Depriciation!?

mole · 06-10-2008, 15:52

ok, since buying my 57 plate fabia3 1.9TDI new for about 13k we have had a baby and can do with a bigger boot, went into skoda today to look at getting somthing with a boot, be it the estate fabia or a Octavia. anyway, found out we owe £8,700ish on the finance we got and the dealer said that my car is worth about £1k less than that

it only has 15k on the clock give or take. can that be right???? i would of thought it would of been worth 10k all day long!

**JaneC** · 06-10-2008, 16:06

This is what Glasses say (from Vauxhall website)

Skoda Fabia 3
1.9TD Diesel 5-door Hatchback
5 Speed Manual Front Wheel Drive
Year: 2007 57
Mileage: 12,000

Part-exchange Price:
Excellent condition:
£8530

Average condition:
£7770

Below average condition:
£6840

Dr Zoidberg · 06-10-2008, 16:06

Of the 13k price there's £1950 of VAT included.
From your point of view that's lost immediately you buy the car so the depreciation in the first year is always the worst.

Once you take the VAT off that's basically an 11k car you bought so there's no way a dealer would offer you 10k after a year. Privately you should see 9.5 *if* you can find a buyer.

It's not far off book price I'm afraid so if you can't sell it privately for a good sum then you'll be best off sticking with it for a year or so.

Vehicle summary

Skoda Fabia 3
1.9TD Diesel 5-door Hatchback
5 Speed Manual Front Wheel Drive
Year: 2007 57
Mileage: 15,000

Estimated value of your car

Part-exchange Price:
Excellent condition:
£8380
Average condition:
£7640
Below average condition:
£6720

mole · 06-10-2008, 16:26

oh well, looks like i'll have it for aother 12 months!

redbaron · 06-10-2008, 16:48

something is worth what someone will pay for it.....

having said that if the dealer wants your business they will work with you to make that 1k disappear... especially fi you are less choosy about colour spec etc

mole · 06-10-2008, 17:24

yeah, skoda could make it go, but there wasnt realy a car that stood out to me tbh, so might be looking at a VW or SEAT. going round the car show rooms tomorrow to have a look,

helix · 06-10-2008, 20:30

Quote:

Originally Posted by mole

yeah, skoda could make it go, but there wasnt realy a car that stood out to me tbh, so might be looking at a VW or SEAT. going round the car show rooms tomorrow to have a look,

Mole, did you know there's a facelifted Octavia out in the new year?
You might want to wait till then anyway and see if it appeals to you as you're undecided at the moment.

Decron · 06-10-2008, 20:58

You should consider a Roomster. It will probably be ideal for your needs.

Estate Man · 07-10-2008, 09:09

Mole, yes that sounds about right value wise. Remember, biggest drop in value for any car is during the first 12 months...doesn't really matter if you are keeping it over a long period. At the end of the second year you will see the price stabilise somewhat.

A friend with a Merc 500CLK (£48k paid for it new 2yrs ago) has just been offered £11,900 for it on a trade in against another 50K car. Is that crazy or what!

Personally, I would recommend the Fab 2 TDI Estate for your new situation, masses and masses of room everywhere...try one! But then, I'm biased as I love mine!

snownrock · 07-10-2008, 09:20

This is putting me off buying new, but then who doesnt know about depriciation, but there are some cracking deals at the minute of the Fab estate and Roomster... choices choices.

Hearny · 07-10-2008, 12:52

I agree, if you bought 12 months ago (I did) you can get a much better deal now. I have to say within 6 months of buying mine, I could have got 0% finance and probally a lower purchase price. The dealers are desparate for your custom, they aint shifting many cars.

Estate Man · 07-10-2008, 14:54

Unlike motorcycle dealers who are having a good time still with some increasing their business as car buyers turn more to motorcycles and scooters!

Decron · 07-10-2008, 16:03

I had a fantastic deal on mine exactly 12 months ago and despite some slightly higher than expected depreciation I am still in good shape especially as I plan to be owning the car over the next 5 years minimum.

If you want to feel conned about buying a car, go and buy a new Citroen. A one year old C4 VTR+ will loose you about 45-50% when trading in.

