Mileage depreciation of Diablos | LamborghiniChat
News

Mileage depreciation of Diablos

Discussion in 'Lamborghini Discussion (not model specific)' started by ItaliCar, Apr 4, 2005.

  1. ItaliCar

    ItaliCar Rookie

    Nov 17, 2004
    23
    I understand that several factors are involved in the value of Diablos (as noted by the B-J Auction thread) but I would like to know how the overall mileage affects the value. Most cars I see advertised are very low mileage (ie 3-7K). Obviously the higher the mileage the lesser the resale value but do you look at a-buck-a-mile depreciation, that is, if a car that has 10K miles on it you would reduce the target value by $10K?
    Dave
     
  2. 6.0 se

    6.0 se Formula 3
    Lifetime Rossa

    Mar 26, 2004
    1,721
    Atlanta,ga. area
    Full Name:
    A.J.
    It is HUGE when talking about Diablo's. I like the $1 a mile rule myself, and find this to be faily close to values. Example: A 4000 mile 99sv may be priced at 145-146k, and a 14000 mile 99sv may be 135ish. It is a rule of thumb, and not to be used with extremes on both ends, but a nice barometer for sure.
     
  3. ItaliCar

    ItaliCar Rookie

    Nov 17, 2004
    23
    Thanks for the reply.

    I'm still trying to figure the value of these cars (I'm LOOKING at '99 roadster or 6.0) and the prices seem to be all over the place. The major variable seems to be the mileage.
    I want to drive the car I get.
    My thoughts are split. Should I get a low mileage car and put 3K per year and roll the car in a few years (apparently no one hangs on to these cars for very long) or should I get a higher mileage car at a lower price and drive it knowing the value has basically bottomed out anyway. Tough call for me.
     
  4. bentasm1

    bentasm1 Formula Junior

    Jun 7, 2004
    415
    As much as the rule is true, it's totally dumb. Higher miles on an older car indicates a car that has not rotted out. Why pay a premium for a car that has sat there? Nobody can explain this one to me, yet everyone does it. :)

    -Ben
     
  5. DodgeViper01

    DodgeViper01 Formula Junior

    Oct 1, 2003
    260
    New Jersey
    Full Name:
    Woods
    Ben I feel the same way. If the car was taken care of well but was driven, I would prefer that car over one that has sat for years and been driven only a handful of times.
     
  6. sk90077

    sk90077 Karting

    Jun 25, 2004
    156
    If its been serviced properly with one or two owners that knew each other than I agree. The reason I like lower mileage cars is because there is less wear and tear on the interior, Transmission, drive train etc.. I would rather pay to fix the stuff when it’s sitting around than fixing something the previous owners had or can potently have.

    That’s just my feeling on it.
     
  7. ItaliCar

    ItaliCar Rookie

    Nov 17, 2004
    23
    OK, we are talking about cars that are 4-6years old. What do you deem as acceptable in terms of "high mileage" when considering purchasing? Is 20K out of the question???
     
  8. 6.0 se

    6.0 se Formula 3
    Lifetime Rossa

    Mar 26, 2004
    1,721
    Atlanta,ga. area
    Full Name:
    A.J.
    I wouldn't buy a Lambo with 20k. Too many unanswered questions with that mileage. Its had a lot of use, maybe good, maybe not. Alot of guys talk about how they would rather a high mileage car because "it hasn't been sitting around, rotting". That's nonsense. Ask that same guy to step up to the plate and pay big $$$$ for a high mileage car. Not going to happen. What they really mean is that they would prefer the 20k savings on a high mileage car to paying the premium for a "cherry". Low usage problems don't come into play unless you are talking 4-6 year old cars with 1000 miles or less on them. This is opinion only, and a bit of experience with low and high mileage Lambo's.
     
