mmmmdonuts Posted March 24, 2003 Share Posted March 24, 2003 I currently have my car up for sale at £11.5k, and was hoping to get close to that. If I don't sell it before I go galavanting off around the world, how much do you think it would depreciate in a year? It would be stored in a garage somewhere. I'm guessing it would still be worth £10.5k when I get back, so if I don't get offered that I might as well keep it. Quote Link to comment Share on other sites More sharing options...
chrisbin Posted March 24, 2003 Share Posted March 24, 2003 Well I think the first issue is what you could expect to get for it now......£9k - £10k is probably about right...... A year's time...?? Who knows???!! But I reckon you would be very unlucky if it was worth significantly less than it is now. As has been said before, once the initial drop in value has occurred (from new price/cost of build), the car's value tends to be tied to its spec. and doesn't seem to lose much... IMHO of course......limited as it is!! Quote Link to comment Share on other sites More sharing options...
mmmmdonuts Posted March 24, 2003 Author Share Posted March 24, 2003 £9-10k sounds a bit low (but then I am selling it!. terry nightingale said they would probably pay around £10k, so £11 - £11.5 sounds about right to me. I posted on here a "what do you think its worth" thread and general consensus was about £11.5 - 12k. Quote Link to comment Share on other sites More sharing options...
chrisbin Posted March 24, 2003 Share Posted March 24, 2003 Sorry Twas only IMO!!! But basic fact remains, I reckon, that whatever it is worth now, there won't be much difference in a year. Quote Link to comment Share on other sites More sharing options...
Nick M Posted March 24, 2003 Share Posted March 24, 2003 If I could just make an observation about Westfield prices, and that is that, to a large extent, it's really down to us what the market does. A new car which cost, say, 16K to get on the road should, IMO, suffer a fair bit of depreciation in the first year (they all do) but should still be worth a healthy 12K or so after 12 months, especially if it's been built nicely and has a nice spec. But to turn round and say, "Ooooh, it's just a Zetec (or whatever) with nothing fancy - 8K-10K tops" seems a little harsh and misses the point that someone could get a very low mileage car for significantly less than the cost of a new one. Buyers and sellers are just as bad, and we all seem to have our own ideas of how much a car is worth (or at least, how much we'd be prepared to pay for it....) but sometimes I think it's a case of standing your ground and holding out for the right buyer. Yes, it's a pain in the but selling cars always is !! Quote Link to comment Share on other sites More sharing options...
chrisbin Posted March 24, 2003 Share Posted March 24, 2003 Hi Nick - whats the weather like? I wouldn't argue with what your saying but then it applies to anything really, doesn't it? Supply & Demand and all that...?? If you're a buyer, then if you are looking for a wide body 16V Westy then you will be reckoning on £7 - £8k upwards. How much "up" will depend on age, specification, condition, of car. As a seller, obviously you have to promote how your car is different (and better ) than others. Incidentally, mielage has been discussed before and IMO unless its very high, is not as relevant with Westys as tin tops. As has been said before, if car only has few miles...why?! And what I also meant to say was, that any car that you can buy "secondhand"/previously enjoyed/whatever!! will cost significantly less than cost new/cost to build - surely just another fact of life ?? Quote Link to comment Share on other sites More sharing options...
Nick M Posted March 24, 2003 Share Posted March 24, 2003 Weather is luvverly !! 80 degrees plus and sunny !! I agree with what you're saying, I guess what I was trying to get across was that sometimes we're our own worst enemies when it comes to pricing cars for sale and in allowing lower values to persist when the true value of the car might be higher. I tend to look at it from the rather galling perspective of having spent *cough* (the wife might find this so I'm playing it safe !! ) on an extensive upgrade of my car and all I could possibly hope to get back would be, at the most, 25-30% of the cost of those upgrades. Fortunately I don't find myself in the position of having to sell the car, but if I do then someone's going to get a bargain !! Quote Link to comment Share on other sites More sharing options...
chrisbin Posted March 24, 2003 Share Posted March 24, 2003 Look at that..... I agree with what you're saying I wouldn't argue with what your saying (Nobody would guess that one of us has a Zetec and the other a VX......... ) Quote Link to comment Share on other sites More sharing options...
Nick M Posted March 24, 2003 Share Posted March 24, 2003 *faints* NURSE !! Quote Link to comment Share on other sites More sharing options...
hilux Posted March 25, 2003 Share Posted March 25, 2003 25% in 12 months So true.................... Buy second hand, let someone else have the hassle (and the depreciation) Exactly the same as any new car Quote Link to comment Share on other sites More sharing options...
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