Stevial

I went to purchase a 2004 A8L, black with beige interior. I now own a 2003 A4 3.0. I owe about 37,000 on the car. when i bought the car it was going for $31,900, now that i am going to trade in the vehicle it is worth about $25,000. Mind you i just got the car less then 6 months ago. The difference between what i owe and what the dealer will give me for the car is about $12,000. The price that A8L is going for is $59,400. The car has 18,800 Miles on it, and does not have the full convience package. It is missing the auto closing trunk and the front ventilated seats (which i really wanted). I woudl hate to say it but i am very worried about the deprecaition on such a vehicle (as they have been many buy backs). For every 1000 Miles you deduct $500 according to the galves guide (which is the guide that the dealers use). So the deal is put togther figuring out prices taxes etc..., but now i have to come with about $6,000 down payment. Now if the car did have the full convenice package and not as many miles, i would put up the money. But this is on the premiere purchase i feel like i am (for a lack of a better term) pissing away $6,000. I have a friend who works in the auto industry, their is no pricing list for a used 2004 A8L out yet beacuse we are still in 2004, but she said don,t do it. She told me that, that car should be worth between 52K-55K, not $59,400. For the simple fact that it is missing the full convience package and it has 10,000 miles over what it it supposed to have. She also told me that check the manheim report that a car with about 6,000 miles less with the full convience package, loaded to the gills went for $56,000. I just feel if the went down $5500, i would take the deal , what do you guys think. Should i give up the money, even though it feels like a waste.

PaulW

I don't understand how you owe $37K on your car and when you bought the car it was worth $31.9K....did you take a loan out for more than the value of the car??

Regardless, the A8L will most likely be worth about 30K when it is three years old. I.E. 2007.

My 97 A8 was bought in 2001, it was off the lot for exactly 3 years (bought in June 98), and I paid $25.5K for a car that stickered at $64K. So the original owner probably got about $22-24K for it. That's a $36-$38K hit depending on purchase price, I'm sure it was discounted.

I hate to say it, but historically that has been the depreciation of the old V8's, 91 200q's, D2 A8's, and S8's. S8's are now going for the high 20's....some are still around 50K.

My advice: buy whatever car you want, but if you buy that A8L, you'll be up to your eyeballs in debt with a depreciating asset.

Financially, you should be driving a inexpensive car to get out from the debt, but from a driving experience, if you have the A8L, you'll have the best!

Stevial

Thank you for the advice i appreciate it, LOL. You are right on both accounts, i now making about 98K a year, and that does not include bonuses. But maybe i should stick to my A4 and start buying Bmw xi variants. If they would only drop to what the car is actually worth, i can live with it. I don't have any other bills really. Just all this money burning a whole in my pocket, but i don't like to think that i am not getting deal. If they drop the 5500, i will play ball, if not oh well. thanks again for your advice.

Ringmeister

You'd be better off buying a new fully loaded 2005 A6 instead of an older A8L that does not have the features you want and lots of mileage you did not get to enjoy yourself.

Stevial

Thanks ringmeister, i appreciate your advice.

AtlasD3Miami

11/04/04 MANHEIM Regular $51,600 31,804 Below BLACK 8G A No
11/03/04 CEN FLA Lease $55,000 1,278 Below BLACK 8G A Yes
10/26/04 ARENA Lease $58,000 7,528 Avg TAN 8G A Yes
10/21/04 MANHEIM Regular $62,500 696 Above BLACK 8G A Yes
10/21/04 MANHEIM Lease $61,500 2,467 Avg SILVER 8G A Yes
10/21/04 MANHEIM Lease $59,750 6,575 Avg SILVER 8G A Yes
10/21/04 MANHEIM Regular $59,000 12,742 Avg BLACK 8G A Yes
10/21/04 MANHEIM Lease $58,500 5,885 Avg GRAY 8G A Yes
10/21/04 MANHEIM Regular $56,000 13,152 Avg GREY 8G A Yes
10/21/04 MANHEIM Lease $53,000 37,807 Below GRAY 8G A No
10/14/04 RIVRSIDE Factory $59,750 2,017 Avg SILVER 8G A Yes
10/14/04 RIVRSIDE Factory $57,700 15,211 Avg BLUE 8G A Yes

Not to speak bad about your friend but it sounds like she does not know that much about the auto industry. From what I've seen these cars are holding their value extremely well for an Audi and the values have increased some over the past few months. The car you are looking at is obviously a launch car with one of the launch convience packages (there were 2 offered). My educated industry opinion is that you are getting a good deal on a retail sale. But the fact that it does not have the options you desire it is NOT a buy for you.

Stevial

Thank you atlas for that info, but according to reports i should be able to get that vehicle for at 55K, just on mileage alone it is over 10,000, and using the glaves, which is what audi dealers use $500 deducted for every addtiional 1000 miles. Most of these cars MSRP for about 73K, and now they are wholesaling for average of 58-61K. And these are cars whose mileage is on par. But you guys are probably right i am going to wait till next year and get a 2005. Thanks guys

Mr. Ricco

$1.88 per mile in depreciation; 9 months and 9,000 miles. When sold were wholesaling for $57K. I don't care which German luxury sedan you buy, you will pay for it in depreciation compared to any other cars, American or Japanese; that's just the way it is. The missing options you noted are IMO "big time" options that any luxury car must have. Not only for your enjoyment, but for resale. I can't imagine a dealer getting that amount for a high mileage, minimally equipment A8. Could he have smelled the "money burring in your pocket?"
That car is worth about $50K; period. Never hurts to give him what you would pay for it and see what happens. Good Luck.

Stevial

Thank you for the advice Mr.Ricco, you are right, the general manager just called me and told me that they have no more money in that car. Well i am just going tpo have to wait till next year, i'll get the short wheel base, its what i wanted anyway, with the advanced key feature and the amarreto interior.

Mr. Ricco

Love that interior option.