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Old 25th July 2017, 18:29   #1
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Post Ever sold a car (used) for more than you bought it (new)?

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Worst case, if the 10-year ban is still in place, you'll be able to easily sell an Innova in a city / town without the 10-year rule. If history is anything to go by, the Innova will be costing 50 lakhs in 2027 and you'll get 15 lakhs for your 10 year old example .
We bought Innova G in 2007 for about 8.75 lakhs. I was planning to sell it(which I dropped for now) and have got quotes ranging from 7-9 lacs. I haven't heard of car appreciating after using it for 10 years!
The GX Innova Crysta is now going to cost me 18.75 which I plan to take delivery this week. 8.75 to 18.75 in 10 years.
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Old 26th July 2017, 15:50   #2
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Default Re: Ever sold a car (used) for more than you bought it (new)?

PrideRed, thanks for the comment. Copying your post to a new thread as it might lead to an interesting discussion. Am sure there are a handful of other car models this might be applicable to.

1. My '97 Mahindra Classic 4x4 was bought for Rs. 3,45,904. She's not on sale, but I have received many offers in the 4 - 5 lakh range. Now, that's appreciation!

2. I'd bought a 10-year old Accord for $3,200 during my MBA in Boston. After 2 years of using it, I sold it for $3,200. Exact amount, down to the last dollar.

In the '70s, there used to be a multi-year wait on car models in India. It wasn't uncommon for someone to use a Premier Padmini for 2 - 3 years, then sell it off in the market for a fat profit. Am certain it was the case with other hot items like the Bajaj Chetak (IIRC, 10 year waiting).

Last edited by GTO : 26th July 2017 at 15:51.
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Old 26th July 2017, 16:12   #3
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Default Re: Ever sold a car (used) for more than you bought it (new)?

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Originally Posted by PrideRed View Post
We bought Innova G in 2007 for about 8.75 lakhs. I was planning to sell it(which I dropped for now) and have got quotes ranging from 7-9 lacs. I haven't heard of car appreciating after using it for 10 years!

This is true in the sense of absolute numbers , however this does not take inflation into account. What you could buy for 8.75L in 2007 you definitely cannot by the same thing in 2017. Just think of the cars you could buy right now for 8.75L on road.

One example is the price of diesel which has increased by 2.74X between 2004 and 2014.


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Old 26th July 2017, 16:20   #4
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Default Re: Ever sold a car (used) for more than you bought it (new)?

Interesting thread

I have had a similar experience but not with my car (My previous and current car, both are Skodas and you know their resale).
I own a 2005 Royal Enfield Electra (the one with the gear lever on the right). I bought it brand new for 78k and 6 months ago received an offer of 90k. I not selling it anytime soon.
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Old 26th July 2017, 16:22   #5
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Default Re: Ever sold a car (used) for more than you bought it (new)?

We bought SS80 in 1984 for ~65k and it was sold in 1996 for 85k. Car was in good condition and done about 1.25L kms with just routine service being done regularly.
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Old 26th July 2017, 16:28   #6
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Default Re: Ever sold a car (used) for more than you bought it (new)?

I had bought a Honda Civic in USA circa 2007 for 5600 USD and sold the same for 6400 USD in 2009... the car still drives like a dream I hear.
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Old 26th July 2017, 17:26   #7
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Default Re: Ever sold a car (used) for more than you bought it (new)?

I bought Toyota Qualis FS model in 2004 for 6.17 Lakhs and even today, most of the times, when it is parked in my portico without cover, people come and inquire if it is for sale. When I say, NO, they go with disappointment.

The highest offer I have got so far is for 6.5 Lakhs. But, I am not ready to sell.
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Old 26th July 2017, 17:39   #8
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Default Re: Ever sold a car (used) for more than you bought it (new)?

Quote:
Originally Posted by GTO View Post
1. My '97 Mahindra Classic 4x4 was bought for Rs. 3,45,904. She's not on sale, but I have received many offers in the 4 - 5 lakh range. Now, that's appreciation!
Quote:
Originally Posted by Foxbat View Post
This is true in the sense of absolute numbers , however this does not take inflation into account. What you could buy for 8.75L in 2007 you definitely cannot by the same thing in 2017. Just think of the cars you could buy right now for 8.75L on road.
I agree!

I think we need to avoid using the word appreciation because in true sense a car would rarely appreciate, maybe vintage or limited production cars (what was that Porsche model?) which have actually appreciated in true sense given the exclusivity of those vehicles.

Nonetheless, the situation is really interesting to be in when you can drive a car for 10 years and sell it for more than you bought it.
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Old 26th July 2017, 18:08   #9
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Default Re: Ever sold a car (used) for more than you bought it (new)?

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Originally Posted by Foxbat View Post
This is true in the sense of absolute numbers , however this does not take inflation into account. What you could buy for 8.75L in 2007 you definitely cannot by the same thing in 2017. Just think of the cars you could buy right now for 8.75L on road.
One example is the price of diesel which has increased by 2.74X between 2004 and 2014.
Then even real estate is only a gain in mind not a real one. If you factor in inflation except for rare periods you hardly gain 1-2 % ! . Land doesn't develop wear and tear and unless you have something that's fetching rental on the land, it doesn't bring any benefits while a car helps you to ease your travel and lot of other things related to daily living.

Ask someone like me who has to take a non existent public transport to work if I have no cars, I would have to take one bus and an auto and waste 1 hour for a travel of 8 kms, while I reach work in 12-15 minutes by car. I can't put a value on my time, but my work earns me around ₹ 1000 an hour, so a car helps me earn an extra ₹ 600-700 per drive by avoiding public transport. I travel the same route two times up and down daily, morning and afternoon, afternoon and evening, so I would have to spend 4 hours if I were to take a public transport!

To be offered a higher price for a car which you were using as a daily drive is in itself a rarity and should be viewed in that sense . It shows how well the car has aged and how well one has maintained the car. I can't think of anything else which we use daily that will fetch the sticker price after a couple of months!
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Old 26th July 2017, 20:37   #10
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Default Re: Ever sold a car (used) for more than you bought it (new)?

Bought a Suzuki shogun last year for 30k got offered 50k by a neighbor recently. Best part is it still needs a lot of work and is just sitting collecting dust at the moment.

Quote:
Originally Posted by gkveda View Post
I bought Toyota Qualis FS model in 2004 for 6.17 Lakhs and even today, most of the times, when it is parked in my portico without cover, people come and inquire if it is for sale. When I say, NO, they go with disappointment.

The highest offer I have got so far is for 6.5 Lakhs. But, I am not ready to sell.
A distant relative of mine also had a Qualis and he sold his for a fat profit right after the Innova was launched. Back then there were many people who preferred the Qualis over the Innova apparently. I forget why.

Last edited by IshaanIan : 26th July 2017 at 20:39.
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Old 26th July 2017, 21:03   #11
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Default Re: Ever sold a car (used) for more than you bought it (new)?

Though this cannot be termed as appreciation in the true sense, still it is a very interesting situation. I think it is only possible for a Toyota. I had bought a Toyota Camry manual shift in USA for 5000 dollars and sold it for 6000 dollars after driving it for 25K miles
Coming to think of it, many vintage and classic cars will be selling at a higher price than their original purchase price.
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Old 26th July 2017, 21:25   #12
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Default Re: Ever sold a car (used) for more than you bought it (new)?

1996 Mercedes W124 - Purchased in 2008 for <4.5 Lacs. Received a serious offer for 8 lacs in 2016 from a wealthy gentleman who loves well maintained old Mercs. He has offered to give me a token for whenever I decide to sell the car

Have spent an average of Rs. 20K per annum on service and repairs using OE Benz parts only. It has definitely paid off.
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Old 26th July 2017, 23:03   #13
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Default Re: Ever sold a car (used) for more than you bought it (new)?

Innova used to be most sort after MPV during 2010 -2012, and even now. I remember my uncle buying a brand new Innova high end for about 13.60 Lac's and sold the car in 2011 for 14.10 Lac's. He used it for two years and has done only 10k KMS.
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Old 27th July 2017, 00:06   #14
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Default Re: Ever sold a car (used) for more than you bought it (new)?

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Then even real estate is only a gain in mind not a real one. If you factor in inflation except for rare periods you hardly gain 1-2 % !
And how exactly did you conclude that?

Land at times has given a return much better than anything else imaginable in the world (except art maybe). I've had a colleague who built a guest house in DLF phase-2 (Gurgaon) after purchasing land and within 4 years the land itself was more than 3 times the overall cost (land + construction). Period 2009 to 2013!

A vehicle will always remain a depreciating asset barring a select few rare instances like the ones I mentioned. The notion of selling a car for more than you bought it is interesting but true appreciation is a rare phenomenon.

Please note that vehicles which truly "appreciate" are vehicles no longer, they are a piece of art and you just can't put a price on it, until the buyer does.
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Old 27th July 2017, 00:58   #15
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Default Re: Ever sold a car (used) for more than you bought it (new)?

Yup.

Case 1 - in US : 2001 Toyota Camry. Buying price - $ 3600. Selling price $ 3750.
Usage - 2 years.
Miles - 30k.


Case 2 - in Finland : 2000 Citroen Xantia. Buying price - EUR 1500. Selling price EUR 2000.
Usage - 1 year.
Kms - 10k.

Last edited by GTO : 27th July 2017 at 17:28. Reason: Formatting
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