You are here: Forums Classic Cars Buying Luxury used 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

What is this discussion about? Classic Cars, Coupe, Convertible, Truck, Sedan, Wagon

Messages Page 19 of 42 1 ... 16 17 18 19 20 21 22 ... 42 Prev Next Last

Go To Msg # Search This Discussion

#180 of 411 Barrett-Jackson by merckx Jan 15, 2009 (7:27 am)
Speaking of old luxury cars not being worth much, I saw a really pretty 58(?) Bently S2...The silver paint looked realy nice...It went for the low $20s.......I know it's said that people are rightly afraid of these cars,that almost any repair is hideously expensive...But it sure was a pretty car....The Isetta for $41,000 seemed a bit dear...as amusing as it seemed..... Replies to this message: Mr_Shiftright (Jan 15, 2009 9:21 am)
#181 of 411 Re: Barrett-Jackson [merckx] by Mr_Shiftright HOST Jan 15, 2009 (9:21 am)
Replying to: merckx (Jan 15, 2009 7:27 am) Oh yeah that was probably the S2 "standard steel saloon", from about 1960. This is not a coachwork car, but just a factory "bread and butter" output. I'm surprised it even go into the low $20Ks. That's a lot for such a car. More like $15K should buy you a pretty decent one of these.   As you say, Elephanto Blanco. Those who know don't want one, those who don't know, buy one and then don't want one.   I suppose you could buy it and just sit in it and not drive it. That might be fun.
#182 of 411 . by fintail Jan 16, 2009 (6:41 pm)
Reading through a local used car rag, I can see this economy is destroying the residuals in this already weak segment. Examples: 06 E55 - 37K, $35K , 06 M5 - 48K, $39K, 08 STS-V - mileage unknown - $38K. Ouch.
#183 of 411 Re: #182 of 182 (fintail) by hpmctorque Jan 17, 2009 (12:17 am)
I think the logical reason for the steep deterioration of residual values on luxury cars in general, and particularly on the highest performance luxury cars, is that in difficult economic times the value assigned to practicality increases versus the premium paid for non essential attributes. This is reflected in the fact that the Accords and Camrys of the world depreciate relatively less than the examples you cited. Also, fewer people are able to or choose to pay for the maintenance required for luxury cars.   The upshot is that it's a great time to be in the market for a luxury car, and an awful time to be selling one. Replies to this message: fintail (Jan 17, 2009 8:35 am)
#184 of 411 Re: #182 of 182 (fintail) [hpmctorque] by fintail Jan 17, 2009 (8:35 am)
Replying to: hpmctorque (Jan 17, 2009 12:17 am) I look at those things, and I think "I could afford that" (if I wanted to be careless with my money), but better judgment makes me look away. Others must be feeling likewise....I'll keep my slightly older model going, and save that money for when the local housing market bottoms out, and credit unfreezes (if that's ever going to happen). I think the used high end market is going to get worse, as I believe the economy is not near the bottom yet.
#185 of 411 Re: #182 of 182 (fintail) by hpmctorque Jan 17, 2009 (2:51 pm)
Judging by the huge losses reported by Citi and BankAmerica this week, I agree that the economy doesn't appear to have bottomed yet. I'll feel more comfortable when our major banks can stand on their own, without government bailouts. Therefore, like you, it wouldn't surprise me if the used high end used car market weakened further. Replies to this message: fintail (Jan 17, 2009 6:37 pm) circlew (Jan 18, 2009 6:48 am) fintail (Jan 18, 2009 9:07 am)
#186 of 411 Re: #182 of 182 (fintail) [hpmctorque] by fintail Jan 17, 2009 (6:37 pm)
Replying to: hpmctorque (Jan 17, 2009 2:51 pm) I'd hate to be a higher end car dealer right now. I think even the truly wealthy are seeking to keep a lower profile, as they should. Replies to this message: circlew (Jan 18, 2009 6:48 am) fintail (Jan 18, 2009 9:07 am)
#187 of 411 Re: #182 of 182 (fintail) [fintail] by circlew Jan 18, 2009 (6:48 am)
Replying to: fintail (Jan 17, 2009 6:37 pm) Yes, I saw the fear on the face of my sales person who found out I had no plans for an bimmer replacement from that dealer. There were many people shopping on the day I returned the car. Saw traffic at Infinity and Audi also. The Chevy Ford and Chrysler dealers were ghost towns on that recent Saturday.   Regards, OW Replies to this message: fintail (Jan 18, 2009 9:07 am)
#188 of 411 Re: #182 of 182 (fintail) [circlew] by fintail Jan 18, 2009 (9:07 am)
Replying to: circlew (Jan 18, 2009 6:48 am) I have to wonder if maybe the bad economy generates more lookie-loos on car lots too, as I am sure window shopping increases in tough times, as a cheap recreational activity.
#189 of 411 . by fintail Jan 23, 2009 (8:28 am)
Three years old, 26K miles, 2/3rds of MSRP gone....and a long ways yet to fall.   King of the hill for a W220 anyway.

Messages Page 19 of 42 1 ... 16 17 18 19 20 21 22 ... 42 Prev Next Last

Go To Msg # Search This Discussion

You are here: Forums Classic Cars Buying Luxury used cars