New car depreciation
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We've never, ever, bought a new car.
My present car a 1996 Ford Scorpio Ultima 2.9 Automatic cost it's owner (new with additional spec items)
My present car a 1996 Ford Scorpio Ultima 2.9 Automatic cost it's owner (new with additional spec items)
Big change towards lease cars by the company that I work for(pendragon PLC)
We used to reg demos and put up for sale at 3 months. Now all sales staff have a dedicated car for one year.
Look out for a lot of year old Astra SXI and Focus LX diesels early next year,
My March 06 Astra has only 2405 miles on the clock so should be good buy for someone in March 07.
Brian
We used to reg demos and put up for sale at 3 months. Now all sales staff have a dedicated car for one year.
Look out for a lot of year old Astra SXI and Focus LX diesels early next year,
My March 06 Astra has only 2405 miles on the clock so should be good buy for someone in March 07.
Brian
i allways spend some time looking around for nearly new or ex demo cars, they usually work out about 30% cheaper than new unregistered ones. the alhambra i know have was unregistered but the dealer was on the verge of going bust and i picked it up for
Steve I bet that they had to force you into that super car considering you hate things new ?. Were all different with different tastes, preferences, likes, dislikes, and cars are just another factor. My son has never bought new but will travel the length of Britain to buy a car of his choice if the paperwork is correct ( ie service docs )and mileage is on the low side. To date he has never lost money on any car he has bought and he keeps them for a few years before he moves them on in mint condition, and who do you think started him on his buying crusades,? yes yours truly. As I said earlier I've had my fill of that side.
geordie, if what you say is true, ie. buying a car and two years
later being able to sell it so as not to have made a loss, over
and over again.
then you must be one in a million,and this skill you have passed
on to your son, is priceless!
you see untill last year i worked for 11 years for the midland
autotrader.
In that time i have dealt with hundreds of large and small
traders, face to face week in and week out.
Herd this sort of talk, usually from people dealing in bargain
buys! here today and bust tomorrow.
Yet i never herd any of what i would call very sucessfull
traders, and i dealt and know a lot of them still,ever make such
a fancyfull claim as you have!
They have all bought lemons or got the market wrong, more than
once.
stay luckly.
later being able to sell it so as not to have made a loss, over
and over again.
then you must be one in a million,and this skill you have passed
on to your son, is priceless!
you see untill last year i worked for 11 years for the midland
autotrader.
In that time i have dealt with hundreds of large and small
traders, face to face week in and week out.
Herd this sort of talk, usually from people dealing in bargain
buys! here today and bust tomorrow.
Yet i never herd any of what i would call very sucessfull
traders, and i dealt and know a lot of them still,ever make such
a fancyfull claim as you have!
They have all bought lemons or got the market wrong, more than
once.
stay luckly.
Have to agree on that one .I've sold cars for over 10 years now and would think it unlikely to recoup my money after two years even buying trade poor and selling retail.All I can suggest is you are forgetting the recon cost in your sums.
Ok - time for a slight change of tack -
Does the same rule / preference transfer to Caravan buying?
I once bought a brand new car. I was 21 and knew no better. Every scratch a chip was felt personally. My last 10 cars have all been used leading up to the last purhase - an 18 month old Merc costing me 12K less than the first owner paid.
But is it the same with Caravans? I'm looking to buy right now and I'm leaning towards new for the following reasons...
1) nobody has used the bed before (I know you don't get that in Hotels but that somehow feels different)
2) all the new vans I look at seem lighter
3) all the new ones have the nice touches such as fly screens and roof lights
4) and finally (so far) I'm seeing 3 and 4 year old models going for 7K to 8K when a new one is only 11K.
Views please.
Does the same rule / preference transfer to Caravan buying?
I once bought a brand new car. I was 21 and knew no better. Every scratch a chip was felt personally. My last 10 cars have all been used leading up to the last purhase - an 18 month old Merc costing me 12K less than the first owner paid.
