10-09-2014, 09:25 AM | #1 |
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Depreciation sucks
I'm at the stealership getting service done. I walk to the used section and view a 13 m5 w 14k on the ticker selling for 71k. Man I don't even want to know what mine is worth knowing I have more than double his.
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10-09-2014, 09:55 AM | #4 |
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Yep, 2013's were hit hard with depreciation. We all knew that since about May 2012 though when BMW announced the residuals for leases. Your 2013 M5 will be worth no more than 48% after 3 years from the day you bought it. Just a fact of life. I say just keep it, drive it, and love it for a couple of more years when the depreciation will slow down. I don't think that the depreciation is going to be as bad after 4 or 5 years as it was on the 2006 M5's. We should NOT see a 2013 M5 with an MSRP of $109,000 sell for $30,000 after 5 years like what happened with the E60's. Instead it should be more like around $40,000 after 5 years.
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10-09-2014, 10:24 AM | #5 |
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That's rough. My 2010 Audi S4 with 37,500 miles was traded in for $38.5k after 3.5 years when I got my M5. I saw the Internet ad the next day, sold in a total of two days, with an advertised dealer selling price of $41k. Not sure what the buyer bought it for, but it still commanded over 50% value. That is a really good price for a $62k MSRP car. I know depreciation is worse on more expensive cars, but that really sucks for our cars.
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10-09-2014, 11:52 AM | #6 |
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One thing to bear in mind is that used M5 prices can vary by up to $15k based on options selection. Base M5s with manual transmissions are super cheap. Full leather, Exec, DA, B&O pump up the resale.
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10-09-2014, 12:01 PM | #7 |
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And thats the dealer asking price (71k) so they are into that car for less--- possibly much less.
recent auction sales: 09/09/14 OHIO Factory $72,000 3,500 Above SPACEGRY 8G A Yes 09/09/14 ATLANTA Regular $73,500 6,767 Above Silver 8CY M Yes 09/11/14 RIVRSIDE Lease $70,250 20,137 Avg MOONSTON 8G A Yes 09/18/14 PA Regular $68,500 11,008 Avg WHITE 8G P Yes 09/24/14 MILWAUKE Lease $76,000 4,808 Above BLACK SA 8G A No 09/30/14 ORLANDO Regular $65,400 15,543 Avg BLUE 8GT A Yes 09/30/14 ATLANTA Factory $66,500 5,606 Avg SAKHIR O 8GT A Yes 09/30/14 ATLANTA Factory $65,500 4,455 Avg SPACE GR 8GT A Yes 09/30/14 ATLANTA Factory $61,500 7,289 Below MONTECAR 8GT A No 09/30/14 ARENA IL Regular $73,550 14,999 Above GRAY 8GT A No 10/01/14 ST LOUIS Regular $62,500 32,817 Below GRAY 8G A Yes 10/01/14 FT MYERS Regular $65,000 27,340 Avg WHITE 8G A Yes © 2014 Manheim. All rights reserved.
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10-09-2014, 12:32 PM | #8 |
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When I traded in my '13 with 8,000km and only 10 months old, one dealer offered me 85k an the other dealer finally agreed to 97K. The car stickered 122k new. Pay to play. Problem being there was a 14k discount on brand new cars sitting on the lot.
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10-09-2014, 12:59 PM | #9 | |
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Keep enjoying your car. I'll be (happily) joining the depreciation pool soon.
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10-09-2014, 01:51 PM | #10 |
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I'm not getting rid if this thing anytime soon. As mentioned I'm having too much fun. By the looks of Vic's findings,people all over took a hickie. I agree that the prices vary in the diff regions as in overseas. I will have 40k by Sunday. And I will celebrate this milestone by a smooth power slide around a kwell corner. Tanin. R u in my crew in Houston?
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10-09-2014, 02:32 PM | #11 | |
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10-09-2014, 03:34 PM | #12 | |
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10-09-2014, 08:31 PM | #14 |
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Probably about the same amount as 2012's today - 48% ish. I just did my 2014 with 8500 miles and got this for a CA zip code.
Clean $90,825 Average $88,750 Rough $72,940 2013's in my area are averaging $77k with < 20k miles.
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10-10-2014, 10:49 AM | #15 |
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10-10-2014, 11:10 AM | #16 |
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Maybe some of the older guys can comment from back when the 06/07 e60s were out [I was fresh outta high school and had no knowledge of what cars were going for back then]
But Just looking at e60s that are still in the 40s for a cared for 2009+ its just odd to see 2013's under warranty already cracking the 60s and even into the 50s if you want the lowest cost option. I just feel like they're tanking an unusual amount relative to their predecessors. With that said though given how dirt cheap interest rates are combined with how stupid crazy you can get off MSRP, and lets face it its less desirable of a car this generation and competition is much stronger in lots of aspects. It is a way to explain the drops. I had a harder time getting into [and still they wanted 50% downpayment] a 95k gtr than I did in my 114k M5. Which says a lot especially if you're a grownup with a long history to support you getting such a car. Something I didn't account for prior to buying: Anyone whose gonna spend 80-90k+ on a USED car is either gonna want a SUPER deal. Or they're going to buy their own NEW car and do it how they want... Something that isn't favorable to us who enjoy these 100k+ cars. |
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10-10-2014, 12:11 PM | #17 |
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I had my 2013 for 16 months. I paid $97k for it new (ED invoice) and I sold it for $85k, So that's $12k depreciation over 16 months or $750 per month in depreciation.
I think that's pretty good. But unlike the people whining like a bunch of sissy girls, I did the transaction in a smart way both at the front end and the back end.
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10-10-2014, 12:16 PM | #18 | |
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10-10-2014, 12:25 PM | #19 |
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10-10-2014, 01:12 PM | #20 |
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10-10-2014, 01:24 PM | #21 | |
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Anyone who thinks they are buying an M or any highline car to make money or even break even are fooling themselves. How about an AMG and extra large slice of depreciation!!!
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