Hi Everyone,
Thought I would start one up on here because new/used cars on the market are at a high.
I look at cars that I sold 2 or 3 years ago and thought what a time it would have been to sell now. So I'm seeing what automotive purchases people have made through the years that they have taken a big hit on. Either new used or modified etc. I know I have had my fair share though the last 3 years both new and used mostly euros but seeing what everyone else has done.
Don't think Benz depreciates that much mate. I had 2016 A45, bought in 2016 for 71k, sold in Feb this year for 46k. 25k over almost 5 years isn't bad.
If you'd bought a 4WD Toyota it would have gone up in value $25k
/s
You joke but if it was a classic 40 series it just might have!
If you took away the Covid tax, would be more than 25k.
It cost a bit more than $71K normally, too.
Got a 2016 Toyota Corolla for 22.5
sold this year for $18k.
$4.5k over 5 years not bad.
BMW was my biggest loss. I was already upside down on the loan. At the time I had to pay off a massive debt (stupid decisions) so had to sell the car.
Loan was $80k, car sold for $45k.
I got the PPSR removed before paying the balance (I don’t know how I pulled this off) and then used a credit mediator to reduce the balance to principle only. So I had to pay something like $14k instead of $35k to Macquarie.
And now never going to buy a brand new car again or even get a loan for one. Either pay cash or use car subscription.
Cars cost money in depreciation. Simple. Less depreciation when they are old. appreciation when they become collectable.
I'm still waiting for my Prius C to become a collectible :(
Check out the 2019 Lexus LS saloons, for around $120k, it was worth double that two years that on the showroom floor.
It's such a massive car, heavy as fk, lacks grunt unless you get the turbocharged version and the technology isn't as flashy as the Euros.
It's also very expensive to maintain for a Japanese luxury car so I'd be paranoid taking it to carparks and shopping places.
But I much prefer this interior compared to a Benz or BMW or Audi
https://www.carsales.com.au/editorial/details/lexus-ls-500-2…
The people who can afford these cars new would not buy them secondhand
I agree. Better to buy it brand new then toss it after warranty goes, even if it's a Lexus.
Highest depreciation cars in terms of % and absolute $ are generally high end luxury sedans that captains of industry buy new but few normal people wish to own secondhand.
They generally start with S, 7 or A8.
The people who can afford these cars new would not buy them secondhand. Secondhand value plummets because why would you buy a 3yo used S class/7 series/A8 when for similar money you could buy a brand new E/5/A6 with full warranty? Add to that all the technology in the top models that can go wrong, they are a nightmare to own out of warranty, so the cycle of falling depreciation continues. Basically no one wants them after a few years.
On the other hand, a 911 Porsche for similar money new….
There's nothing more expensive than a cheap Mercedes (replace Mercedes with BMW, Audi, Panamera, Quattroporte etc).
I know I have had my fair share though the last 3 years
Why don't you start by sharing yours?
the first page would be benz vs bmw