You think the depreciation on the 8 is bad?
03-28-2009, 05:50 PM
#1
You think the depreciation on the 8 is bad?
Go check out ebay motors or cars.com and look at prices on Mercedes S and E class vehicles.
I can literally buy S class Mercedes, certified, 2006 model year, 35,000 to 45,000 miles, clean title and some certified, for $23,000 to $30,000 all day long.
I know for a fact that these cars sold for $82k to $96k brand new. My buddy has one.
So, if my math is correct, that's about $20k in depreciation per year, which works out to about $1,700 per month.
I can literally buy S class Mercedes, certified, 2006 model year, 35,000 to 45,000 miles, clean title and some certified, for $23,000 to $30,000 all day long.
I know for a fact that these cars sold for $82k to $96k brand new. My buddy has one.
So, if my math is correct, that's about $20k in depreciation per year, which works out to about $1,700 per month.
03-28-2009, 06:40 PM
#3
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Who is complaining anymore? The most informed keep saying rotarysports depreciation is par for the years in which they were made.
All those cats who defaulted on their rotarysports, because of fuel, are now saving about 50 cents each week by driving 20mpg vehicles. It will
take many weeks for those 50 cents to equal the $20,000 lost.
Unless you are going to default on your rotarysports, or unless there is a better rotarysports model out, nothing to get worked up about yet.
Lots of people lost $100,000 in 10 months. Just means they will all have to be happy with what they currently have, for the rest of their life.
All those cats who defaulted on their rotarysports, because of fuel, are now saving about 50 cents each week by driving 20mpg vehicles. It will
take many weeks for those 50 cents to equal the $20,000 lost.
Unless you are going to default on your rotarysports, or unless there is a better rotarysports model out, nothing to get worked up about yet.
Lots of people lost $100,000 in 10 months. Just means they will all have to be happy with what they currently have, for the rest of their life.
Last edited by User24; 03-28-2009 at 06:48 PM.
03-28-2009, 06:47 PM
#4
Oh, the only reason I mention this is I'm looking for a sedan again. I was going to get a BMW 330i, then a Pontiac G8 GPX, but I've decided to get something larger and softer.
We have a new one and need a practical sedan.
The way the economy is and the way things look to be in the future (things are getting worse; don't let any stock market short-term rallies fool you), I can't see myself buying a new car for a long, long time, if ever again.
We have a new one and need a practical sedan.
The way the economy is and the way things look to be in the future (things are getting worse; don't let any stock market short-term rallies fool you), I can't see myself buying a new car for a long, long time, if ever again.
03-28-2009, 08:02 PM
#6
Grand Chancellor
According to the Gold Book here, the rx-8 depreciates the same as the Z or S2k. Actually S2k is worse off because they MSRP way too high for what it is.
But yes, luxo sedans depreciates like crazy. Check out the 7-series or the A8 cars. Crazy!
But yes, luxo sedans depreciates like crazy. Check out the 7-series or the A8 cars. Crazy!
03-28-2009, 08:48 PM
#7
Shazy, yes, I'll probably keep the 8. It's low mileage, so I'll just garage it in the winter and mainly use it on weekends.
delhi - it's funny you mention that b/c I was looking at both of those cars, also, along with the BMW 5 series. Oddly, I think the 7 series is better looking than the 5 series, but the 5 series seems to hold its value better as a % over the 7 series.
delhi - it's funny you mention that b/c I was looking at both of those cars, also, along with the BMW 5 series. Oddly, I think the 7 series is better looking than the 5 series, but the 5 series seems to hold its value better as a % over the 7 series.
03-29-2009, 03:32 AM
#8
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I've never purchased a brand-new car in my life, and never financed one at all. You can get a much, much better deal with a used luxury/sport car. I got my RX8 for under 12k, it was 4 years old and only had 17000 miles on it. You can get a recent body-style Jaguar XJR for about $20-25K, for example. You'll get all the luxury you want, and 400 Horsepower. And lose less on depreciation. That's just me though. I've had qutie a few Bimmers, a couple of Benzes, and back in the day, three Caddys. The most I've ever paid for one was about $20,000. You just got to do some homework, and AVOID the dealer.
03-29-2009, 09:13 AM
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Usually the more a car costs, the faster it depreciates. You can make a valid argument that is is never worth it to buy new, even if you keep the car for 5+ years. I bought my 8 new in '04 but I dont know if Id ever do it again. Im looking into a 370 and with the options im looking at it would be around 33.5k new. Id be willing to bet if I wait a year for a used one Id be able to get one for low to mid 20s. It just makes more sense. Same thing with an R3 I am looking at.
