Looking for the "one"...

Today marks the official start of Project E34 and auspiciously coincides with the beginning of a new month. Not that I'm particularly superstitious but I guess you can't go wrong having the stars line up in your favor. Surprisingly, I slept well last night though woke up a little bit earlier than usual. Since I have some time in my hands this morning, its a good opportunity to recall the process of looking for the "one".

The search for any good pre-owned vehicle is always fraught with difficulty and inconvenience. People naturally assume this will not be the case for a higher-end model and especially less so for European cars. In my experience, let me say clearly that this is absolute nonsense. Sometimes I think that shopping for a European used car is an even worse ordeal due to the fact that there are fewer offerings in the market. Not that all are bad, but the great majority of the cars I've seen puts into question my sanity in wanting to buy one. There are a number of instances which made me wonder why the owner spent a large amount of his money in buying the car only to subsequently convert it into a rolling garbage dump. A few want to have an antique car before its time. Even among those whom I thought would know better, I get disappointed for one reason or another. Maybe my standards are set too high but let me say this. The last two cars I have sold after personally using them for some time, were bought by the first people to actually see them. There were the usual grumblings about price during the initial phone call and I'm certain they first visited the cheaper ones only to get turned off by what they saw. I believe a premium price warrants a premium condition and contrary to what some may believe, brand alone is not enough. There is no doubt in me that I would rather have my well conditioned Hyundai than a beaten-up BMW. I also believe adding a P200,000 set of wheels and tires to a P500,000 car does not make it worth P800,000. Or even P700,000 for that matter. Accessorizing does enhance the value of a car but never to the full extent of the cost of its accessories.

Going further on the matter of accessorizing, some are done without putting thought on mechanical or technical suitability.  This happens most often on wheel setups wherein the largest tire size is the primary consideration regardless of its effect on the driveability of the car.  Even worse are instances when magwheels with the wrong offset are installed.  This results in the tires rubbing the fender which leaves long-term issues with possible body damage and compromised safety. 

This may sound unexciting, but I am always wary of cars which are setup for "performance". While they may be aesthetically attractive, the risk that a previous owner has used the car for racing is very high and any unseen accumulated damage will always be hanging over the new owner's head. I intend to use my cars just for regular daily driving and therefore see no need to give priority to performance enhancing components. I have nothing against those who have a need for speed but will leave those tracked cars for others to enjoy if that is what they are after.

So how did I end up with not just one but two of them?

First of all, buying brand new is a non-starter for me because the hit would I take on depreciation alone is something I am unwilling to accept. Its one thing for a P1million car to lose half of its value over time but an entirely different issue when its a P5million car. The write-off can already be enough to buy you a decent piece of property somewhere. The key then is to find one which presents good value.

I'm afraid to say that I cannot properly describe in words what comprises good value. The stockbroker in me probably guides my instinct in looking for it. A good starting point would be to scour the ads for the going rate of the particular model you want. Even more importantly, do see different cars no matter what. Don't be lazy. Do the legwork. Looking at them through pictures posted on the internet or working the phone is not enough. Some of my biggest disappointments came from cars which looked great in pictures. After a while, you develop a feel for the car you're after.

It also helps to be patient, a trait which my wife will easily attest as being totally out of character. The process of acquiring my two Bimmers took months although the people around me did not even notice that I was looking. There were numerous times when I decided to abandon the search out of frustration only to revive it with the following week's edition of the classifieds.

I instantly knew that the two cars I ended up with were the "ones". I first saw both in meet ups with the owner. In both cases, I arrived at the designated meeting place earlier than them and as the car was driven up, it just struck a chord. It will be a surprise when I say that both were also on the lower half of the price scale. Some will call it luck or even love at first sight but I don't think so. I happen to think that its the result of knowing what you're looking for.

Not that there won't be any problems...