Car Buyers' Guide: Not so new luxury

A new Roller will cost $628,000, but cheaper options exist. Picture / Ted Baghurst

Not so new, but still exclusive ... just take your time before you buy

Ron read Driven's review of the new Rolls-Royce Ghost II and then checked his bank balance and his Lotto numbers. Both came up short of the necessary $628,000, but it started him wondering about the merits of buying a second-hand ultra-luxury vehicle.
"If you can can afford to have a Rolls-Royce or Bentley sitting in the garage to be admired and used on special occasions, then that must be a pretty awesome feeling," said Ron.
He is semi-retired and feels now's the time to splash out on something a little special.
Initial outlay

If you love these sorts of vehicles, Ron, then yes, they can definitely become affordable secondhand but there are upsides and downsides. The budget: $120,000

Depreciation
The big upside for second or subsequent owners is the huge depreciation that the original purchasers have suffered.

This could run into hundreds of thousands of dollars in some cases depending on vehicle age. In many cases you will buy a vehicle with a reasonably low odometer reading
as I suspect most of the vehicles in this market segment travel less than around 14,000km a year.

While there are always exceptions to the rules, it's highly unlikely the majority of these vehicles have been heavily modified or driven in an aggressive manner either, especially if they were sold new in New Zealand.

They have often had a more sedate, quiet lifestyle with a mature driver and passenger.
I know of one example where a successful businessman bought a new Bentley and travelled only 34,000km during the seven years he owned it.

It was reserved for special occasions and spent a lot of time parked in the garage, kept in as-new condition.

The other big plus is that ultra-luxury vehicles hold their age well if not their value.
Technology will definitely catch up with them over time, but they will always carry an air of prestige, desirability and elegance.

Some of the downsides include having to wait a few years before that depreciation drops into your price range, which means you could end up with a reasonably old vehicle and one that has fewer features to the new, more mainstream premium brands.

Running costs
They are usually awfully complex from a technical point of view and therefore require the expensive expertise of more than the corner garage. Trying to resell may also prove difficult.

The Driven review of the Rolls-Royce Ghost II mentioned that if you had to ask the price you couldn't afford to buy new.

The same applies with fuel costs and routine servicing when you buy secondhand. You have to think in hundreds or thousands of dollars.

You can spend hundreds at the pump and thousands on repairs and servicing if done as per the book and by a franchise dealer.

These vehicles are also big and heavy and have large engines sitting under the bonnet to provide that smooth overall performance - hence the extra-large appetite for fuel.

Bentley Continental Flying Spur (2006) $118,000
I spotted this vehicle during a quick search. At nine years of age this once-$300,000 plus motor vehicle starts to fall into your price range.

It's loaded with high-tech mechanicals including an unusual 12-cylinder twin turbocharged 6-litre engine. Fuel consumption is a claimed 17.7l/100km.

At this age you would have to ask about, and work through, all the various features with a current owner or dealer.

New Zealand Rolls Royce & Bentley Club (www.nzrrbc.co.nz) is the best recommendation I can make. Clubs like this are passionate about particular brands of vehicle and can give the best information and help to get you started.

Summary
Think long and hard about this, Ron, and take your time.

You don't buy these sorts of cars in five minutes. Go through every feature in detail and if buying privately or from a non-franchise dealer, pay for an in-depth pre-purchase inspection from a suitably qualified expert before committing to buy.