Author Topic: 70K+ Depreciation in 4 years...  (Read 3907 times)

Hey It's Me

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70K+ Depreciation in 4 years...
« on: January 04, 2017, 07:55:05 PM »
Jagual XJ Supercharged 2012, apparently sold for 100K back when it came out. According to this review he found this car for 35K.

https://www.youtube.com/watch?v=05yUpaaWMZE

Looking at car gurus though I see a couple of them below 30K, meaning there are guaranteed to be some poor saps out there that are 60-70K underwater on a car this very moment.



SeaEhm

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Re: 70K+ Depreciation in 4 years...
« Reply #1 on: January 04, 2017, 08:41:15 PM »
That is crazy!  I wonder if people sat down and actually looked at cost of ownership for that car before purchasing.

I would pay money to be able to interview 100 purchasers of that car.  Fascinating!

tarheeldan

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Re: 70K+ Depreciation in 4 years...
« Reply #2 on: January 04, 2017, 08:49:12 PM »
Ouch!

gimp

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Re: 70K+ Depreciation in 4 years...
« Reply #3 on: January 04, 2017, 09:39:50 PM »
Doug's videos are mostly pretty good, by the way. He reviews a lot of really oddball things - everything from lamborghinis you had no idea existed, to weird-ass old cars you probably forgot existed.

NoStacheOhio

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Re: 70K+ Depreciation in 4 years...
« Reply #4 on: January 05, 2017, 06:40:47 AM »
That is crazy!  I wonder if people sat down and actually looked at cost of ownership for that car before purchasing.

I would pay money to be able to interview 100 purchasers of that car.  Fascinating!

Nobody who cares about cost of ownership buys a supercharged Jag. Or really any Jag. Nobody.

Hey It's Me

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Re: 70K+ Depreciation in 4 years...
« Reply #5 on: January 05, 2017, 07:23:51 AM »
It blows my mind that anyone is willing to spend that much on a car.

One of my cousins has a $2000/Mon lease on a sports car - and he's in college! Where does a 20 year old go from a sports car? What's the next step - a helicopter??

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Dave1442397

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talltexan

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Re: 70K+ Depreciation in 4 years...
« Reply #7 on: January 05, 2017, 09:44:28 AM »
The co-worker who introduced me to this forum sheepishly admitted she had bought an MR-2 with some family savings while she was a college student. She's reformed and awesome now.

JAYSLOL

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Re: 70K+ Depreciation in 4 years...
« Reply #8 on: January 05, 2017, 09:51:07 AM »
The co-worker who introduced me to this forum sheepishly admitted she had bought an MR-2 with some family savings while she was a college student. She's reformed and awesome now.

Not a good use of family savings for a collage student for sure, but an MR-2 is much more reasonable than a Jaguar to buy, would have very slow depreciation, and would be rock-solid reliable compared to a Jag or similarly wasteful car.

Just Joe

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Re: 70K+ Depreciation in 4 years...
« Reply #9 on: January 05, 2017, 09:54:58 AM »
A friend of ours once bought a beautiful Saab 900 (?) convertible for cheap on eBay. The car had 50K on the odometer and needed only a couple minor things. It was only a few years old. The first owner(s) really took a financial beating for that car. It was probably a $30K+ when new. This was 20 years ago.

moof

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Re: 70K+ Depreciation in 4 years...
« Reply #10 on: January 05, 2017, 11:57:46 AM »
I briefly lusted after a used Porsche Cayman.  They lost about 50% in 5 years, and could be found with rather low mileage.  Then I realized with minor research that the car might be cheap, but you'll be paying to maintain a $70k car, which means parts are all 2-3x, labor at the Porsche dealer would be 3-5x, etc.  The sexy mental image quickly soured and i can't see used Porsches, BMW's, and Mercedes as anything beyond giant money pits.

Maybe someday after retirement I will pickup turning wrenches as a hobby, but for now just maintaining my bicycle has been an obnoxious time sink I have taken to outsourcing now and then.

