R you would just not even consider the GT03 ? bearing in mind the only difference between the 2 is headlights .

Tux

[Green3R]

Noone can really predict what the prices will do- seasonally they might drop in winter.

But, my guess is that even if my car contiues to drop at the rate it has over the last 7 years (previous owner) I'll loose 2k a year.
Can't see that happening though.

I lost £1500 on a 911 I had for a year. But what else could I have had- I could have bought a 5 year old astra and probably lost the same!

Chances are whatever you pay there will be things you need/would like done. Mine needed nothing.... new front tyres, water pump belt, front splitter, remap....
the list grows every day.

Not easy to justify having one so give up with that- it's a toy so if you have the cash it's more fun than 0.5% return from the bank!

[StreetDragster]

TuxMan said:

so using you logic if there was a mint GT03 at the same price as a averidge quality 3R you would just not even consider the GT03 ? bearing in mind the only difference between the 2 is headlights .

Tux

Nope, like i say i mentally put the car into bands, and the 3 and 3R band overlapped as you say they are very similar and the specs closer. But it would take a very special and clued up buyer to pay 3R prices for a GTO in my opinion.

Its like anything, a Focus ST with mega spec compared to a Focus RS, you wouldn't expect the ST to sell if it was priced the same to the general buyer, it would take someone special to pick it out.

[ajf]

When I was looking I had 2 options spent £25-£30k or look for one under the £20k and spend the same getting it to where I want the car and done by people I trust

Adrian