HZ123 · 07-10-2008, 20:24

Today, like yesterday and tomorrow is the wrong time to be selling or part exing a car. It probably is going to get a lot worse and the industry must have some real concerns.

mole · 08-10-2008, 20:57

well ive decided to keep it for 18months ish untill near the end of my PCP, then going to buy new again

in vw today he hold me that my car is losing nearly £400 a month

and he advised me to come back near the end of the 3yr PCP and the chances are i'll be better off and not in negative equaty(sp)

daveclayton · 08-10-2008, 22:33

part ex'd fabia 3 wwith all the gadgets is now on the seat forecourt for 9995. about 4 months old, 5000 miles

Black · 14-10-2008, 22:04

I am sorry to say but I really doubt you will be in positive equity in 18 months time. If so it is going to be marginal.
Also consider the extra interest you are going to pay to the end of the deal. What is your GFV?

Decron · 14-10-2008, 22:12

Quote:

Originally Posted by Black

What is your GFV?

She isn't worth much, maybe a few quid. She scrubs up quite well though and she does know how to use a mop so maybe a bit more than I thought.

snownrock · 15-10-2008, 08:13

Boom Boom

Tom_vRS · 15-10-2008, 08:46

Depreciation sucks. Buying new cars and not keeping them for atleast 2/3 years is a guaranteed way to become very poor!

There are of course exceptions such as cars with long waiting lists, but these are few and far between.

I paid £9600 for a brand new Corsa CDTI SXI+ with leather and a/c in 2006. It listed at over £13k so got a good deal. It gave me backache to drive and had to part ex it just 6 weeks later, got £7700 for it. Imagine if I'd paid list!

Dad likes his Citroens. He paid £13k for his Xsara back in Sept 2004. Its done 32k and hes just been offered £1800 p/x from the same dealer. Shopping around shows this really is what its worth, hence hes decided to keep it which has worked out ok for me as hes letting me use it for run around journeys leaving mine for longer runs only and "fun" duties

Depreciation is a fact of life, and a bitter pill to swallow. Unless you drive an old bangor or something a bit special its the biggest cost of owning a car, completely shadowing fuel economy differences between models, road tax etc...

Estate Man · 15-10-2008, 10:20

A few years back when running our business, my wife and I used to change our vehicles every 12-18 months. The mileage on each vehicle would be average. It cost us a lot obviously...but we got good deals each year from our dealer. It was a case of give a chunk of our profit to the tax man or drive around in a new car instead (car being a business asset)...a no brainer!! We no longer have the business and we don't have that tax incentive to change each year, so we just buy a motor and run it for around 6-7 years each time. Except we now have the Fabia 2 Estate diesel 1.4, and we intend to keep that for at least 10 years...unless it turns out to be a dog! Might keep it even longer. That's why we bought a Skoda for it's build quality etc.

But my point here is...we have found motoring costs are in the main very cheap if you keep a motor. Higher servicing costs as the vehicle ages still have proven less than the cost of changing a vehicle every 12-18 months. Depreciation is no longer a problem as such. Make the motor work for you! Just saying how it works for me!

mole · 15-10-2008, 16:32

Quote:

Originally Posted by Black

I am sorry to say but I really doubt you will be in positive equity in 18 months time. If so it is going to be marginal.
Also consider the extra interest you are going to pay to the end of the deal. What is your GFV?

well in 2 years i have a guaranteed value of £5.7k ish so if my car is only worth 7.7/7.9 now its only going to lose 2k in 2 years if you think of it that way.

but i still owe 8.7k ish paying 145 over 24 months = £3.4k take away from the 8.7 and i'll owe 5.3 after the 3 years of payment, giving me a slight profit of £400! WOOOOOOOOOOOOOOT

you always expect depriciation when you buy new cars just didnt expect 5kish in 12 months

HZ123 · 15-10-2008, 17:16

Mole ; Is that quote as safe as a bank quote. I fear neither is because your quote is against what they wish to sell you. It is all relative, the plus point is in the climate for the next 2-3 years new car values will remain dormant. Just listenning to the business news and all the gains of the week are almost gone.

mole · 15-10-2008, 20:15

no its guaranteed, thats why its called a guaranteed future value

markmi · 15-10-2008, 20:17

do you know about the half three quarters rule on hp agreements, have a look on your agreement when you hit the point of having cleared half the value of the car you can give it back and walk away, normally works out to about 2 years into your hp/pcp agreement, look it up on the net and check your hp/pcp paperwork or even ring your hp company.

