12 months is also a very short time. I did this with a Mondeo Ghia X a few years ago. Ended up loosing 50% of its value & it was bought as a 6 month old Ford Direct car with 9K on it! Ended up costing me £1.23 per mile Ouch!
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The shock is not the depreciation, the shock is someone paying 18k for a used mini.
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TourVanMan TM < Ex RF >
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Nothing wrong with paying 18k for a Mini, it's paying 18k for a MINI that I object to. BMW don't even sell it with an R1 engine in the boot. Pah!
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Im still laughing at this, anybody who takes too much notice of the motoring press is clearly an idiot, and gets what they deserve.
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It amazes me that a new MINI can cost that much, and even more that anyone would pay it.
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........ anybody who takes too much notice of the motoring press is clearly an idiot ..........
Careful ! .......... HJ is a member of the motoring press.
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L\'escargot.
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It would be interesting to publish depriciation curves for various cars, perhaps new to 10 years, some will drop like a stone in the first 12 months so can make a great second hand buy at one year old, others hold their value through the warranty period and then start to drop off very quickly, others will hold value well for perhaps five years and then drop off sharply once they are percieved to be obsolete.
Buying a new Vauxhall at anything more than a substantial discount is likely to loose you a lot of money, on the other hand a three year old BMW retains a good proportion of it's purchase price so it makes sense buying new and keeping for two or three years however you can loose as much buying a two or three year old BMW and running it for three or four years as you can buying a new Vauxhall.
Other than real exotica they pretty much all end up in the same place after eight or so years.
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