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Ten Cars That Lose Value Fast
Posted by: kap
Date: April 03, 2008 11:16AM
"A consumer also has to decide if saving money on the purchase of a new vehicle is more important than earning more money when selling the vehicle. Buying low is often the wrong strategy, says Nerad. "You end up losing more than you thought you were saving, because in three to five years it is worth so much less than a more tried and true brand," he says."

[autos.yahoo.com]-

BTW, the same rule applies to Windows boxes as well ;)



SoCal for now.
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Re: Ten Cars That Lose Value Fast
Posted by: pinkoos
Date: April 03, 2008 11:27AM
I haven't even heard of most of the cars on that list! No wonder they lose value fast.

By the way, #11: any car the second you drive it off the dealer's lot.



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Re: Ten Cars That Lose Value Fast
Posted by: RevKev
Date: April 03, 2008 11:34AM
I drive a car until it won't go anymore. I have bought used cars that should have made it on the list. It's not a bad thing if you can buy a used reliable car at a great price. Just one man's opinion.
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Re: Ten Cars That Lose Value Fast
Posted by: billb
Date: April 03, 2008 11:36AM
Quote
some yahoo
"A consumer also has to decide if saving money on the purchase of a new vehicle is more important than earning more money when selling the vehicle. Buying low is often the wrong strategy, says Nerad. "You end up losing more than you thought you were saving, because in three to five years it is worth so much less than a more tried and true brand," he says."

quote]

Out of context, that doesn't make much sense.
I'm not sure it does even in context.(can't get to yahoo right now)
it sounds like apples and oranges
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Re: Ten Cars That Lose Value Fast
Posted by: Chupa Chupa
Date: April 03, 2008 11:37AM
On the upside, if you own one of these your annual personal property tax will decrease really fast too (assuming you live in a state that has this tax).
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Re: Ten Cars That Lose Value Fast
Posted by: davester
Date: April 03, 2008 12:02PM
Anyone who cares about money doesn't buy a new car off a dealer lot anyway.



"In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time something like that happened in politics or religion." (1987) -- Carl Sagan
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Re: Ten Cars That Lose Value Fast
Posted by: TLB
Date: April 03, 2008 12:10PM
Quote
RevKev
I drive a car until it won't go anymore. I have bought used cars that should have made it on the list. It's not a bad thing if you can buy a used reliable car at a great price. Just one man's opinion.

Ditto. I've never sold a car, never traded one in. These are the type of cars I like to buy at the 2-3 year old point and drive to the grave. As long as you buy a car with average to slightly better than average reliability, I think you come out way ahead.
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Re: Ten Cars That Lose Value Fast
Posted by: M A V I C
Date: April 03, 2008 12:16PM
Why can't they just put a list of the 10 cars on their rather than listing them here and there in an article filled with quote from Captain Obvious?




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Re: Ten Cars That Lose Value Fast
Posted by: SDGuy
Date: April 03, 2008 12:19PM
Quote
TLB
Quote
RevKev
I drive a car until it won't go anymore...

Ditto. I've never sold a car, never traded one in. These are the type of cars I like to buy at the 2-3 year old point and drive to the grave. As long as you buy a car with average to slightly better than average reliability, I think you come out way ahead.

Same here. Main commuter vehicle is a 13 year old Honda, that still drives like new (had to replace the clutch, but that was the only major repair so far). Endless car payments are for people who don't know how to manage their finances.
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Re: Ten Cars That Lose Value Fast
Posted by: davester
Date: April 03, 2008 12:22PM
Quote
M A V I C
Why can't they just put a list of the 10 cars on their rather than listing them here and there in an article filled with quote from Captain Obvious?

Advertising revenue.



"In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time something like that happened in politics or religion." (1987) -- Carl Sagan
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Re: Ten Cars That Lose Value Fast
Posted by: Chupa Chupa
Date: April 03, 2008 12:41PM
Quote
davester
Anyone who cares about money doesn't buy a new car off a dealer lot anyway.

