The Value Of Used Cars.

Discussion in 'General Discussion' started by SPX, Aug 2, 2011.

  1. SPX

    SPX MB Club Veteran

    Messages:
    16,046
    Joined:
    Aug 29, 2010
    Location:
    Yorkshire
    Car:
    That one
    I was speaking to a trader friend of mine yesterday who deals in high-end cars and he was telling me how sluggish the market is.

    He has a 2006 Audi S4 with 51k that no-one wants, even though it's only a couple of grand more than it's 2.0 diesel counterpart of the same year. A similar tale with a 1 year old RR 4.4 V8 diesel Overfinch.
    He also let on that early C63s were trading at low £20k's.

    Couple this with the 2004 £9,500 W211 E55 that I've just posted on the 'Spotted on ebay' section and it really does hit home how hard the residuals of anything vaguely sporty/thirsty are getting hit.

    For those that cover small miles there has never been a better time to buy...
     
    4 people like this.
  2. MicB

    MicB MB Enthusiast

    Messages:
    1,037
    Joined:
    Nov 2, 2010
    Location:
    Beckley, Oxford
    Car:
    MB SL500 (R230) 2003, MB SLK320 (R170) 2001, Volvo V70 XC AWD 2001
    That is absolutely correct

    Mic
     
  3. Will

    Will Hardcore MB Enthusiast

    Messages:
    11,357
    Joined:
    Jan 21, 2003
    Location:
    Surrey
    Car:
    GL63 AMG / 190E 2.5-16 / Porsche 911
    Has been the case on and off for the last couple of years IMHO, but seems especially bad recently.

    Despite record fuel costs, people don't seem to grasp that the largest expense of motoring for most people is depreciation.

    People seem to think that spending thousands of ££££s on an 'economical' car is somehow better than spending less in the first place.

    Unless you're doing tens of thousands of miles per year, for many people you could enjoy driving a nicer car and spending some of what you save in depreciation on extra fuel.
     
    4 people like this.
  4. Charles Morgan

    Charles Morgan MB Enthusiast

    Messages:
    8,207
    Joined:
    Feb 2, 2010
    Car:
    Mercedes 250CE W114, Alfa Romeo GT Coupe 3.2 V6
    I agree up to a point Will, but I suspect the cars Sweetpea's mate is selling still have a lot of depreciation left to run, so purchasers are probably being very rational - a gas guzzler is going to cost a lot to run and depreciate faster, as well as being more difficult to sell.

    When they are close to rock bottom they are a bargain.
     
    2 people like this.
  5. Doodle

    Doodle MB Enthusiast

    Messages:
    5,023
    Joined:
    May 3, 2005
    Location:
    Echo Beach
    Car:
    R129, Leon Cupra 290, BMW R100
    S4 values have taken a serious dive of late - I sold my 2004 one a year ago at market value for £13k. It's now worth maybe 9 or 10.
     
  6. cl55 amg

    cl55 amg Active Member

    Messages:
    561
    Joined:
    May 28, 2009
    Location:
    Manchester
    Car:
    CL55 AMG
    Correct everybody at work think I am mad having a 5.5 V8, but when my daily commute is only 7 miles each way I don't mind the 20mpg figures.
     
    1 person likes this.
  7. Jonathan_T

    Jonathan_T Member

    Messages:
    48
    Joined:
    Apr 13, 2011
    Car:
    2007 Audi A8 3.0TDi Quattro
    I sold my 03 S4 just over a year ago and even then had to drop £3K from what was "maket value" :wallbash: Took over 3 months to shift it. In the end was happy just to cover the outstanding finance.

    Only reason I sold it was fuel costs 25K+ miles per annum at 23 mpg was just too much.

    Feeling much better off in the Merc!
     
  8. Will

    Will Hardcore MB Enthusiast

    Messages:
    11,357
    Joined:
    Jan 21, 2003
    Location:
    Surrey
    Car:
    GL63 AMG / 190E 2.5-16 / Porsche 911
    Not sure how many MPG the new car is getting, but the £3k drop you took would have equated to free petrol for 6 months, even doing 25k miles PA on 23mpg!

    So even if the diesel is doing twice as many mpg, you'll have just broken even fuel wise I reckon.
     
