Depreciation?!?

[Mike Edwards]

Test drove the new MCS today.

Much better ride and the gearchange was nice too.

When asked if I'd like an estimate of the trade-in value of my car I said yes - more out of curiosity than a burning desire to get the new model.

Apparently my 18 month-old MCS (18k, Chilli Pack, leather and aircon) was worth £13.5k

This caused a certain amount of wincing as you might understand given that it cost ~£19k*.

The extras I'd had fitted since delivery meant they could offer me an extra £1k though, which was nice - only the extras in question were a 210bhp Works kit, Works brakes, suspension, seats and an Aerokit!

I'm still trying to decide it they just didn't want my custom (so why did they let me drive off with the car for an hour?), or if they're as incompetent as other evidence suggests...

*never mind % - that's £5.5k!!!

[Scrogg]

I can fully understand your disappointment at being told this, but have you asked for a second and third opinion from other dealerships?

You may realise just how 'incompetent' this particular dealership is or is not when you have something to compare their offer with.

The other thing to think about is that you are comparing the retail price of your car new with the trade value of it now. if you were to take the time and effort to advertise and sell your car, rather than the easy option of trading it, you would achieve a much healthier return.

[Mike Edwards]

Perhaps I should have worded the 1st post differently.

A Works MCS complete with the brakes and suspension, Works seats and an Aerokit is worth just £1k more than the same car without all of the above...

[Haggi]

i would say that for a private sale you car should be worth 16k ish trade in 15 k ish that dealers is taking the ****** but such i nice car i would keep it for a bit longer than 18 months

[laura f]

Quote: Originally Posted by Scrogg (original)

I can fully understand your disappointment at being told this, but have you asked for a second and third opinion from other dealerships?

You may realise just how 'incompetent' this particular dealership is or is not when you have something to compare their offer with.

The other thing to think about is that you are comparing the retail price of your car new with the trade value of it now. if you were to take the time and effort to advertise and sell your car, rather than the easy option of trading it, you would achieve a much healthier return.

Wise words ^^^ You always get a better deal privately and or checking out other places, we had almost a £6k valuation difference on a previous MINI through 3 different dealers... Was also told never to add more than the value of the VAT as options if you don't want to make a large loss

[ru81]

Quote: Originally Posted by laura f (original)

Wise words ^^^ You always get a better deal privately and or checking out other places, we had almost a £6k valuation difference on a previous MINI through 3 different dealers... Was also told never to add more than the value of the VAT as options if you don't want to make a large loss

I agree. In my experience the more you spend on extras, the more you stand to lose on resale. Chili pack is the main thing that adds value, other than that there are very few options that add value.

[envy]

Your not alone Mike

Unfortunatley it seems ive lost alot of money. The dealer offered me 5k less than what i paid for. They only class my mini as cooper with chilli pack and air con. The other 3k i spent on options (chrome line e.t.c.) is lost - as they say "they are personal options, and not something that adds to resale value"

Im sorry but they are talking out there ****! They will sell the minis based on options! Its an insult as im sure a vauxhall garage would give me the same price, and as i did spend £17k 9 months ago! I would have thought i wouldnt have lost as much.

However thats why mine is for sale privately now! They are taking the **** with small prices. I bet my car would be advertised at a 2k drop instead of my £5k drop!

Argh! Dont get me started.!!

Oh and new buyers the point is - buy a mini with chilli pack if you wana swap cars anytime soon! you wont lose as much!

[Mike Edwards]

To add insult to injury, there was a price list of the 'special deals' they offer on certain options on the desk in front of me while they were telling me this.

While some of them were reasonably priced, the Works seats in leather were £1900 inc VAT fitted.

[Scrogg]

Don't let it get to you Mike, it's not that important.

Give Rydale Newport (or whatever they're called now?) a ring, as they are usually pretty good on p/x values and aren't millions of miles from Hereford.

[envy]

Rydale Sutton and Rydale Warley Valued Mine..

Differences

Sutton +£500
Warley -500

So theres a slight difference but still too low to even think about handing over the keys!!

[Lorien]

wts wrong with your car? why are you even considering to sell it and then get a newer one?

[antonyc31]

Its a sad fact on selling the majority of cars so early into their life
and particularly with high spec cars.
The market is totally geared up to selling new, nearly new and plus 3 year old cars
and anything in between gets punished when it comes to sell.
If you went back in another 18 months you would find that the incremental depreciation
was not that much worse and you still have a just run in brilliant 210 BHP car that is faster
than the car you wish to buy.
regards

Antony

[Rakey]

Quote: Originally Posted by Mike Edwards (original)

To add insult to injury, there was a price list of the 'special deals' they offer on certain options on the desk in front of me while they were telling me this.

While some of them were reasonably priced, the Works seats in leather were £1900 inc VAT fitted.

Mike I know totally how you feel mate, when the GP was launched I almost swapped mine for a GP, until I got offered £12500 as a trade in price

This on a car that was 18mths old, with 35k on the clock and which had cost around £30k.

Anyway, a month or so ago I asked for a price from a different dealer with February in mind for trade in, and I was given the price of £16500. Much more like I was expecting and this is in a space of almost 6 months later than when I had asked last time.

So best advice, don't stick with one dealer, shop around, get as many prices as possible, and don't be restricted by locality, as the dealer who gets my business next time could be anywhere in the country.

[Mike Edwards]

Oh - I'm hanging on to it for at least the originally planned 3 years.

Unless I find myself heading for the US in the next 12 months, in which case hellooo Ford Mustang GTCS...

[Mike Edwards]

Thread resurrection.

Hellooo Holden Commodore, only:

MCS Works now has R56 Works brakes, R105s, R56 rear suspension.

Need to check shipping to Oz...