Car depreciation

[Notty]

My VW Tiguan R line now has 4k on the clock and is 10 months old. Keep getting emails from webuyanycar.com so I thought lets see what its worth - New it cost £42500 (incl extras ) its only worth £26500 FFS !! so glad I bought it used at 8 months old with just 2k on the clock for £28k . I would feel sick if I had paid full price 

[Andre]

No reason to be  You benefited heavily from that depreciation.

[Irish in Oz]

You might be able to buy a new one cheaper than an 10 month old after Brexit 

[DP1400]

Out of sheer curiosity, when we were selling my wife`s Mini Cooper a few years back I decided to give the particulars to webuyanycar.com to see what they would offer. What a joke, they offered us £2750 BELOW book price for the year, model, mileage, condition etc.! Having had a laugh, I ignored the `valuation`. A month later AFTER we had sold it privately for a little above book price, webuyanycar.com called me with another offer. I decided to play along and to my astonishment their offer had reduced by a further £500 - this after only four weeks LOL!

I was so annoyed that a `motor trader` was quite happy to blatantly rip people off I challenged him on his valuations. His response was that every vehicle they buy goes straight to auction and because they have no real idea of how much they will fetch (they don`t mess around with reserves), they knowingly offer silly prices in the hope that a small percentage of people will sell. For some reason, thousands of people do sell their vehicles to them WTF. Desperate times. 

[gsxbarmy]

Webuyanycar give the worst prices going - if you have to go that route there are better services online than theirs which will offer more.

[Irish in Oz]

If you have painted the brake calipers it will probably be worth about 2K more.

[Notty]

If you have painted the brake calipers it will probably be worth about 2K more.

Glad I had them painted then - boring steel grey tho so guess not as much as £2k 
actually when I traded my car in for this one webuyanycar got the price the main VW dealer offered me exactly right 

[grog]

My Corolla turned 20 this year. Great sound system, cold A/C, drives perfectly, even got me a speeding ticket last year. I fix cars but refuse to pay for them,such a waste of money. 4 new Goodyears given to me, he bought alloys, new indicator lens, new o2 sensor. cam belt was $20. 600 ks on 40l fuel. What a great car. My wifes 3.5 l Mitsi same story, cost nothing, drives A1, goes like a v8. European cars really struggle in Oz conditions, ok if you want to spend the money for upkeep. Yep, you sure have to spend the bucks.

[Irish in Oz]

My car has no depreciation left on it, and was up for historic registration last year, it does need the valve guide seals done on it burns some oil.

[VladTepes]

My Corolla turned 20 this year. Great sound system, cold A/C, drives perfectly, even got me a speeding ticket last year. I fix cars but refuse to pay for them,such a waste of money. 4 new Goodyears given to me, he bought alloys, new indicator lens, new o2 sensor. cam belt was $20. 600 ks on 40l fuel. What a great car. My wifes 3.5 l Mitsi same story, cost nothing, drives A1, goes like a v8. European cars really struggle in Oz conditions, ok if you want to spend the money for upkeep. Yep, you sure have to spend the bucks.

My Land Rover turned 27 this year.
No sound system (unless engine, transmission and tyre whine count)
no air con
drives.. umm, it's a Defender so.. well it's not a town car let's just say that.
speeding ticket - yeah I can get those too But I find the bike is far more effective at that task. Right tool for the right job 
Sure it's slow, sure it sounds like a tractor, sure the clearcoat is failing (has never lived inside), sure some water gets in a bit, sure the windscreen wipers are rubbish, sure there's bugger all elbow room next to the window (that's why the windows open), sure as a 130 it's got the turning circle of the Queen Mary.   

But I LOVE it.

the major upsides:
GREAT off road, full ton carrying capacity, not a computer in sight, no electronic ignition, no carbs no nothing. Direct injection diesel 
The only electronics in it is my mobile phone :D

and despite all that, values are actually going UP.  Crazy eh.

[Batkwaka]

Sucks, I bought a 2012 BMW K1600GT (Demo) for $36000 and traded on a 2017 (2nd hand) K1600GTS 8 years later for $5000. It never missed a 10k service for the 210k/km it did.
New bike only gets a 30k service and oil/filter every 10k, fantastic bike but I'm not pissing that money away again.

[urbanus]

Never buy a new car/bike! You are just throwing money away.
I bought my 2003 VW 888 Special transporter from a kite surfer in deepest darkest Wales who had decided to pack it all in and go and live in Columbia in 2012.  It had sat in his field for 12 months going green.  I paid next to nowt for it, put a new o/s wing on it (them welsh drystone walls are proper well built!) and kitted it out as a day van for occasional camping and bike shows.  I have now had it 10 years and driven it all over Europe - its fantastically good on diesel, reliable as English rain in summer and drives like a car. Easy to park, everything comes out in 10 minutes if I want to use it for its intended purpose and it will probably live longer than me assuming fuel is still available.  It moved both my boys through about 4 house/flat moves each as they fell out/in love/lust with different girls, moved me to France (had a bit of help from a huge polish bloke with a bigger van but hey ho), drove me and my wife to Mandello last year for the Guzzi celebrations.  I absolutely love it.  I've heard women can now marry their horse/hamster add deviation of your choice here, me I am going to run off with me van.

[Hooli]

Never buy a new car/bike! You are just throwing money away.

Depends on the make/deal etc.

At the time I got my HD new it was £1,500 cheaper than a six month old one at my local dealer. Make sense of that!

Generally though, yes you're right. If you plan to sell it again later then don't buy new.

[Will14]

I bought my car two months old preregistered with less than 200 miles on the clock, had a real bargain paid £32K for a £42K plus car, plus three years free servicing. Three years on and I was being offered a bit more than what I paid for it work that out, they recon covid helped me out with a shortage of new vehicles

I was thinking of changing it this year but prices are silly so may just stick with it, its only done just over 30K now in just under four years of ownership


Pete

[Globalrider]

I have had my MGC GT for over 50 years - I cost me 775 pounds I have no idea what it is worth now as a 2 owner car and 98K miles on the clock. I have seen them go for silly prices a while back at Scottsdale Az for $80K USD which was a resto project - mine is original, apart for the usual maintenance. The issue is if your not intending to every sell what is the concern? I have always said to my Kids if you can't buy it outright then don't and then keep it for 10 years and it will not have cost you anything. How ture that is now a days not sure but I still only buy if it is for cash!