NoStacheOhio

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Re: 70K+ Depreciation in 4 years...
« Reply #11 on: January 05, 2017, 12:10:39 PM »
I briefly lusted after a used Porsche Cayman.  They lost about 50% in 5 years, and could be found with rather low mileage.  Then I realized with minor research that the car might be cheap, but you'll be paying to maintain a $70k car, which means parts are all 2-3x, labor at the Porsche dealer would be 3-5x, etc.  The sexy mental image quickly soured and i can't see used Porsches, BMW's, and Mercedes as anything beyond giant money pits.

Maybe someday after retirement I will pickup turning wrenches as a hobby, but for now just maintaining my bicycle has been an obnoxious time sink I have taken to outsourcing now and then.

There's a sweet spot for used BMWs and Mercs though. For a time, they were still built like tanks, with a lot of the more modern niceties, but less electronic stuff to go wrong.

Just Joe

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Re: 70K+ Depreciation in 4 years...
« Reply #12 on: January 05, 2017, 02:13:42 PM »
I forgot to add that his nice Saab convertible was ~$5K. The depreciation was mind-boggling to me as at the time I assumed it was worth double or triple that amount.

gimp

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Re: 70K+ Depreciation in 4 years...
« Reply #13 on: January 05, 2017, 03:05:10 PM »
I like this one too - $38,000 to maintain a Ferrari F355 for 1,000 miles.

http://thegarage.jalopnik.com/this-ferrari-f335-cost-38-000-to-maintain-over-just-1-1790794624?rev=1483627672106&utm_campaign=socialflow_jalopnik_facebook&utm_source=jalopnik_facebook&utm_medium=socialflow

Come on, man. Yes, an F355 costs a lot to maintain, but it's not $38k/1000 miles, that is a combination of a clickbait bullshit channel and some seriously bad luck. I could pick the week before my car goes into the shop, the week after, and claim that it costs $500 for just a hundred miles, but that's cherry picking.

Ferraris, like most fancy-ass cars, do a lot better when you drive them than when you let them sit. The usual quotes I've seen are around $1-2 per mile for maintenance and repairs; less if you DIY (and don't care about resale - that is, don't do DIY a pristine model, the next buyer is going to be a little bitch about it not being dealer-serviced.)

If you let them sit, they'll break down for no reason and cost you thousands for just a few miles, sure.

So clearly the frugal way to own an F355 is to drive the shit out of it :)

Dave1442397

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Re: 70K+ Depreciation in 4 years...
« Reply #14 on: January 05, 2017, 06:44:57 PM »
I like this one too - $38,000 to maintain a Ferrari F355 for 1,000 miles.

http://thegarage.jalopnik.com/this-ferrari-f335-cost-38-000-to-maintain-over-just-1-1790794624?rev=1483627672106&utm_campaign=socialflow_jalopnik_facebook&utm_source=jalopnik_facebook&utm_medium=socialflow

Come on, man. Yes, an F355 costs a lot to maintain, but it's not $38k/1000 miles, that is a combination of a clickbait bullshit channel and some seriously bad luck. I could pick the week before my car goes into the shop, the week after, and claim that it costs $500 for just a hundred miles, but that's cherry picking.

Ferraris, like most fancy-ass cars, do a lot better when you drive them than when you let them sit. The usual quotes I've seen are around $1-2 per mile for maintenance and repairs; less if you DIY (and don't care about resale - that is, don't do DIY a pristine model, the next buyer is going to be a little bitch about it not being dealer-serviced.)

If you let them sit, they'll break down for no reason and cost you thousands for just a few miles, sure.

So clearly the frugal way to own an F355 is to drive the shit out of it :)

That works for a lot of Ferraris. My friend has owned a 360, a 430, and now a 458. He hasn't had any issues apart from normal maintenance, and no engine-out services are required with these newer cars. The 355, on the other hand, is notorious for pretty much all the issues they talk about, even when driven regularly. Doesn't matter to me, I'm not buying one.

I did get to drive the F360 for a few hours, though. My mouth hurt from smiling the whole time. It had a Tubi exhaust system and a gated shifter, and the noise was just insane.

gimp

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Re: 70K+ Depreciation in 4 years...
« Reply #15 on: January 05, 2017, 07:03:20 PM »
I can't imagine who would get a ferrari without a gated shifter. I still think it's a hell of a pity that the new ones don't come stick (well, unless you're fancy enough to pay well into the six figures to get one custom built.)