worst cars report

Buy a new, entry-level 2005 LS V-6 now and in five years it will retain only 19% of its original value.
 
eL eS said:
Buy a new, entry-level 2005 LS V-6 now and in five years it will retain only 19% of its original value.
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This study is crap. Anyone who buys a car with the hopes of making any sort of money on resale is an idiot. I bought the LS cause I loved it. That's the mistake most people make...they buy a car that they really don't like and end up selling it for alot less than they paid. If you buy a car that you truly enjoy you end up keeping it until it becomes little more than scrap metal...

:L
 
I concur.... I buy mine to drive them till the wheels fall off. Unless you are buying a clissic or antique you are not going to make money.

I do not follow the navigator at all but was suprised that it fell in the most unreliable category.
 
I read an article about this. They said something which makes alot of sense. If you spend 50+ grand on a car you tend to take it in for anything and everything to get worked on. For instance... if the little chrome strip on the central vents of the LS's dash go AWOL you would most likely take it to the dealer to take care of it. Most people driving Hyundais couldn't give a crap...thus your lincoln looks like a POS in such a simple study.
 
right - it's really a measurement of expectations. North American buyers have very high expectations - more so as the price goes up. Many of the euro brands cannot come to the US or have pulled out - but are still selling in Europe - simply because they cannot meet the 'quality' expectations of the US buying public.
 
I feel that if depreciation is a concern for any buyer, then dont buy a brand new car, period. Buy a vehicle that is 12 to 24 months old with 12k to 24k miles. This way you let the first buyer take a hit on the depreciation and you as the second buyer get a one to two year old vehicle that in most cases is almost brand new and depending on the model of vehicle can buy it for as much as 25% off the original sticker price. So unless you need the new car smell buying a pre-owned vehicle is your best bet. But I agree with the rest of you, if you are planning to buy a car and make a profit on it, dream on.
 
How do you equate a cars poor resale with someone who would expect to make money when they sell it.? The cars we are talking about here will never gain value. But I think I should expect that my Lincoln LS would hold its value better than the lovely Pontiac Aztec!!!
Just because someone complains about resale value dose not mean they think they should make money when they sell it.
 
Thats why I buy used let someone else take the hit on the sticker price. Believe me unless you buy it now and keep it for 30+ years it might be worth something more then what you paid for it. But who knows these cars might be worth something down the road, never say never. My father bought his E-Type in 68 and now I have it in full concours form, with that said I would probably make little money IF I where to sell it. Bottom line buy something trendy and fast and store it for 30+ years and then sell it you probably will make something off it. These studies are stupid and need to be disguarded.

-Scott-
 
I agree. I haven't bought a new car in years. I'll usually get the extended warranty, and get a fat car that I would never be able to afford new.Then laugh at the poor bastard that bought it new. A car at 2 years has taken the biggest hit it will ever take in it's life. By the way a guy I work with has a Navigator, bought it used and he told me other than maintence, it's never seen the dealer.
 
well you might buy a car with every intention in the world of keeping it for the long haul... then one day some bad luck comes and you need to sell your pride and joy. The you find out what value you car has retained in its 2nd or 3rd year.

I think it is ridiculous that we are being sold cars that arent worth what they are being sold. Might as well be a bill of goods.
 
Hi all!

I just bought a 2000 LS 2 days ago it has 56,000 miles on it and it's loaded and looks brand new the original window sticker was in the glove box and the car was $38,000 dollars brand new and I paid a whopping $13,000 dollars for it!!!

I feel sorry for the sucker who bought it brand new!!!

I can't believe how much cars depreciate now a days, It ridiculous!!!!!

Donny
 
Donny said:
Hi all!

I just bought a 2000 LS 2 days ago it has 56,000 miles on it and it's loaded and looks brand new the original window sticker was in the glove box and the car was $38,000 dollars brand new and I paid a whopping $13,000 dollars for it!!!

I feel sorry for the sucker who bought it brand new!!!

I can't believe how much cars depreciate now a days, It ridiculous!!!!!

Donny
Click to expand...

indeed it is. Again these are not bought as investments but the very industry that inflates the prices seems to be the very folk that are killing the residual value.

I would think that at some point the law of returns is going to bite them in the :q . I am suer the breaking point may be years off however this is a corrosive issue for their bottom line. You never know how quickly momentum could build with automotive consumers.

I read in here more and more how folks are buying their cars used. The big three see little or no profit on these used car sales. The delaers on the other hand seem to be making a killing. You paid 13k for your LS and honestly that was about 4000 to 4500 too much. You can bet the dealer made at least 3500 on your purchase.

Maybe the whole reason the manufacturers are squeezing the dealers service shops so hard on paying for warranty work is so they, the manufacturers, can move in on the dealerships take them over and get their claws on the used car market.


BTW.... welcome to the LVC. You will certainly find some of the best folks in the world here. I feel like I am in the boy scouts again except we do not have jamborees and don't raid camps.
 
eL eS said:
I feel like I am in the boy scouts again except we do not have jamborees and don't raid camps.
Click to expand...

Note to self: LVC = Boy Scouts - jamborees - camp raids

Very interesting!

Is there a merit badge for sarcasm?J/K

:N
 
MikeB said:
Note to self: LVC = Boy Scouts - jamborees - camp raids

Very interesting!

Is there a merit badge for sarcasm?J/K

:N
Click to expand...

merit badge= :wrench

I love the math but now that I think of it you can't have camp raids without jamorees. so maybe the forumla could be reduced to:

LVC= Boy Scouts - Jamborees
 
Yes, your right on used. I work for the largest Caterpillar dealer in Florida. I'm in the lift division, we make about 1000-1500 profit on new. Used is unbelievable. We take in used machines for 3500, then sell them for 12,000....You do the math. Our salesmen would rather sell used any day rather than used. We have to sell a certain percentage of new units per month. It's the same in the car business. Forklifts depreciate as bad as cars. Mabey more. Your still getting a better deal with used.
 
No doubt about the deal you get when buying used. Investing in precious metal, not jewelry, and realestate is the only way you can expect to spend and either hold value or appreciate in value.

Now imagine a day when a signifacnt majority of sales is only used... the impact on factories will be devestating. I think I may try to find the numbers and see what % of auto sales are used vs new and what the trend has been over the past few decades.

I'll post if I can find them.
 
Tip On Finding A Used Car Gem!!

Best way to find a used car... Goto a Used Car Auction... i.e. Adessa in Manville NJ. Find a non comissioned dealer. (Independent) and have him bring you into the auction yard. He will if your interested in buying!!! You can pick your ride!
If you know cars, you know what to look for... Unibody stuff... Most of the cars on the lot have keys in them, so you can start them and do a detailed onsite inspection. Set your price with the dealer and he'll goto the auction and buy the car if he can do it within your price. I've done this three times. Last time buying a 2003 Taurus SES Sport Edition for my sister w/27K on it for $9K.
You'll find many of these cars are leasers that are repo'd or have wound at the auction from the leasing Co.'s... I'm sure for car guys like y'al this is nothing new. Just thought I'd share why I haven't bought a new car in years.
 
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