Quote:
Originally Posted by singularity
I meant that many of us, enthusiasts, who are on this forum love and take care of this car much more than others who buy it casually or for status. As such we are more vulnerable to thinking "my car is outdated" when LCI is released and we are more likely to sell our already great cars and buy LCI. I was very close to selling my car and buying LCI too, until I was offered $80k for my $210k car that I bought 1.5 year ago with 14000 km mileage.
Price of a used M5 now is about 120k, that's almost 50% off ($110k loss) on a slightly used car. Whereas if I sell my car next year (when used LCI M5s are around for the same 120k) the price of my pre-LCI car would probably be 100k. I'm not familiar with what a lease is and how it works, my example is about buying/selling.
Simple math
New M5 in 2012 was $210k. In 2013 that car was offered $120k by BMW trade-in. If I agree to that trade I lose $110k in 1 year, almost 50% off my perfectly new and well taken care of car's value. Then I would have to put that $110k + 110k for a competition package LCI M5. In 2014 my car would again be around $130k. That's almost $200k lost in 2 years because I bought 2 new cars.
I relocated and bought another M5, this time Monte Carlo blue, because that's how good this car's value is and how much I love it. Now I'm planning to keep the car until 2014 (when used LCI's appear) and I will sell my car and add some 20-30k and buy a used LCI with competition package. That way I would've lost much less.
Simple math that shouldn't be necessary and my whole point. If someone doesn't care about those large sums of money lost then my examples aren't for them, to each his own. I for one stopped being a victim of buying latest and greatest and decided to go for used ones when the time comes. These cars aren't iPhone 5/5S, but their updates and value losses seem to be proportional to handheld devices, which again for some people buying a car is similar to others buying an iPhone.
Depending on countries and taxes, right now options are: a) buy new M5 for 200k b) wait 1 year to buy it for 120k with competition package. The value loss during the first year is huge, I still don't fully understand why. Maybe because people who buy these cars prefer to buy them new, disrgarding almost the double price. At the end of the day it's your money and your car, to each his own.
|
Whew! THAT is a monstrous loss! Not nearly as bad here. I am legitimately losing $17K on my trade vs what I paid for it 6 mos ago (will be 8 mos by the time I actually trade). Like i said though, my money is really lost on the mods moreso than the depreciation. Also, I got a very special deal on the M6 so that made it worth it for me. I do admit that I get caught up in the latest and greatest and it is NOT a wise move financially, however, my cars are my thing...wife gets everything else...Only 2 places I get peace are mountain biking and driving my cars...I look at it as expensive therapy.
