JD6
Tyre Kicker
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- Drives
- BMW 840i GC
I do wonder if we're in for a rerun of what happened to the car market during the oil price spike / financial crisis in 2008 where inefficient cars in particular take a major hit. Oil approached $150.
I had a 2004 4.4 X5 at the time which had quite a drink habit - around 19mpg. The best offer I could find for the car from a dealer in 2008 was £12k. Bearing in mind this was a £60k list (£50k discounted price) car with about 35k miles on the clock. I couldn't bring myself to sell at that so hung on for 3 more years until 2011 and sold it for £11k with 55k miles on the clock. An impressively flat depreciation curve after the initial fall...
I had a 2004 4.4 X5 at the time which had quite a drink habit - around 19mpg. The best offer I could find for the car from a dealer in 2008 was £12k. Bearing in mind this was a £60k list (£50k discounted price) car with about 35k miles on the clock. I couldn't bring myself to sell at that so hung on for 3 more years until 2011 and sold it for £11k with 55k miles on the clock. An impressively flat depreciation curve after the initial fall...