Most money you have lost on car in shortest time.....
Discussion
When I worked in the car trade around 15 years ago, a car salesman from a fiat garage we dealt with told me how he had sold a Fiat Croma (obviously old style) which the buyer, a retired bank manager, had loaded to the hilt with every conceivable option (can't remember the exact price but it was serious money). Six months later he was back wanting to trade it in after a change of heart and a very difficult conversation ensued......
Just wondered if other PH'ers have dropped serious money in similar circumstances?
My biggest loss in percentage terms -
I worked with a car trader for a few years - he underwrote cars for main dealers and then sold them at auction. I decided to give it a go myself and my first purchase was an Allegro (finished with a vinyl roof with some panels painted by aerosol
) I bid £75 on it, picked it up with the intention of selling it privately but within the first mile I realised it required serious work (gearbox knackered and dodgy wheel bearing) so diverted en-route to the auction. Entered it for the sale that day and three hours later it sold for £45 and a week later I received a cheque (less commission/entry fee) for £3!
Just wondered if other PH'ers have dropped serious money in similar circumstances?
My biggest loss in percentage terms -
I worked with a car trader for a few years - he underwrote cars for main dealers and then sold them at auction. I decided to give it a go myself and my first purchase was an Allegro (finished with a vinyl roof with some panels painted by aerosol
) I bid £75 on it, picked it up with the intention of selling it privately but within the first mile I realised it required serious work (gearbox knackered and dodgy wheel bearing) so diverted en-route to the auction. Entered it for the sale that day and three hours later it sold for £45 and a week later I received a cheque (less commission/entry fee) for £3! 
thinfourth2 said:
PurpleMoonlight said:
Consecutively:
£29,000 on a Merc S600L in 15 months.
£11,000 on a Porsche Cayenne in 7 months.
£15,000 on a Bentley Flying Spur in 8 months.
So £55,000 over 30 months.
Why do i get the feeling you work in finance £29,000 on a Merc S600L in 15 months.
£11,000 on a Porsche Cayenne in 7 months.
£15,000 on a Bentley Flying Spur in 8 months.
So £55,000 over 30 months.
I lost £6000 in just under eight months on an RX8 (not exactly telephone numbers money wise, but it had been a stretch to buy the car in the first place on the salary I was on at the time). Thought it was a good'un, turned out to be a bit of a pup. A series of disinterested salesmen, plus one desperate seller led to a nasty hit in the wallet (and a couple of years running a diesel!).
Still, you live and learn I guess!
Still, you live and learn I guess!
Fast Fuse said:
I lost £6000 in just under eight months on an RX8 (not exactly telephone numbers money wise, but it had been a stretch to buy the car in the first place on the salary I was on at the time). Thought it was a good'un, turned out to be a bit of a pup. A series of disinterested salesmen, plus one desperate seller led to a nasty hit in the wallet (and a couple of years running a diesel!).
Still, you live and learn I guess!
Hold on here. You sold it for a £6k hit .... That buys a lot of petrol. Still, you live and learn I guess!
Sales men not interested in a part exchange and one desperate seller. Lesson learnt I hope.
£6k that's a nice week in the saychelles
Bought a shed of a Land Rover (should have known better...) engine went pop, fixed (replaced with one I rebuilt) that, and the doors, and the brakes and the electrics and and and.....sold it for what I paid for it one year later. Probably lost about £2k and a huge amount of time, still it was good fun and I did take it off-roading. Just bought another so I haven't learned although the new one seems better so far...also lost easily double that amount on a Stag over 4 years. Same thing, bought a bad one, engine went pop, fixed that and some other bits and sold it for what I paid for it...again, bought another one...all good fun though. ho hum.
dvs_dave said:
....and make so much money, that losses like that are inconsequential, otherwise you wouldn't have done it 3 times in a row.
You know, when you go through 5 years of pure hell and lose everything that matters to you, money really doesn't seem to matter that much any more .....Gassing Station | General Gassing | Top of Page | What's New | My Stuff