Resale / Depreciation?

[rroyce46]

EChua5 said:


I have a 2012 Hyundai Genesis 3.8 V6 Premium + Tech. Took it to Carmax at 6 years old (2018). I bought it as a CPO from the original owner, and have owned it about 3.5 years. Went from $45k to $22,500 (the time I bought it). It's now worth a bit less than $10,000.



2/2012: $45,000
5/2015: $23,995 (42,269mi)
6/2015: $17,439
10/2016: $14,099
11/2017: $12,036
10/2018: $10,000 (70,000mi)

When you think of any luxury car resale is really awful for the first 7 years.Then condition & mileage set the value.
I spent 31 years (retired almost 8 years ago) in the motor trade & resale values of MB,BMW Jag,Infinity,Audi even Lexus was always dismal.
If resale is important to you don't buy a Luxury car.
especially new.Bought my 1 1/2 year old Genny with 7000 miles a year ago for 40% off a new one.
It's dropped about 15% this year & I would guess 10% a year for the next few years. I can live with that as It drives way better than anything else for the same $$.

 

[xyos]

I have a 2016 Hyundai Genesis lease, I'm planning to lease a G70 but waiting almost exactly to the end of the lease because I know depreciation is atrocious and nobody is gonna give me the buyout quote.

Looks like we are in the same boat, I have 6 months left on my 2016 genesis lease, right now the payoff is 30k but its only worth about 24-25k, I'm hoping I can get into a pull-ahead program after the new year