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Wed
Dec 05 2007

What's your limit?

Vicky Parrott

How much is a car worth? I don't mean residual value, or any of that stuff, I mean at what price do you stop and think 'Hang on, even if it does have over 1000bhp, it's still just a car.'

Could you justify £839,000 for a Veyron?

Of course, this is all relative. You'd think that Bill Gates wouldn't even bother asking for a receipt if he bought a Veyron, whereas to you and I, £800k might as well be £8m.

For me, it's all about the car in question.

I would buy a Veyron without hesitation if I had the spare wonga, because I believe it's a milestone in the history of motoring, and such an aspiration for me that it's a bargain at any price.

Yet I know people, enthusiasts included, who think it's unnecessary to spend over £50k on a car no matter how good it is. When you think you can get a used Ferrari F355 for that, and still have enough change for your everyday Ford Focus, I'm sometimes inclined to agree. Until I take a long hard look at a Veyron, or even a Lamborghini Gallardo, and the theory is blown out of the water.

In contrast, I wouldn't buy a £345,687 Maybach 62 even if I'd just won the lottery, because it's the most ridiculous thing I've ever heard of when you can get a Mercedes S-Class for a fraction of the price. Or a Lexus LS, if you must be chauffeured.

Perhaps what says most about my approach to cars is that I will almost certainly buy an Ariel Atom decades before I pay off my substantial student loan. Yet an Atom doesn't even carry out the basic functions most people want from a vehicle.

Which I suppose means I value cars above a bank balance that's in credit, and that I don't ever get to a point where a car costs too much. Not yet, anyway.

How about you?

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About Vicky Parrott

Turned up for work experience here in 2005 and never went home. Loves lightweight track cars, Japanese performance cars and Le Mans. Hopes to own a Metro 6R4 one day.

Comments

Peter Cavellini December 6, 2007 2:15 PM

I agree with you Vicky, but also is'nt the top speed thing old hat nowadays so what if it can do 250MPH somebody else is going to do 270MPH(The Vector)and next it will be 300MPH!.No what i'll value in a car is lightness with safety and useable everyday performance at a price we could all afford. Any like minded opinions?

Kee Law December 6, 2007 10:29 PM

Sounds like a 1.2 Panda would fit your needs perfectly Peter!

On topic, for me the cost of a car is not its purchase price but the depreciation and maintenance costs.  Didn't Harris try to run a Gallardo for next to nothing when it first came out, all based on the premise that he could sell it 6 mths later for a profit?  

IF that was true (never saw any follow up story, perhaps i missed it?) then buying a new supercar like that is cheaper than buying a supermini.

Griffin911 December 10, 2007 11:34 PM

For me, I buy a car for keeps, so depreciation doesn't matter much to me. Or at least it didn't until my CLS 63 AMG was valued at £55000. I had it delivered 11 weeks ago! And it cost me £90000. Although that been said, if a car is good enough to justify it's price, at least for the person who is buying, then buy it. Just don't get it valued.

Jon Hardcastle December 11, 2007 1:30 PM

I think it all depends on your financial status, as Griffin911 points out £35,000 depreciation in 11 weeks is too much to bear for me and possibly the vast majority, but then again I would not spend 35K on a car never mind 90K, unless of course I came into a substantial amount of money (Lottery win/Euro Millions etc.) which is very unlikely.

I think Griffin911 calls it right with his last 2 sentences.

Vicky Parrott December 12, 2007 5:22 PM

I really hope you read this post, Griffin911, because if you've just had your CL63 AMG valued at £55,000 somebody is trying very hard to rip you off.

Looking at similar used cars is the best valuation and at the moment they're going for just under £100,000. Obviously if you trade it into a dealer you won't get that, but you shouldn't accept £55k for it. Unless you ordered it in baby pink, and have covered 100,000 miles over the last eleven weeks. Or have crashed it.

On another note - I value the Veyron so highly because it is genuinely usable, and one of the fastest cars in the world. It's the achievement that represents which I value so highly.

If I were you, Peter, I'd be looking at a nearly-new Mazda2 1.5 Sport. And you'd have one of the best cars around at the moment.

Peter Cavellini December 22, 2007 4:27 PM

I think you're being pedantic of course money matters - i do'nt care who you are but loosing large amounts on cars in short periods of time matters. Even if you are FSR you'll still baulk at loosing large amounts in depreciation.

Cuffy January 4, 2008 10:59 PM

I think I'm enough of a skinflint that even in the event, as unlikely as it may be, that I won the lottery, it would pain me deeply to be lining the pockets of any manufacturer for the OTR cost of brand new car.

Alas, by the same token, I'm far too impatient play the sensible sit back and wait two years game - but I could imagine I'd have infinite pleasure playing the big game hunt that is the nearly-new market.

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