No, I am afraid Australia is much the same as the UK, perhaps even worse because new cars are horrendously expensive compared to the US and second hand cars retain so much of the original value - when they are perceived as luxury brands and small to mid-size. Larger luxury brand cars will fall substantially but a 1 series will resale for a price incredibly close to its original purchase price. The problem is compounded by the relatively small size of the luxury car market compared to other countries... the outlier colours therefore have to rely on their being someone in the market with the same "quirky" taste during the resale period.
The luxury brands are, I think most would agree judging from Redbook.com.au, Mercedes, BMW with Lexus and Audi less able to hold their value. Different models across the brand's range can alter the overall picture, however... so, yes, getting colour and specs right is worth a lot in the long run. And as much as I would like to buy freely, I am too poor and change my car every two years, to be able to do so. Boring!
Quote:
Originally Posted by LRS
Welcome to the madness of the UK…
I grew up in California and sometimes find the way people buy cars as well as buy and sell houses here beyond imagination. UK car buyers can be excessively anal when it comes to making a personal car purchase, with the problem being that you have no choice but to become the same as this false ‘resale’ really drives the used car market and its prices. Unfortunately cars and houses have become investment transactions that must make a return or maximum residual value.
Gone are the days of purchasing a car based solely on the fact that you like it. Life has become much more complicated with an average purchase now consisting of.
What make and model of car:
- Is most reliable?
- Has the lowest C02?
- Has the best MPG?
- Has the best residual resale value?
- Has the lowest insurance costs?
- Is the least likely to be abused in the car park by antisocial behaviour?
- Fits the right social categorization demographics you want to portray?
- Etc, etc……………..
I’d be interested to know if this car buying charade is unique to the UK or if this also happens in other countries?
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