Maserati Forum banner

1 - 18 of 18 Posts

·
Premium Member
Joined
·
1,646 Posts
Discussion Starter #1
With the COVID pandemic continuing to ravage the USA, people are scrambling to buy used cars, from what I read. The average sale price of used cars went up by 16% in July alone. Yet, the sale prices of our cars continue to spiral down into a black hole.

In Fall of 2016 (4 short years ago), the asking price for my 2005 Quattroporte with 40+K miles was $29,000, and that was the cheapest in the area from a private seller. I managed to get it for $23K. All dealers selling even the early QP V models were asking more than $30K if the mileage was under 50,000.

Fast forward to now, there is a really prime looking 2012 QP S with just 34K miles at a nearby dealership, asking price is only $25K. This car is 7 years younger than mine (do the math!), but it's been only 4 years since 2016, and times have changed. Not for the better. Makes no difference that COVID is making used cars a hot commodity.
 

·
Registered
2014 GT MC / 2018 Ghibli SQ4 Gransport
Joined
·
120 Posts
Interesting observation, although I think that's specific to your QP. I've been tracking prices since I bought my '14 GT MC in May and while there's some regional variance, my car has appreciated in the last 4 months. I see a couple 14 MCs with 5k and 10k more miles than mine on Autotrader right now for 30%+ more than what I paid last May. I think those guys are priced a bit high though for their MCs. There's a 13 MC with 30k more miles for over 10% more than what I paid, that guy also needs a dose of reality. But I see 14 Sports with 20k more miles going for similar to what I paid, that seems about right. There is however a 15 MC with 26k miles priced RIGHT if anyone was in the market, clean carfax too. That one is definitely the outlier nationally and I bet someone snaps it up soon. The price is almost too good to be true.. maybe not a real MC, there's only 1 pic available which is suspect..
 

·
Premium Member
Joined
·
1,646 Posts
Discussion Starter #3
There's a reason I posted this in the QP V forum... I have no idea what's happening with GranTurismo etc. Although the GranTurismo is basically a QP V with two less doors.
 

·
Premium Member
Joined
·
221 Posts
People buy more used cars because of covid19, that means they act under financial pressure, have bleak career prospects. These people will certainly not afford a Maserati.
 

·
Premium Member
Joined
·
1,646 Posts
Discussion Starter #5
People are buying used cars to avoid public transportation and Uber, not because they have financial pressures. No one buys a car if they have bleak career prospects.
 

·
Premium Member
Joined
·
221 Posts
I only partly share this opinion. In my country, Switzerland, most of life still takes place outside the big cities. These people need a car for life, the pure use of bicycle or public transport is a joke there. Otherwise they won't be able to get to work or go about their daily lives. These buyers are very much looking for a car, which should not cost much (purchase and maintenance). Here the market for new cars has collapsed now for three reasons: they don't know what to buy (combustion or electric, stupid politics and legislation that creates a lot of insecurity), because of Covid19 (just like you said) there is a big trend instead of using public transport even less as it is no longer opportune to force oneself to use public transport in large quantities (risk of infection) and the job prospects are extremely bad (many people will lose their job if they have not already lost it), so only the minimum of money is invested.
 

·
Premium Member
Joined
·
1,646 Posts
Discussion Starter #7
The used car values have increased, but I was only referring to the situation in the USA, which is what I became aware of. Here it seems that there a great many professional people in cities who made do with one car for a couple, or no car, and now suddenly they are not happy riding the train etc. but they also didn't lose their jobs or have poor finances. There is increased demand for cars from people whose financial circumstances are largely unchanged.
 

·
Premium Member
Joined
·
221 Posts
A further reason to temporarily stock up on a used car is the fact that manufacturers' production lines (all European producers were affected) were stopped for a long period of time and waiting times became extremely long or even unpredictable (I have been waiting for a Tridente logo for six months and it seems I have to wait even longer...).

To sum up, I think we can say that we have identified a few interacting parameters: Increasing demand due to Covid19, limited supply due to Covid19 and increased cost awareness due to Covid19. I maintain that Maserati has not been able to benefit from this because of the third point. I know I am stubborn... ;)
 

·
Premium Member
Joined
·
1,646 Posts
Discussion Starter #9
It does appear that the GranTurismo is faring much better on the market:
 

·
Registered
2014 GT MC / 2018 Ghibli SQ4 Gransport
Joined
·
120 Posts
It does appear that the GranTurismo is faring much better on the market:
Thanks for sharing! I like what I see here, I paid the same as what this Sport just sold for except mine is MC with full carbon interior and 8k less miles and only 2 previous owners (vs 4). Bonus was my MC already had tinted windows, tail lights, and was de-chromed, which I was going to do anyway so that saved me a few bucks and time/hassle too. GT values in that 2013-2016 range are in fact going up slightly after bottoming out in April/May during lockdowns!
 

