It has already been a year since Hoovie bought what he claimed to be the ‘cheapest Rolls-Royce Phantom‘ in the US. Back then he was rather worried that his car would leave him stranded on the side of the road and that the repairs would probably bankrupt him. Well, none of that happened, but he did come close. Today though, he is pondering selling the Phantom to try and recover some money off it but how much is it worth?
Well, before we find out the answer to that, he decides to offer a glimpse at what he had to fix on the car to get it in good shape once again and how much he spent. The car was bought with $80,000 a year ago and it had some issues. Some errors in the dash warned that the air suspension wasn’t working properly, the window regulators didn’t work right and the car had a really cheap wrap done on the hood, among other things.
Then there were the tires, which were worn out. The problem was they were special tires, the ones with foam sound insulation on the inside which are made specifically for Rolls-Royce cars. He couldn’t really find any replacements so he ended up changing the wheels altogether, which set him back another $4,000. Then there was an issue with a coolant leak, which turned out to be trickier to solve than though initially. Some new coils and a couple other upgrades translated into another $2,600 spent.
In the end, the total bill rose over $100,000 with the purchase price and taxes included. How much could he get for the car now? Well, according to an appraisal he got: $53,000. It’s rather fair, to be honest, as the Carmax people need to sell it and make a profit. Taking depreciation into consideration, it’s not a bad offer but it turns out Hoovie is not ready to say goodbye just yet.