I have to disagree. The only reason I care about money is that it enables me to buy things for me and loved ones like new cars. Personally one of life's little thrills for me is ordering a new car every 4 years, savoring my anticipation until it's production date, and then going to Munich to pick it up and break it in on the autobahn. For me that is money well spent and I have some great memories and hope to make a whole lot more in the decades to come.
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Re: Ten Cars That Lose Value Fast
Posted by: voodoopenguin
Date: April 03, 2008 12:43PM
Over here my first Alfa Romeo was bought because its secondhand value had dropped so much it became a bargain. By then most of the problems had been sorted out and I ended up with a fast and luxurious car at a very cheap price. Gave me no problems over the two years I had it.

My current fun car, a Maserati, cost £50,000 new but I picked mine up for £4,000. Again most problems had been sorted out and I've had 4 years of great driving in a 150mph + performance car with stonking acceleration, a full four seater with leather, walnut, a gold clock and loads of goodies. I love these cars that lose their value quickly. Oh and the price point got so low that now it won't lose much more. After 4 years that £4,000 has probably dropped to £3,000 and in a few more years will start going up!



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Re: Ten Cars That Lose Value Fast
Posted by: Mike Johnson
Date: April 03, 2008 12:59PM
Quote
billb
Quote
some yahoo
"A consumer also has to decide if saving money on the purchase of a new vehicle is more important than earning more money when selling the vehicle. Buying low is often the wrong strategy, says Nerad. "You end up losing more than you thought you were saving, because in three to five years it is worth so much less than a more tried and true brand," he says."
quote]
Out of context, that doesn't make much sense.
I'm not sure it does even in context.(can't get to yahoo right now)
it sounds like apples and oranges

What he's trying to say is, let's say you're looking at a new Honda minivan, or a new Kia minivan. The Honda is $30,000, and the Kia is $24,000. In five years, the resale values are $12,000 for the Honda, $4000 for the Kia.

You think you're saving $6000 buying the Kia. But really it costs you $2000 more over the five years.
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Re: Ten Cars That Lose Value Fast
Posted by: Marc Anthony
Date: April 03, 2008 01:19PM
Quote
Chupa Chupa
The only reason I care about money is that it enables me to buy things for me and loved ones like new cars...

What do I have to do to make you love me? ; )



Le poète doit vivre beaucoup, vivre dans tous les sens. - Verlaine
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Re: Ten Cars That Lose Value Fast
Posted by: Thrift Store Scott
Date: April 03, 2008 01:33PM
Quote
Marc Anthony
Quote
Chupa Chupa
The only reason I care about money is that it enables me to buy things for me and loved ones like new cars...

What do I have to do to make you love me? ; )
ROFL!

Since I tend to buy cars in the sub-$1000 class, I appreciate vehicles with a precipitous drop in resale value; It means they'll be that much newer when I get them! grinning smiley
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Re: Ten Cars That Lose Value Fast
Posted by: cbelt3
Date: April 03, 2008 01:36PM
I recall the first new car I bought, a Fiat Spyder. And the resale value dropped rather rapidly because Fiat dropped out of the US market a year later. Guess they didn't want me as a customer.
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Re: Ten Cars That Lose Value Fast
Posted by: M A V I C
Date: April 03, 2008 01:38PM
Quote
Chupa Chupa
Quote
davester
Anyone who cares about money doesn't buy a new car off a dealer lot anyway.

I have to disagree. The only reason I care about money is that it enables me to buy things for me and loved ones like new cars. Personally one of life's little thrills for me is ordering a new car every 4 years, savoring my anticipation until it's production date, and then going to Munich to pick it up and break it in on the autobahn. For me that is money well spent and I have some great memories and hope to make a whole lot more in the decades to come.

Well, that's a slightly different story.

If you were paying MSRP on brand a Ford Focus...

Personally, dollar for dollar I'd rather buy a three year old car than a new one. I'm currently shopping for an Audi, working with a broker. Shooting for an '05. For the money we'll save, my wife could take a two week vacation to Europe, fly first class, stay in 4 star hotels and have plenty of spending cash.

Best way I've seen to buy a car is getting one through a broker well below market value, drive it for a couple years, then sell it for more than it cost.




