Oh dear. At one time, The Bentley GT Coupe was the UK footballer’s favourite. And it may still be, given that young men with a supernatural ability to play the beautiful game tend to spend orgiastically, ignoring such petty concerns as depreciation. But the fall-off in automotive values during these recessionary times is enough to give their accountant pause. UK auto industry experts HPI report that “the Bentley GT Coupe is depreciating at £500 ($753.37) more per week than it did 12 months ago. This means owners will lose over £67,000 ($100,874.89) in value, which is 56% of its £120,000 ($180,731.64) new price tag, in the first year. “Looking ahead, the huge rate of depreciation means the more affluent consumers will change they way they shop,” HPI’s Martin Keighley predicts. “Luxury models such as Ferrari and Porsche used to have bullet proof residuals, but with consumer confidence at an all time low these once secure purchase items will not seem so attractive. Buyers are going to be looking at how well a vehicle holds its value before splashing out, which doesn’t bode well for high end models.” Make the jump to see the UK’s worst depreciators.
Bentley Continental GT Coupe
Porsche Boxster, 911, Cayenne
Audi A4 Cabriolet, A8, TT, A6, Q7
Saab Convertibles
BMW Z4, X5, X3, M3, 5 Series, 7 Series
Volvo V70, XC90
Mercedes ML, SL, CLK, SLK
VW Toureg
Aston Martins
Lamborghinis
Ferraris
The GT in that ad depreciated 50% before it hit mile 1 thanks to those mods. It’s hideous.
5 out of the 11 are VWs (Bentley Continental GT Coupe, Porsche Cayenne, various Audis, VW Toureg, various Lamborghinis). The bigger the VW is, the harder it falls.
Maybe VW should have known something was amiss when they decided to put the shifter bezel from a 2001 Passat in a $180k vehicle. Makes one wonder what else came from the parts bin.
I’ve recently noticed the same thing around here.
I’m always curious to see what the 3-year old flagship cars from Audi, BMW, and Benz are going for. Boy are they dirt cheap. You can basically buy an ’05 A8, 745, or S430 for around $25k! That kind of money barely gets you a new Accord anymore. The Lexus flagship is not as cheap, by the way.
Want a Porsche 911? I’ve seen ’03 996s around here for $25k. Boxsters are much less.
Well,
Lieberman is going to have to add this to his QotD:
Mustang?
Z?
Year-old Bentley GT?
Luxury cars pretty much all depreciate like rocks, somewhere around year 5.
If you choose to look for an upside to next year’s financial turmoil, this is it.
Much of that high flash machinery was owned by the folks who owed their income levels to the very markets that are imploding.
The panic selling of Masers, Lambos, and Ferraris will accelerate throughout 2009. Bentleys and whatever else too.
There will always be some sub-niche stuff that will hold on better than the rest. But, if you have the cash, and want that car that you’ve always wanted, your window is opening. Wide.
Hopefully this happens to Lambos and I can get myself in a Gallardo sooner than later
Sooooooooo
$100,000 in your pocket
Year-old Bentley GT?
– or –
Brand new S550?
What’s the market for used Bentleys?
Doesn’t buying a used mega luxury car defeat the point of showing off how rich you are?
My modest daydream is being able to pick up a Dodge Challenger SRT-8 for $15k.
I guess I lack ambition compared to a lot of other posters!
So what’s the depreciation on after-marketer’s takes on high-end vehicles, say, any Brabus turd.
Doesn’t buying a used mega luxury car defeat the point of showing off how rich you are?
The average Joe doesn’t have a clue as to what you paid for it.
Doesn’t matter a bit that they paid 10K more for their YuSuburbaho. Drive a used high-line car and you, my friend, are rich.