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"Old" car with low mileage - buy or pass?

Discussion in 'General Automotive Discussion' started by FerrariFire, Nov 27, 2019.

  1. FerrariFire

    FerrariFire Rookie

    Mar 16, 2015
    19
    Hi gents,

    My question applies generally for any sports car and is not Ferrari specific.

    What is your opinion on finding an "old" car (and by that I mean 2013) with a very low mileage (around 500)?

    It's sold through an official dealership so it's legit and all maintenance papers check out but I am wondering on the car's overall health (lose it if you don't use it type of thing). The car was bought for "investment" and the owner thought it would be wise to keep the mileage as low as possible so that he can maximize his return.

    I'd appreciate your feedback.
     
  2. EastMemphis

    EastMemphis Formula Junior
    Silver Subscribed Owner

    May 25, 2019
    442
    Memphis, TN
    Full Name:
    John
    What kind of premium does the "investor" expect from keeping the car on a pedestal instead of driving it like it should have been?

    What premium do you personally place in a low mileage car? Are you an investor or a driver?
     
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  3. Rifledriver

    Rifledriver Two Time F1 World Champ

    Apr 29, 2004
    26,840
    Austin TX
    Full Name:
    Brian Crall
    6 years is not a lot of time with modern cars. You didn't mention brand but it was never driven enough for any warranty-able things to have come up and there is probably no warranty at this point. If it a car you like and like me you don't mind a patina as long as its yours and the price is good I see no reason not to.

    Unless it is really special it should have depreciated but somewhat less than cars that have actually been driven.

    We bought a 9 year old Testarossa with 1000 miles. It was bought as an investment too. We paid about 25% of what the original purchaser paid and about 70% of sticker. Not a great investment for him.
     
  4. FerrariFire

    FerrariFire Rookie

    Mar 16, 2015
    19
    You nailed it. To answer your Qs:

    • His premium is $100K -- just because of the low mileage.
    • I place little to no value.
    • I am a driver.
     
  5. Rifledriver

    Rifledriver Two Time F1 World Champ

    Apr 29, 2004
    26,840
    Austin TX
    Full Name:
    Brian Crall
    Unless it is very special they are crazy.
     
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  6. FerrariFire

    FerrariFire Rookie

    Mar 16, 2015
    19
    My fault, the car is a Mercedes. Thanks for your comment.
     
  7. Tenney

    Tenney F1 Rookie
    Consultant

    Feb 21, 2001
    3,464
    As a driver, how long do you think it would take to drive away the premium?
     
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  8. donv

    donv F1 World Champ
    Rossa Subscribed Owner

    Jan 5, 2002
    18,914
    Portland, Oregon
    Full Name:
    Don
    I can't imagine why you would want it, in this case. Look elsewhere and let a "collector" buy it.

    Personally, I wouldn't be scared of the low mileage, but I wouldn't be scared of high mileage either.
     
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  9. Carnut

    Carnut F1 Rookie
    Rossa Subscribed

    Nov 3, 2003
    3,609
    Gladwyne PA
    Full Name:
    Morrie
    The only car made in 2013 I can think anyone might believe would be an investment would be a SLS. It would have no additional value in my mind, I have found cars that were not driven to be more problematic than those than have been.
     

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