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5 years and 50k resale values.... Posted by Mike Lynch [Email]  (#81) [Profile/Gallery]
(more from Mike Lynch) on Sat, 22 May 2004 13:06:14
In Reply to: Resale Value, Bob, Fri, 21 May 2004 20:25:59 Members do not see ads below this line. - Help Keep This Site Online - Signup |
A 99 9-5 was around $30k and a 2004 9-5 Arc can still be had in that price range or less or the killer deal on a new 220hp 9-5 right now is the 24 month lease at only $329, Saab has held the line on price and incentives, so your number of $12-14 is pretty typical of any average resale car.
As a Saab and BMW dealer we have a nice 99 528I with 56k for $19,800. That car probably went for around $10k more than the Saab that year, worth $6-8k more now. Seems to me to be greater dollar depreciation for what one would, on the surface, assume is a similar car with better resale.
The BMW sold for closer to sticker and retains a greater percentage of it's original list price. The Saab probably sold with a healthy incentive, but the percentage from actual selling price is pretty close. And in total dollars the BMW depreciated more!
So as my buddy Geoff points out, practically no car is an investment. Even makes that are supposed to have better than average resale can be a bargain used.
And the final dilemma is that for people who are financing, 20% down and 36 months of financing on a $14k car, is darn close, if not more, than the lease payments on a 2004. Add the advantages of all new tires, brakes, factory warranty and free maintenance, selection and so forth and there's a compelling case to be made for a lease on a new, did I mention 220hp, Arc. As your original concern was resale, a lease on a new car eliminates that concern too.
posted by 63.197.222...
, Sat, 22 May 2004 13:06:14 <-- Viewing This Message
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