dave said:
Listen to you the King of Typo
Depreciation- what's the story?
- Thread starter Aurelio Lampredi
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Depreciation- what's the story?
Listen to you the King of Typo
thepottleflump said:
rich! I take it we are talking parts of London & nowhere north of Watford?Dont forget the sheer amount of cars made these days,dealers are desperate to sell & meet their targets.Also about 3/4 years ago there was a 'car crash' when secondhand prices dropped alarmingly but have steadily grown since.
T14086 said:
yes.....
wheres my rolls royce foot bath.........dave said:where is emerika
Isn't that Texas ?
Long may this madness continue. I like the fact that I can afford an Alfa GTV or 156 or even a barchetta which haven't gone around the solar system and back. I'm only planning on spending about £3.5k on a car and any one of the above is within easy reach of this budget.. Infact I saw on autotrader a 2001 AR156 2.0TS Lusso with 46k on the clock for £3100... bargain at twice the price IMO
The way I see it is, the new reg plates push folk to keep up with the Jones', I think this has got worse in Scotland of late.
Credit/Finance is more easily accessible so why not if your that way inclined?
No one wants to be at the side of the road so after cars run out of warranty they need to get a new one for piece of mind.
The only upside of this I would think is it keeps death traps off the roads.
Liam
Credit/Finance is more easily accessible so why not if your that way inclined?
No one wants to be at the side of the road so after cars run out of warranty they need to get a new one for piece of mind.
The only upside of this I would think is it keeps death traps off the roads.
Liam
almost exactly the reason i bought a brand new panda for mrs t, reliability (i prayed) from a brand new car, full breakdown cover thrown in so wouldn't be stranded, as her mileage would increase from 500 a year to about 5000, not massive, but i think the money for peace of mind was well spent.
contrast this with the tub, which was simply looking for an excuse to leave me stranded/aplopetic/in tears/kicking it, and you see what i mean....
contrast this with the tub, which was simply looking for an excuse to leave me stranded/aplopetic/in tears/kicking it, and you see what i mean....
I thought this might make an interesting contrast with the ad shown previously: http://www.trademe.co.nz/Trade-Me-Motors/Cars/Fiat/auction-57460839.htm
That's a nice round £2700 at today's exchange rate.
We have an interesting situation with the new Stilo. It is on a price reduction to $29,995 brand new. Identical examples (same model) are selling for $27,000 when three years old. Even the least expensive was $23,000, which works out to less than 10% depreciation (in theory) - can't be right, so I expect that prices will fall soon for used examples...
-Alex
That's a nice round £2700 at today's exchange rate.
We have an interesting situation with the new Stilo. It is on a price reduction to $29,995 brand new. Identical examples (same model) are selling for $27,000 when three years old. Even the least expensive was $23,000, which works out to less than 10% depreciation (in theory) - can't be right, so I expect that prices will fall soon for used examples...
-Alex
raton_laveur
Established member
dave said:where is emerika
It's right next to agypt!
SeicentoS
Established member
I would never buy a new car, hell I sold my 2001 Seicento to get a 12 year old starlet turbo! although the starlet does hold its price veryyyyyy well and the starlet is in a lot better condition than my seicento, however if I could afford a brand new car I might buy one, but new cars don't really appeal to me as most look crap and I can't justify spending over 10k on a car.
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Personally, I can see myself flogging the Stilo next year, and then buying a new car [Brera :yum:] - keeping that for 3 years or so, or until warranty expires, and then buying new again.
It has nothing to do with keeping up with the Jones' for me, just have the means to do it, and want to drive something I want, without having to compromise on anything
It has nothing to do with keeping up with the Jones' for me, just have the means to do it, and want to drive something I want, without having to compromise on anything
Aurelio Lampredi
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Hi folks,
Thanks to everyone for posting some really interesting answers to my question. I think that my mistake was looking at the situation from a too 'logical' standpoint (expensive consumer good, little used with loads of life left = must be worth plenty of cash). I see the logic about just wanting the latest model, especially when air con, better ENCAP figures and all the rest come as standard, plus there are no worries about an out of warranty problem cropping up such as a blown ECU. (My brother has recently got rid of his Stilo because it developed an undiagnosable cutting out problem and the garage told him all they could think of to try was fitting new throttle bodies at some huge cost with no guarantee that it would solve the problem).
Also interesting how the 'new car as a status symbol' can discourage people from wanting older cars. I guess much the same applies to why big Fiats have high depreciation as no matter how good they are as they just aren't seen as being a status symbol in the way certain German cars are. I can imagine that in some corporate structures saying you wanted a new Fiat or Alfa might even be regarded as evidence of being dangerously independent of thought!
I guess it is just a matter of seeing depreciation as part of the joys of car ownership. However, at times I wish I could still be bothered with all the tinkering and searching for old parts that goes with running an old banger, sorry I mean 'classic' car. My old 128 3p cost me next to nothing to buy and nothing in depreciation and the fact that my own hands had rebuilt/ welded/ painted every part of it made it somehow much more personal to drive.
Thanks to everyone for posting some really interesting answers to my question. I think that my mistake was looking at the situation from a too 'logical' standpoint (expensive consumer good, little used with loads of life left = must be worth plenty of cash). I see the logic about just wanting the latest model, especially when air con, better ENCAP figures and all the rest come as standard, plus there are no worries about an out of warranty problem cropping up such as a blown ECU. (My brother has recently got rid of his Stilo because it developed an undiagnosable cutting out problem and the garage told him all they could think of to try was fitting new throttle bodies at some huge cost with no guarantee that it would solve the problem).
