Assume I buy something like a benz or lexus (2001 model) and I and sell it in 2008 or so. Will there be a market for a 7 year old lexus or mercedes benz with 90k miles on it?
Damn lack of an edit function.
M-B enjoys an abnormally high resale price, because people believe (incorrectly) that it is a “better made” car. the reality is quite different: all cars begin to cost serious money once you reach 100K miles. M-B maintainence costs are astronomical, in part because:
-replacement parts are very expensive
-dealer service averages $100.00/hour
You can get a good price on a used M-B (as a seller), but only if:
-you follow the recommended maintainence schedule TO THE LETTER!
-you maintain the body (immediately touch-up scratches, repair minor body damage
-keep the interior SCRUPULOUSLY clean (many owners put floor mats over floor mats.
You best bet is to buy one of the sprt coups or a convertable-they are more likely to keep their value. And buy a car with a popular color (metallic silver, blue, gold, etc.) A shit-brown car woill be ahrd to sell (black likewise). And, don’t “pimp up” the car-gold-plated badges, flashy wheels, etc. are a real turn-off!
Why can’t I pimp it up? I was looking forward to pink furry seat covers and $900 rims. I suppose the racing stripes are nixed too. I won’t even mention the horn that plays smack my bitch up that I was looking into.
I figure If I, or anyone for that matter, buys a 3-4 year old luxury car on ebay for 13k I can resell it in the classifieds or autotrader in another 4 years for maybe 11k. On autotrader 96-98 Benz C230s have an average resale value of $11962 while on ebay you can get a 2001 C230 for $13000 if you shop around. Doing That will make the car affordable and it’d be fun to pretend to be rich.
However maintenance costs and insurance could really make the car unaffordable. This is just brainstorming right now though.
And why is black an unpopular color? Black is the most popular color I have seen for luxury autos.
And resale value is only part of my concern, is there an actual market for 7-8 year old luxury autos?