  9. lamborghinikid

    lamborghinikid Karting

    Oct 22, 2004
    116
    Georgia
    Full Name:
    Jeff Haney
    I like to buy cars with decent low mileage but the final barometer is the car itself. I do set a pretty low limit on the mileage that I consider but there are a lot of factors that go into wear of a car and its price. Take me for example. I do not jump in my car and drive it to the store , to get something to eat, or to Wal Mart. When I drive my car it is usually for a purpose. A car show , to get out and spend the day in it , ETC. Therefore I might get in and exit my car 2 times all day and put 75 miles on it. Someone else might drive there car everyday all week . They might put 5 miles a day and get in and out , start there car , turn off there car , stop , and go there way to 75 miles like I did but take all week to do it and put a lot more wear and tear on the car. The miles sometimes do not tell the "life" of the car. I have seen 3K mile cars with the bolsters worn so bad they looked dry , carpet frayed, interior nicked up bad, in and exit dash rash so bad that you needed to recover it, ETC. I have seen 10K mile cars that looked like they were brand new. As the buyer I am looking for that owner that has considered every aspect of the car with every mile they have driven it. Example ...Would I buy a 6.0 Diablo with 25K on it in great shape for $160K ? NO . Would I buy a 6.0 with 3k on it with minor or questionable issues for $160K? NO . I prefer buying the 6.0 in great shape with 5k on it for $180. There are some that are shopping for the bargain and there are some that are shopping for a good car and within that , you will get you price differences !
     
  10. 6.0 se

    6.0 se Formula 3
    Lifetime Rossa

    Mar 26, 2004
    1,721
    Atlanta,ga. area
    Full Name:
    A.J.
    I agree 100%. But generally speaking, mileage = wear, wether internal or external. Its like a woman.............forget it.
     
  11. LAfun2

    LAfun2 Karting

    Oct 31, 2003
    223
    California
    Full Name:
    Ryan

    AJ,

    IN a few years when some of us start looking at 6.0s, should we not consider cars with 20k?

    So if I get a 6.0, I shouldn't drive it, becuase it can never be sold?

    Are these diablos more finicky than F cars?

    I mean whats the fun if I cna't drive it?

    Also, do you seee the long term reliability of the 6.0 diablos? are there examples of high mileage diablos?

    i know there are 550s with 40-50K miles all day. sure a 6.0 is not a 550, but can you compare reliablity/long term high mileage?

    Would appreciate your thoughts.
     
  12. ItaliCar

    ItaliCar Rookie

    Nov 17, 2004
    23
    So basically a Diablo at 14K (and I've looked at a few) has a limited marketable life span, maybe two - three years. Which would explain why I haven't seen ANY cars with mileage beyond that. After a few years, if you roll the car, you cannot expect to get much in return or you're in for a long term relationship with this older "lady".
    -Dave
     
  13. LAfun2

    LAfun2 Karting

    Oct 31, 2003
    223
    California
    Full Name:
    Ryan

    So do people not drive them, or tamper with the miles?
     
  14. 6.0 se

    6.0 se Formula 3
    Lifetime Rossa

    Mar 26, 2004
    1,721
    Atlanta,ga. area
    Full Name:
    A.J.
    Ryan,
    You can drive the living pzzz out of it. And it will stand up to the battering. And you will sell it, but the price will be reflective of the extensive use. It is no different than any F car. But you must look deeper into the end use of MOST F car owners and Lambo owners. High mileage is more a norm on F cars, not because they are cheaper to maintain or more dependable. The average Lambo owner has been there. A lambo is an "experience" to drive and use, but not to be over used. When I had both F and L, and my F was a TR at that time, I put much more miles on the F car than the Countach. The Countach usage was specific. Not sure if you are with me here, but Lambo's have lower mileage because the owners enjoy it that way, generally speaking. The 550 with 40-50k will be priced accordingly, to the 550 with 4k. I have seen many Diablo's in the 30k range. I have owned Diablos with 30k. No issues, no problems. Just exotic car wear and tear. The Diablos are not more finicky. Drive them if thats what you desire, but be prepared to take the appropriate beating for that usage.
     
  15. ItaliCar

    ItaliCar Rookie

    Nov 17, 2004
    23
    I suspect, with the exception of the reputable dealers discussed within this forum, there is a fair degree of tampering going on.
    -Dave
     
  16. LAfun2

    LAfun2 Karting

    Oct 31, 2003
    223
    California
    Full Name:
    Ryan

    Thank you for the info AJ. I am from the school of thought, if I buy it I drive it (granted I have time). I put over 11k miles on my TT. Sure selling it will show me the cost of the miles, but I have enough living room decorations, that I don't to do that with my cars.

    I do understand that the L is an experience. And in order to experience that in the future, I am learning as much as possible.

    I am completely with you on your post. THanks for the info.

    Now before I get one, obviously I have to come to ATL, to get the basics on lambo clutch use, you told me about a long time ago. :)
     
  17. LAfun2

    LAfun2 Karting

    Oct 31, 2003
    223
    California
    Full Name:
    Ryan

    That sux :(
     
  18. 6.0 se

    6.0 se Formula 3
    Lifetime Rossa

    Mar 26, 2004
    1,721
    Atlanta,ga. area
    Full Name:
    A.J.
    Absolutely. I look forward to the day my Friend!!
     
