Some of you may know that I an avid MJ owner. This board was of great assistance to me in selecting the Panda and especially the MJ version. I have tried to help others in either buying or maintaining their Panda.

However, I am shocked to discover when thinking about trading in early next year and buying another MJ, that this great little car has depreciated to only 29% of it's original value!! I did realise that it could be as low as 37 - 39% but this!

The salesmen always say it's the mileage that has it so low ( I have 106,000 Kms or 66,250 miles. This is not a lot for a diesel)

I bought it as demo in April 2005 with 3000 Kms on the clock. It was priced at €14,125. I traded in a seven year old Fiesta 1.25 having to fork out €8,000

Now having tried three Fiat dealers in various counties, I have been told that I will have to come up with €9,500, €10,500 and €11,250. Taking the last figure, it works out at a retained 29% of it's original value. This means that it is now worth just under €5,000, €4,000 or €3,550

I am having to come up with €9,500 to change to an Opel (Vauxhall) Corsa with the same great little diesel engine and don't have to pay the €9,500 until Feb. 2010 - it's a deal called 50/ 50. You put up or trade in to half the value of the new car and pay the other half two years later.

I have also been quoted / come up with €10,000 to buy a Suzuki Swift with the same diesel engine but no special deals on the finance.

This is a hard one, I like my little MJ and it has been brilliant over the past almost three years. However, I really don't think I can afford another one

Is anybody else finding the same poor trade in value??

BJ 20

The value of cars at trade-in never cease to shock and sicken does it? No bad how low you think it is going to be, it's always worse.

Why are you considering changing? Is it just the old three year itch? I know it's a hassle, but if you must replace it would you not consider selling it privately? They are a sought after car and MJs certainly seem to hold good prices over here; a quick search now on Autotrader shows only one under £4,600. For the amount in Euros your talking I'll get on a ferry and come and buy it off you myself...

BJ20 said:

The salesmen always say it's the mileage that has it so low ( I have 106,000 Kms or 66,250 miles. This is not a lot for a diesel)

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They'll say anything. The mileage is too high, it's the wrong colour, no-one want a multijet, it's what the book says... This is all part of the game.
Anyway, if you've had the car 2.5 years, then you've taken most of the (real) depreciation, so running the car longer won't really cost you any more. If you really do want a new car, I'm sure you could sell privately for substantially more, and bargain with the dealer. Or alternatively go to the dealer and say, "I want that car, and I'll give you 8000 euros (choose your own value) and my car. However this offer is only available for today. If I come back tomorrow this offer won't be available".

BJ

Just a thought... What's the importation tax like for bringing in a car to RoI? There's the like of Fiatsupasaver where you could get a new MJ Panda for £6295 (about e8700). That might be an option and privately sell your own on autotrader for a decent price...

Or you could keep your current MJ... You really haven't encountered any problems with it during your ownership. It's a great wee car...

Reckon its the mileage that is killing the trade in value. Whilst its not loads of miles for a diesel engine, it is about double the average for a car of that age, so there are going to be loads of MJ's out there with a lot less miles.

sell it private,dealer has to get it prep'd,budget for repairs....more than often it goesstraight to market these days.

Thanks for the advice guys.

I have done my homework (again) and there is nothing out there that beats the MJ for MPG, Tax, Ins, size, reliability, drivability and difference (just look at the posts about it being ugly) - it's just such a pity it bottoms out so badly. The Opel (Vauxhall) Corsa is bigger and will cost more on Ins and give less MPG. Ditto for the Suzuki and the Mazda 2 (with it's 1.4 diesel engine). All of them being bigger will not allow me to zip around town and grab that (tiny) parking spot.

I have been thinking of selling privately and then heading to GB for a replacement. This country ROI hammers cars with a thing called VRT (Vehicle Registration Tax) which is 22.5% on your prices then there is 21% VAT on top of that!

There are very few MJs in ROI - lots of the 1.1 Active: its in the price range that attracts them. Unless somebody is doing serious mileage the initial asking price for the MJ here in ROI is not helping. SIMI price list show it as €14,450. Dealers quote €14,950 (€500 for delivery etc - ouch)

The reason I am thinking of selling? Here in ROI, the guarantee is 4 yrs OR 100,000 Kms. As I have exceeded that, I am wary of big bills. I had a few Renaults that cleaned me out of house and home with repair bills once they got past three or four years old. I don't want to go down that road again.

It really is going well and I am seriously thinking of holding on to it. With 22 - 25,000 miles every year, I would have over 120,000 miles inside five years. Wonder what they (lovely salesmen) would think of it then

I will be doing nothing this side of the new year - will keep you posted on how it works out. Could even be seeing some of your Pandas from GB side

Take care out there

BJ20

BJ20 said:

This country ROI hammers cars with a thing called VRT (Vehicle Registration Tax) which is 22.5% on your prices then there is 21% VAT on top of that!

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Serves you right for living in a country with a thriving economy, Guinness & Jamesons on tap and such magnificent countryside! :nerner:

No, you've take the biggest hit of deprecation there's a lot to be said for keeping the old girl. You're on the nice flat part of the curve now and loosing perhaps £1000pa which isn't too frightening. It's worth far more to you as a good car with a known history than it ever will to some pip-squeezing salesman.

