Second hand car prices

[Roverowner]

Originally Posted by pab

i never bought this car to appreciate...they where the best kept secret...a lot of car for the money.

Exactly! Lot of car for the money, like 2 diesels Volvo 945. The equivelent BMW or Audi to my 2005 tourer is about 60% dearer, 50% more mile and hammered (I see the idiots hammering them every morning on the way to work!) The interiors are junk compared to the Rover (a nice rancid smell of plastic)

Keeping my 2 Rovers for the summer etc. Junk car for the swedish winter!

I have never partexchanged a car yet (I´m 57 in December) asking for trouble. I´ve had a little hire car for a while whilst wittling down the short list of possible buys (that´s after selling the one I wanted to get rid of - privately) or taken the bus. Then with the cash in hand you are in the best position to bargain. I always try to get into the position of -he needs to sell it more than I need to buy it- Sometimes I´ve walked away just for the hell of it.....nice feeling

[pondweed]

I found myself in the weird position of selling our old car for £200 less than we paid for it 2 years previously... needing its cambelt doing, and a service!

And came across our new facelift Multipla (a 'not intended' purchase) on the strength that newer, with less miles and with cambelt and about £1500 of suspension and waterpump work done in the last six months - was LESS than we got for the one just gone!

[south bank]

Another car slippng through to the low price brackets is a 2002-on 7 series BMW. The equipment levels are stunning and they're now around £8000 for an average-ish mileage example. It might be a bit thirsty, but a good buy nonetheless. Audi A8s and Alfa 166s follow a similar story.

The best thing about all of these other big 'posh' cars though, is the fact that I can look at them and sit in them but still prefer the 75. I even prefer it to the Mercedes-Benz CLS and that is pretty much a perfect car. The 75 has most of the features of these cars, is far better looking inside than any of them and represent the best value on the market.

I always argue that the existing cars haven't physically lost any features over time or with MG Rover's passing and therefore, are still £16-25,000s worth of car but for maybe 90% less price.

I keep a keen eye on the price of 75s, in particular ones matching my spec and mileage and I have noticed their prices creeping up steadily. I am confident it would sell for a fair amount more than I paid last year as I see enough others come and go at higher prices. The 75 was always going to at least provide a year's worth of depreciation free ownership, I knew that when I bought it.

With due consideration to the theory of used car purchase and p/x prices being inflated, artificially to coax people off used and in to new cars, I still think it is fair to say we haven't actually lost any money, relatively, on our cars and have possibly even gained at a faster than average rate in the current climate. I do think generally used car prices are being pushed up, possibly due to dealers exploiting the demand for used cars now that everyone is suddenly so poor.

[pondweed]

...as long as you didnt buy it new before the loss of MGR, that is... (which I imagine is the vast majority of those on here)

[JohnDotCom]

I can think of a few members that bought New at the Wrong time and lost a fortune overnight so to speak.
Me for example 5 weeks before they went Bump!!

[Duotone]

Originally Posted by JohnDotCom

I can think of a few members that bought New at the Wrong time and lost a fortune overnight so to speak.
Me for example 5 weeks before they went Bump!!

Me too.

I bought my 75 in june 2004 cost about £16,300, over five years later it

might be worth £4,500 to £5000 [if I am lucky and if I was going to sell, or

am I being optimistic]. Is that about 70% loss over 5 years ?? Not too bad

for a car thats not in production anymore, nor does the manufacturer exist.

Dave T

[south bank]

You're right in your valuation and I've just worked out that the 75s have depreciated less than an Alfa Romeo 166 of the same age. Granted the initial depreciation was a bit steep but in reality it's hardly depreciated since then.