20% in three years? Show me a car that depreciates at a slower rate.

How much did you expect it to depreciate? Try buying a Camaro and see what happens.

 

So the S takes a 20-25% hit in three years, looks like the 911 is much worse. I'll keep driving my S with a big

Joser
Silver/Red

 

[QUOTE]Originally posted by joser
[B]

So the S takes a 20-25% hit in three years, looks like the 911 is much worse.

 

Also, not many enthusiasts who are going to pay $33k for a new sports car are going to be worried about saving $5k by purchasing a used (possibly abused) one. I bought mine for MSRP 3 months ago, and wouldn't even look at a used one because they were asking in the upper twenties. However, for a $10k difference, I might have....

The used car must be significantly discounted relative to the price of a new one, otherwise, I won't touch it.

 

It is simply the fact that the used car market is almost non-existant right now. You also have to consider that this car is classified as a "performance car." Sometimes that means they keep their value better than other cars and sometimes it means they lose their value as well. Yes it is a Honda which says a great deal as far as build quality is concerned. Then again it has a high reving performance engine and many are skeptical about purchasing it used because they figure its been "ragged out."

I think another factor is the price range of the car. Many people that can afford higher end cars aren't worried so much about buying used because they know that "kids" typically cannot afford them. Like buying a used Porsche or Ferrari for instince. If you buy from someone that has five cars in their garage then you could possibly assume that they love cars and they take care of theirs. It is buying from the younger generation that so many people are worried about.

It is kind of a lose/lose situation. Honda has priced the S2000 where younger, not necessarily wealthy individuals can afford the car which is a big plus for many. But they have also priced it out of the range for most in the 16-20 year old category assuming mommy and daddy didn't buy it for them. I really wouldn't worry about the prices dropping right now. I think when the used car market picks itself back up again then the prices will rise back a bit and stabilize.

 

Honestly Camaro's do not depreciate as bad as many assume they do. The V6 model possibly but not the LS1 equipped models. New you could get an LS1 for about $25k and with 30k miles you could still turn around and sell it for $17-19k depending on its overall condition. I know because I own one. I got an 02 Z28 for $1k below invoice with a hook up from one of my friends. That made the price with TT&L added $23,750. I have put almost 7k miles on it since January and I have a buyer coming to look at it this weekend and he is expecting to pay me $22,000. I am sure some haggeling will take place but you get my point.

What really takes away from their value is major mods like heads and cam, stroker motors and such because you limit yourself to a select buyer at that point. If you want to see some heinous depreciation take a look at the Corvette...especially the Z06. New you are looking at $46-50k. Right now there are two used 2002 models listed in the Houston Chronicle, both under 3,000 miles, and one of the sellers is only asking $41k. Now THAT is a sick hit for 3k miles. Whatever you do, when buying a new car, make sure you absolutely want that car for at least a year or two. If you buy and try and sell three months after buying you are going to really get bent over.