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Re: Ten Cars That Lose Value Fast
Posted by: Racer X
Date: April 03, 2008 01:57PM
Odd. 3 of my 4 cars have gone up in value since I purchased them, and not from repairs.
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Re: Ten Cars That Lose Value Fast
Posted by: voodoopenguin
Date: April 03, 2008 02:05PM
Quote
Racer X
Odd. 3 of my 4 cars have gone up in value since I purchased them, and not from repairs.

For many years my dream car was the Jensen Interceptor. About 15 years ago I finally bought one and a deal I made with my wife was that I recorded just how much it cost to have this fun car that di at best 15 mpg. So I recorded everything...annual car tax, insurance, all repairs and even all the fuel I bought. I put about 10,000 miles on it over three and a half years and because we were building our own house I sold it. The difference between the final selling price and the purchase cost plus every bit of expense was £1100. That was £1100 profit! I had actually been paid to have and run my dream car for all that time. probably never happen again.



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Re: Ten Cars That Lose Value Fast
Posted by: spearmint
Date: April 03, 2008 02:08PM
I knew before looking the Kia was going to be on the list and like many of those cars would be an excellent used choice. I like the looks of the Kia SUV. Never wanted a new car and would be more car used if I had money for new. Continental would be a nice ride as long as the owners did not smoke.

No Durango though, fact no Chrysler ever.




Da Good Life
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Re: Ten Cars That Lose Value Fast
Posted by: davester
Date: April 03, 2008 02:14PM
Hey, what kind of Maserati did you end up with Voodopenguin? I'm like you, I like to troll for bargain high-end cars. I came very close to buying a Maserati a number of years ago (though only the Biturbo model) because it was an "orphan" car here in the U.S. (i.e. it was introduced for a few years then removed from the market so that their value plummeted). My wife censored that acquisition so I ended up with another nice but much less interesting orphan (A Sterling 827Si, otherwise known as a Rover in your neck of the woods).



"In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time something like that happened in politics or religion." (1987) -- Carl Sagan
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Re: Ten Cars That Lose Value Fast
Posted by: jdc
Date: April 03, 2008 02:53PM
we always buy new -- for us the 0% or 1.9% financing we get far outweighs the 6.5% on a used car -- pretty much regardless of value



----


Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: Ten Cars That Lose Value Fast
Posted by: anonymouse1
Date: April 03, 2008 03:08PM
If any of those 10 cars are reliable, would those be GREAT cars to buy used? Cheap and reliable.
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Re: Ten Cars That Lose Value Fast
Posted by: dmann
Date: April 03, 2008 03:10PM
I cover 4 states for work and drive between 19,000 and 22, 000 miles per year. Last year I traded in my 10 year old 2 door Integra for a 2007 CRV. Aside from the fact that the Integra was just too small for the amount of stuff I have to carry around with me, various things were starting to go wrong.

I am a single female and travel alone. The security of having a new car with a full warranty is incredibly valuable to me. And no, I don't intend to have car payments forever. I expect to have the car paid off in 3 years and will probably drive it for another 7-10 beyond that.

DM
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Re: Ten Cars That Lose Value Fast
Posted by: josntme
Date: April 03, 2008 03:17PM
Well I just bought a ten year old car with a thirty two gallon gas tank and by filling it up I doubled the value.
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Re: Ten Cars That Lose Value Fast
Posted by: Thrift Store Scott
Date: April 03, 2008 03:28PM
Quote
josntme
Well I just bought a ten year old car with a thirty two gallon gas tank and by filling it up I doubled the value.
You'll want to be careful doing that.
It's a well-known fact among we vehicular bottom-feeders that old, essentially valueless cars always wait until they have a full tank of gas to break down. ;)
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Re: Ten Cars That Lose Value Fast
Posted by: M A V I C
Date: April 03, 2008 04:07PM
Quote
jdc
we always buy new -- for us the 0% or 1.9% financing we get far outweighs the 6.5% on a used car -- pretty much regardless of value

It really depends on what car your buying. For the vast majority, that's not true. Sure you might be saving 6% interest a year, but over a five year period that adds up to 30%. With a new car, you're most likely going to see a 50% drop in value in those five years.

