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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


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#57 of 411
Re: seat comfort... [fintail] (Mr_Shiftright) [hpmctorque] by fintail
Jan 03, 2009 (12:35 pm)
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Replying to: hpmctorque (Jan 02, 2009 9:53 pm)

I think there will always be enough posers out there to snap up high maintenance barges when they hit the market. There are always fools around who know the average dope on the street can't tell a 2001 lux boat from a new one, so it becomes time to put on appearances.
 
People will realize the marginal increase in comforts as car prices shoot up isn't worth what you pay. For 35K you can get something pretty excellent, no need to spend 70K, especially if you've lost 40% of your retirement and 25% of your other equity.
#58 of 411
Re: seat comfort... [fintail] by Mr_Shiftright HOST
Jan 03, 2009 (12:35 pm)
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Replying to: fintail (Jan 03, 2009 12:23 pm)

oops! Looks like the author deleted it. What was it?
#59 of 411
Re: seat comfort... [Mr_Shiftright] by fintail
Jan 03, 2009 (12:36 pm)
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Replying to: Mr_Shiftright (Jan 03, 2009 12:35 pm)

Geez what are the odds...I found it like 15 minutes ago.
 
01 S600, clean, 60K miles, clean history etc....17.9K (I think)
 
EDIT:
 
Relisted at a lower price
#60 of 411
Re: seat comfort... [fintail] by Mr_Shiftright HOST
Jan 03, 2009 (12:59 pm)
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Replying to: fintail (Jan 03, 2009 12:36 pm)

He's gonna have to drop to around $12K I fear...maybe $13,5K if he's lucky.
 
That "trade in" price is pure fantasy. I doubt a dealer would give him half that.
#61 of 411
Re: seat comfort... [Mr_Shiftright] by fintail
Jan 03, 2009 (1:12 pm)
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Replying to: Mr_Shiftright (Jan 03, 2009 12:59 pm)

That car probably cost around 130K when new....so a wholesale/residual of maybe 10% after 8 years and 60K miles...well, it was made during the peak of the Daimler-Chrysler days
#62 of 411
Re: seat comfort... [fintail] by Mr_Shiftright HOST
Jan 03, 2009 (2:32 pm)
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Replying to: fintail (Jan 03, 2009 1:12 pm)

brutal depreciation, yes. In Wall St. terms, they call that kind of hit--- "whiplash".
#63 of 411
Re: seat comfort... [fintail] by hpmctorque
Jan 03, 2009 (8:21 pm)
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"People will realize the marginal increase in comforts as car prices shoot up isn't worth what you pay. For 35K you can get something pretty excellent, no need to spend 70K, especially if you've lost 40% of your retirement and 25% of your other equity."
 
I agree with you completely, fintail. When we trade my wife's TL, it won't be for another TL, but, more likely, for a Mazda 6, Accord, or Fusion type car. The reason is that the '09 TL or Lexus ES just don't inspire us. We might consider a C-Class Mercedes, BMW 3-Series or Cadillac CTS, but only if the driving dynamics and other attributes justify the additional cost compared with the more popular priced cars I mentioned earlier. Prestige isn't a consideration for us, so the more expensive cars would have to win on their merits rather than their cache'. Another option would be a 2-4 year old E-Class.
#64 of 411
Oh, there are PLENTY... by lemko
Jan 04, 2009 (8:18 am)
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...of BHPH lots in lower NE Philly full of out-of-warranty luxury cars and a huge market for them. A 2001 S600 is the darling of up and coming Russian mobsters in Somerton!
 
"Mmmm, Yuri! Luff your 'Sedes-Bainz Seeks-Hun-dret! More ree-laible thain Moskvich heem Sergei haff baik in Odessa!"
#65 of 411
Re: seat comfort... [hpmctorque] by fintail
Jan 04, 2009 (10:10 am)
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Replying to: hpmctorque (Jan 03, 2009 8:21 pm)

As long as you have a warranty, you should be OK. Actually that middle depreciation period seems to be reasonable on highline cars - it's the first 2-3 years where they really take a bath. Then they are steady for a bit, then they plunge again, usually because of a platform change. I am sure the only thing keeping my car worth more than a dime is the AMG badging.
#66 of 411
Re: seat comfort... [fintail] by Mr_Shiftright HOST
Jan 04, 2009 (10:50 am)
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Replying to: fintail (Jan 04, 2009 10:10 am)

Once these cars roll over 100K and are out of warranty as well, then they are sinkholes financially.

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