Why are you guys whingeing about residuals??
Discussion
I've been looking through the classifieds this weekend and there is not a half decent 911 less than 5 years old for under £38k. Thats greater than 60% retained value after 5 years!! I'm not quite sure why everyone is going on about how residuals for a Porsches are now really poor.I wish they were!!
Deep said:
I've been looking through the classifieds this weekend and there is not a half decent 911 less than 5 years old for under £38k.[ Thats greater than 60% retained value after 5 years!! I'm not quite sure why everyone is going on about how residuals for a Porsches are now really poor.I wish they were!!
Define decent...
I know of a 01 51 plate C2 Coupe 3.6 manual done 11k for £38950
or a 01 X C4 Tip 3.4 coupe done 27k for £38950
I'm sure £37999 would buy either of them
>> Edited by mustard on Sunday 27th November 21:58
The 996TT gets the most press on this, however, an 00 car, decent spec & mileage is around £48k in a private sale, so thats £42k depreciation in 5 years (assuming new price of £90k) so thats £8,400 per year, or around £700 per month which aint that bad at all for a supercar.
I have lost count of the £££ I have lost on cars over the years - some worse than others (how does losing £23k on a Scooby STi in less than 2 years sound!) On the flip side I lost £500 in 12 months on my Boxster S in the days when they didn't depreciate, so can't really complain.
Its a buyers, not a sellers, market at the moment, but then thats usually the norm in the sports/super car market.
Rump.
I have lost count of the £££ I have lost on cars over the years - some worse than others (how does losing £23k on a Scooby STi in less than 2 years sound!) On the flip side I lost £500 in 12 months on my Boxster S in the days when they didn't depreciate, so can't really complain.
Its a buyers, not a sellers, market at the moment, but then thats usually the norm in the sports/super car market.
Rump.
40% depcn of a big no...is still a big number
Lets say it was £70k new and worth £38k (trade) now
Thats £10.6k depcn per annum
This is £17.7k in untaxed income (at 40%)
Add to this the financing cost (or loss on not having £70k invested)= 2.5k (if invested and taxed) or £5k if financing charges
Add £1500 insurance
Add £750 for the warranty
Add £1000 for a service and a set of tyres
Thats the best part of £25k a year of gross income!!!!!!!!!!!
>> Edited by kamal996 on Monday 28th November 09:30
Lets say it was £70k new and worth £38k (trade) now
Thats £10.6k depcn per annum
This is £17.7k in untaxed income (at 40%)
Add to this the financing cost (or loss on not having £70k invested)= 2.5k (if invested and taxed) or £5k if financing charges
Add £1500 insurance
Add £750 for the warranty
Add £1000 for a service and a set of tyres
Thats the best part of £25k a year of gross income!!!!!!!!!!!
>> Edited by kamal996 on Monday 28th November 09:30
40% of a big number is indeed still a big number, but define big? To someone on miniumum wage? To a millionaire?
Depreciation only makes sense as a percentage. Viewed in absolute terms most cars are a complete waste of money.
To me 50% in the first year would be bad depreciation. 50% over 4 years is good value for money, however much money that was. You can either afford it or you can't.
Depreciation only makes sense as a percentage. Viewed in absolute terms most cars are a complete waste of money.
To me 50% in the first year would be bad depreciation. 50% over 4 years is good value for money, however much money that was. You can either afford it or you can't.
victormeldrew said:
To me 50% in the first year would be bad depreciation. 50% over 4 years is good value for money, however much money that was. You can either afford it or you can't.
Totally agree with this. I bought my turbo in april 02 expecting it to be worth 50% of it's value after four years and about 30k miles. Six months away from the four year anniversary and I think we're on target.
DAZ
victormeldrew said:
40% of a big number is indeed still a big number, but define big? To someone on miniumum wage? To a millionaire?
Depreciation only makes sense as a percentage. Viewed in absolute terms most cars are a complete waste of money.
To me 50% in the first year would be bad depreciation. 50% over 4 years is good value for money, however much money that was. You can either afford it or you can't.
I am just glad there are people out there who can stomach this level of spending on a depreciating asset-me-I put the money into bricks and mortar and compromise on not having that lovely new car smell... I buy 2-3 year old cars at half price...thank you to you new car buyers whoever you are ....
JP. said:
..... I buy 2-3 year old cars at half price...thank you to you new car buyers whoever you are ....
Don’t mention it, you can have my car 2-3 years after i've screwed the f**k out of it.
Done
I will be happy to pay £38k for your 997 in 3 years time...go scr$w all you like...
kamal996 said:
..... I buy 2-3 year old cars at half price...thank you to you new car buyers whoever you are ....
Don’t mention it, you can have my car 2-3 years after i've screwed the f**k out of it.
Done
I will be happy to pay £38k for your 997 in 3 years time...go scr$w all you like...
That's about £30k more than an OPC will offer.:d
rumplestiltskin said:
In fairness I don't buy new cars, I always wait a year or so for the bulk of the depreciation to hit.
If you were not to buy sports/supercars because of the depreciation aspect then you would never end up buying one.
I think you could enlarge that to any class of car. Is there any measurable difference between sports cars as a class, and say, family saloons? If so is it better or worse?
kevinday said:
In fairness I don't buy new cars, I always wait a year or so for the bulk of the depreciation to hit.
If you were not to buy sports/supercars because of the depreciation aspect then you would never end up buying one.
I think you could enlarge that to any class of car. Is there any measurable difference between sports cars as a class, and say, family saloons? If so is it better or worse?
Its even worse on stuff like BMWs and Mercedes.. I cannot believe the sums people spend on specced up A4s and A6s and as for the A8...
I bought an A8 3.0 TDI which was 4 months old with 8k miles....list price £60k...I paid £35k...Unfortunately I found the seats and driving position really uncomfortable and swapped it for another one with the comfort seats which were no better..eventually sold it to a friend and broke even-but imagine how it must feel blowing £25k in 4 months!!
JP. said:
In fairness I don't buy new cars, I always wait a year or so for the bulk of the depreciation to hit.
You sir are a clever man, me i just can't resist that shinny new toy.
I think that's the point. Of course you can save a packet buying after n months from new. But that simply is not the same as ordering the car as YOU want, picking it up etc. Sure you lose money. But if you can't afford to own - don't buy.
fulham911club said:
In fairness I don't buy new cars, I always wait a year or so for the bulk of the depreciation to hit.
You sir are a clever man, me i just can't resist that shinny new toy.
I think that's the point. Of course you can save a packet buying after n months from new. But that simply is not the same as ordering the car as YOU want, picking it up etc. Sure you lose money. But if you can't afford to own - don't buy.
Erm...yes...yes..you are right...please keep buying new 997s...I think its err...a great idea....just dont forget to give me a call before you PX back to the main agent in 3 years time..I'll give you £1k more
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