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Classic Cars Buying Luxury used cars
411 messages, Last post on Jul 13, 2009 at 10:22 AM
You are in the Classic Cars Forum. Your Host is mr_shiftright
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Replying to: gmpatriot (Jan 07, 2009 4:15 pm) We in the "Classics" Forum are trying, in this particular forum topic, to focus on the problems and pitfalls of buying older, used luxury cars. You might want to scan the list of topics in "Automotive News" forum, many of which deal with the very issues you are bringing up. I pulled it up for you: List Containing Topics on the State of the American Automotive Industry thanks! MrShiftright Host |
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A friend at work just sold his BMW 740. It was around a 2000 model with 130K on the clock. I asked him a year ago about it, and he had nothing but good things to say about it. I noticed him driving a Honda Pilot yesterday and he explained that he sold the BMW because his new car payment was roughly equivalent to the average monthly maintenance and repairs on the Bimmer. No surprise, I suppose.
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Replying to: lemmer (Jan 08, 2009 6:36 am) Ouch! A friend gave me the same reason for selling his almost-new Jaguar 20 years ago, except he was referring to the car payment on the Jaguar. 
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Replying to: lemmer (Jan 08, 2009 6:36 am) One of my friends bought a used 2002 or so BMW 5-series, as a 40th birthday present to himself back in 2007. I think it only had around 25-30,000 miles on it. Almost immediately, I think he had to sink a couple grand into it. I forget what exactly the issues were, but one of them was water leaking into the interior! I've ridden in it a few times. Nice car. I can definitely see the appeal of them. I especially like the way that it somehow manages to give you good road feel, yet a smooth ride at the same time. Usually a car will give you one at the expense of the other. And some cars aren't very good at either!
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Replying to: andre1969 (Jan 08, 2009 6:55 am) He still keeps the car out back though, he loves it so much.
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Replying to: Mr_Shiftright (Jan 08, 2009 8:37 am) Wow, that's a crazy amount of money to blow on maintenance/repairs over the first 10 years of a car's life! FWIW, my Intrepid has run me about $30K over the course of the 9 years I've had it. But then that total includes the purchase cost of the car! What would that 750i have cost new? About $80-90K? Too blue for my blood but hey, if you can afford it, why not?
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Replying to: andre1969 (Jan 08, 2009 9:26 am) Today it is worth less than $10K so if you include depreciation, the car has cost perhaps $100,000 in ten years for 100K miles, so about $1 a mile. That's about par for high end cars. A Ferrari would cost easily $1.50 a mile to drive if not more. |
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Replying to: gmpatriot (Jan 07, 2009 4:15 pm) |
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...a very high-mileage 1986 Mercedes 420SEL for only $1,500. I'm pretty sure it would've financially killed me as I'd have poured a lot of money into it just to meet my standards as a beater car.
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Replying to: lemko (Jan 08, 2009 1:44 pm) I hope someone gives you a free 1956 Cadillac that needs 'just a little work'. If I'm really mad, I change it to Jaguar! 
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