The dealers can afford 0% financing because there's already a 15-30% premium built into the price of the car.




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Re: Ten Cars That Lose Value Fast
Posted by: voodoopenguin
Date: April 03, 2008 04:18PM
Quote
davester
Hey, what kind of Maserati did you end up with Voodopenguin? I'm like you, I like to troll for bargain high-end cars. I came very close to buying a Maserati a number of years ago (though only the Biturbo model)

It's in the Biturbo range, known as a 228. Here in Europe it has 255 BHP but I think it got crippled for the US market to deal with your emission regulations. Here's a clickable thumbnail of it at an Italian Car show I took it to.





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Re: Ten Cars That Lose Value Fast
Posted by: lafinfil
Date: April 03, 2008 04:20PM
Quote
anonymouse1
If any of those 10 cars are reliable, would those be GREAT cars to buy used? Cheap and reliable.

My brother-in-law has one of those Chevy Uplander for the last three years

It was supplied by his employer as his company car and he wasn't too thrilled at first.

After driving it for about 80K (yes he drive a lot) he has been pleasantly surprised with it.
It's comfortable and roomy - drives nicely and he gets about 22 on the road with it and hasn't
had any problems what so ever. Just regular fluids.

I see a lot of the rental companies lease them now in the "mini van" category which along
with other fleet sales (like my bro-in-laws company) there's a glut on the used market.

He's getting one of those Ford Taurus crossovers to replace it this summer.



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Re: Ten Cars That Lose Value Fast
Posted by: artie67
Date: April 03, 2008 05:16PM
Our first new car was a 98 Ford Contour SVT. A great car that was not supported by Ford and discontinued in the US, but still in Europe. My first new car is a Mazda3 hatchback 2004 . Made in Japan, 25-34 mpg and a super used car value. Fit and finish is excellent. The cars listed in the article have good motors and drivelines, but fit and finish etc is the shortcoming. Anyone looking for Saab (circa 69-74) parts, please email, I'm sending my 73EMS off to the crusher.d
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Re: Ten Cars That Lose Value Fast
Posted by: rgG
Date: April 03, 2008 05:23PM
VooDoo, what year is that Mazerati? My husband had an 85 or 86 (can't remember which) Biturbo that looked a lot like yours.





Roswell, GA (Atlanta suburb)
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Re: Ten Cars That Lose Value Fast
Posted by: JoeH
Date: April 03, 2008 05:50PM
Quote
Mike Johnson
Quote
billb
Quote
some yahoo
"A consumer also has to decide if saving money on the purchase of a new vehicle is more important than earning more money when selling the vehicle. Buying low is often the wrong strategy, says Nerad. "You end up losing more than you thought you were saving, because in three to five years it is worth so much less than a more tried and true brand," he says."
quote]
Out of context, that doesn't make much sense.
I'm not sure it does even in context.(can't get to yahoo right now)
it sounds like apples and oranges

What he's trying to say is, let's say you're looking at a new Honda minivan, or a new Kia minivan. The Honda is $30,000, and the Kia is $24,000. In five years, the resale values are $12,000 for the Honda, $4000 for the Kia.

You think you're saving $6000 buying the Kia. But really it costs you $2000 more over the five years.

There are more than a few things wrong with the financial analysis done in the article, and like the article, your example ignores the time cost of money. To include that gets the total cost closer. For example, you pay $6,000 less in the first place. If you have a loan, you pay less interest over the 5 years since you borrowed less in the beginning. And if cash is used to purchase, the $6,000 can earn at least 5% each year invested in safe things like government bonds or CD's. Even at 5% the earnings on that money over 5 years adds up to around $1700. Hope the article writer does not give investment advice. In any case, my car is transportation not an investment. I am trying to get the lowest total cost to get the transportation I need in reasonable comfort, any money saved can be used for other things.



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Re: Ten Cars That Lose Value Fast
Posted by: Black Landlord
Date: April 03, 2008 07:49PM
Quote
SDGuy
Quote
TLB
Quote
RevKev
IEndless car payments are for people who don't know how to manage their finances.

