I've been staggered by a couple of recent examples of depreciation I have seen in luxury cars.
1) My E350T. Purchased 9 years old with a full year of rego for $18,000. Sold new for over $130k. That is almost $13k per year of depreciation.
2) My brother is buying an E63 BMW (650i). He is looking at a 2008 model. Over 10 years, it will have lost around $200,000 or $20k per year.
I know there are even more extreme examples that this, the BMW 7 series come to mind, but even for very wealthy people this is a lot of money!
1) My E350T. Purchased 9 years old with a full year of rego for $18,000. Sold new for over $130k. That is almost $13k per year of depreciation.
2) My brother is buying an E63 BMW (650i). He is looking at a 2008 model. Over 10 years, it will have lost around $200,000 or $20k per year.
I know there are even more extreme examples that this, the BMW 7 series come to mind, but even for very wealthy people this is a lot of money!