Ex Livery fleet '17 Continental.
Remember that these could be optioned to $70k.
In another thread someone mentioned ex livery vehicles taking a hit in these times.
I've seen the criticisms of these vehicles and am aware of their humble origins but at that price it seems like a halfway decent deal.
Damn good looking car. Arguably the best looking sedan sold in 2017.
But the title of your thread ignores the income generated from it!
Oh yeah.
I know that the specimen above probably made the investment back.
But it's a tongue in cheek title not click bait.
mtn (Forum Supporter) said:Damn good looking car. Arguably the best looking sedan sold in 2017.
But the title of your thread ignores the income generated from it!
My first thought was "Damn, 200k miles in 3 years?!"
My second thought was "I wonder what the financial math looks like to justify buy/feed/insure 3 $70k vehicles (with each one seeing $60k in depreciation ) and pay at least 3 drivers for 3 years"
In reply to STM317 :
The yearly World Bank meetings probably cover a year of everything.
Kinda like St Patrick's day and Irish bars.
Well, figure the car is depreciating 20k annually, and the driver gets $20? Per hour. That $20/hr is more like a 60k annual expense after benefits or unemployment insurance or social security taxes etc.
Plus other expenses I'd say you're at 100k/year per car easy.
So, if your revenue is $50/hr or more you're in the green.
And 60k miles per year times .555 mileage rate gives you a not insignificant tax break. Assuming the tax break is your only "profit", that means you make $30k annually on a $70k investment, which you may have been able to leverage most or all of anyway.
Not bad.
Btw, the above is why driverless cars are such a big deal. If you remove the $60k annual driver expense, the numbers look really good really fast. With a driver the expenses are 1.66 $/mile.
Driverless, the expenses are a full $1/mile less.
I think exotic car buyers would be over the moon if their new Ferrari, Lamborghini or Mclaren only lost $35K in three years. Some of these cars are losing that much in depreciation just by driving them out of the dealership.
nderwater said:I think exotic car buyers would be over the moon if their new Ferrari, Lamborghini or Mclaren only lost $35K in three years. Some of these cars are losing that much in depreciation just by driving them out of the dealership.
We also don't make money owning them like this guy did. Uber black alone on one of these with that many miles would pay for the car many many times over and still pay you an hourly.
In reply to wearymicrobe :
I'm willing to bet that your Spyder will be nearly immune from depreciation, though.
Fleet owners also can write down the depreciation losses when they file taxes. I bet you many Mercedes Benz S Class or BMW 7 Series owners wish they could do that.
Good looking cars, but I wonder how many drunk girls threw up in the back seat on prom night. 
In reply to stuart in mn :
wearymicrobe said:nderwater said:I think exotic car buyers would be over the moon if their new Ferrari, Lamborghini or Mclaren only lost $35K in three years. Some of these cars are losing that much in depreciation just by driving them out of the dealership.
We also don't make money owning them like this guy did. Uber black alone on one of these with that many miles would pay for the car many many times over and still pay you an hourly.
McLarens depreciate like a rock because they make too many of them. Ferraris generally don't do that though -- they limit the supply and supposedly many of the models will sell for substantially more 1 year old used than they did new.
In reply to codrus (Forum Supporter) :
That's very true of the low-production specials (Pista for example) but not of other models. The GTC4Lusso loses over $50K in its first year.
When I was shopping for my current daily driver, I found a 2017 Cadillac XTS for a bit less than what I paid for my Passat. It had been doing limo duty and had about 200,000 miles on the clock. I decided to pass, but it was definitely tempting.
When I bought my 05 Phaeton in 08 it had 32K on the odometer and had depreciated from $72K down to $24K.
Drove it to 69K miles over the next 3 years and unloaded it for $20K even. Probably the most successful Phaeton ownership in history.
I thought this was going to be a thread about racing budgets...
APEowner said:I thought this was going to be a thread about racing budgets...
That would have been:
normally 200,000 miles is close to throw away status ,
are these known to go 300,000 miles ?
it just seems that all the value has been driven out of it , and now you are just looking at a lot of repairs and things just falling off !
But you do look cool in some parts of town ..............
KyAllroad (Jeremy) (Forum Supporter) said:When I bought my 05 Phaeton in 08 it had 32K on the odometer and had depreciated from $72K down to $24K.
Drove it to 69K miles over the next 3 years and unloaded it for $20K even. Probably the most successful Phaeton ownership in history.
How did it do on maintenance/problems?
APEowner said:I thought this was going to be a thread about racing budgets...
Right?
I was also thinking of how easy it must be to turn a $45K Mustang into a $10K wreck within three seconds of leaving a car show.
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