Depreciation...

[Sooperlids]

....for those worried about their Mini's depreciation, think yourselves lucky that you didn't buy something like a Vauxhall.

In December 2004 I bought a Vauxhall Astravan Sportive, RRP £12786. I got a pre registered one for £9495. Now after just 5,000 miles I have been told it's not worth a lot more than £6000. And that would be if they wanted one, but as they have 2 already they don't!

So that's over 50% of the RRP gone in a little over 6 months & 5k miles

So it could be worse But I guess you all knew that

[fred3]

Quote: Originally Posted by Sooperlids

....for those worried about their Mini's depreciation, think yourselves lucky that you didn't buy something like a Vauxhall.

In December 2004 I bought a Vauxhall Astravan Sportive, RRP £12786. I got a pre registered one for £9495. Now after just 5,000 miles I have been told it's not worth a lot more than £6000. And that would be if they wanted one, but as they have 2 already they don't!

So that's over 50% of the RRP gone in a little over 6 months & 5k miles

So it could be worse But I guess you all knew that

is never one of the reasons I buy a car. Once I buy it I try to keep it till it dies. It's not an investment to me. It's simply transportation.

[Sooperlids]

Fair point, but I bought the van for work & no longer need it. No point keeping it. And there are a lot of debates regarding depreciation here. Just pointing out things could be much worse.

Also need the money to get a new car for the Mrs so she is not driving the MCS to work & back every day

[indimini]

Was that a price offered by a dealership? Do you have the option of trying to sell the vehicle yourself? Here in the US when it came time to upgrade from the 02 MC to 05 MCSC, my dealer was not offering very good trade-ins. I did much better selling it myself.

Tbh, I'm still completely at a loss for how the sale and licensing of vehicles works in the UK.

[Gr8Dain]

Quote: Originally Posted by indimini

Tbh, I'm still completely at a loss for how the sale and licensing of vehicles works in the UK.

A lot of people in the US of A are confused about how it works HERE. It amazes me how people get taken by dealers. Especially those that end up 'upside-down' on the new cars and can never get it turned around. I feel for them.

Dain

[tonywalk]

Quote: Originally Posted by indimini

Tbh, I'm still completely at a loss for how the sale and licensing of vehicles works in the UK.

Could've been worse, you might've asked us to explain the offside rule

The dealers basically overcharge us (compared to rest-of-world) whilst giving us p***-poor trade-in values. We smile and think they're the dogs danglies if they give us a cup of vending machine coffee.

The government lets the dealers rip us off, then has the affront to charge us a "Road Fund Licence", which they then spend on anything but roads. They then tell us we'll asphyxiate if we travel at over 3 mph on a Motorway and that we should slow down to preserve the habitat of the common fat-cat.

Any more questions? Send them to:

T. Blair
Uphisownarse Cottage
10 Downing St
London
51st State (Ooooh, little bit of politics creeping in there)

Tony - Me? Bitter? Nah!

[Gr8Dain]

Quote: Originally Posted by tonywalk

The dealers basically overcharge us (compared to rest-of-world) whilst giving us p***-poor trade-in values. We smile and think they're the dogs danglies if they give us a cup of vending machine coffee.

The government lets the dealers rip us off, then has the affront to charge us a "Road Fund Licence", which they then spend on anything but roads. They then tell us we'll asphyxiate if we travel at over 3 mph on a Motorway and that we should slow down to preserve the habitat of the common fat-cat.

Sounds like our guys learned from your guys - No Different

[jonnyyellow]

Quote: Originally Posted by Sooperlids

....for those worried about their Mini's depreciation, think yourselves lucky that you didn't buy something like a Vauxhall.

In December 2004 I bought a Vauxhall Astravan Sportive, RRP £12786. I got a pre registered one for £9495. Now after just 5,000 miles I have been told it's not worth a lot more than £6000. And that would be if they wanted one, but as they have 2 already they don't!

So that's over 50% of the RRP gone in a little over 6 months & 5k miles

So it could be worse But I guess you all knew that

errr.. since i am in the Us.. i looked up that car in google.. its pretty uglu

hehe

[Sooperlids]

Quote: Originally Posted by indimini

Was that a price offered by a dealership? Do you have the option of trying to sell the vehicle yourself? Here in the US when it came time to upgrade from the 02 MC to 05 MCSC, my dealer was not offering very good trade-ins. I did much better selling it myself.

Tbh, I'm still completely at a loss for how the sale and licensing of vehicles works in the UK.

Sure you can sell it yourself. But that means strange people calling by your house, kicking tyres, picking fault etc. etc.

It's it harder with a van becuase if you run a business & are VAT registered you have to charge an extra 17.5% VAT. The buyer can only claim this back if they are also VAT registered Think I will spend & afternoon ringing round the dealerers. Somebody must want it

[willymcd]

selling cars privatly is totaly the way to go! you get taken to the cleaners trading in! i haven't had any probs selling privatly...

[Sooperlids]

Quote: Originally Posted by jonnyyellow

errr.. since i am in the Us.. i looked up that car in google.. its pretty uglu

hehe

It's not a car it's a VAN. It's a comercial vehicle I didn't buy it for the looks!

And as far as VANS go it's one of the better looking ones

Funny that view coming from the land that invented ugly cars too!!

[matt21]

simple solution.....give it to the missus and she gets a nearly new vehicle that is practical aswell

saves u selling and then buying aswell

[Sooperlids]

Quote: Originally Posted by Matt18

simple solution.....give it to the missus and she gets a nearly new vehicle that is practical aswell

saves u selling and then buying aswell

Grrr that's is another story. She doesn't fancy it becuase it's too long?!!!

Finally convinced her it was a good idea. Phoned my insurance broker & they said they wouldn't insure her. Even though they had told me in December it would be an extra £200. They said I would have to cancel my current policy & get a new one, not a good idea 6-7 months through the policy as you get next to nothing back