06-10-2008, 15:52	#1
mole Briskodian Join Date: Nov 2007 Posts: 234 Members Car: Thanks: 6 Thanked 7 Times in 7 Posts	Depriciation!? ok, since buying my 57 plate fabia3 1.9TDI new for about 13k we have had a baby and can do with a bigger boot, went into skoda today to look at getting somthing with a boot, be it the estate fabia or a Octavia. anyway, found out we owe £8,700ish on the finance we got and the dealer said that my car is worth about £1k less than that it only has 15k on the clock give or take. can that be right???? i would of thought it would of been worth 10k all day long! __________________

06-10-2008, 16:06	#2
JaneC Beeming Join Date: Jan 2003 Location: North Essex Posts: 3,294 Members Car: Blue Z3 Thanks: 0 Thanked 23 Times in 17 Posts	Re: Depriciation!? This is what Glasses say (from Vauxhall website) Skoda Fabia 3 1.9TD Diesel 5-door Hatchback 5 Speed Manual Front Wheel Drive Year: 2007 57 Mileage: 12,000 Part-exchange Price: Excellent condition: £8530 Average condition: £7770 Below average condition: £6840 __________________ Jane.

06-10-2008, 16:06	#3
Dr Zoidberg Briskodian Join Date: Jun 2003 Location: On the back of an AA truck with a failed turbo Posts: 10,858 Members Car: Octavia II 2.0 TDi Elegance Thanks: 34 Thanked 199 Times in 150 Posts	Re: Depriciation!? Of the 13k price there's £1950 of VAT included. From your point of view that's lost immediately you buy the car so the depreciation in the first year is always the worst. Once you take the VAT off that's basically an 11k car you bought so there's no way a dealer would offer you 10k after a year. Privately you should see 9.5 if you can find a buyer. It's not far off book price I'm afraid so if you can't sell it privately for a good sum then you'll be best off sticking with it for a year or so. Vehicle summary Skoda Fabia 3 1.9TD Diesel 5-door Hatchback 5 Speed Manual Front Wheel Drive Year: 2007 57 Mileage: 15,000 Estimated value of your car Part-exchange Price: Excellent condition: £8380 Average condition: £7640 Below average condition: £6720 __________________ Alex "I laugh in the face of danger, then I hide until it goes away" www.drzoidberg.co.uk

06-10-2008, 16:26	#4
mole Briskodian Join Date: Nov 2007 Posts: 234 Members Car: Thanks: 6 Thanked 7 Times in 7 Posts	Re: Depriciation!? oh well, looks like i'll have it for aother 12 months! __________________

06-10-2008, 16:48	#5
redbaron Briskodian Join Date: Jun 2003 Posts: 9,584 Members Car: Thanks: 18 Thanked 73 Times in 63 Posts	Re: Depriciation!? something is worth what someone will pay for it..... having said that if the dealer wants your business they will work with you to make that 1k disappear... especially fi you are less choosy about colour spec etc

06-10-2008, 17:24	#6
mole Briskodian Join Date: Nov 2007 Posts: 234 Members Car: Thanks: 6 Thanked 7 Times in 7 Posts	Re: Depriciation!? yeah, skoda could make it go, but there wasnt realy a car that stood out to me tbh, so might be looking at a VW or SEAT. going round the car show rooms tomorrow to have a look, __________________

06-10-2008, 20:58	#8
Decron Eye Eye Join Date: Oct 2005 Location: Cwmbran - South Wales Posts: 3,654 Members Car: Vroomster Thanks: 73 Thanked 269 Times in 197 Posts	Re: Depriciation!? You should consider a Roomster. It will probably be ideal for your needs.

07-10-2008, 09:09	#9
Estate Man Briskodian Join Date: Jun 2008 Location: Essex Posts: 105 Members Car: Suzuki V-Strom 1000 motorcycle and Fabia 2 Estate 1.4TDI PD 80bhp Thanks: 1 Thanked 10 Times in 10 Posts	Re: Depriciation!? Mole, yes that sounds about right value wise. Remember, biggest drop in value for any car is during the first 12 months...doesn't really matter if you are keeping it over a long period. At the end of the second year you will see the price stabilise somewhat. A friend with a Merc 500CLK (£48k paid for it new 2yrs ago) has just been offered £11,900 for it on a trade in against another 50K car. Is that crazy or what! Personally, I would recommend the Fab 2 TDI Estate for your new situation, masses and masses of room everywhere...try one! But then, I'm biased as I love mine! __________________ I'm learning to be more RESPONSIBLE!...NOT!!! STARFLEET TRAINED...

