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General Depreciation!

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General Depreciation!

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mss1641

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I have 2014 500L trekking model, think it was around £19000 new, value now....around £8500 and dropping!
Spoke to dealer and he stated depreciation of 500l's has plummeted in last year, so if you have any equity get rid soon!
 
We were advised by the dealer that the 500L had poorer residual values than the 500X we were originally looking at and pretty much all the review sites predicted the same when it first came out, so it's not a surprise to me.

It doesn't really bother us as we chose the car because we liked it, not based on resale value. If we do decide to go for another car in the nearish future, we'll do it when the finance ends and simply trade the 500L in at no loss. Learned our lesson the hard way trading our Panda in for the 500L and losing almost 2k due to being only halfway through the finance. :eek:
 
mss1641 said:
I have 2014 500L trekking model, think it was around £19000 new, value now....around £8500 and dropping!
Spoke to dealer and he stated depreciation of 500l's has plummeted in last year, so if you have any equity get rid soon!
Click to expand...

that's only moderate depreciation..,
just be glad you didn't buy something "expensive";)

2/3 off original list is "normal"..,:eek: just a UK thing where the market is flooded with "company and ex-lease" vehicles. (n)
go to France where there are very few company cars, and used values are MUCH better.:rolleyes:
 
Ouch! That sounds like a big hit doesn't it.

Part of the problem for both the current Panda and the 500L is that they are now significantly cheaper to buy new than they were at launch. Contrast this with the 500, which has only ever seen price rises really since it was launched in 2007 (I think this has finally tapered off now, but not massively).

My 2012 Panda 1.2 Easy cost me £10,050 with the various options added. If I bought the same car now it would be nearly £1,500 cheaper with all of the extra discounts.

I kind of agree with the dealer's comment about the 500X's residuals, but a lot will depend on whether it sells well or not IMO - the jury is out for the time being. I'm not sure the current Panda and 500L have sold all that well to be honest, at least not as well as expected.
 
Super Uwe said:
Ouch! That sounds like a big hit doesn't it.

Part of the problem for both the current Panda and the 500L is that they are now significantly cheaper to buy new than they were at launch. Contrast this with the 500, which has only ever seen price rises really since it was launched in 2007 (I think this has finally tapered off now, but not massively).

My 2012 Panda 1.2 Easy cost me £10,050 with the various options added. If I bought the same car now it would be nearly £1,500 cheaper with all of the extra discounts.

I kind of agree with the dealer's comment about the 500X's residuals, but a lot will depend on whether it sells well or not IMO - the jury is out for the time being. I'm not sure the current Panda and 500L have sold all that well to be honest, at least not as well as expected.
Click to expand...

The Panda Trekking has gone up we bought ours, but the trade-in value is a shocker - we paid £12,945 two years ago and dealer gave us just £5,250.

If we'd waited until the finance was up in another 2 years, we'd have got a guaranteed £3,750 for it on trade-in, so only losing another £1,500-ish. Hard lesson learned and won't be making that mistake with the 500L.
 
SuffolkBexx said:
The Panda Trekking has gone up we bought ours, but the trade-in value is a shocker - we paid £12,945 two years ago and dealer gave us just £5,250.

If we'd waited until the finance was up in another 2 years, we'd have got a guaranteed £3,750 for it on trade-in, so only losing another £1,500-ish. Hard lesson learned and won't be making that mistake with the 500L.
Click to expand...

Yes, I know the feeling as well:) Can't remember what trade-in I got for the Panda in 2014 but it really was terrible.

Never mind...:shrug::)
 
Not so bad here, retail list with extras on my March 2014 Trekking was €22500, but I got an amazing trade in on my Megane of €2500 more than Renault offered me on a Scenic.
Very recently I was quoted €14000 if I traded the Trekking in for a 500X, trouble is that to get the model I want it would be around €28000...And I don't want it that badly!
 
There are loads of 65 reg 500Xs available in the dealer network at humungously discounted prices. That doesn't bode well for their residuals...
 
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