Exotic cars
January 24th, 2008 by KenricMy friend had purchased a new car for $50,000 in 2001. Last week he sold it and got $11,000 for it. In the 7 years he’s had the car it depreciated $39,000. We were talking about expensive and exotic cars and I was saying that you don’t really spend $100,000 on that type of car. While it’s true that you have spent $100,000 out of pocket, its unreasonable to believe that that car will be worth anywhere close to $11,000 in 7 years. I purchased my 1993 Acura NSX for about $39,000 in 1998. If I still had it today, I believe that it could be sold for $28,000. In 10 years, this vehicle depreciated $11,000.
I just have a different view when it comes to high end cars vs. exotic cars. I really feel that purchasing a used exotic is a much better value than purchasing a brand new sedan.
Just a quick example, a 2001 Aston Martin DB7 is about $55,000 and a 2008 BMW 335 is about $50,000. In 2013, I wonder which car would be worth more.
Posted in General | 
Stumble it!
Speedvision was showing auto auctions and you can see old muscle cars going for 100K!! I agree with you on it that one should really think about what they buy, because it may not hold value.
By Shawn on Jan 24, 2008