Cars that will go UP in value for a reasonable price

ratrace

kteara wrote: »

Is the 2009 Audi S3 a bad choice? will it go down considerably after 2-4years or will it hold its value pretty well?

A very very nice motor - A mate hired one for a week as we had to go London for a week and his car wasn't very reliable at the time

It really is a fine machine the looks, the drive, the power for a small car just brilliant

as far deprecation goes, yes it will deprecate but not as bad as you think also if you plan to keep it for a while then the deprecation should even out over the years

Audi s3 cost £10,000
own it for about 5 years
It will sell for at least 4,000 (based on the old mk1 s3 prices)
deprecation cost £6,000 / 5 years = £1200 each year
Not bad for a really nice Hot Hatch

Mileage will make a big difference to the future price also

Is the audi s3 your dream car that you was talking about on the other thread a while ago

Richtea78

Look at it another way, buy a car you will enjoy so the depreciation won't hurt as much

kteara

ratrace wrote: »

A very very nice motor - A mate hired one for a week as we had to go London for a week and his car wasn't very reliable at the time

It really is a fine machine the looks, the drive, the power for a small car just brilliant

as far deprecation goes, yes it will deprecate but not as bad as you think also if you plan to keep it for a while then the deprecation should even out over the years

Audi s3 cost £10,000
own it for about 5 years
It will sell for at least 4,000 (based on the old mk1 s3 prices)
deprecation cost £6,000 / 5 years = £1200 each year
Not bad for a really nice Hot Hatch

Mileage will make a big difference to the future price also

Is the audi s3 your dream car that you was talking about on the other thread a while ago

Yes this is my dream realistic car however despite your calculations I am still hesitant as I only have 7k total savings. I will have 10k by March 2015. I would rather invest money to bring me more for the future which could potentially lead me to buy something such as an r8 one day when I'm 35 but I don't know anything about investing.

The s3 is all I think about and it's such an amazing car to be in, to drive around in and to look at. I really don't know what to do. I could have 15k saved by the end of 2015 however the s3 might be a bad purchase at that time because depreciation may be more rapid. What I am missing most is a plan. All the while I have this huge frustration with driving my current car: Mini Cooper and I am purely motivated by owning the Audi s3 as soon as possible without it destroying my financial future.

JustinR1979

You will soon have enough for a nice E39 M5 that will go up in value.

Richtea78

It sounds like you won't be happy in anything less than the Audi so you need to decide how much it matters to you.

If the car will make you that happy and you don't need the money I'd do it, you only live once. However you need to be sure it's really what you want. In the past I'd have the car now I'd rather save the money.

The other thing to factor in is the running costs. An E39 M5 will not depreciate a lot if you buy a good one but it will cost a lot to keep it in top condition. You'll need to have a specialist service history or it won't hold its value. The thing people always discount or ignore on those sort of cars is that it's still a £60k car when it comes to the service costs. You only have to look at half the cars for sale to see people who have scrimped on the maintaince

JustinR1979

Other than rear tyres my M5 was cheap to run really, still diy-able.
The parts are very well engineered and last a long time.
In 2 years I don't think I changed anything that was broken or wore out, just a service and tyres - and thermostat at £100!

Richtea78

Ok, fine, they're obviously all cheap to run then aren't they!

Didn't you say you had to reduce the price lots to get it to sell? Obviously you can scrimp on the running costs but then it's going to hurt come resale time

kteara

Richtea78 wrote: »

It sounds like you won't be happy in anything less than the Audi so you need to decide how much it matters to you.

If the car will make you that happy and you don't need the money I'd do it, you only live once. However you need to be sure it's really what you want. In the past I'd have the car now I'd rather save the money.

The other thing to factor in is the running costs. An E39 M5 will not depreciate a lot if you buy a good one but it will cost a lot to keep it in top condition. You'll need to have a specialist service history or it won't hold its value. The thing people always discount or ignore on those sort of cars is that it's still a £60k car when it comes to the service costs. You only have to look at half the cars for sale to see people who have scrimped on the maintaince

Thanks, I agree it matters a lot to me however if I'm honest. I don't feel ready JUST yet. If my savings come up to 20k I think I would be more comfortable spending that money but then again I might be reluctant due to the hell it takes to go through saving that much.

I guess a more specific and clear question I want to ask is. Would it be better to purchase the car now (within 6 months time) or in 2 years time? in 2017 I will have 20k in the bank. I know its impossible to be accurate but I'm asking for your opinion based on your knowledge.

I'm unsure if the car value will go up or down in 2 years by 2017. I'm unsure if it would be a good choice to buy then due to either an increase in depreciation or reduction. and tbh I dont even know if I would still want it at that time. Being poor really does suck sometimes lol

ratrace

kteara wrote: »

Yes this is my dream realistic car however despite your calculations I am still hesitant as I only have 7k total savings. I will have 10k by March 2015. I would rather invest money to bring me more for the future which could potentially lead me to buy something such as an r8 one day when I'm 35 but I don't know anything about investing.

The s3 is all I think about and it's such an amazing car to be in, to drive around in and to look at. I really don't know what to do. I could have 15k saved by the end of 2015 however the s3 might be a bad purchase at that time because depreciation may be more rapid. What I am missing most is a plan. All the while I have this huge frustration with driving my current car: Mini Cooper and I am purely motivated by owning the Audi s3 as soon as possible without it destroying my financial future.

Audi r8 yep another nice motor you will get that hopefully as your getting older they are coming down in price

You have a dilemma you cant have both, its either you buy the s3 or you put down the 15k on a house and rent it out, so the rent pays the mortgage

personally i am of the opinion that when you are young this is the time you need to invest for your future

there is a way but it involves you being disciplined it quite simple really

save 20k in the next 2 years buy the audi which will have come down in price for about £8000 and then the reaming 12k put down on a house deposit and rent it out to cover the mortgage

that way you have both the audi you always wanted and a house for the future but to do this you need to suppress the temptation of having nice things

JustinR1979

Richtea78 wrote: »

Ok, fine, they're obviously all cheap to run then aren't they!

Didn't you say you had to reduce the price lots to get it to sell? Obviously you can scrimp on the running costs but then it's going to hurt come resale time

Didn't scrimp, first bloke that came to view had had same car, and really wanted mine, ran all the diagnostics etc, drove it loved it - but had arranged to see another. This turned out to be like new so bought that.
Then petrol prices went mental, and had to drop and drop price.
It was a tidy car and not overpriced at time it was put up for sale.


Was yours expensive to run? Maybe you bought a lemon.