Loving my red
Join Date: Oct 2009
Location: United Kingdom
I love the depreciation of the Alfas! I bought my GTV V6 for £1400 at 10 years old when it was £28k new! I bought my 06 1.9 JTDm 159 for £4800. No idea what it was new but the depreciation is really working for me.
I don't earn a lot so I need to be as smart as I can with my cash. I always try to buy my cars at about 4-5 years old from private sellers. Still new enough to be modern and feel new-ish but they've all lost about 80% of their initial value. That means I have no need for costly loans or monthly payments and the car will only depreciate slowly (by comparison) from then on.
I also actively look for cars that are poorly advertised or in need of one or two minor repairs that I know I can sort out easily. Things that put most people off I try to capitalise on. I also advertise them as well as I possibly can when its time to sell. Ebay adverts usually with loads of pictures of the car, every angle perfectly shot, nice background (loads of trees etc) and a few mentions of owners clubs and photos of the car at meetings seem to go down well.
My last few cars;
Fiat Coupe 20VT 1997 - bought for £2800 (needed new brakes and some TLC), kept for 2 years and sold for £2500.
Fiat Coupe 20VT 1999 LE - bought for £1300 with some minor accident damage. I spent £1700 getting it repaired (inc full respray), had a fast MINT car for 3 years and sold it for £4000.
Range Rover 4.0 HSE 1998 - bought for £5800, kept for a year. Sold for £6000.
Fiat Punto HGT 2001 - bought for £1500 (no service history and poorly advertised), kept for 3 years and sold for £1250 (in 3 hours!)
VW Golf GT TDI PD 150 - bought for £4600, kept for a year and sold for £4800.
Citroen C4 VTR 2006 - bought for £2100 (really badly advertised and a door dent) - kept for 6 months (hated it!) and sold for £3400.
The plan has gone a little pear shaped with the 159 though. Despite buying it for £4800, I've spent over £2k on TI wheels, skirts, suspension etc so it owes me about £7k which TBH I doubt I'll get back for the car.
I try to justify it though by doing routine maintenance and servicing myself (I don't mind getting mucky) and keeping them as mint as I can.
As I say, I don't earn a lot (but love cars) so I try to buy and sell as well as I can. Always buying desirable cars seems to help as well I like to think.