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Depreciation
Quote:
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Originally Posted by MNBoxster
Hi,
In 30 years buying and selling Sports Cars, I've never bought new (though I almost always could have). I've usually bought a 2-3 year old model in as new condition and mileage, and drove a hard bargain on the Purchase price.
Over some 30+ cars, averaging 2-5 years ownership, I have always sold them for more than I paid.
The key is to buy smart - keep your objectivity in the forefront and your emotions in the rear. If you can't make the deal on the car in front of you, rest assured that there's another one just like it, just around the corner. Do your math and stick to it.
I bought my '99 Boxster 2 yrs. ago with 17k on the odo for $17k (asking $24). Given the fast depreciation, this may be the first car I actually lose money on. Whatever.
The key is not how much it holds it's value, but rather, how much under the current value that you can acquire it for...
Happy Motoring!... Jim'99
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You make very good points...I don't always have the patience I should but my good friend does. He was looking for a used '05 Infiniti FX that were going for $40K at the time. He searched for about 6 months and got exactly what he was looking for $31K. He is ready to sell and he'll probably get $30K.
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'08 987S, 6 Speed, Guards Red, Black Interior, 19" Chrome Wheels, Clear Bra, Painted Side Vents, Dension Ipod, Clear Side Markers, Cayman Sports Tip, Red Tail Lights
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