07-10-2008, 09:20	#10
snownrock Woof! Join Date: Sep 2006 Location: From Leeds, Live in Swansea Posts: 852 Members Car: 2008 Fabia3 1.9Tdi Estate Images: 7 Thanks: 50 Thanked 38 Times in 38 Posts	Re: Depriciation!? This is putting me off buying new, but then who doesnt know about depriciation, but there are some cracking deals at the minute of the Fab estate and Roomster... choices choices. __________________ Mine: Brilliant Silver 08/58 Fabia3 1.9TDi Estate SWMBO's: White 00/W Fabia 1.4MPi Classic Hatch Something for the weekend: Giant XTC 4.5 Hardtail / GT LTS 4000 XC & Afan Argoed Tom, BriSkodas youngest Fabia II Estate Owner

07-10-2008, 12:52	#11
Hearny Briskodian Join Date: Dec 2007 Location: Tyneside Posts: 56 Members Car: Fabia 2 1.4tdi Thanks: 1 Thanked 3 Times in 3 Posts	Re: Depriciation!? I agree, if you bought 12 months ago (I did) you can get a much better deal now. I have to say within 6 months of buying mine, I could have got 0% finance and probally a lower purchase price. The dealers are desparate for your custom, they aint shifting many cars.

07-10-2008, 14:54	#12
Estate Man Briskodian Join Date: Jun 2008 Location: Essex Posts: 105 Members Car: Suzuki V-Strom 1000 motorcycle and Fabia 2 Estate 1.4TDI PD 80bhp Thanks: 1 Thanked 10 Times in 10 Posts	Re: Depriciation!? Unlike motorcycle dealers who are having a good time still with some increasing their business as car buyers turn more to motorcycles and scooters! __________________ I'm learning to be more RESPONSIBLE!...NOT!!! STARFLEET TRAINED...

07-10-2008, 16:03	#13
Decron Eye Eye Join Date: Oct 2005 Location: Cwmbran - South Wales Posts: 3,654 Members Car: Vroomster Thanks: 73 Thanked 269 Times in 197 Posts	Re: Depriciation!? I had a fantastic deal on mine exactly 12 months ago and despite some slightly higher than expected depreciation I am still in good shape especially as I plan to be owning the car over the next 5 years minimum. If you want to feel conned about buying a car, go and buy a new Citroen. A one year old C4 VTR+ will loose you about 45-50% when trading in.

07-10-2008, 20:24	#14
HZ123 Briskodian Join Date: Apr 2008 Posts: 142 Members Car: Thanks: 3 Thanked 5 Times in 5 Posts	Re: Depriciation!? Today, like yesterday and tomorrow is the wrong time to be selling or part exing a car. It probably is going to get a lot worse and the industry must have some real concerns.

08-10-2008, 20:57	#15
mole Briskodian Join Date: Nov 2007 Posts: 234 Members Car: Thanks: 6 Thanked 7 Times in 7 Posts	Re: Depriciation!? well ive decided to keep it for 18months ish untill near the end of my PCP, then going to buy new again in vw today he hold me that my car is losing nearly £400 a month and he advised me to come back near the end of the 3yr PCP and the chances are i'll be better off and not in negative equaty(sp) __________________

08-10-2008, 22:33	#16
daveclayton Briskodian Join Date: Apr 2008 Location: wakefield Posts: 221 Members Car: seat leon Thanks: 6 Thanked 6 Times in 6 Posts	Re: Depriciation!? part ex'd fabia 3 wwith all the gadgets is now on the seat forecourt for 9995. about 4 months old, 5000 miles __________________ CURRENT: SEAT leon sport 1.4 tsi, candy white, hids. looks better, drives better, is better than the fabia gone: fabia 'vrs' eibach pro springs lowered 40mm, vrs badges, red callipers, LED side lights, hids.

14-10-2008, 22:04	#17
Black Briskodian Join Date: Aug 2007 Posts: 43 Members Car: Thanks: 0 Thanked 2 Times in 1 Post	Re: Depriciation!? I am sorry to say but I really doubt you will be in positive equity in 18 months time. If so it is going to be marginal. Also consider the extra interest you are going to pay to the end of the deal. What is your GFV?

