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Depreciation in Uk

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Old 11-02-2005 | 04:53 PM
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Default Depreciation in Uk

All

I have handed the keys back to my 54 plate Crossfire with only 7,500 miles on the clock because of crippling prices in the Uk. A dealer called Listers brought it off me. I picked the cheque up and bought a BMW 330CI Convertible Sport which is no where near as quick or exciting to drive as the xfire. Nor does it get the attention and very mildly quick at best of times. I miss the xfire greatly but sadly the depreciation started to worry me. I will buy one again when its a few years old and depreciation has stabilized. Got to say this was one of the best cars I ever owned.
 
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Old 11-02-2005 | 07:17 PM
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Default Re: Depreciation in Uk

Uh. If it was one of the best cars you owned why did you get rid of it?
I newer thought of a new car as an investment, aren't they all worth less than you paid as soon as you drive it off the lot?
If you were only planning on keeping it a few years, why not lease?
I bought a $3,000 computer that I could possible sell for $800 now but it servers me well.
Now you can but one with the same specs for $1,600. I'll sell it when it no longer is of use to me. then of course it will only be worth about $300 but at least I got my use out of it.
 
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Old 11-02-2005 | 09:39 PM
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Default Re: Depreciation in Uk

Oh I thought that where investments that increased in value the more mileage they got. No really somebody took a hit on the car, probably not the people who bought it. Show us the numbers that you used to decide to sell the car and buy a ***. Are you aloud to say that brand here? Just kidding, perhaps I really am a mushroom and don't know anything. Mushroom you say... yes they keep me in the dark and feed me s***.

Ira
 
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Old 11-03-2005 | 05:15 AM
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Default Re: Depreciation in Uk

Stryfox, looks like you have not read properly, you ask why did I sell the car? clearly states in my thread was because of depreciation I brought my xfire here in the Uk for £27k brand new I sold it after 12 months to a dealer for £17k only being 12 months old and having 7k miles on the clock, yes I lost 10k in 12 months, yes I would have leased if I knew the prices were going to drop so much but having owned the vehicle already it was too late. When I handed the keys back the dealer told me because Chrysler reduced the price of a new xfire all other xfires especially used took a big hit. I have always brought cars brand new but never lost 10k in a year, the figures speak for themselves... need I say.
 
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Old 11-03-2005 | 08:05 AM
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Default Re: Depreciation in Uk

The problem was you paid too much money in the first place. 13 months ago I bought my brand new crossfire for £21,0000.

JB
 
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Old 11-03-2005 | 08:41 AM
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Default Re: Depreciation in Uk

Yeah, I probably did at the time, only 4 weeks later Chrysler reduced the prices. Seen a brand new one the other day 55 reg for £21995 coupe. But hey no point crying over spilt milk.
 
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Old 11-03-2005 | 09:53 AM
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Default Re: Depreciation in Uk

Mine's an '04 plate so you bought yours after mine. That price was unofficially dropped when they brought out the roadster.
 
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Old 11-03-2005 | 10:22 AM
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Default Re: Depreciation in Uk

Isn't selling a car BECAUSE it depreciated so much kind of like "buying high, selling low"? You've already taken the hit financially, and if it had already depreciated so much, I would think you'd be more likely to hold onto it and enjoy it. But instead you bought ANOTHER new car, which will also depreciate a lot in its first year (all cars do), and you don't even enjoy it as much!

Just seems like very odd logic to me...
 
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Old 11-03-2005 | 10:27 AM
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Default Re: Depreciation in Uk

If you ever buy a new car again, I suggest you use this website first.

http://www.motormouse.net/search_mak...odel=Crossfire
 
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Old 11-06-2005 | 09:51 PM
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Cool Re: Depreciation in Uk

Originally Posted by luvxfire
Stryfox, looks like you have not read properly, you ask why did I sell the car? clearly states in my thread was because of depreciation I brought my xfire here in the Uk for £27k brand new I sold it after 12 months to a dealer for £17k only being 12 months old and having 7k miles on the clock, yes I lost 10k in 12 months, yes I would have leased if I knew the prices were going to drop so much but having owned the vehicle already it was too late. When I handed the keys back the dealer told me because Chrysler reduced the price of a new xfire all other xfires especially used took a big hit. I have always brought cars brand new but never lost 10k in a year, the figures speak for themselves... need I say.
Buy high and sell low; I'm glad you're not investing my money.
If you liked the car, why wouldn't you keep it and enjoy it. It would only be a paper loss but now that you sold it, you have lost big time.
It sure is a weird way of thinking.
 
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