M12 for the summer...

[Pimpster]

Hi guys,

I'm normally lurking in the BMW forum, but am considering a M12 for the summer. Absolutely stunning cars. Just a quick question though, if I were to purchase one within the next month, what return/loss would I be expecting if I were to sell in say September/October? Or are the prices relatively steady all year around?

Cheers!

[Ash M400]

If you buy one, you won't sell it.

No problem

[plipton]

As with any car the depreciation is very much linked to the car's age and condition. Get a nice early 2.5 or 3 and most of the depreciation has happened already.

Buying now and selling late summer should be less painful than, say, a convertible but ask anyone in the trade when the market goes flat......... (why do you think the reg changes at that time of year if not to boost flagging new car sales!)

[pimpster]

Can't really afford to keep it, so looking at a healthy return after summer if I get one. Would one think its realistic that I would get roughly what I pay for it, after 6 months? Or say a max loss of under £1k? Or am I being too optimistic? Got around £30k to play with.

[mr.man]

In my experience you lose dosh every time you sell a car. I would expect you to lose at least 2 to 3 grand.

[Mr Noble]

Would all depend on the car you bought.

If you went for the cheapest bargain private sale, you may find you could sell it for the same, but you may also find its a lemon and costs you 3 grand to fix before you can sell it for the same.

Anyone have a crystal ball?

G

[Mr Noble]

Thinking more. I would think there are far safer cars to do that with. Porsche 996 or Ferrari 355 or other such cars that have reached their plateau and start to depreciate very slowly.

355's for example I would think, you could buy a rough one from a dodgy looking wide boy in Dagenham, give it an amazing valet and de-grease etc, spend a few quid on tarting it up and then sell it from your mates parents posh country house in Surry for a tidy profit.

Not a lot though, but maybe you could go 6 month for zero cost.

G

[NobleSteed]

Buying of selling an M12 you are in a very specialised and limited market. As has been said you are always likely to loose money on a car, unless you get a really good one privately (no dealer margin), never drive it and sell it on when the weather is just right. But then what is the point of having it.
I realise that Dealers have to make a profit but it does amaze me the sort of markup they look to return, I've been offered £33000!! for mine by a dealer so if i wanted to leave the Nobility (which I don't) it would be a massive loss for me. That is why I would like to sell mine privately and then buy an M400 which, again I intend to do privately. As I've now found an M400 I'll consider any 'Sensible' offer for mine, currently for sale on pistonheads in Macclesfield Cheshire)
I personally would rather visit and talk to the owner, and see the car in it's normal surroundings. That will tell you much more about the car than the dealer's showroom after the care is 'prepared' for sale. Yes, you must know what you are doing, and what to look for as there are definately some lemons out there. Warrenties are avaliable from the RAC (when I enquired they were quoting just over £500) if you need piece of mind.
If you take your time, and get the right car for you, 2 - 4 years old at the right money you shouldn't loose too much doing around 5,000 miles a year, and anyway the grin will be worth it.

Regards

Richard

[ThatPhilBrettGuy]

pimpster said:

...say a max loss of under £1k?

To be honest, if the money's that tight you don't want to be buying a Noble, or any performance car to be honest. If it breaks it'll cripple you... Every time I've had a performance car I've always banked for a £5k bill. Ok, I've never been hit with one yet but the odd £1k here and there isn't unheard of.

[AMG Merc]

Pimpster, have you considered a long-term rental?! You never know, there may be a company or a private owner somewehere willing to accomodate the concept.