Have you ever seen a car that seemed absurdly pricey when it first came out and then a few years later you see it being sold for a lot less as a used car? That’s the result of depreciation.
Most cars predictably depreciate at fairly consistent rates. There are a few special cars, however, that have unexpectedly increased in value since being introduced and are now sold for a much higher amount.
Today we’re going to look at some cars that have appreciated or depreciated considerably in the past few years.
Let’s start with a car from the famous German car maker, Porsche. Back in 2004, Porsche established an absolutely incredible supercar called the Carrera GT. It was a breathtaking two seat supercar with an F1 type V10 engine in it! The original price of this car was an extraordinary $440,000 but due to the limited number made, the Carrera GT at once turned into a highly sought-after car. What did that do to the resale value? It skyrocketed!
Check used automobile sales of the Carrera GT and you’ll be lucky if you locate one for less than $600,000. That’s $150,000 over the original list price!
Not all autos maintain their value like the Carrera GT. Unfortunately, most cars drop in value after they're driven off the lot, especially premium luxury sedans. The BMW 7 series and Mercedes-Benz S Class sedans are two of the most exclusive cars out on the road. But their resale values are not. Particularly in 2012, the 7 series had an average list price of $103,000 and the S Class was even higher at $121,000. Look at prices of the 2012 7 Series now and you’ll be able to find used models around $30,000. Do the same for the 2012 S class and you’ll be able to find that car in the $40,000 price range. Great for buyers, bad for sellers.
We’ll end on another vehicle that has appreciated greatly. McLaren hasn’t been making production cars for very long and they don't make a lot, but when they do, they are impressive! They’ve compelled people to notice their cars because of their sporty styling and near-perfect driving dynamics. The McLaren 675LT was their limited production upgrade to their 650S and it got everyone wanting one. Like the Carrera GT, this want factor pushed up the price of the 675LT even though it cost a fortune initially.
The price of the 675LT averaged $345,000 but now you can find the 675LT on sale with prices up to $500,000.
As we know, most autos will shrink in value once they’re driven off the lot, but if you’re able to study the market, you can find a car that won’t depreciate too much. And if you’re lucky enough to be able to purchase a limited production auto, it could turn into a profitable investment!
Whether you drive a Mercedes, Porsche, or Honda, it's always a wise idea to keep up on your scheduled maintenance.
Let I-86 Truck & Auto Repair help you safeguard your investment by delivering the highest level of automotive service in the Jamestown area.