42 replies to this topic

[Machine God]

 

I sold my house in Colorado Springs, CO in June of 2018 to move to Lompoc/Santa Maria, CA.  Spent 2 years looking for a house in the local area, but I kept refusing to buy small old houses for $1/2Mil or new tiny houses for $3/4Mil and then paying $6K/year for taxes.  Quick note about the housing market in that area, most were in some sort of pre-foreclosure stage.

 

Came back to Colorado Springs just to find out that the housing market was getting as crazy as CA.  The house that I sold in 2018, after 2 years, went up $200K.  One of the differences between CA and CO, is that you get more house, more land, and pay almost 1/2 in property taxes in CO.

 

But to my point, and in my case, I did not see and have not seen a "limited supply" in housing, here in the Springs or in Lompoc/Santa Maria area in CA.  Supply is there, the value the housing market is imposing on houses is what's keeping me away from buying right now.  Luckily, now I'm living inside the Air Force Academy where my commute is only 5min. ;-)  and I can take my time finding the perfect home/GTR :D

 

 

A $3-4 mil house in CA would be closer to $40-50k per year in taxes.  But yeah, I almost took a transfer to the Denver area.  Was all excited to use my Cali house money and live like a king.  Nope, while not quite as bad, it's gotten really expensive there.

For the OP, the miles are what is killing you.  Yeah it's really not too many for a GTR, but everyone likes to talk about how miles don't matter that much, but in the end, it's a huge deal.  When I bought my 17 I wouldn't even consider anything over 10k miles and mods were a no-no also.  

[Machine God]

  
Ironically, I am not having much luck selling my '18 Cadillac ATS-V Championship Edition, I have it listed for $46,990 with just under 18K miles, and all I'm getting are tire kickers, low ball offers, or hard luck stories. A KBB Private Party value using Very Good Condition (playing it conservative against using Excellent Condition) is almost $50K.

 

I have an RS7, so believe me I know the pain of super sedan depreciation.  However, compared to the Caddy depreciation scale my Audi looks like a sound investment. 

[myclue]

I recently just sold my clean unmodified 2015 premium with 2015 miles for 66k in June.

Deep down I did not want to sell the car, so i listed it at a perceived higher asking price of 66k.

5 days later i received a deposit from the buyer without any negotiating

It seems the used car market has definitely gone up and all used car values are inflated right now

[crepr12]

2015  with 2015?...You never drove it?...

[gixy2k]

2015  with 2015?...You never drove it?...

Yes, what he said ^   ????

A 2015 with 2015mi. for $66,000 is a great deal (for the buyer)....  you basically gave it away, in my book.  (assuming no prior accidents or crazy mods)

[Mid-Life Crisis]

They said Covid-19 is killing our economy.  Well, I don't know where or how.  Housing market is booming, same with car sales, and most businesses are open in some form or fashion (online, limited or full capacity, etc.) - at least in CO -.

I'm also in the market for a new house, and thanks to the political-driven monumental exodus from states that we won't mention, Colorado Springs, CO housing market prices, now resembles that of CA... :/   

I live in Melbourne, Florida aka the Space Coast. The privatization of the space industry has revived things here, after the Space Shuttle program was ended. Also, some companies, such as Northrop Grumman, have expanded their presence here, and others consolidated, as Harris did with L3 to become L3Harris. Housing is in short supply and prices have gone up. The 2,415 square foot home I bought as new construction a little over than 3 years ago for $450K would now sell for between $575K to $600K. And to your point about Colorado Springs, I hear from recruiters fairly often for cybersecurity positions there. I was also approached for another in a place called Roy, Utah, and another in Omaha, Nebraska. It just seems odd that someone would up and relocate their families to these out of the way places. I know Omaha, is home to Offutt AFB, formerly headquarters for the old Strategic Air Command, or SAC, so you have a military presence there, as you do in the Springs (which, by the way, I lived when I was a little boy, when my father was stationed there).

[Kama_Supra]

Mid-Life, I was fortunate enough to witness STS-128 in 2009.  Really incredible, sights, sounds, and feel (Top Fuel anyone?!!) of a Shuttle launch from a mile away.  Glad that the private sector is breathing new life into Titusville and surrounding areas!

 

GLWS!