But is it the same with Caravans? I'm looking to buy right now and I'm leaning towards new for the following reasons...
1) nobody has used the bed before (I know you don't get that in Hotels but that somehow feels different)
2) all the new vans I look at seem lighter
3) all the new ones have the nice touches such as fly screens and roof lights
4) and finally (so far) I'm seeing 3 and 4 year old models going for 7K to 8K when a new one is only 11K.
Views please.
Clive
Fully agree with you about the tax implications of a loss but I saw many very nice cars repossed from SME's because they had thought they could afford a
Fully agree with you about the tax implications of a loss but I saw many very nice cars repossed from SME's because they had thought they could afford a
Yes I saw and am considering the Freelander offer - a last Lode Lane example has its merits.
Run out models are always good value if you tend to keep the car for a while as we do. However, the new Freelander looks like a true "star" and I want one! - However, I never buy a new car - especially a Ford derivative in the first 12 to 18 montb of the models life because they ALLWAYS revamp the initial model - usually quite significantly.
Hence a last of the true "Lode Lane" Freelanders is atrractive - especially at the prices quoted! As for the five year resale value? Not botherred! - the taxman has paid for it by then. If it has a value when sold it inflates my bottom line.
As regards what the market will support in three years time? - the financial analysts tend to suport the view that car makers such as Ford, GM as we know them today, will collapse and smaller centre of production specialists will survive in europe and the US whilst mass production shifts to China and other emerging markets. Interestingly GB Ltd is reckonned to do well as we are recognised as having design expertise and consequently a lot of emerging markets built cars will be designed in the UK.
Just look at the shipbuilding and motorcycle industries if you want an example of what is likely to happen.
30 years ago all our Ferries, Ships, Motorcycles, Cars, Lorries, Buses, Trains etc were built in the UK like as not.
What will be built in the UK in 2036 I wonder?
And where will the real economic power in the world reside by then?
Run out models are always good value if you tend to keep the car for a while as we do. However, the new Freelander looks like a true "star" and I want one! - However, I never buy a new car - especially a Ford derivative in the first 12 to 18 montb of the models life because they ALLWAYS revamp the initial model - usually quite significantly.
Hence a last of the true "Lode Lane" Freelanders is atrractive - especially at the prices quoted! As for the five year resale value? Not botherred! - the taxman has paid for it by then. If it has a value when sold it inflates my bottom line.
As regards what the market will support in three years time? - the financial analysts tend to suport the view that car makers such as Ford, GM as we know them today, will collapse and smaller centre of production specialists will survive in europe and the US whilst mass production shifts to China and other emerging markets. Interestingly GB Ltd is reckonned to do well as we are recognised as having design expertise and consequently a lot of emerging markets built cars will be designed in the UK.
Just look at the shipbuilding and motorcycle industries if you want an example of what is likely to happen.
30 years ago all our Ferries, Ships, Motorcycles, Cars, Lorries, Buses, Trains etc were built in the UK like as not.
What will be built in the UK in 2036 I wonder?
And where will the real economic power in the world reside by then?
Gio and Brian, my son is not a dealer, he scours the net for a particular car that he fancies as his next set of wheels and thats the start of a long process. He was a peugeot buff for quite a few years and Ive lost count of how many motors he looked at till he got one that fitted the bill in that particular search. ie, 309 goodwood bought in London( private buy), one owner 39000 miles,
Oh forgot to say, I dont think keeping a car for 2 yrs before selling it is the criteria for a successful car sales business, do you Gio?
G
Guest
In my latter years at school a young teacher drove in a tatty looking car every two or tree weeks it was changed having been sold on gleeming to be replaced by another tatty model that was cleaned scrubbed and polished and sold on for profit.
Teaching was given up for full time car trading and gambling.
