Depreciation on near new car
05-26-2010, 01:08 PM
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Depreciation on near new car
Hi y'all,
I post infrequently, but check in quite often to see what's happening. I like this forum.
Confession. I had a 1980 RX-7 series 1 13B many moons ago, so got the rotary bug, and in early 2008 was all set to buy an RX-8. Well, it didn't come to pass. made an offer on one that was rejected - non-negotiating seems to be the order of the day for many car dealers. Looked at a few others and even started negotiations with a forum member who had the misfortune of being rear ended before anything came to pass.
So I got an Infiniti G35x instead. 2005 model, now with 60k on the clock. Frankly, for my commute, I'm happy with the slushbox.
It's had some issues. "Compression rods" are part of the front suspension on these cars and both mine went, one inside the remaining warranty and one just outside, that I, much to my surprise, got Infiniti to cover. Also both front wheel bearings have gone but are thankfully covered under the longer powertrain warranty - phew.
Of course, being a car nut, when my car was getting the wheel bearing done I had a lookie in the showroom at the new M and the current G. Took a G37xS for a run and nice it was.
i'd like to upgrade to a G37xS - I want it, but don't need it, so I'll only make the jump if I can get a really great deal.
Dealer has a 2 month old car titled and used by a manager - hopefully not too thrashed.
My research has shown folk getting up to $5500 off MSRP on new cars although $4500 is more common.
The msrp on this car is around 42k.
My question is what is a realistic depreciation to apply to this near new car? I figured around 10%. I've offered $20k plus tax title and dealer fee plus my '05 as a trade and valued my '05 at $14k according to NADA. Now I know that's probably generous but I'm not desperate to do this.
Thoughts on buying near new appreciated.
cheers
7 to not 8 (yet)
I post infrequently, but check in quite often to see what's happening. I like this forum.
Confession. I had a 1980 RX-7 series 1 13B many moons ago, so got the rotary bug, and in early 2008 was all set to buy an RX-8. Well, it didn't come to pass. made an offer on one that was rejected - non-negotiating seems to be the order of the day for many car dealers. Looked at a few others and even started negotiations with a forum member who had the misfortune of being rear ended before anything came to pass.
So I got an Infiniti G35x instead. 2005 model, now with 60k on the clock. Frankly, for my commute, I'm happy with the slushbox.
It's had some issues. "Compression rods" are part of the front suspension on these cars and both mine went, one inside the remaining warranty and one just outside, that I, much to my surprise, got Infiniti to cover. Also both front wheel bearings have gone but are thankfully covered under the longer powertrain warranty - phew.
Of course, being a car nut, when my car was getting the wheel bearing done I had a lookie in the showroom at the new M and the current G. Took a G37xS for a run and nice it was.
i'd like to upgrade to a G37xS - I want it, but don't need it, so I'll only make the jump if I can get a really great deal.
Dealer has a 2 month old car titled and used by a manager - hopefully not too thrashed.
My research has shown folk getting up to $5500 off MSRP on new cars although $4500 is more common.
The msrp on this car is around 42k.
My question is what is a realistic depreciation to apply to this near new car? I figured around 10%. I've offered $20k plus tax title and dealer fee plus my '05 as a trade and valued my '05 at $14k according to NADA. Now I know that's probably generous but I'm not desperate to do this.
Thoughts on buying near new appreciated.
cheers
7 to not 8 (yet)
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