Quote:
Originally Posted by tbuck
I think you are correct. I looked for a solid 3 months and was kinda tracking how much was being asked for the cars I would want (have no idea how much they may have actually sold for). I ruled out overly modded cars and anything over about 50k miles. Just during that time I watched lower mileage cars go up around $2-3k asking, from both dealers and private party. In the end I was left to decide if I wanted to wait for the "perfect" car even if it cost more the longer I waited, or to "settle" to some degree for a less than ideal car but get it now before the prices continued the upward trend. In the end I settled on only the interior color. Clearly the trend is upward even for higher mileage cars, but the lower ones, say <30k, are going nuts. Add a hard-to-find color or option/model and the prices are truely crazy. I would say we definitely passed the bottom of the depreciation curve on these cars.
|
It makes me feel better about owning the car, thats for certain. Its nice to know something can be owned and enjoyed but also act as money in the bank if needs be.
Then again, if the thing is so valuable that I'm compelled to sell it, it'll cost far too much to replace if I decide to do that. I want to replace my long gone E46 M3 and E36 M3 coupe, but I'd rather not pay new MSRP for a car with 50k on it, and I sure as hell don't want a 150k car that needs everything done.
I think the bottom of the curve for the low mile cars was around $34k-35k. I paid slightly more than that and my car was just over 19,000 miles.