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+--- Thread: Residuals (/Thread-Residuals)
RE: Residuals - WB - 21-06-2012 10:34pm
(21-06-2012 05:22pm)defender_uk Wrote: err....could never do percentages!! lol
it was low 30K for e 5 dr prestige lux with 10k miles.
Ouch - I bet they'd be selling that for very close to £40k! If you're anywhere near London I'd sell it for you and split the difference!
RE: Residuals - THEMACS - 21-06-2012 10:46pm
Well seeing as many of the banks have just been downgraded, you can expect most assets to depreciate like a stone as no bugger will be able to buy one as the banks won't be able to lend!! Well probably not that bad yet but it doesn't seem to be getting any better..... What a Wholly Global Mess, it's a fricking Joke!
RE: Residuals - smayo - 24-06-2012 09:49am
Something that no-one seems to have mentioned is that the dealers need to make a profit, so they will by necessity only offer you what they can sell it on for less their standard profit margin.
They also have little or no incentive to take second hand models right now. For these they will not be able to guarantee a level of return, whereas the new ones are practically walking out the door and since there is currently no discounting in the UK (and extremely little overseas), they have a guaranteed level of return and no hassle, so why fill up the forecourt with second hands when they can make plenty of profit off new orders?
Sure they will take a second hand from you, but only so long as they can make a very good return on it to make it worth their while, so I am not surprised at all in rubbish part ex prices.
RE: Residuals - Straydox - 24-06-2012 12:25pm
Smayo - You make a very good and valid point and perhaps I should add the the used car market in the UK is still deeply troubled and almost nothing is holding its value. It was the flaky state of the used car market 3 years ago that prompted me to go down the private contract hire road for the last car and step even further back and take my RRE as a company car this time around.
It seems that for the first time in about 15 years (for me anyway) that having a company car and taking the income tax burden actually made economic sense.
RE: Residuals - THEMACS - 24-06-2012 10:41pm
(24-06-2012 12:25pm)Straydox Wrote: Smayo - You make a very good and valid point and perhaps I should add the the used car market in the UK is still deeply troubled and almost nothing is holding its value. It was the flaky state of the used car market 3 years ago that prompted me to go down the private contract hire road for the last car and step even further back and take my RRE as a company car this time around.
It seems that for the first time in about 15 years (for me anyway) that having a company car and taking the income tax burden actually made economic sense.
The income tax is way less than actually paying for the car! A company car is always going to be cheaper for an employee, unless you own the shares in the company that is.
RE: Residuals - Straydox - 24-06-2012 11:57pm
(24-06-2012 10:41pm)THEMACS Wrote: The income tax is way less than actually paying for the car! A company car is always going to be cheaper for an employee, unless you own the shares in the company that is.
True, though I gave up on buying cars with real (my) money 3+ years ago - when it finally dawned on me that the depreciation/risk were unacceptable and that it was rather brighter to effectively rent a vehicle for a pre-agreed time period/mileage without any residual value worries than buy.
RE: Residuals - mark_n - 25-06-2012 06:13am
All depends on whether you sacrifice salary by having a company car. If the company car is available to you for no change in your salary, then of course it is worth it. If, however, you sacrifice salary by having a company car (or, conversely, do not then receive an allowance in lieu of a company car), the position gets less clear.
Effectively renting a car for 3 years can make sense, especially if you do all the miles you have paid for and have something better to do with the money you would have locked up in the car in the meantime. A big factor will always be the interest rate you pay on the money you are borrowing or the return, net of tax, you sacrificing on the money you are spending.
RE: Residuals - DaveR - 27-07-2012 07:47pm
Hi all,
I am looking to sell my Evoque over the next few weeks as my new one will be due in September, I am currently trying to work out a sensible price to ask for it, Looking at auto trader / fleabay etc the prices seem to be holding very well for certain cars (seems the 3 door manuals aren't holding up quite as well as 5 door auto's) but perhaps some of that is specualtive.
I'd be ineterested to hear what people think regarding the current resale/ residual values (especially anyone whos's sold recently)
RE: Residuals - mark_n - 27-07-2012 11:25pm
Did anyone expect otherwise?
RE: Residuals - WB - 28-07-2012 08:59pm
(27-07-2012 07:47pm)DaveR Wrote: Hi all,
I am looking to sell my Evoque over the next few weeks as my new one will be due in September, I am currently trying to work out a sensible price to ask for it, Looking at auto trader / fleabay etc the prices seem to be holding very well for certain cars (seems the 3 door manuals aren't holding up quite as well as 5 door auto's) but perhaps some of that is specualtive.
I'd be ineterested to hear what people think regarding the current resale/ residual values (especially anyone whos's sold recently)
I've had several conversations about this subject with dealers who are generally selling low mileage cars at pretty much list price for sensibly specced cars. Manuals and coupes however aren't holding values as well. Keep in mind lead times are still around 6 months and prices have gone up for most specs so if you've got a desirable spec you can probably sell it privately for between 95 and 100% of what you paid.
I'd suggest eBay classifieds (rather than auction) which I've had good results with and is better value than autotrader