I assume you've no outstanding finance, so why not stick away what you would be paying on a new motor in finance and keep it for any potential big bills? It's the approach I've taken for my Coupe which - to be fair - is far more likely to attract big bills than a Panda.

£150 per month soon adds up to a fair bit and - all being well - a nice Christmas in 2008. Wish you well in your deliberations fella!

What makes you think that a Corsa,Swift,Mazda 2 will hold their value any better?3 years down the line the response you get from the salesman will still be the same "Mileage too high,mate"

only car to get if you want to afford depreciation is a mini (in that class).

It's a very small BMW hatchback,certainly never has and never will be a proper Mini
Proper Mini here
https://www.fiatforum.com/members-motors/120758-another-white-100hp.html

i find a problem in the new mini.

mainly that its not all that mini anymore

on the inside it is small as well for all its interior space

I know this is a Fiat forum, but as you cover so many miles and it sounds like basic transport and low running costs you're after, you may be interested in what we bought for my wife (covers 25-30,000 miles a year).

A Hyundai Getz 1.5 diesel. (I can hear the yawns, but the money side is compelling). Cost us 8500GBP new (with discount) including air-con. Has a (important bit) 5 year unlimited miles warranty. regularly does 55mpg. After 5 years worry free driving and about 150,000 miles, even if it's worthless, it will have cost us...

8500GBP in depreciation over 5 years. I don't reckon you can beat residuals like that.

Plus, the first three services were free, and so far not one problem whatsoever (1 year).

Can't imagine Hyundai trade-in offers are great though!!

PandaPaul said:

I know this is a Fiat forum, but as you cover so many miles and it sounds like basic transport and low running costs you're after, you may be interested in what we bought for my wife (covers 25-30,000 miles a year).

A Hyundai Getz 1.5 diesel. (I can hear the yawns, but the money side is compelling). Cost us 8500GBP new (with discount) including air-con. Has a (important bit) 5 year unlimited miles warranty. regularly does 55mpg. After 5 years worry free driving and about 150,000 miles, even if it's worthless, it will have cost us...

8500GBP in depreciation over 5 years. I don't reckon you can beat residuals like that.

Plus, the first three services were free, and so far not one problem whatsoever (1 year).

Can't imagine Hyundai trade-in offers are great though!!

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Thing is you can get a multijet far cheaper than that. I got mine with aircon for under 7K. So i don't see that the hyundai is realistically cheaper even if you take into account its warranty.

i dont think that any fiats residual values are great to be honest

but then again they are generally cheaper to help this

PandaPaul said:

A Hyundai Getz 1.5 diesel!

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From an exchange of PMs with BJ20, I know he's not that desperate

I'm in the process of buying a new MJ, basically because used MJ's are few and far between, and don't depreciate too badly. Any car that has the plusses of an MJ just has to be valuable, so I think the salesman is just giving you the run-around.

As others have said, I'd make the trip over to ROI and buy it for that price.

Diesels are designed to do high mileages, 200/300 000 miles not being uncommon, and the Panda seems a well built and sound little car - look for problems on the web, they are few and far between. I'd say hang onto it.

I reckon it should be worth 50-60% of its value after 3 years. Besides, well maintained high miles cars are supposed to be in better condition than very low mileage (shopping trip) ones.

Also, if you do a trade now, you will take a big hit financially. If you keep the MJ, you will either have several more years of cheap and trouble free motoring (which is the likely outcome), or should the unlikely happen, and it needs repairing, then you'd be no worse off.

Adnap

One more thought: Renaults regularly come towards the bottom of reliability indexes. Not only is the Panda the most reliable of Fiat's cars, I saw in one survey that it made it into the top 20, IIRC.

Adnap

adnap said:

I'm in the process of buying a new MJ, basically because used MJ's are few and far between, and don't depreciate too badly. Any car that has the plusses of an MJ just has to be valuable, so I think the salesman is just giving you the run-around.

As others have said, I'd make the trip over to ROI and buy it for that price.

Diesels are designed to do high mileages, 200/300 000 miles not being uncommon, and the Panda seems a well built and sound little car - look for problems on the web, they are few and far between. I'd say hang onto it.

I reckon it should be worth 50-60% of its value after 3 years. Besides, well maintained high miles cars are supposed to be in better condition than very low mileage (shopping trip) ones.

Also, if you do a trade now, you will take a big hit financially. If you keep the MJ, you will either have several more years of cheap and trouble free motoring (which is the likely outcome), or should the unlikely happen, and it needs repairing, then you'd be no worse off.

Adnap

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I think 40-45% is a more realistic value for a 3 yr old Multijet with average miles, say 36K.

Whilst diesel engines should be good for high miles, people would always prefer a lower mileage car over a high mileage one and not without good reason. Even if the engine is great for 200K, other parts of the car will obviously wear the higher the mileage is.

I agree its much better to buy new (got mine just over a week ago) simply because a one year old MJ will not be far off what you can get a new discounted one for.

Nothing worse than a car that hasn't been used except one that has obviously been abused.

I'll happily buy a high mileage car which has mainly been used on motorways but wary of a city only driven car.