Depreciation, never great but glad i didnt buy a Porsche....
Discussion
Just been speaking to my dad who is somewhat gutted. Last year he bought a brand new 911 C2S Cab with PDK. He paid a few pennies shy of 90k. Having concluded (even before the car arrived funnily enough) that Porsche just arent special anymore he popped into the dealer to find out what they would give him. To say he left gutted would be a total understatement. Having had the car for a mere 7 months and run up a grand total of 1k miles, an offer of 62k nearly made him cry...
That said his mate just sold his 5yr old 997 S for 28k, now thats some car for the cash!!
That said his mate just sold his 5yr old 997 S for 28k, now thats some car for the cash!!
Your dad should take comfort from the great work he's done for the country! Of the 28k he's lost I would imagine 20k will have been tax.
Without wishing to kick the man when he's down, didn't he know about Porsches before he signed the cheque? Buying ANY car (save a very small few that futblers and other imbeciles insist on paying premiums for until their highlights grow out) and tipping it back to a dealer almost straight away is going to be a trousers down moment. We shouldn't sit here thinking Astons would be any different.
He should've kept it a while longer and appreciated it for the drive, taking time deciding what to buy next
Without wishing to kick the man when he's down, didn't he know about Porsches before he signed the cheque? Buying ANY car (save a very small few that futblers and other imbeciles insist on paying premiums for until their highlights grow out) and tipping it back to a dealer almost straight away is going to be a trousers down moment. We shouldn't sit here thinking Astons would be any different.
He should've kept it a while longer and appreciated it for the drive, taking time deciding what to buy next
Ouch!!!
Porsche always seem to lose loads.
I had a C2 cab for around 7 months and lost 10k on it, thought that was bad.
I think the Astons seem to hold their money allot more and think this is because there
is less stock on the market than Porsche's etc.
The Aston i have had for a year now and still enjoy it and fingers crossed hasn’t let me down.
I still think i could sell it for near on what i bought it for as they have held their value quite well.
On a more positive note, tell your dad to get some enjoyment out if it and stick another digit on the end of that 1k!!!!
Porsche always seem to lose loads.
I had a C2 cab for around 7 months and lost 10k on it, thought that was bad.
I think the Astons seem to hold their money allot more and think this is because there
is less stock on the market than Porsche's etc.
The Aston i have had for a year now and still enjoy it and fingers crossed hasn’t let me down.
I still think i could sell it for near on what i bought it for as they have held their value quite well.
On a more positive note, tell your dad to get some enjoyment out if it and stick another digit on the end of that 1k!!!!
I learned the hard way not to buy new cars after losing £16k in two years on an M3 and now £40k in four years on an M5. That's why the siren voice of the Rapide will be resistd at least for now. Tempting as it might be to sell DB9 and M5 and make up the difference to buy a new Rapide, I will wait until the price drops into double figures. I will also not buy a new model M5 when it comes out, however fast it is until second hand prices get sensible.
It's not just new cars let's be honest. I thought I was smart buying my DB9 convertible for £96k when 18 months old with 6k on the clock - saving circa £20k on the new price . A year later it was probably worth at least £20k less .
My solution is to hang on to it until every other right hand drive DB9 convertible with manual gears has fallen apart
My solution is to hang on to it until every other right hand drive DB9 convertible with manual gears has fallen apart
Lets face it, cars are not an investment with a very tiny set of exceptions. He hasnt actually parted with the car and is only thinking about it, if he has any sense he will hold on to it a while. Paying near on list price and then only keeping for 7 months is just madness. Worse still he has had 9 Porkers and still hasnt learnt A similar thing happened when the 996 targa came out and he bought that.
Nothing wrong with buying a new car if you plan to hang on to it.
Nothing wrong with buying a new car if you plan to hang on to it.
A basic boxster or 997 C2 is the secret anti depreciation Porsche and some dealers were giving away demo mile 997's cars a year back for prices in the low £50's....£90k on any 911 barring a GT3 will see a lot of cash being thrown away.OP's father was a bit bonkers.
That said I think the cheaper V8V's and DB9's being sold by Aston dealers around the £50k mark are all about £10k too expensive at the moment..... XKR is better value and will depreciate less over 12-18 months.
Bennno
That said I think the cheaper V8V's and DB9's being sold by Aston dealers around the £50k mark are all about £10k too expensive at the moment..... XKR is better value and will depreciate less over 12-18 months.
Bennno
XKR....less depreciation.......i bought a new mk2 xk for 72k......didn't like it so decided to trade up to db9....5 months old dealer offered me 36k on jag with only 2 1/2k on the mileage.......you can pick up 07/08 xkr convertibles now for less than 40k......
the aston deprciation is alot less than than jags....
the aston deprciation is alot less than than jags....
I have owned 3 Astons, all second hand.... the first 2 I made a profit on and my latest 55 plate DB9 the previous owner dropt 63k on......as I said previously you've got to be rich or a fool to buy any new car.......however if the jolly nice couple who have just won 56m on the Euro lottery are reading this, then buy a new one !!!!
bananarob said:
Just been speaking to my dad who is somewhat gutted. Last year he bought a brand new 911 C2S Cab with PDK. He paid a few pennies shy of 90k. ...he popped into the dealer to find out what they would give him. To say he left gutted would be a total understatement. Having had the car for a mere 7 months and run up a grand total of 1k miles, an offer of 62k nearly made him cry...
The actual depreciation your father will have experienced could be anything upto 30% less than that quoted if he sold his car privately through the web.One of the interesting statistics you don't see quoted much is the spread between bid/offer in Glasses Guide; i.e. How much you can p/ex for vs how much you'd have to pay. It varies massively from car to car. An Audi A4 Avant 3.0TDI has a 12% spread. An Aston Martin DB7 has a 28% spread. A Porsche Boxster S 16%. (some of my cars as it happens, I looked the other day)
You might intepret this in a number of ways;
a) AM dealers might just have higher gross margins, but how would they avoid them being competed away?
b) Some cars have higher marketing and distribution costs than others so need to have a bigger spread. i.e. The overheads for selling some car brands are higher.
c) Some cars need more pre-prep to sell them because they are less well built.
d) Some cars are not selling well and therefore the spread includes an implicit funding cost for taking on slow moving stock. This might apply to high performance cars just now, just look at the new car sales data.
tonyhall38 said:
XKR....less depreciation.......i bought a new mk2 xk for 72k......didn't like it so decided to trade up to db9....5 months old dealer offered me 36k on jag with only 2 1/2k on the mileage.......you can pick up 07/08 xkr convertibles now for less than 40k......
the aston deprciation is alot less than than jags....
Sorry I was talking about a used 07/57 plate low mileage XKR at £36k being better value and likely to depreciate less than many of the 55/06 plate early V8V being sold at £50k. the aston deprciation is alot less than than jags....
Buying either new would be the act of a madman.
Bennno
If nobody purchased new cars then there would no used cars to purchase. The only used car that I have purchased in recent years was a GT3. From the day I bought it to the day I sold it I was unsure about its condition. A great car blighted by uncertainty (7 months old and 1500 miles) which had me back at the OPC more often than any other car I have owned apart from an M3. I love being the first to own a car and know its history. At the moment I don't ever intend selling the V12V and so depreciation is not an issue for the first time.
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