Wednesday, February 24, 2010

Looking for the latest in performance? Buy a used car.

PriceHub Guest Blogger: Haider Nazar
Twitter: @haidernazar

The global economic crisis has had far-reaching effects on our economy, buying habits and overall way of life. From a consumer standpoint, we have seen many new premium product launches focused more on cost-cutting vs significant improvement in performance. What do these trends mean for you, the car guy? Historically, car fanatics are used to measuring innovation with specific metrics like 0-60, ¼ mile, lb-ft torque, horsepower, cubic inches and top speed.

For 2010, most new car launches are focused on Green Tech vs traditional interest like horsepower. Now I am not an anti-earth guy, but these trends do represent an interesting opportunity for used performance car shoppers. Used car prices have been dropping like an anvil recently. This dramatic price fall is on the heels of an unprecedented performance war that has taken place from 2003-2008. This performance innovation has been the result of many manufacturers participation in Formula 1 and other performance focused R&D initiatives. Bottom line, there are some amazing performance bargains on the used car market…some still under manufacturer warranty.

Deals of 2004-2007 (Current Price/New price/Depreciation)

2006 BMW M5, $38,000 (sold new for $98k, 63% depreciation)

The latest M5 represents the pinnacle of Formula 1 race bred technology filtering down to production. This high revving naturally aspirated V-10, 7 speed SMG transmission, trick suspension 507 hp beast is capable of launching to 60 in 4.2 seconds. This car drives frustrating at 5/10, but flat out, there is arguably no other car as entertaining and awe-inspiring. All for the price of a new BMW 328i.

2007 Merecedes AMG e63 $42k (sold new for $112k, 63% depreciation)

A rival to the M5, its hand built 507 hp engine has a tree stump pulling 465 lb-ft of torque. This car has more raw power than a Ferrari F430, Porsche 911 Turbo or Lamborghini Gallardo. And it is yours for the price of a brand new Honda Pilot.

2004 Porsche 911 Coupe $32k (new $85k, 62% depreciation)

The 911 is THE quintessential sports car. Over its illustrious 50 year run, it has been refined and honed into one of the best sports car money can buy. Historically, it has also been one of the least depreciating. The previous generation 996 body, although not considered one of the more classic designs, is still a 911. It’s 320 hp flat 6 engine is good for 0-60 runs of 4.8 sec and a 12.5 second ¼ mile. It is yours for the price of a brand new Subaru Forrester.

2004 BMW M3 $22k (new $56k, 61% depreciation)

The ultimate street racer, track car and family sedan all rolled into one, it’s 333 hp inline 6 is the perfect blend of speed and practicality. It is also relatively efficient. With the next generation of M products replacing core brand values like high revving naturally aspirated engines with turbocharging and hand built chassis for mass produced platform sharing, this car represents a lot unique car for the money. It is yours for the price of a brand new Honda Civic

2005 Acura NSX $48k ($115k new, 57% depreciation)

The Acura NSX was a car of firsts. It was the first production car to feature aluminum construction for its body structure, body panels, suspension and engine. Its engine was the first to feature variable valve timing and a variable-volume intake manifold. It was the first Japanese sports car sold in America to truly go head-to-head with the world's best. Its 290 hp, sweet shifting 6 speed manual transmission was smooth, quick and reliable. All your for the price of a new Infiniti G37 coupe.

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Anonymous said...

What a great resource!

Anonymous said...

this is some great insight

Anonymous said...

Hello. My wife and I bought our house about 6 months ago. It was a foreclosure and we were able to get a great deal on it. We also took advantage of the 8K tax credit so that definitely helped. We did an extensive remodeling job and now I want to refinance to cut the term to a 20 or 15 year loan. Does anyone know any good sites for mortgage information? Thanks!


Unknown said...

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With any certified pre-owned program, it is important to note who does the actual inspection and reconditioning repairs, if any. Both OEM and dealer-certified program vehicles are typically inspected by employees of the selling dealer- not by the manufacturer as may be assumed. Independents may employ a disinterested third-party inspector to ensure objectivity, or may allow the dealer to inspect their own vehicles.
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