Quote:
Originally Posted by SSW
Perhaps for new cars but the used car market is alive and well.
Personally, I just bought a 2000 Porsche 911 Carerra 4 Cabriolet for just $15k (plus tax/license, of course.) Been looking for a 911 cabriolet to buy for years but never found the "right" one, either because the price was too high and/or the condition was too low. I considered this one a "steal" and bought it on the spot. You can see a pic of it in my "garage."
NADA value in my area is between $18-20k retail. The low price was a red flag but there is nothing obviously wrong w/the car. The IMS was taken care of and the car is otherwise in excellent shape physically and mechanically, as far as I can see, but I'm aware that (like the 335i) it could become a huge $ pit if/when things go wrong and I'm ready to cut it loose in an instant if it does.
In the meantime, I also still have my 2002 MR2 Spyder which has NEVER required a single repair in the 15 years that I've owned it; just oil changes, a couple of batteries and a few miscellaneous parts is all that I've had to spend $ on for it. I have no plans to sell the MR2 as long as I have a place to park/store it, which I do.
The original sticker price of the Porsche was about $80k in 2000, which in inflation adjusted dollars would make it worth about $120k new today. Also bought my 2008 335i for $16k (5 years ago) and my 2012 MB ML350 for $20k (2 years ago) in excellent condition for below prevailing "book" value at the time and both of them are still running strong.
So, IMO, the best automotive deals are in the used car market. Nothing "new" about that but I think it is particularly relevant now.
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The best value in existance is a 2-3 year old car with up to 25k miles and warranty...