Also interesting how the 'new car as a status symbol' can discourage people from wanting older cars. I guess much the same applies to why big Fiats have high depreciation as no matter how good they are as they just aren't seen as being a status symbol in the way certain German cars are. I can imagine that in some corporate structures saying you wanted a new Fiat or Alfa might even be regarded as evidence of being dangerously independent of thought!
I guess it is just a matter of seeing depreciation as part of the joys of car ownership. However, at times I wish I could still be bothered with all the tinkering and searching for old parts that goes with running an old banger, sorry I mean 'classic' car. My old 128 3p cost me next to nothing to buy and nothing in depreciation and the fact that my own hands had rebuilt/ welded/ painted every part of it made it somehow much more personal to drive.
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20months ago I was ready to spend £10k on a 3-year old Civic Type-R. But no one would insure me (too young). I then learnt that it would cost me £800 on insurance whether I spend £400 or £4k on a small ~1 litre car. I couldn't quite justify spending £4k on a box on wheels. It would've been quite crap (slow and small), but as it would also be "decent" in terms of mechanics and looks you'd have to look after it properly which is a further cost in time, effort and money. I can justify all those costs on a quick car though, but as that wasn't an option...
So, I went out and spent £210 on a 15 year old Uno, spent a couple of hundred on tax and simple maintenance stuff and was up and running for a total of £400.
Over the past 20 months total cost of motoring excluding fuel and insurance has been about £1200 and that's excluding the £400 I've just sold it for recently.
I also earnt £4k in business mileage, but disregard that from any calculations as not everyone has that privilege.
The other £10k I had to spend before? Well, I topped that up with money from my student loan and 0% overdrafts and purchased an investment property. I now live completely cost free at Uni.
The recent upgrade to a VTi has meant I'm half way there with the Type-R performance and can actually get insured thanks to the 2 years NCB earnt.
The point of my post? Well, most people can be clueful about financials if _want_ to be. Or rather, do actually want to do something to get there and not just dream about it all day. Most people can cut all non-essentials for 3-5 years and after that period can really be in a position of finacial freedom. I'm 20 now and like the idea of not having to work in a crappy 9-5 job after 30 years old. I could be at home all day with my kids/family or on holiday every few weeks or whatever.
As for the status/image thing. Well, having an image IS a cost. So factor that in. Is the image actually worth x or y?
I, personally, love it that my Uno was so reliable, yet so cheap. Friends used to laugh, but they never even had a car because all they wanted was the latest expensive stuff. I also like having the low profile and limiting my true "personal profile" to close people that do actually know me.
It all comes down to happiness and what people are happy to do. My advice (or comment) to the OP is that, I think your points are very true and valid. However, don't spread them too much. The fact that MOST do one thing, means me/you/we/anyone (who are the minority) can actually achieve a lot more in other ways to benefit ourselves. If no one bought new cars all the economics of used cars being cheap will no be the case. Get the idea?
It's a bit like only 10% of the population own 90% of the assets. If you follow the majority everything (costs/price) is most likely already factored in.
So, I went out and spent £210 on a 15 year old Uno, spent a couple of hundred on tax and simple maintenance stuff and was up and running for a total of £400.
Over the past 20 months total cost of motoring excluding fuel and insurance has been about £1200 and that's excluding the £400 I've just sold it for recently.
I also earnt £4k in business mileage, but disregard that from any calculations as not everyone has that privilege.
The other £10k I had to spend before? Well, I topped that up with money from my student loan and 0% overdrafts and purchased an investment property. I now live completely cost free at Uni.
The recent upgrade to a VTi has meant I'm half way there with the Type-R performance and can actually get insured thanks to the 2 years NCB earnt.
The point of my post? Well, most people can be clueful about financials if _want_ to be. Or rather, do actually want to do something to get there and not just dream about it all day. Most people can cut all non-essentials for 3-5 years and after that period can really be in a position of finacial freedom. I'm 20 now and like the idea of not having to work in a crappy 9-5 job after 30 years old. I could be at home all day with my kids/family or on holiday every few weeks or whatever.
As for the status/image thing. Well, having an image IS a cost. So factor that in. Is the image actually worth x or y?
I, personally, love it that my Uno was so reliable, yet so cheap. Friends used to laugh, but they never even had a car because all they wanted was the latest expensive stuff. I also like having the low profile and limiting my true "personal profile" to close people that do actually know me.
It all comes down to happiness and what people are happy to do. My advice (or comment) to the OP is that, I think your points are very true and valid. However, don't spread them too much. The fact that MOST do one thing, means me/you/we/anyone (who are the minority) can actually achieve a lot more in other ways to benefit ourselves. If no one bought new cars all the economics of used cars being cheap will no be the case. Get the idea?
It's a bit like only 10% of the population own 90% of the assets. If you follow the majority everything (costs/price) is most likely already factored in.
I just thought that it's time had come, and nowadays I would rather do things other than mig welding in my spare time! Here is one car I wished I hadn't scrapped though. It would probably be worth more than my Marea now!
Fine car, I still have two
Regards,
Al
Ah, ye olde thread
but a timely reminder thou....
My budget for motors is about 500 to 1500 and I think it's harder to get good cars in that range now as people are getting more thrifty. Like I noticed the multiplas going away from 1200 towards the 1500 for the ELX models over the last few months.
Or maybe they just see me coming and bump the price up as they know I'm going to a. drive it round the world, b. sell it to a museum for a profit, c. go over victoria falls in it....
Jim
My budget for motors is about 500 to 1500 and I think it's harder to get good cars in that range now as people are getting more thrifty. Like I noticed the multiplas going away from 1200 towards the 1500 for the ELX models over the last few months.
Or maybe they just see me coming and bump the price up as they know I'm going to a. drive it round the world, b. sell it to a museum for a profit, c. go over victoria falls in it....
Jim