About ten years ago at a car auction I did a double take on a gent driving a new Ferrari and introduced myself. Ian remembered me and has a home near StTropez and we often go out for lunch, he maintains that he has never lost money on any car he has bought. I buy my cars through him as he owns a number of garages and still trades up market used cars for profit.
If you know your cars and work hard, you can make a good living!
Teaching was given up for full time car trading and gambling.
About ten years ago at a car auction I did a double take on a gent driving a new Ferrari and introduced myself. Ian remembered me and has a home near StTropez and we often go out for lunch, he maintains that he has never lost money on any car he has bought. I buy my cars through him as he owns a number of garages and still trades up market used cars for profit.
If you know your cars and work hard, you can make a good living!
Sorry euro,
You are out of touch.
You mention your old teacher, you also mention that it was 10
years ago, by that time he had made it.
You also mentioned he owened several garages, so this cannot in
anyway be looked at in the same light as buying a personel car
and then moving it on for a profit 2 tears later.
the days are well gone where you can do the sort of thing your
old teacher did.
Today every tom dick and harry is at it, and your statement that
if you know your cars ect, ect, is invalid.
Its not about knowing your cars for a sole trader today its
knowing the market, what will/should move quickley and make your
money.
geordie.
sorry i thought we were talking cars, assumed by old cars you
meant, 3 or 4 or 5 or even 10 year old cars!
Obviuosly the 2 examples you gave do not fall into that catogory
Therefore neither do they fall into what was being discussed as
they are really old, some would say classics and therefore fall
into a totally different field.
NOTED.
no mention of 2 years road tax or 2 years insurance in your
calculations, i know you would still need that for anycar but
depending on your sons age this could wipe out any known profit.
You are out of touch.
You mention your old teacher, you also mention that it was 10
years ago, by that time he had made it.
You also mentioned he owened several garages, so this cannot in
anyway be looked at in the same light as buying a personel car
and then moving it on for a profit 2 tears later.
the days are well gone where you can do the sort of thing your
old teacher did.
Today every tom dick and harry is at it, and your statement that
if you know your cars ect, ect, is invalid.
Its not about knowing your cars for a sole trader today its
knowing the market, what will/should move quickley and make your
money.
geordie.
sorry i thought we were talking cars, assumed by old cars you
meant, 3 or 4 or 5 or even 10 year old cars!
Obviuosly the 2 examples you gave do not fall into that catogory
Therefore neither do they fall into what was being discussed as
they are really old, some would say classics and therefore fall
into a totally different field.
NOTED.
no mention of 2 years road tax or 2 years insurance in your
calculations, i know you would still need that for anycar but
depending on your sons age this could wipe out any known profit.
Euro,you do bump into a lot of people don't you.
Your style of post reminds me of someone.
Now let me think !!!
Your style of post reminds me of someone.
Now let me think !!!
G
Guest
Sorry if it is a little difficult to understand my post Gioavani.
I left School about 40 years Ian had given up Teaching just before I left as he had made it and was driving an E-Type and had bought a house I've since learnt.
He came straight from college to teach us and finished within two years because he made more money buying and selling cars that he titivated at the weekends. giving up teaching gave him the time to go to the fairly new British Car Auctions near Frimley in the 60's.
He is still trading used cars on in the same way and bought into garages with the money he's made from that process and gambling to some extent. Buying used caras at the right price and selling them on in immaculate condition.
He has been doing it for 4O years and "made it" as you say 40 years ago and has never stepped backwards!
Ian does not run his garage interests he is just a sharp "used car dealer" and other have always managed his garage interests with him attending the odd meeting.
I left School about 40 years Ian had given up Teaching just before I left as he had made it and was driving an E-Type and had bought a house I've since learnt.
He came straight from college to teach us and finished within two years because he made more money buying and selling cars that he titivated at the weekends. giving up teaching gave him the time to go to the fairly new British Car Auctions near Frimley in the 60's.