·
Premium Member
Joined
·
1,646 Posts
Discussion Starter #11
Meanwhile, the dealer asking price for a 2012 QP S is only $25K. Talk about divergent fortunes. This GT is the same car with two less doors.
 

·
Registered
2014 GT MC / 2018 Ghibli SQ4 Gransport
Joined
·
120 Posts
I think there's plenty of hope for that generation QP. At the least, that great price allows for a fairly low annual cost of ownership for basically art on wheels with a glorious ferrari derived v8 since it's not going to depreciate much further from that, if at all. For many, that's a much more attractive option than having to eat the depreciation plus potentially loan interest on basically anything else that would cost about the same annually to own that's almost certainly going to be a lesser car overall, if you can look beyond the (lack of) tech. And with V8s being a dying breed, I wouldn't be shocked to see an uptick in these generation QP values similar to the GT. I'd think many of the same people that buy Maseratis are the same people that will only consider or even pay more for a V8, especially as they become less common. Just my 2 cents.
 

·
Registered
Joined
·
576 Posts
I recently changed jobs and now have to commute each day. My 2013 QP-S has been very reliable but I'm not thrilled about racking up the miles...currently at 55k. Found a really nice VW GTI Autobahn fully loaded with options and just for fun, I asked what the dealer would give me for trade-in....$17.5k. I knew it would be low but I didn't think it would be THAT LOW!
 

·
Premium Member
Joined
·
1,646 Posts
Discussion Starter #14
I recently changed jobs and now have to commute each day. My 2013 QP-S has been very reliable but I'm not thrilled about racking up the miles...currently at 55k. Found a really nice VW GTI Autobahn fully loaded with options and just for fun, I asked what the dealer would give me for trade-in....$17.5k. I knew it would be low but I didn't think it would be THAT LOW!
Well yeah but, dealer trade-ins are always ludicrous. They would probably quote $17K for a 2019 Porsche Cayman. Dealer trade-ins are like, take it or leave it and they don't really want your car anyway so they just offer a dog turd.
 

·
Premium Member
Joined
·
1,646 Posts
Discussion Starter #15
I recently changed jobs and now have to commute each day. My 2013 QP-S has been very reliable but I'm not thrilled about racking up the miles...currently at 55k. Found a really nice VW GTI Autobahn fully loaded with options and just for fun, I asked what the dealer would give me for trade-in....$17.5k. I knew it would be low but I didn't think it would be THAT LOW!
Is yours the last of the Mohicans? By which I mean, the last of the QP V ? If so, I would pin its likely resale value in the high $20K for sure, and possibly more depending on condition.
 

·
Registered
Joined
·
576 Posts
Hello Seanfulop - yes it's the "last" of the Gen-5 cars. It's really been a wonderful car, except for the known minor issues like the window regulators (I fixed them), stickies (in the process of fixing), and droopy visors (fixed). The car runs perfectly, pulls hard, sounds great, and looks gorgeous. I don't feel right about putting nearly 100 miles a day on this car - but unfortunately I have not choice at the moment..
 

·
Premium Member
Joined
·
1,646 Posts
Discussion Starter #17
Hello Seanfulop - yes it's the "last" of the Gen-5 cars. It's really been a wonderful car, except for the known minor issues like the window regulators (I fixed them), stickies (in the process of fixing), and droopy visors (fixed). The car runs perfectly, pulls hard, sounds great, and looks gorgeous. I don't feel right about putting nearly 100 miles a day on this car - but unfortunately I have not choice at the moment..
It's funny, I have a 2005 with 65K miles on it, and my sun visors are still perfect, I have not lost any window regulators under my ownership (although I know the PO fixed one rear window just prior to selling me the car), and my rear sunshade still goes perfectly. I do have persistent gremlins in the suspension system and the parking sensors. I think that despite my best efforts, my parking sensor system has been working only about half the time I've owned the car.
 

·
Registered
Joined
·
576 Posts
Thankfully....my parking sensors and suspension have been fine. When I bought my car the rear sunshade was in the up position. I hit the button to lower it and it made some snapping noises and then went down normally. I then hit the "up" button and up it went like normal....then hit the "down" button and nothing, no noise....nothing. So I just leave it up, as it sounds like a real pain to fix.
 
1 - 18 of 18 Posts
Top