[myclue]

OOPS must have had a brain fart... I meant 30k miles.

[crepr12]

So you did drive it

[gixy2k]

Enter 2021 M3 & M4 Comp. stage left at $72K & $74K base price respectively (I6/TT/AWD-503hp/442tq).  Available Jan-Feb 2021.  -- Just paid a visit to my local BMW dlrshp --

 

Just something to think about for those contemplating a used GTR for similar price.

 

As mentioned in one of my previous posts, I took a M5 Comp. through a 1/2hr test drive, and although a different driving experience, it is a very refined and capable piece of machinery.  Out of the box, I believe, the M5 Comp. will take a stock GTR.  And at $110K, I'd consider it as an option next to a brand new GTR.

 

However, IMO, the GTR has much more potential if you intend to modify it.  And depreciation on the M5 is potentially scary...  I say scary because they do depreciate faster, but I don't know if it is because people tend to put more miles than GTR owner do to their cars?

[Mid-Life Crisis]

Enter 2021 M3 & M4 Comp. stage left at $72K & $74K base price respectively (I6/TT/AWD-503hp/442tq).  Available Jan-Feb 2021.  -- Just paid a visit to my local BMW dlrshp --

 

Just something to think about for those contemplating a used GTR for similar price.

 

As mentioned in one of my previous posts, I took a M5 Comp. through a 1/2hr test drive, and although a different driving experience, it is a very refined and capable piece of machinery.  Out of the box, I believe, the M5 Comp. will take a stock GTR.  And at $110K, I'd consider it as an option next to a brand new GTR.

 

However, IMO, the GTR has much more potential if you intend to modify it.  And depreciation on the M5 is potentially scary...  I say scary because they do depreciate faster, but I don't know if it is because people tend to put more miles than GTR owner do to their cars?

I think the new M3 and M4 Competition will be great for those that want a very track ready, quick and fast car, that can be an easy daily driver as well. And the price is certainly attractive compared to a used 2017 and up GT-R, where prices are high $70K to the $90K's for up to a used 2019. But for my money, the M3/4 Competition is not going to be a huge boost in performance compared to my current vehicle, a 2018 Cadillac ATS-V Championship Edition. The technology features will no doubt be much better in the M3/4. But long term, I'm still on a waiting list for a '21 C8 allocation, and rigtht now the estimate is that I would take delivery sometime next Summer. Early next Summer if GM plants aren't shut down again. And how I will configure a C8 will put my cost around $85K. Depreciation wise, it's hard to tell now how the C8 will depreciate but I'm planning to hold onto this for a while, as I'm getting closer to retirement.

[GTRick]

... And how I will configure a C8 will put my cost around $85K. Depreciation wise, it's hard to tell now how the C8 will depreciate but I'm planning to hold onto this for a while, as I'm getting closer to retirement.

The new C8 is a great car and a hot ticket at the moment but depreciation wise, it will fair like any other Corvette. In 4 years it will be worth roughly half, so mid forties. Keep in mind in 2025, normal production will have resumed and the C8 z06 will have been out for a while.

If you like the car and dont plan on selling it for a while, then no big deal. If you get the itch to flip cars periodically, might be better to wait a few years then pick up a low mileage show and shine C8 second hand.

[BlazeTastic]

Here in Texas, we have vinyl stickers for car windows that say, "Don't California My Texas". If the rear window on my GT-R were more vertical so people could see it, I'd have one too.   I purchased my '17 with the Alpha6 package, Cobb, and some nice extras (hood struts, CF intake cover, clear corner lens, window tint, full frontal PPF, ceramic coating, and LED tail lights) for $80k and 9k miles back in Jan, just before Covid hit, got lucky with the timing I guess.

 

Wife and I are building a new home a little farther away from Austin than our current home and since we signed with the builder, they've raised the base price of our model by $45k. That was just 3 months ago. Got lucky with the timing there too.

 

I just hope we continue to be this fortunate and remain healthy through the winter.

[2K11GT-R]

Know kbb is ok to use. Mines gone up 10k in value since June in my area. Definitely happy to see that. Anyone else check on theirs like that.
11 model with 21k miles immaculate condition naturally.

