Colnago_Man
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| posted on 27/11/07 at 02:39 PM |
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Calculating car depreciation.
Now I appreciate car deprecitation isnt an exact science but I'am trying to work out the overall costs of buying a new car against leasing
one.
Therefore I need to how much the new car would be worth in 3 years time. Its a new Mondeo estate, which WhatCar say should be worth 40% of
its value in 3 years time. The RRP is £17,900 but what carfile.net will sell one for £14,700.
So in 3 years will it be worth £8820 (eg 40% of £14,700) or £10,740 (40% fo £17,900)?
Surely when you come to trade it in the dealer has no idea how much you paid for it initially?
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DarrenW
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| posted on 27/11/07 at 02:45 PM |
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The dealer wont care what you paid for it 3 years ago. They will simply refer to their book and make you an offer.
Mileage covered and condition has a part to play as well but you will know that.
Are you talking about the new shape one? This coming out will no doubt have dropped the residuals on the older model. As a rule of thumb take a look
at current 3 year old prices as a guide (not exactly right as they will be the forecourt prices).
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mookaloid
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| posted on 27/11/07 at 02:53 PM |
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Have a look at how much you can buy a 3 yea old one for now on a dealers forecourt and deduct about £2k
you'll not be far off.
Cheers
Mark
"That thing you're thinking - it wont be that."
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Paul TigerB6
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| posted on 27/11/07 at 04:15 PM |
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quote:
Originally posted by Colnago_Man
Now I appreciate car deprecitation isnt an exact science but I'am trying to work out the overall costs of buying a new car against leasing
one.
Therefore I need to how much the new car would be worth in 3 years time. Its a new Mondeo estate, which WhatCar say should be worth 40% of
its value in 3 years time. The RRP is £17,900 but what carfile.net will sell one for £14,700.
So in 3 years will it be worth £8820 (eg 40% of £14,700) or £10,740 (40% fo £17,900)?
Surely when you come to trade it in the dealer has no idea how much you paid for it initially?
Those figures are 60% of the original figures!! 40% of £17,900 is £6,960 so would say this is the figure you will be looking at as a trade in. Sound
around right - £9k retail for a 3-year old Mondeo assuming the £2k dealer premium quoted which sounds about right??
Paul
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