He is still trading used cars on in the same way and bought into garages with the money he's made from that process and gambling to some extent. Buying used caras at the right price and selling them on in immaculate condition.
He has been doing it for 4O years and "made it" as you say 40 years ago and has never stepped backwards!
Ian does not run his garage interests he is just a sharp "used car dealer" and other have always managed his garage interests with him attending the odd meeting.
G
Guest
We spend quite a few months a year in our Caravan Brian, so we "bump" into new people at every site we visit.Euro,you do bump into a lot of people don't you.
Your style of post reminds me of someone.
Now let me think !!!
We both speak French and my wife German, Italian and Spanish.
I helped my new at the time son inlaw buy some Vans at British Car Auction at Blackbushe when I met my old teacher again. You tend to bump into a lot of people at car Auctions, Camp Sites.
Gio - you cannot take insurance Car Tax out of the equation because if you want and need a car during that period then whatever you drive those bills have to be paid.
No - Geordie is right in my view - my son does similar to his but with modified cars. His current is a very tasty VW Golf Mk1 GTi. Paid very little for it, and if his previous exploits are anything to go by, he will sell it next year (when it is finnished to his high standards) and make a "profit".
OK - if you take all the time spent out into account then overall there is a loss. But he sells his cars for more than he paid for them!
But GBP's are hardly the point if it is your passion.
No - Geordie is right in my view - my son does similar to his but with modified cars. His current is a very tasty VW Golf Mk1 GTi. Paid very little for it, and if his previous exploits are anything to go by, he will sell it next year (when it is finnished to his high standards) and make a "profit".
OK - if you take all the time spent out into account then overall there is a loss. But he sells his cars for more than he paid for them!
But GBP's are hardly the point if it is your passion.
Gio, I think your splitting hairs here, if your taking age into account now. I never mentioned age, but you were quick to dismiss my statement as nonsense anyway. I said my son would spend hours looking for the right car, which is in my opinion the same as what euro said ("if you know your cars") another statement you rubbished. Also a car ten yrs old is not considered a classic. For someone in the know you seem to have limited knowledge on your chosen subject.
G
Guest
Best to pocket the money, smile and let those who do not believe stew in their own ignorance Geordie!
Twins, Brian?Euro,you do bump into a lot of people don't you.
Your style of post reminds me of someone.
Now let me think !!!
G
Guest
Gio, my friend still trades many cars a year for profit and there are others I know of who make a good living or buy a few luxuries from good car dealing.
It is a case of how well you know your business and what effort you put in. I have an old friend who makes money from Poetry, I don't do it muself and I doubt that I would have made money as a Doctor or an Architect.
Some individuals make a living from buying used caravans, I don't myself and I'm retired.
Each to their own, what's the problem?
It is a case of how well you know your business and what effort you put in. I have an old friend who makes money from Poetry, I don't do it muself and I doubt that I would have made money as a Doctor or an Architect.
Some individuals make a living from buying used caravans, I don't myself and I'm retired.
Each to their own, what's the problem?
All cars depreciate, some at an alarming rate, but by the time a car reaches 10 years old the bulk of the depreciation has happed.
Now all cars depreciate so lets try and put a figure to it .Personally I would say, with a little bit of inside knowledge, that a minimum figure you could hope for would be
Now all cars depreciate so lets try and put a figure to it .Personally I would say, with a little bit of inside knowledge, that a minimum figure you could hope for would be
Brian what a difference having correspondence on an acceptable level.I have to admit it was not easy living with someone who talked cars 24/7. Our neighbours would comment that the paint would disappear if he washed his car/cars much more.On the 309 Goodwood thing, I can honestly say he got something special with that one, but only when he had done as much as could do, did you really see what he went on about from the start.As I said he does his homework which can take months of searching before he finally buys. We live not far from Edinburgh and to jump on a plane to London to buy a motor it has to be what youre after.Its his money and its his hobby but theres no way it could be remotely linked to car sales as some have tried to instigate.
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