  9. Palfrem

    Palfrem MB Enthusiast

    Messages:
    2,957
    Joined:
    Aug 11, 2005
    Location:
    Solihull, near Birmingham
    Car:
    W124 E36 AMG, G 300 GEL his, SLK 200 hers
    Browsing the MB AUC - there are a few very nice, large engined, used cars beckoning.
     
  10. Setanta

    Setanta Active Member

    Messages:
    945
    Joined:
    Feb 13, 2007
    Hmm...I am noticing the opposite.

    As many know, I view anything less than 2 ton and V8 as fit only for peasants (joking) so the cars I keep an eye on are the very large barges and coupes. Good specification S500 and S600's are disappearing quickly, as are CL series cars and LS430's from main Lexus dealers are usually gone within 10 days.

    Some remain on sale, both privately and at specialists, at silly prices and hence they remain unsold.

    High petrol prices are here to stay and will only increase in the future.
     
  11. Jonathan_T

    Jonathan_T Member

    Messages:
    48
    Joined:
    Apr 13, 2011
    Car:
    2007 Audi A8 3.0TDi Quattro
    This is true except that I was trying to sell the car for what I bought it for 18 months earlier and with 40K miles more on the clock. It was very cheap at £13k with 20K on the clock when I bought it and I hoped that keeping the fsh and adding the miles wouldn't have affected the resale value that much. So, having to drop the 3K really only refelcted the time and miles I'd put on the car.

    Also, I've always found that depreciation losses never feel the same as fuel costs. Handing over £150 a week for petrol for the S4 seems a lot more painful than the £65 a week in diesel for the 270.
     
  12. The _Don

    The _Don MB Enthusiast

    Messages:
    3,943
    Joined:
    Jul 11, 2010
    Car:
    Mb
    Same here - sold my last three c63's at or close to asking price without much trouble.
     
  13. dulayj

    dulayj Active Member

    Messages:
    539
    Joined:
    Jun 22, 2011
    Location:
    Near Winchester
    Car:
    A 210/Volvo XC90
    Agreed fuel prices only going North!:wallbash:
     
  14. OP
    OP
    SPX

    SPX MB Club Veteran

    Messages:
    16,046
    Joined:
    Aug 29, 2010
    Location:
    Yorkshire
    Car:
    That one
    That's not my point.

    Use your last C63 as an example; how much did it cost, how long did you keep it for and what was the final sale price. Not the differences in HP and such like.
     
  15. The _Don

    The _Don MB Enthusiast

    Messages:
    3,943
    Joined:
    Jul 11, 2010
    Car:
    Mb
    Never purchased a car on hp - Paid £51k kept for four months - sold on for a profit.
     
    1 person likes this.
  16. The _Don

    The _Don MB Enthusiast

    Messages:
    3,943
    Joined:
    Jul 11, 2010
    Car:
    Mb
    He also let on that early C63s were trading at low £20k's.

    [/QUOTE]

    ^ Doubt it.
     
  17. C240Sport97

    C240Sport97 MB Enthusiast

    Messages:
    8,715
    Joined:
    Feb 22, 2004
    Location:
    London E1
    Car:
    SL400 and 911 GT3
    that's amazing!
     
    1 person likes this.
  18. OP
    OP
    SPX

    SPX MB Club Veteran

    Messages:
    16,046
    Joined:
    Aug 29, 2010
    Location:
    Yorkshire
    Car:
    That one
    We can count you as an exception then; you've either got a friend in the trade who let's you buy them from him at trade prices or you have a secret factory in China, churning them out....


    It'll be a good thread this, because it will become apparent people's attitudes towards residuals, like an earlier poster stated about the S4 and the C270.
     
  19. The _Don

    The _Don MB Enthusiast

    Messages:
    3,943
    Joined:
    Jul 11, 2010
    Car:
    Mb
    That c63 was purchased from a mercedes dealership.
     
  20. OP
    OP
    SPX

    SPX MB Club Veteran

    Messages:
    16,046
    Joined:
    Aug 29, 2010
    Location:
    Yorkshire
    Car:
    That one
    ^ Doubt it.[/QUOTE]
    I was surprised when he told me; there was no gain to be made by telling me that other than it was in general conversation.
     
Tags:

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.