Nasty Surprise

Started looking at possible new car- paid £43500 in march 2014 - Offers starting at £28K !!!!!!!!!!!!
I was assured by salesperson ( yes I know) car would hold its value.
2014 Prestige with Glass roof, Blue with silver roof and 20' Wheels
Think may need to keep hold of it

It's an unfortunate fact of life - our cars lose money! First owner probably loses most too. You'd definitely get much more for that selling it privately though but there's hassle involved. The dealers know that and play on it. When I was looking for one, the best offer I got from dealers for my FL2 against a near £35k motor was £7.5k. I sold it privately for £9250 to the first person that looked at it. Whenever I've bought a new car I've always got a px price from the dealer on the understanding that I have the right to sell it privately right up to the point of sale. Of three new cars bought, I only let the dealer have my old car on one occasion as the others were sold for more than the Daley (wow, a rather apt spelling auto-correct choice of word for dealer!) offer a week or so before delivery. If you employ this method you need to first do the deal for the best price for the new one in case you sell your old one privately. My view is that if you can't sell it for more than the dealer offers you by the time the new car us ready for handover, you've done well in getting that price from him in the first place!!

Recon I did well then when I sold my Evoque Pure Tech that I bought in March 2013 & sold in June 2014. That was a Pure Tech that was specced up to near Prestige spec less electric seats with Oxford leather, memory mirrors, & possibly one other item but I got the dealer to colour code some of the body parts in a contrast colour which obviously added to the cost.
Base Pure Tech on order was £33k exactly, with my additions took it to just around the £38K mark. Sold it in the June for £31k privately & that was to a trader.
May not sound fantastic but after the finance was paid off I still had a return cheque for around £3000.

The blue/silver could be part of the problem, it ain't a popular combination. Just a thought.

(01-11-2015 09:28am)Gjh0702 Wrote:  Started looking at possible new car- paid £43500 in march 2014 - Offers starting at £28K !!!!!!!!!!!!
I was assured by salesperson ( yes I know) car would hold its value.
2014 Prestige with Glass roof, Blue with silver roof and 20' Wheels
Think may need to keep hold of it

LR Liverpool say they would Retail for £33950- and reason for drop against what I was predicted when I bought is that supply is good now !!! and albeit car has good spec they can only base price on basic price of car- Salesperson didn't have an reply when i pointed out that they will resell it for a higher price than a basic car though

Not as bad as my Ranger Rover. I bought it 2 years ago at £45K and the trade in value was £19K at the same dealership I bought it from.

Who wants to buy an old model with a clunky engine when there is an updated version with a slick new engine available for not much more money than you are being offered for yours? Also 12 to 24 months after purchase is when you get the biggest depreciation and it only slows down after year three.

Back in Feb this year I was offered £33750, on a 63 plated prestige against a new discovery sport. When it came to finally confirm spec for hew car in July that part ex price had dropped to £28000. I cancelled my order and have stayed with the evoque and have not regretted that decision at all.

Also bear in mind that dealers don't want any cars at the moment as they have loads and loads of undelivered new ones that are clogging up their storage yards because LR has stopped them delivering due to tachnical issues with Evoques, Discosports and RRS2 software ............. Also we are only a month after a plate change, dealers have more used cars than they know what to do with, taken in as part exchanges. If we get 3 flakes of snow in the next month dealers will be screaming out for 4WD capable vehicles and charging a premium for them (whether they will be paying a premium to get them though is a different matter!)

This is why I buy cars for the long term, and always consider that when choosing, ok the Evoque is smaller boot space than I'd like, but is still the car i'd choose today, and since an extra 4-5 mpg from the new engine isn't going to outweigh the depreciation, i'll stay with mine as long as it's a good one...

Ok occasionally you can get a dog, you have to get rid of quick, but so far been lucky.

Just replaced our Volvo C30 with a V40 a year old, got a top of range for over £9000 under list. But you take a chance with year olds as to why they are for sale, This one had been a dealer staff car, so hopefully no reason for sale other than it's a year old so they need to update, but it could also have been ragged every day!