Is this economy going to help correct the miles/price issue? | FerrariChat

Is this economy going to help correct the miles/price issue?

Discussion in 'General Automotive Discussion' started by noone1, Jan 18, 2009.

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  1. noone1

    noone1 F1 Rookie
    BANNED

    Jan 21, 2008
    4,612
    Los Angeles
    Full Name:
    Mike
    It's obvious that this economy is smashing exotic prices, but is this also kind of putting in a more realistic miles/price weight?

    It's always been the case that even a few thousand miles on an exotic knocks 10's of thousands of dollars off the price. But with the current downturn in prices, are we starting to see or going to start to see miles play less of a role in the resale value?

    With values already so depressed, should exotic mileage really be a big factor in pricing? It's 2009. Wear and tear isn't really an issue anymore. Most exotics these days are very well built and aren't subject to constant maintenance. Sure, parts and service will always be more expensive, but I'd be willing to bet that most exotics now can go for the long run relatively problem free.

    Exotics don't tend to decrease linearly in value, so since we're moving down the price curve at such an accelerated rate, will we now see a time when miles need to catch back up? Or better yet, do we now need to see a time when miles are weighted less?

    Just a thought.
     
  2. Craigy

    Craigy Formula 3

    Mar 19, 2006
    1,679
    Louisiana
    Full Name:
    Craigy
    Miles will probably have the same effect roughly, percentage-wise, but it will be seen as having a smaller impact as the price of vehicles will be smaller to begin with.

    Say a $200 car takes a $10 hit with miles yesterday; today it's a $150 car taking a $5 to $7 hit for miles.

    People still like to have something that's been used less, maintenance and repair aside. There is something inherently more valuable about a car with fewer miles, whether it be due to normal wear/tear, tightness, fit and feel, or simply some sort of placebo effect.
     
  3. Simon^2

    Simon^2 F1 World Champ

    Oct 17, 2005
    12,313
    At Sea Level
    IMHO it may make it worse...

    consider this... as prices fall, they delta between perfect and rough examples, becomes less...

    so lets think about 360 coupes...

    later in 2009 it is entirely feasible that near perfect cars will be in the high 80's...
    will rough cars be under 60? I doubt it... parts value protects the bottom...

    I think prices falling, and a glut of cars on the market, will make the higher milage examples sale proof...
     

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