[autoart]

When I was looking for a car, I would always see cars that were 6 months old and say 7,000 miles. I would wonder if they were demo's or after a short time the owners changed there minds, and why.
So lets here your story about why you changed cars so fast.

[apc3libras]

I have also wondered this. For example, at the local Carmax there is a 2013 M6 for 3k miles for $99k. Crazy.

[yarviinn]

Originally Posted by autoart

When I was looking for a car, I would always see cars that were 6 months old and say 7,000 miles. I would wonder if they were demo's or after a short time the owners changed there minds, and why.
So lets here your story about why you changed cars so fast.

Because we change cars like how girls change clothes.

[fazman]

Originally Posted by apc3libras

I have also wondered this. For example, at the local Carmax there is a 2013 M6 for 3k miles for $99k. Crazy.

Car dealers pay no tax, some dealer pulled the trigger to get some volume discount/promo and then just did a "demo" drive of the car. Even tho the cars will sell for less money... You can bet that those cars will STILL sell for more than cost new (but as a used ride). I like to use those vehicles advertised selling prices to gauge where a comparable new car should be valued at.

[Bakeme521]

I don't even know what is going on.

[jaykayelemenohpee]

I bought a year old car with 7k on the clock. It was a managers car.

[Desert_Fox]

It's nuts when you look at higher end cars at certain exotic dealerships. Bentley CGT's and Aston DB9's with sub 1000 miles. Usually a surgeon or high level executive who doesn't care about the 20% hit and wants something different.

[shata]

Ya thats how I bought my wife's jeep compass 32k on clock, Why would you sell it...still under warranty. Eh ill take it - off lot price already dropped plus warranty haha. Its reliable and I dont have to worry about atleast her car. Mine has been good but there is always something to do on bmw lol.

[williamf]

My educated guess is that somewhere between 6 months and 12 months of ownership is when reality starts to set into those folks who really could not afford the lease payment or car note and then let it get repossessed. I would bet that the repo rate is between 10% and 15%. This adds up to a lot of low milage cars for resale.

[abgs87]

Originally Posted by williamf

My educated guess is that somewhere between 6 months and 12 months of ownership is when reality starts to set into those folks who really could not afford the lease payment or car note and then let it get repossessed. I would bet that the repo rate is between 10% and 15%. This adds up to a lot of low milage cars for resale.

This is probs more accurate! Or they get them, and once the novelty has worn off decide they don't want to be paying the high monthly finance rates!

[AndyR83]

I owned an Audi TTS for about 8 months in 2011. I just couldn't stand it, and didn't care how much of a loss I took getting rid of it.

[Titanium3er]

Originally Posted by shata

Ya thats how I bought my wife's jeep compass 32k on clock, Why would you sell it...still under warranty. Eh ill take it - off lot price already dropped plus warranty haha. Its reliable and I dont have to worry about atleast her car. Mine has been good but there is always something to do on bmw lol.

I don't think he's talking about cars with 32k. That's pretty standard mileage for a 2 - 3 year old car.

[tony20009]

Originally Posted by williamf

My educated guess is that somewhere between 6 months and 12 months of ownership is when reality starts to set into those folks who really could not afford the lease payment or car note and then let it get repossessed. I would bet that the repo rate is between 10% and 15%. This adds up to a lot of low milage cars for resale.

That's what I would have thought as well.

Not directly related but...
Fortunately, folks being allowed to buy more car than they should doesn't have the same economic affect as lenders doing that with houses. I'll never forget my amazement when my secretary told me about the house she and her hubby had bought back in 2006: a lovely $680K, 3,800 sq ft, four bedroom colonial in a new subdivision. This for two people with a household income just around 100K and, in relation to the home's price, what one would say was, for all intents and purposes, no down payment. She lives a still charming home now, but not the one she bought in 2006.

Not sure just what it is about the USA that inspires folks to feel compelled to live beyond their means/station. Outright poor, car poor, and house poor are all the same states of existence: poor.

[shadow191]

IMO, this happens more in the higher end market or weekend car market. You never see a Camry being sold 6 months later with 5k on the odo. I do have several friends who tend to keep their cars for less than a year. They all have really good incomes and they just like trying out new cars. They have the disposable income to do it. One guy went through an M3, R8, M6, and 911 Turbo in 3 years or so. Another friend is owns 5 cars at any given time and buys/sells them on a whim. He just loves cars (not all are new, some are classics, some are weird). Right now he's planning to sell his GTR, it's got 4k on it and it's an '11. On top of that, he's the second owner. He bought it on a whim when his R350 was getting serviced at the dealer. Some old guy had bought the GTR, but decided it was too uncomfortable a few months in. So my friend traded in his R350 on the spot and bought the GTR, total impulse thing.

[MrPig]

Originally Posted by tony20009

That's what I would have thought as well.

Not directly related but...
Fortunately, folks being allowed to buy more car than they should doesn't have the same economic affect as lenders doing that with houses. I'll never forget my amazement when my secretary told me about the house she and her hubby had bought back in 2006: a lovely $680K, 3,800 sq ft, four bedroom colonial in a new subdivision. This for two people with a household income just around 100K and, in relation to the home's price, what one would say was, for all intents and purposes, no down payment. She lives a still charming home now, but not the one she bought in 2006.

Not sure just what it is about the USA that inspires folks to feel compelled to live beyond their means/station. Outright poor, car poor, and house poor are all the same states of existence: poor.

People stop thinking when they can get credit so easy. 0 down, 40 year mortgages is/was insanity. But that's way OT.

[aquajon]

Steve Jobs use to get a new Mercedes every 6 months.

[CarEnthused]

Originally Posted by aquajon

Steve Jobs use to get a new Mercedes every 6 months.

Are you sure? I only saw him use the one SLS (I think it was). He also wasn't required to run a license plate.

[Mayuri Krab]

Originally Posted by williamf

My educated guess is that somewhere between 6 months and 12 months of ownership is when reality starts to set into those folks who really could not afford the lease payment or car note and then let it get repossessed. I would bet that the repo rate is between 10% and 15%. This adds up to a lot of low milage cars for resale.

This

I took a loan of $13.5k AUD (along with my own $25k) to buy my 335i & 2 month in $$$ is getting to be a PIA especially with major maintaince items coming up for the car itself (needed 4 new brake pads + rotors soon + I suspect I needed spark plugs & a carbon cleaning done too = big $$$).

Luckly I took the loan from my parents & they don't charge me interest & said I could take 5 years to pay them if I needed.

[aquajon]

Originally Posted by tylerwillingham

Are you sure? I only saw him use the one SLS (I think it was). He also wasn't required to run a license plate.

He got a new same model car every 6 months. He also never put tags on (although was required to).

[tony20009]

Originally Posted by aquajon

Steve Jobs use to get a new Mercedes every 6 months.

Steve Jobs could afford to get a new anything he wanted every six months.

Out of curiosity, did you share that fact with us because you saw him posting on the MB forum to solicit buyers for his six month old cars?

[theblackmamba]

Originally Posted by aquajon

He got a new same model car every 6 months. He also never put tags on (although was required to).

I guess he switched the game up when he got his LFA?

[Matts435coupe]

I personally get bored and like to switch out cars once or twice a year. I usually end up back in some variation of a 3 series coupe, maybe with a different color and options. Often I even get a better deal then the last one and it is fun to change things up.