How to beat depreciation

[obi_waynne]

ALL cars suffer from depreciation at some point in their life but how can you actually beat depreciation?

What about buying a future classic, watching the price go down and then see it come up again? A 1968 beetle would be a good example of this.

Other people buy a £200 banger every year or so and just run it into the ground.

Some people buy a reasonably nice used car and keep it for 10-20 years where the depreciation really smoothes out and diminishes in the latter part of your ownership.

Do you have any methods for avoiding depreciation?

 

[Aerial Andy944]

Classic motoring for me. Both my 944 and GTR sold for more than they were bought for. Factoring in resto costs I basically had 3 years of free enjoyment in both and only paid for fuel and tax/insurance costs.

 

[herb]

Buying a car around the 10 year old mark in good condition with good service history your not really going to loose to much money on it whether you keep it a year or ten

 

[T9 man]

Classic motoring for me. Both my 944 and GTR sold for more than they were bought for. Factoring in resto costs I basically had 3 years of free enjoyment in both and only paid for fuel and tax/insurance costs.

Some people are just blessed with good fortune

 

[HDi fun]

Buying a car around the 10 year old mark in good condition with good service history your not really going to loose to much money on it whether you keep it a year or ten

Tried that with the (immaculate) 5 series. Sadly was written off by 3rd party and payout was pathetic

 

[herb]

Tried that with the (immaculate) 5 series. Sadly was written off by 3rd party and payout was pathetic

Very unfortunate luck on your part paul!
But I stand by my statement on my last 2 cars I actually mad a little money on what I initially paid out for them. And on the current 75 I can't see me making much of a loss when I decide to get rid!

 

[T9 man]

And on the current 75 I can't see me making much of a loss when I decide to get rid!

Another one; some people are just blessed with good fortune

 

[Aerial Andy944]

Another good thing about classic cars, the insurance has a guaranteed payout so if your car goes up in value so does the payout at market value from insurers.

 

[herb]

Another one; some people are just blessed with good fortune

I'm blessed in many ways Family, Friends, Job and my home but financially I'm never destined to be a wealthy man so I put these few cars down to luck

 

[st24]

Buying a car around the 10 year old mark in good condition with good service history your not really going to loose to much money on it whether you keep it a year or ten

Yes I would agree I have done this for many years and had some great cars which have been run for around 3 years.
I took a step up with my currant car which cost 7k at 5 years old I hope to run it for 5 years and not thinking
so far ahead to what it will be worth then.

 

[old-git]

Another good thing about classic cars, the insurance has a guaranteed payout so if your car goes up in value so does the payout at market value from insurers.

As long as you remember to keep pace with the value when you renew Or are there policies that pay market value regardless of value quoted at time of buying policy?

 

[Aerial Andy944]

I renewed my guaranteed value each year with signed valuation inspection from the appropriate club. The 944 was a nice rise and wish I'd kept it as it would be worth even more now, DOH!

 

[SLEEPER]

buy an older car with service history if possible , rare is good too , and anything with a story better still.

And keep it standard as stock cars are worth more as the car gets older

Thats for road cars , anything with race history is an exceptiojn.