The rapid depreciation is caused by likely a combination of two things. There is too much supply and/or the price is just too high to start with. Just look at what dealers are having to do to get rid of '08 8s and '08 Zs. Most of them are nearly discounted 8-10k.
The rapid depreciation is caused by likely a combination of two things. There is too much supply and/or the price is just too high to start with. Just look at what dealers are having to do to get rid of '08 8s and '08 Zs. Most of them are nearly discounted 8-10k.
03-29-2009, 11:52 AM
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Used car prices also fell further down with the economy going bad, and people having less money to spend on luxury items in general. I bet if you look at Honda Civics and such, there is actually less depreciation there...
03-29-2009, 12:31 PM
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Usually the more a car costs, the faster it depreciates. You can make a valid argument that is is never worth it to buy new, even if you keep the car for 5+ years. I bought my 8 new in '04 but I dont know if Id ever do it again. Im looking into a 370 and with the options im looking at it would be around 33.5k new. Id be willing to bet if I wait a year for a used one Id be able to get one for low to mid 20s. It just makes more sense. Same thing with an R3 I am looking at.
The rapid depreciation is caused by likely a combination of two things. There is too much supply and/or the price is just too high to start with. Just look at what dealers are having to do to get rid of '08 8s and '08 Zs. Most of them are nearly discounted 8-10k.
The rapid depreciation is caused by likely a combination of two things. There is too much supply and/or the price is just too high to start with. Just look at what dealers are having to do to get rid of '08 8s and '08 Zs. Most of them are nearly discounted 8-10k.
I think you bring up a good example about 08 Zs and RX8s going for $8k-$10k off sticker. I bought my 2005 8 in May 06 for $7k off. The salesman walked me out to the used lot where there was an '05 GT with the sport package for more than the new one I just bought off the showroom floor. And yeah, they would have come down but the difference between a used one and a new one would not have been that different. My guess is if you find a left over 09 Z on a dealer lot a year from now, they would sell it to you for $8k off and it is a new car with full warranty.
04-01-2009, 10:43 AM
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Sorry, but XJR sucks big monkeys... It rides stiff as hell and yet has the handling of a Town Car. I wouldn't take one for free.... but that's a different discussion.
Thanks, I don't ever intend to sell but makes me feel much better.
04-01-2009, 10:03 PM
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Luxury car prices always go south in a bad economy. You can buy a used Maserati Quattroporte in the mid 40's now. Don't even get me started on my house depreciation!
http://cgi.ebay.com/ebaymotors/2005-...QQcmdZViewItem
http://cgi.ebay.com/ebaymotors/2005-...QQcmdZViewItem
04-03-2009, 07:28 PM
#18
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Last time i bought brand new was 1991 a turbo talon for 12.5k. Im a poor Fed employee (thank God) if my checks stop pcashing were in deep ****. Our kids moved out so Im going to finish my bachelors and get a promotion. The Fed govt is posting alot of good paying jobs lately.
Even if I made a million a year Id have a prob paying crazy money for a new car I can get for half off in 2 years.
Even if I made a million a year Id have a prob paying crazy money for a new car I can get for half off in 2 years.
04-05-2009, 04:42 PM
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Thats what i told my parents , the ****** mercedes isnt a good value holder. When you're talking percentages MAYBE. But no matter how u slice the pie , you're still losing like 40k , more then what my car is worth brand new. You dont buy such a car to retain its value (like my parents did) LOL.
04-07-2009, 12:42 PM
#22
no.
the fc rx7 is not really valuable. even a really clean copy. and a fd rx7 will hold value, but.... it wont hold value if you drive it. and honestly...
if you have $20k and want to keep that $20k in 20 years, this is what you do. buy a $5k car and invest that $15k, in 20-30 years, that should be at least $50-100k if you invest wisely.
no one buys cars to retain value. unless the car is truly unique and never driven. at all. original 50s corvette with 10k miles. value. bugatti from the 30s. value. rx8. not really.
the fc rx7 is not really valuable. even a really clean copy. and a fd rx7 will hold value, but.... it wont hold value if you drive it. and honestly...
if you have $20k and want to keep that $20k in 20 years, this is what you do. buy a $5k car and invest that $15k, in 20-30 years, that should be at least $50-100k if you invest wisely.
no one buys cars to retain value. unless the car is truly unique and never driven. at all. original 50s corvette with 10k miles. value. bugatti from the 30s. value. rx8. not really.
04-07-2009, 09:48 PM
#25
Thats what i told my parents , the ****** mercedes isnt a good value holder. When you're talking percentages MAYBE. But no matter how u slice the pie , you're still losing like 40k , more then what my car is worth brand new. You dont buy such a car to retain its value (like my parents did) LOL.
Just saw a 2004 750i with 58k miles sold for $18,800.