Buying a £20k car, sell in 2 years, just pay off depreciation

bigjl

MARKMAKAVELI wrote: »

Yeah so I'm sober now and see the massive holes in my idea!

Stay tuned for more gibberish from yours truly!

The only reliable way to have almost depreciation free motoring is to have a big lump of cash and go to an Auction.

Make sure you know what the car you are bidding on is actually worth and off you go.

If you are a low mileage driver you could buy a slightly above average miles car so that in 2 yrs the mileage is now average rather than above average.

I have done it a few times but over the years, with several of the wife's cars and a couple of mine.

I lost just over £1500 in 3 yrs on a Mondeo, could have got £750 more if I hadn't sold it to a mate.

And I lost £2500 (ish) on my V50 over just short of 3yrs, though I could have got another £1000 of I had sold it privately rather than to WBAC.

But as you have realised, doing so when paying retail and funding it with a PCP or HP is extremely unlikely.

forgotmyname

Buy something that needs minor bolt on work and then replace the parts at your leisure and sell with very little loss.

Sometimes you have to wonder why a seller would sell what seem an immaculate car but have a rip in the drivers seat, cheap used replacement would be cheap and make it much easier to sell.