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Murcie Questions - Depreciation & Warranty

Discussion in 'Lamborghini Discussion (not model specific)' started by Doody, Jul 8, 2004.

  1. #1 Doody, Jul 8, 2004
    i'm very very casually kicking around the idea of getting a murcie. there seem to be plenty of them on dealer lots.

    what i'm trying to figure out is what the depreciation curves look like. these things list in the 280s and 290s. 2003s seem to sell in the 250s - some lower. this is suggesting something like 15% to 20% in year one. what's year two likely to look like?

    my understanding is that the cars have two year warranties and that's that (federal emissions stuff aside). do they offer any extended "pre-owned" warranties like ferrari is doing now? i assume some of the 2003s on the market for short money are early 2003 models that are going to come out of warranty fairly soon.

    any info or guidance appreciated.

    thanks,
    doody.
     

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  2. #2 bentasm1, Jul 8, 2004
    The depreciation curve on a new autombile is the same on a Murci as it is on a Dodge Neon in regards to percentage of depreciation. Only difference is in year 3 or 4 where the Neon continues to become worthless the Murci will hold its ground and only lose a few percent per year.

    As for warranties -- 2yr/24k and that's that. Lamborghini has no extended warranties. The only company I know of that offers extended warranties is the one I own -- The Exotic Warranty Company (www.exoticwarranty.com). Note the bias, that I own it.

    Hope this helps,

    -Ben
     
  3. #3 Juice It, Jul 8, 2004
    I would argue that an exotics depreciation depends on the car, and can't be compared to "all cars" ie a 360 spider. It does seem however that once the initial hit is gone, the murci is falling a little slower than say a 550.
     
  4. #4 Doody, Jul 8, 2004
    not sure i buy the dodge neon argument. it looks like a murcie depreciates 15% in a year, while i'm sur ea neon depreciates 15% the second you drive it off the lot. and the second year depreciation on a neon is probably serious as a heart attack.

    curious to know (A) if folks think the 15%-20% year one number is rational and (B) what folks think year two numbers might smell like.

    on the warranty side - i'm bummed to hear lambo isn't doing something like ferrari is doing - but i guess i shouldn't be surprised.

    ben - i assume you write murcie warranties - what's the rough cost for a two year warranty for a 2003 that comes off factory warrantay, say, next month (ie: 07/02 production date)? roughly speaking, of course.

    ciao,
    doody.
     
  5. #5 6.0 se, Jul 8, 2004
    In looking at 02/03 prices, my estimate would be 21-23% for 2 years. Maybe 13,14 the first,, 9/10 the second.
     

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  6. #6 Prancing 12, Jul 8, 2004
    Just an idea... if you want to know what 2-year deprechiation looks (or "smells") like, look at 2002 models.

    You seem to be on track. 2003s are listing around $230k-$240k.

    It seems 2002 are running at another 10-15% off again, in the $205k-$220k range.
     
  7. #7 6.0 se, Jul 8, 2004
    As I said, lets take a 215 # for a nice 02. Thats 67k in 2 years. 23%.
     
  8. #8 wings, Jul 8, 2004
    As they say in the stock market, past performance is not a guarrantee of future performance. What a 04 Murci will be worth 2 or 4 years from new is completely dependant on what a buyer will pay at that time. World events, economic considerations, etc can all serve to effect the value of these cars. Basicly, get ready for the $40K drop the minute you drive it off the lot (new) and hang on for the rest of your ownership. When the time comes to sell, the truth will make itself known. What will be will be. Just enjoy the ride and don't worry about it. If it becomes a big concern then do not buy it. Perhaps your not financially ready for it. Enjoy the ride!
     
  9. #9 Doody, Jul 8, 2004
    point taken wings re: 02 to 04 -vs- 04 to 06. and i'd further argue that it might not require nasty world events or economic changes - new cars coming out and who knows what else might just disinterest folks in the murcie. one never knows, for sure.

    but i'm afraid that doesn't work in my spreadsheet ;)

    the bad news is that i can afford it. the question is whether i should buy it. since i don't keep cars that long, part of my calculus by necessity is the depreciation projections - for comparative purposes. the boss will likely blow a gasket if i get a murcie AND a 575M Spider (assuming they come to pass), for example - so math and projections are de rigeur. plus, it's kinda fun to "what if" when i'm bored :)

    now we return you to your regularly scheduled math!

    i put a spreadsheet together with 32 murcies i found listed online (most at auth dealers). 4 2002s; 15 2003s (including 4 of those hideous anniversary editions); and 13 2004s, all but two of which (???) seem to be brand new (that smells like oversupply to this boy). here're the average asking prices (with the 40th edition cars pulled out of the mix):

    2002 --- 230,075
    2003 --- 265,509
    2004 --- 286,364

    which shows 7% and then 13% for a net 20% (rounded). if you use minimum asking for the cars for that year (instead of average for the group) it inverts to 15% and 5% for a nearly identical 20% (again, rounded).

    so pick a delta of asking -vs- selling and tack it on and that's that. 25% seems to be a reasonably conservative estimate. the difference between the highest 2004 asking and the lowest 2002 asking is 25.6%. i'd guess 30% is an outside number (thus far).

    hope that's all at least entertaining if not informative!

    doody.
     

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  10. #10 Texas Forever, Jul 8, 2004
    Doody, I figure that a 2001 550 Maranello is worth about 67% of sticker. This assumes that the car has had its service and qualifies for the extended warranty program.

    Even I can do this one without a calculator -- 33% in three years.

    Right now, you can buy 2003 575 F1 Maranellos with less than 5,000 miles for between $195 and $205. These cars had a sticker of $235K.

    However, this is deceptive because you can buy brand new 575 F1s for, say, $225k. This is a car with a $245 sticker. This up-front discount, of course, softens the depreciation blow.

    The only reason for mentioning all this is not to say that a Maranello is a better deal than a Murcie. Let's face it, all these cars are a bad deal!

    Somehow only the 360s have defied the laws of gravity. Every thing else depreciates like keys falling out of a Lear jet.

    If if were me, I'd consider either a walk-away lease or a open-end lease with a high residual value of say 70%. At least this way, you know what your nut is on the front end.

    But frankly, I'm surprised that a Boston Blueblood like yourself would even mention the topic of money. :)

    Dale
     
  11. #11 Doody, Jul 8, 2004
    ROTFL!

    you hit the nail on the head, my good man. if i were actually a boston blueblood, then i wouldn't have brought up the topic of money! i just would have called grandma's accountant to have him cut a check ;)

    doody!
     
  12. #12 6.0 se, Jul 8, 2004
    Very entertaining. I think 31-33% for 3 years is right on. 14-10-8
     
  13. #13 bentasm1, Jul 9, 2004
    Doody -- We do write a lot of Murci contracts. I make it a personal policy not to quote price and thus business on message boards that we don't pay some sort of advertising on, so if you want more info just give us a buzz @ 888-748-9666. I'm @ x103.

    -Ben
     
  14. #14 AEHaas, Jul 9, 2004
    If you are basing your next car purchase only on depreciation, buy a Lexus. They seem to hold up well.

    If you want a super sports car that gets 100 percent of attention when it is out of the garage, then get a Murcielago.

    If you have to count pennies you cannot afford it.

    aehaas

    PS The Maranello and Murcielago look REAL GOOD together!
    PPS The Murcielagos are holding up very well. No major isssues.
     
  15. #15 Doody, Jul 9, 2004
    ime, lexi depreciate just as much as any other car.

    doody.
     

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