  19. 6.0 se

    6.0 se Formula 3
    Lifetime Rossa

    Mar 26, 2004
    1,721
    Atlanta,ga. area
    Full Name:
    A.J.
    I remember the 6.0 that had 30k on it, for sale last summer. It ended up selling for 135k, when an average low mile car was going for 165-170. Did that owner get 30k enjoyment for his 30k usage? NO DOUBT. You can always sell the car, there is no window. The question is, am I willing to pay for the enjoyment? That guy was. For me, it is more of the experience. I plan my usage more, with specific agendas. Do I have less "fun" than the guy who put on the 30k while I put on 2k? No.
     
  20. LAfun2

    LAfun2 Karting

    Oct 31, 2003
    223
    California
    Full Name:
    Ryan
    AJ,

    Buying in CA a hefty sales tax will have to be paid on a 180K car. You better be sure I will keep it a while and enjoy it :)

    I will probably lose more money on sales tax, than I would on the mileage used on the car :eek:
     
  21. lamborghinikid

    lamborghinikid Karting

    Oct 22, 2004
    116
    Georgia
    Full Name:
    Jeff Haney

    Hey ryan , if your in town drop me a line too ! Me you and A.J could meet up. We could stroll in my 6.0 and A.J's murci ! Would be fun !
     
  22. ralfabco

    ralfabco F1 Rookie
    Lifetime Rossa

    Mar 1, 2002
    3,575
    Dixieland
    Full Name:
    Israel Beiteinu
    Ryan:

    There are some hi mileage cars out there. I saw around a year ago, in the D.R., a yellow 02 Murcie with around 30K miles on the clock. I know the 02 Murcie clock, is in KM. I think the dealer converted the KM to miles ? A R.R. dealer was listing the car. People are driving the later Lamborghinis "more" these days. The cars have become much more refined. - ( I think that is unfortunate ) Understand that todays L-cars, have more headroom, and elbow room. The cars have shocks that raise the vehicle. The A.C. actually works !!!! You can see out of the car. The road warrior rap is fading away.


    You will "always" be able to find a low mile car; if that is what you want. If you drive it, it may make better economic sense, to find a car that has already been driven. There is not much drop to go from a 20K mile car, to end up with a 30K mile vehicle. In other words buy at 20, and sell at 30 after a year or two. The car already lost quite a bit with the "first" 20K miles. There is always a market for the bottom level exotic. Example: LoD had a yellow 6.0 with hi miles, that was a repo car with some mechanical issues. The car had an asking price of 125K about a year and a half ago. The car was gone in about two weeks. - They never even advertised the car. The owner can play with the car for a year or two, and get out o.k., as long as he does not get burned with the maintainance.

    Sales tax ? There are legit ways to avoid this. Every state has different laws. Talk to the abagado in S.F., with the yellow 360.
     
  23. LAfun2

    LAfun2 Karting

    Oct 31, 2003
    223
    California
    Full Name:
    Ryan

    Hey Jeff, thank you for the kind offer. Won't be for a while, but rest assured I will be there, and will let you guys know, when I do. :)
     
  24. LAfun2

    LAfun2 Karting

    Oct 31, 2003
    223
    California
    Full Name:
    Ryan
    No Murcie for me, 6.0 only. Headroom and elbow room shouldn't be a problem for us "little people" :D


    Thanks for the info. I am kinda scared to look at 20K cars. AJ always talks about how he wouldnt touch one of those with a ten foot pole, becuase Lambos have hard lives. Just trying to soak it all in right now, since I wont be in the market for a while. I need 2 TT money for 1 lambo, and I ain't rolling like Ralphie here, so I gotta need some time. :D

    I know the ways around the sales tax. CA has some new laws so that we can't play the games anymore. Thanks to many abogados out there!
     
  25. 6.0 se

    6.0 se Formula 3
    Lifetime Rossa

    Mar 26, 2004
    1,721
    Atlanta,ga. area
    Full Name:
    A.J.
    Hey Ryan. I didn't say that Lambos had hard lives. I compared them to any exotic. I said that most Lambo owners tend to keep the miles low, because of the intended use of the car. I said I would not buy a 20k car, because it makes ME uncomfortable. You have a much better shot at getting a great car if the miles are lower. Miles=usage=wear and tear=unknown entities and history. Thats me, and my experience. I do believe Lambos are driven harder than your normal F car, but then they are made to be driven hard. They stand up to it for the most part.
     

Share This Page