Buy a car (convertible) now - sell it in the Summer
Discussion
I've always thought that car ownership needn't be an expensive thing IF (and I know it's a big IF), you can buy the right car.
Last December I bought an S3 convertible and then sold it in June. I broke even. Maybe I got lucky....
So, I'm tempted to do the same again this year, before Xmas (although not an S3 again).
So, is it a mad idea? My concern is that unlike last year, the market is in decline, so I'd have to strike a really good deal when buying to offset the potential decline in the market between now and the Summer.
Thoughts?
Last December I bought an S3 convertible and then sold it in June. I broke even. Maybe I got lucky....
So, I'm tempted to do the same again this year, before Xmas (although not an S3 again).
So, is it a mad idea? My concern is that unlike last year, the market is in decline, so I'd have to strike a really good deal when buying to offset the potential decline in the market between now and the Summer.
Thoughts?
Well I’m not sure my thoughts count for much, but by some accounts, anything ‘prestige’ is not in big demand whereas your typical ‘economy’ cars are doing well.
Most convertibles would seem to be in the first category.
But I suppose, if that turns around in six months, and the sun is shining you could be on a winner again.
Most convertibles would seem to be in the first category.
But I suppose, if that turns around in six months, and the sun is shining you could be on a winner again.
Watching trade auctions it looks like anything with fading "imagine" but still cool is taking an absolute total kicking; XKRs, Maseratis, Mercedes SLs and SLKs, Z4s, basically anything a few years old that would normally be bought by someone well off enough to have a toy and take the running costs but not wealthy enough to spunk £100k+ on a new one, or by a dreamer who can finance his way into it but doesn't have the free cashflow for the odd £1k - £2k bills they throw up or to fit tyres at £500 an axle set (or often even routine servicing, this is the road to being a total wreck for all older high end cars).
The latter buyers have been largely chucked out of the market, increasing supply as some sell off the car they can't afford to keep and decreasing demand when others have seen their outgoings go up 50% and lending rates double or triple.
Will it be better in the summer or will the market settle back to these things being worthless and hard to sell, as in the good old days? I don't know, but if you do have cash and you want to pick up a hero car from the last days of big displacement unruly petrol cars it's a great time to be buying.
See also the triumphant return of the sub £5k smoker barge.
The latter buyers have been largely chucked out of the market, increasing supply as some sell off the car they can't afford to keep and decreasing demand when others have seen their outgoings go up 50% and lending rates double or triple.
Will it be better in the summer or will the market settle back to these things being worthless and hard to sell, as in the good old days? I don't know, but if you do have cash and you want to pick up a hero car from the last days of big displacement unruly petrol cars it's a great time to be buying.
See also the triumphant return of the sub £5k smoker barge.
Edited by GeniusOfLove on Monday 11th December 17:41
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