15-10-2008, 08:13	#19
snownrock Woof! Join Date: Sep 2006 Location: From Leeds, Live in Swansea Posts: 852 Members Car: 2008 Fabia3 1.9Tdi Estate Images: 7 Thanks: 50 Thanked 38 Times in 38 Posts	Re: Depriciation!? Boom Boom __________________ Mine: Brilliant Silver 08/58 Fabia3 1.9TDi Estate SWMBO's: White 00/W Fabia 1.4MPi Classic Hatch Something for the weekend: Giant XTC 4.5 Hardtail / GT LTS 4000 XC & Afan Argoed Tom, BriSkodas youngest Fabia II Estate Owner

15-10-2008, 08:46	#20
Tom_vRS Briskodaholic Join Date: Dec 2004 Location: Fenland, Cambridgeshire Posts: 11,784 Members Car: '97R BMW 328i Saloon Thanks: 728 Thanked 451 Times in 328 Posts	Re: Depriciation!? Depreciation sucks. Buying new cars and not keeping them for atleast 2/3 years is a guaranteed way to become very poor! There are of course exceptions such as cars with long waiting lists, but these are few and far between. I paid £9600 for a brand new Corsa CDTI SXI+ with leather and a/c in 2006. It listed at over £13k so got a good deal. It gave me backache to drive and had to part ex it just 6 weeks later, got £7700 for it. Imagine if I'd paid list! Dad likes his Citroens. He paid £13k for his Xsara back in Sept 2004. Its done 32k and hes just been offered £1800 p/x from the same dealer. Shopping around shows this really is what its worth, hence hes decided to keep it which has worked out ok for me as hes letting me use it for run around journeys leaving mine for longer runs only and "fun" duties Depreciation is a fact of life, and a bitter pill to swallow. Unless you drive an old bangor or something a bit special its the biggest cost of owning a car, completely shadowing fuel economy differences between models, road tax etc... __________________ 97/R BMW 328i in Boston Green.

15-10-2008, 10:20	#21
Estate Man Briskodian Join Date: Jun 2008 Location: Essex Posts: 105 Members Car: Suzuki V-Strom 1000 motorcycle and Fabia 2 Estate 1.4TDI PD 80bhp Thanks: 1 Thanked 10 Times in 10 Posts	Re: Depriciation!? A few years back when running our business, my wife and I used to change our vehicles every 12-18 months. The mileage on each vehicle would be average. It cost us a lot obviously...but we got good deals each year from our dealer. It was a case of give a chunk of our profit to the tax man or drive around in a new car instead (car being a business asset)...a no brainer!! We no longer have the business and we don't have that tax incentive to change each year, so we just buy a motor and run it for around 6-7 years each time. Except we now have the Fabia 2 Estate diesel 1.4, and we intend to keep that for at least 10 years...unless it turns out to be a dog! Might keep it even longer. That's why we bought a Skoda for it's build quality etc. But my point here is...we have found motoring costs are in the main very cheap if you keep a motor. Higher servicing costs as the vehicle ages still have proven less than the cost of changing a vehicle every 12-18 months. Depreciation is no longer a problem as such. Make the motor work for you! Just saying how it works for me! __________________ I'm learning to be more RESPONSIBLE!...NOT!!! STARFLEET TRAINED...

15-10-2008, 17:16	#23
HZ123 Briskodian Join Date: Apr 2008 Posts: 142 Members Car: Thanks: 3 Thanked 5 Times in 5 Posts	Re: Depriciation!? Mole ; Is that quote as safe as a bank quote. I fear neither is because your quote is against what they wish to sell you. It is all relative, the plus point is in the climate for the next 2-3 years new car values will remain dormant. Just listenning to the business news and all the gains of the week are almost gone.

15-10-2008, 20:15	#24
mole Briskodian Join Date: Nov 2007 Posts: 234 Members Car: Thanks: 6 Thanked 7 Times in 7 Posts	Re: Depriciation!? no its guaranteed, thats why its called a guaranteed future value __________________

15-10-2008, 20:17	#25
markmi Briskodian Join Date: Sep 2008 Location: ipswich Posts: 34 Members Car: fabia vrs, with full leather, cruise control, 6disc cd and fabia 3 estate with sunset glass Thanks: 3 Thanked 1 Time in 1 Post	Re: Depriciation!? do you know about the half three quarters rule on hp agreements, have a look on your agreement when you hit the point of having cleared half the value of the car you can give it back and walk away, normally works out to about 2 years into your hp/pcp agreement, look it up on the net and check your hp/pcp paperwork or even ring your hp company.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode