You never lose money on cars until you come to sell them. I thought it would be interesting to see how much I have lost on cars since I went crazy in 2018. The numbers are coming from my head so they might be a little bit out; and these figures are just the difference between purchase price and sale price, I'm not including money spent on the cars, finance costs, etcetera.
- 2018 February: £1k loss (cost £333 per month). Sold my SEAT Ibiza 1.2FR after 3 months. Think I bought it for £9k and sold it for maybe £8k.
- 2018 May: £9k loss (cost £1125 per month). Sold my Lotus Elise after 8 months. I bought it for around £44k and think I sold it for £35k.
- 2018 November: £2k loss (cost £500 per month). Sold my Mazda MX-5 Z-Sport after 4 month. I bought it for £4.5k and sold it for £2.5k.
- 2018 November: £10k loss (cost £1666 per month). Sold my Lotus Exige V6 IPS after 6 months. I bought it for £45k and sold it for £35k.
- 2018 December: £3k loss (cost £300 per month). Sold my Audi A3 Sportback Sport TDI 184PS Quattro after 10 months. I think I bought it for £14k and sold it for £11k.
- 2019 March: £2k loss (cost £666 per month). Sold my SEAT Ibiza 1.4FR after 3 months. I think I bought it for £9k and sold it for £7k.
- 2019 May: £7k loss (cost £1166 per month). Sold my Lotus Evora V6 NA Sport Racer after 6 months. I think I bought it for £40k and sold it for £33k.
- 2019 September: £6k loss (cost £1500 per month). Sold my Lotus Exige V6 S Roadster after 4 months. I think I bought it for £36k and sold it for £30k.
- 2019 October: £6k loss (cost £857 per month). Sold my Audi S3 after 7 months. I think I bought it for £14k and sold it for £8k.
- 2019 November: £6k loss (cost £3000 per month). Sold my Mazda MX-5 2.0 GT RF after 2 months. I think I bought it for £22k and sold it for £16k.
- 2020 June: £10k loss (cost £1666 per month). Sold my Lotus Exige V6 S Club Racer after 6 months. I think I bought it for £45k and sold it for £35k.
- 2020 September: £6k loss (cost £2000 per month). Sold my Porsche Cayman 718 S after 3 months. I think I bought it for £40k and sold it for £34k.
- 2020 December: £6k loss (cost £2000 per month). Sold my Audi RS3 after 3 months. I bought it for £32k and sold it for £26k.
2018 lost £25k
2019 lost £27k
2020 lost £22k
TOTAL lost = £74k
So, there you go. Just on selling cars over the last 3 years, I've lost £74k or roughly £25k per year. What a terrible waste!
So far this year I have lost £0 on cars, let's keep this going!
Technically, by looking at things in the above way, if I'd never sold a car I would never have lost any money!
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