[GTRdean]

It is kind of crazy, I got a really strong trade on 15 on trade towards my 21.  Clearly the dealer has huge advantage because of the way the tax is handled in Florida.  I would've had to sell mine for about 75 to make up the tax difference.  It was super nice, unmodified, un-abused, new tires, front clip wrapped, all the fluids changed, 12k miles.  Thought I was going to keep it forever., then I saw the bayside blue 21...game over man   .    I probably would've listed it for like 78,500...but it's still a 6 yr old car with no warranty...it was tough for me to see getting that for it.  It was worth maybe 2-3k loss to me to not hassle with selling it private.  Guess I'll never know!   If someone want's a super nice GTR, I can hook you up with my sales guy in NC.  They should have the car in few days.

Edited by GTRdean, 12 December 2020 - 03:22 AM.

[gixy2k]

Prices continue to hold high and steady.

 

Maybe once the rates go back up things will change...

[rwheelz]

Yep I would not want to be buying right now. 

[GTRick]

It is kind of crazy, I got a really strong trade on 15 on trade towards my 21.  Clearly the dealer has huge advantage because of the way the tax is handled in Florida.  I would've had to sell mine for about 75 to make up the tax difference.  It was super nice, unmodified, un-abused, new tires, front clip wrapped, all the fluids changed, 12k miles.  Thought I was going to keep it forever., then I saw the bayside blue 21...game over man   .    I probably would've listed it for like 78,500...but it's still a 6 yr old car with no warranty...it was tough for me to see getting that for it.  It was worth maybe 2-3k loss to me to not hassle with selling it private.  Guess I'll never know!   If someone want's a super nice GTR, I can hook you up with my sales guy in NC.  They should have the car in few days.

 

I saw your car listed for like a day at ~$76k if I recall correctly.  I was surprised as they could have asked more in this market with low miles and that's not much more than they offered you on trade.  It sounded like a really nice car.  I thought about going over to look at it as I preferred my gunmetal GT-R over black maintenance ... but then I thought about trying to explain to people that I had a gunmetal DBA, then a black DBA the same year and then a gunmetal again.  Reminded me of the show Silicon Valley when big heads lawyer was going over how he waisted his money.. he paid to move his swimming pool further back in his yard, then realized it was just right in the first location so he paid to moved it back closer to the house, lol.  I came to the conclusion that there is nothing wrong with my car, it has only 9K miles now and I've paid the loan down a good bit.  Smart money is to either stick with what I've got for a bit or just sell it outright while market is hot since I never drive anywhere anymore.  Someone probably got a good deal on your car anyways.

[bova80]

is a 2014 Black Edition with 56k miles for $64k worth it?

[GTRdean]

 

I saw your car listed for like a day at ~$76k if I recall correctly.  I was surprised as they could have asked more in this market with low miles and that's not much more than they offered you on trade.  It sounded like a really nice car.  I thought about going over to look at it as I preferred my gunmetal GT-R over black maintenance ... but then I thought about trying to explain to people that I had a gunmetal DBA, then a black DBA the same year and then a gunmetal again.  Reminded me of the show Silicon Valley when big heads lawyer was going over how he waisted his money.. he paid to move his swimming pool further back in his yard, then realized it was just right in the first location so he paid to moved it back closer to the house, lol.  I came to the conclusion that there is nothing wrong with my car, it has only 9K miles now and I've paid the loan down a good bit.  Smart money is to either stick with what I've got for a bit or just sell it outright while market is hot since I never drive anywhere anymore.  Someone probably got a good deal on your car anyways.

 

I'm not surprised.  It's worth 76k IMO, because of the new tires and maintenance I did and general condition.  That being said, a lot of people won't factor that in..or see the value.  I would've had to get 75k to make it worth not trading it...for me it just wasn't worth dealing with the tire kickers.  The market is kind of crazy weird though right now...so who knows.   If you like your car and don't need the money...may as well keep it.  The dollar is going to shit, so just consider a less risky store of wealth than bit coin 

 

I almost traded it for a 2018 ford focus RS for the about the value of 72k for my car.....right before they decided to stop producing them and they all disappeared.  That would've probably been the better value move...but the wife was not going for it.  

 

I love the 21 it's so refined, probably won't get driven much but I enjoy walking past it in my garage everyday.