The Value Of Used Cars.

D

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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...
 

MicB

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That is absolutely correct

Mic
 

Will

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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.
 

Charles Morgan

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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.
 

Doodle

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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

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.
 

cl55 amg

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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.
 

Jonathan_T

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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!
 

Will

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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.
 

Setanta

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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.
 

Jonathan_T

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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.

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.
 

The _Don

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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.

Same here - sold my last three c63's at or close to asking price without much trouble.
 
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D

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Same here - sold my last three c63's at or close to asking price without much trouble.

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.
 

The _Don

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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.

Never purchased a car on hp - Paid £51k kept for four months - sold on for a profit.
 

The _Don

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He also let on that early C63s were trading at low £20k's.

[/QUOTE]

^ Doubt it.
 
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D

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Never purchased a car on hp - Paid £51k kept for four months - sold on for a profit.

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.
 
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D

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He also let on that early C63s were trading at low £20k's.

^ 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.
 

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