I completely agree!!!
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Re: Ten Cars That Lose Value Fast
Posted by: freeradical
Date: April 03, 2008 07:59PM
Quote
voodoopenguin
Over here my first Alfa Romeo was bought because its secondhand value had dropped so much it became a bargain. By then most of the problems had been sorted out and I ended up with a fast and luxurious car at a very cheap price. Gave me no problems over the two years I had it.

My current fun car, a Maserati, cost £50,000 new but I picked mine up for £4,000. Again most problems had been sorted out and I've had 4 years of great driving in a 150mph + performance car with stonking acceleration, a full four seater with leather, walnut, a gold clock and loads of goodies. I love these cars that lose their value quickly. Oh and the price point got so low that now it won't lose much more. After 4 years that £4,000 has probably dropped to £3,000 and in a few more years will start going up!

Hey, only American English here please! smileys with beer
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Re: Ten Cars That Lose Value Fast
Posted by: Dakota
Date: April 03, 2008 08:12PM
Quote
anonymouse1
If any of those 10 cars are reliable, would those be GREAT cars to buy used? Cheap and reliable.

I went looking for those cars that are worth 25% of their MSRP after 5 years. There are none! Another pricing that does not exist in the real world.
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Re: Ten Cars That Lose Value Fast
Posted by: GuyGene
Date: April 03, 2008 08:39PM
Give me a good old Yugo or Edsel any day..., especially the Edsel.



That old man - he don't think like no old man...
Now I wouldn't want to be within 400 - 500 yards of one of them nuclear bombs when it goes off! WW1 Vet Old Man
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If idiots could fly, this place would be an airport. And I'd be a TSA agent.
A bonified member of The Mystic Knights of The Sea, George P. Stevens, President. Andy Brown, Treasurer, Algonquin J. Calhoun, Legal Consultant.
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Re: Ten Cars That Lose Value Fast
Posted by: Grateful11
Date: April 03, 2008 08:41PM
Lose value fast?

Anything made by Chrysler!

On the Kia thing a friend of mine bought an '05 Kia wagon and it wouldn't pass the NC
emissions test after one year no matter what was done to it. Kia wound up buying it back.
They claimed it was asoftware problem with the vehicle. He bought a Scion xA and couldn't
be happier.



Grateful11
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Re: Ten Cars That Lose Value Fast
Posted by: ADent
Date: April 03, 2008 11:41PM
Hondas may make great new cars, but they suck as used cars - way too expensive.

Now the Kia makes a great used car.
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Re: Ten Cars That Lose Value Fast
Posted by: jdc
Date: April 04, 2008 12:28AM
honda is the apple of the used car world -- and thats why new is better than used for us

im looking at a new loaded civic -- 1.9% finanicing and $2000 AAA discount makes it close to $18K

1 year old civic is still $17 -- heck i saw a 2004 for $15...



----


Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: Ten Cars That Lose Value Fast
Posted by: voodoopenguin
Date: April 04, 2008 01:43AM
Quote
rgG
VooDoo, what year is that Mazerati? My husband had an 85 or 86 (can't remember which) Biturbo that looked a lot like yours.

It's a 1991. All the Biturbos had a similar shape and my 228 is a 2 door but full four seater that is the same length as the four door of the time, the 430. Most 2 doors were shorter and came in coupe or soft top so the 228 is a little rarer.



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Re: Ten Cars That Lose Value Fast
Posted by: incognegro
Date: April 04, 2008 06:31AM
According to that article, a Kia Sedona would be a "good" used buy since it loses so much value in the first few years. How do they rate with Edmunds, Consumer Reports, etc?

Anyone here know someone with a Sedona?
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Re: Ten Cars That Lose Value Fast
Posted by: Lux Interior
Date: April 04, 2008 07:07AM
Great. Now I will have Joe Walsh's, "Life's Been Good to Me So Far" stuck in my head the rest of the day.

Thanks, Voodoo!

;)
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Re: Ten Cars That Lose Value Fast
Posted by: josntme
Date: April 04, 2008 07:38PM
My wife's had a KIA Sedona since 2002 with nary a problem.

Now that I've said that, watch it fall apart tomorrow.angry smiley
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