[Kassim786]

As title states ? ... I actually purchased mine and did a calculation, well out it this way I had to pick up my jaw from the floor.

As I'm selling my car, looking to get one three years older to avoid being killed



Need you're advice though

Would it be wise to sell my ( 62Reg E93 ) with 16,000 miles to get something three years older ?????



The depreciation is just

[AzRiz]

Most people do seem as if they're buying them as an investment and care a lot about how much money they will see returned on resale.

I personally don't give a shit about depreciation, I buy cars to drive and enjoy - not as an investment. Having said that, the most expensive car I've purchased thus far was £19k so maybe I'd change my mind a little if it were more expensive like 30k+

[mikeouk]

Originally Posted by Kassim786

As title states ? ... I actually purchased mine and did a calculation, well out it this way I had to pick up my jaw from the floor.

As I'm selling my car, looking to get one three years older to avoid being killed



Need you're advice though

Would it be wise to sell my ( 62Reg E93 ) with 16,000 miles to get something three years older ?????



The depreciation is just

Biggest hit is as soon as you drive your new car out of the showroom, also because you bought a model soon to be discontinued ,that's made it worse.
Personally ,I'd just keep your car and forget the depreciation ,what ever you buy will loose money, just enjoy it.

[M4rius]

It's never bothers me as buying car It's not an investment for me

[gangzoom]

I think it bothers everyone, but realistically what are you going to do about it?

You can buy new on finance/lease/cash, your still exposed to depreciation one way or another. Even cars 2-3 years old still depreciate a lot , I paid £20K for my 335 when it was 3 years old, its now worth about £10K px, so thats £10K 'lost' over 3 year.

The only way to avoid it is to buy a 15year £500 hack, do all the repairs your self, and your save ££££.

I work on the basis all the money we spend on cars is wasted and never to be seen again, that way when I px it I'm pleasantly surprised that the thing is still worth something As others have said that way I can just enjoy the car and not worry about how much £££ its losing.

[djgandy]

I think you need to calculate the cost of swapping and repairs over time.

If you trade and want cash back I think you will only be getting a little amount for a car 2-3 years older than your current one.

Depreciation is a pretty constant thing. It will be like 50% every 3 years, but you do generally lose a little extra on a new purchase because you are breaking the seal on the wrapper so to speak.

If you buy a 40k car itll be worth 20k, if you buy a 10k car itll be worth 5k. It's the same thing, it's just the nominal values that are different.

[jayakrishnanv]

Keep the present car and enjoy it and use it so it will accumulate mileage and you also will be happy about the usage matching the depreciation...

Other thing to think about is if you are thinking about buying another car which is more than 3yrs old then the pre-LCI will retain lesser value than the LCI so that needs to be counted.

If you are going for a Fx series be it a saloon, coupe or convertible then you are going to buy a bigger value car and then the depreciation will be more as its % of the price you pay

So considering all these you are now in between all in a balanced place and forget about depreciation...from my past experience lower miles wont fetch anything so enjoy the car and use it as its supposed to be and enjoy

[Manoah]

my cars are never an investment, i usually like to get a new car about every three years, however, I've never been SO upside down on a car before bmw. trading it in for a new one is a fantasy. so yes, the depreciation bothers me. a lot. i do love the car though.

[Kassim786]

See with me, hopefully if things go well
I will be getting married soon. ( starting a family ) maybe in a year it two .... Looked at the audi A7 and thought to my self if I get rid of the BMW and then hold out a year I can get into a nice reg A7

If I sell te car the money I get will sit in the bank and will be of the same value next year, where as even if I keep my car As a garage queen its an asset that will depreciate

Damn it !!

[confused.com]

[QUOTE=AzRiz;15601325]Most people do buy them as an investment and care a lot about how much money they will see returned on resale.


I feel sorry for 'most' people if this is truly the case.

[Digitalize]

Not really as I bought my car 7 years old for 16% of it's original value.

[Narcosis]

I buy my cars to drive, and always buy used. Depreciation doesn't bother me as I keep the cars until I tire of them and then find a suitable replacement.

And I disagree with the comment "Most people do buy them as an investment and care a lot about how much money they will see returned on resale." I don't know anyone personally who purchases cars for investment purposes. Perhaps I'm hanging out with the wrong crowd?

[AzRiz]

Originally Posted by confused.com

I feel sorry for 'most' people if this is truly the case.

Originally Posted by Narcosis

I buy my cars to drive, and always buy used. Depreciation doesn't bother me as I keep the cars until I tire of them and then find a suitable replacement.

And I disagree with the comment "Most people do buy them as an investment and care a lot about how much money they will see returned on resale." I don't know anyone personally who purchases cars for investment purposes. Perhaps I'm hanging out with the wrong crowd?

Yeah I guess I'm going on my own experience of talking to various crowds of people over the years.

The amount of times I've heard of non-car-obsessed people say cringeworthy things along the lines of "I really want to get car 'X' but I've heard it has massive depreciation so I'm going to buy car 'Y' instead." And in response, I'm thinking "damn, so you're not buying something you want because it might lose you more money in depreciation over a car that you don't want? Ouch, good luck with that..."

I'm happy to spend money on what I want. I agree with the post further up about "I don't anticipate how much money I get on resale, I'm happy to write off all money I ever spend on a car and never expect it back, resale money is a nice bonus". I've had conversations with dozens of people who think I'm nuts for it. I think the same about them

[Kerr]

I do take depreciation into account.

It is nice to own nice cars, but you need to work out the real cost and decide if the car justifies it.

[Frobius]

Ha, people buy as an investment?!

This May cone as a surprise then, but cars are generally an utterly shit investment!

[Cero ceto]

Never buy new. I have had over 30 cars and always and I mean always purchase low mileage cars with high spec and approx 2 years old. My current car a very high spec 330d M sport Was just 2 years old with 13k miles and cost me £21000. It was over £42000 new! only a mug buys a new car in my mind even if they are wealthy!

[simm31]

Cars are costs houses are investments.

Do not buy new.

Drive, enjoy and forget, all cars lose money.

[TheMorphiuz]

Never had a car that could depreciate before (all < £1k or of a type/age that has stable value) so it's not something I even considered when I started looking.
I just looked at the day-to-day cost of paying for it and running, that's it.

[90MSP]

Worst depreciation bite I took was after I bought a Rover 200 Vi for £10,500. Rover as a company went 'pop' and when sold the car four years later I got £1000 for it.

Now I consider depreciation carefully on my purchases !

[Danny.B.]

When i first start driving i turned a "profit" on every car i brought!

And then i started going more main stream, none special edition cars and the money is lost right away, but thats life!

[wolly440]

I've always followed some sound advice. Your better off buying a low spec premium car, that a high spec budget car. The premium car well be worth more in the long run. The longer you keep a car for the more cost effective it becomes

[Reece]

It horrified me when i went into mercedes to find out about the cla, cost with extras was £35k after 3 years they gauranteed £15k, i walked straight out after that.

Most ive lost on a car was £900 ive made on a few, my last car was a touareg paid £13k and sold a year later with needing £475 road tax and 4 new tyres for £12.5k.

I paid £11.5k for my bmw and its probably worth £10-10.5k now nearly 2 years later which i dont think is tok bad at all.

I pay cash for my cars though so to me loosing a grand a year is not too bad.

If you lease or finance a car the depreciation shouldnt really matter as after 3 you will be chucking it back at them, and gettin a new model, so your monthly payments pretty much stay the same.