GASMON wrote:Maddog 78 - Nobody in their right mind (unless they have LOADS of money) buys a new brit (or any other) prestige car - yes, your correct - depreciation is a key factor.
BUT - buy a good used s/hand car, look after it and it may even make you a small profit. TVR's appreciate (no longer made after the new toyboy Russian boy owner f****d up the company. Jag sports cars a good buy these days, though not for everyday use. My next door neighbor has just retired, bought a really nice 10 year old 3 litre Jag saloon for £1200. Fully stamped service book, 80,000 miles on the clock. This was a £30,000 car when new.
In 1982 I bought a 1973 Rover 3.5 litre V8 (yes, the above mentioned engine) for £850. Looked after it - allways garaged, just use it summer weekends. I still have it, never spent too much on it over the years, now worth around £3500 - £4000. Yes, a 1973 BRITISH LEYLAND Rover, complete with lucas (prince of darkness !!) electrics.
Big new cars are a waste of money, buy a small new one or big old 'un.
Like others say, all cars will be redundant sometime soon.
Yes, good point.
I don't really want to tinker with old cars at this point in my life but I did follow a strategy to be able to drive a nice car without losing too much on depreciation.
I bought my 911 2 years old in the U.S. and then brokered it in myself to Canada.
Because car prices are higher in Canada, this strategy meant that I have driven the car for 3 years now and probably only have lost 10K in depreciation. Much, much better than if I would have bought a brand new one in Canada.
I would be down about 40-45K if I'd have done that.