Depreciation Values

[Anonymous]

What a shock ! !

By chance I had to call into my local Peugeot Dealership, last weekend, to have a job done on my wifes 3008. I had to wait a while ,so I strolled amongst the second hand models to pass the time. I was stunned to see what value has been placed on a typical 2½ year old GT. With the various 'Toys', I had fitted to my car when new , it cost me approximately £28000.............................Its worth now £16955 !
So much for a car that has only done 5500 miles, and has never, I emphasise NEVER been out in the rain.
The questions now are : (1) Do I cut my losses and get rid of it, ASAP,
(2) Take it on the Chin, hang on to it and run it into the ground, OR
(3) Take it out in the rain ?
I didnt expect such a drop, as I feel we may be kidding ourselves that we own something a little exclusive.

Mal

 

[Anonymous]

Short and sweet from me really. Use it whenever you want and if your enjoying it, keep it. Too much emphasis can be put on money at times, believe me I work hard for an ok wage so I am careful, but if owning and driving the car makes you feel good then keep it for that. The excitement or buzz!

Sent from my HTC One X using Tapatalk 2

 

[RCZ1]

The facelifted model has not helped second hand prices but having said that you never get your money back on the extras you put on the car. All it does it make it more desirable to future potential buyers. Don't forget as soon as you drive a new car out of the showroom, you instantly lose the VAT value of the car. Even at the price you mention, your car is still retaining over 50% of its value, even without the added options. If you don't want to change your car then hold on to it and if it's never been driven in the wet, continue to do so. If you enjoy it, keep it

 

[Rue1]

Poor resale values are not something unique to Peugeot or the RCZ for that matter...given the state of the car market worldwide and the way manufacturers are releasing new models / cutting prices so often it is no surprise that the value of cars are dropping like stones in a very deep pond...

Case in point I currently have a 2010 Mercedes C250 CGI that is about to turn 3 has 60000km on the clock is still in great condition with a number of toys that were added at the time of purchase - set me back close to AUD $85000. Current market value is around $37000 which for a car that is supposed to hold its value really well is pretty average

My advice to you is to make the most of your RCZ, drive it as much as you can (especially in the rain, they are fun to drive in the wet) and live life...

 

[Anonymous]

My Dad just bought a Merc C250 AMG, 6 months old, 3K miles for £21K - cost £35K new... it's a fact of life unfortunately. There are ways you can mitigate it - don't buy at list price from a dealer for one - generally you can get around £4,500 off the list price of a brand new RCZ if you shop around, and if you like it and it's reliable, why cut losses only to get more losses on whatever else you buy!

 

[Anonymous]

My Dad just bought a Merc C250 AMG, 6 months old, 3K miles for £21K - cost £35K new... it's a fact of life unfortunately. There are ways you can mitigate it - don't buy at list price from a dealer for one - generally you can get around £4,500 off the list price of a brand new RCZ if you shop around, and if you like it and it's reliable, why cut losses only to get more losses on whatever else you buy!

mmmm our C63 AMG cost us £64K when we bought it in October, I shudder to think how little it's worth already - I reckon about £45K

 

[Anonymous]

A so called premier car ie bimmer merc Audi best u can hope for is to be worth 50% of its new value after 3 years so why would a Peugeot be any better sorry folks that's the joys of buying new welcome to the real world u'll lose a fortune on every make of NEW car :eusa-think:

 

[Anonymous]

Mal
I am planning to continue to enjoy my "Z" for the car that it is and not an investment that it never was. I would suggest that if you can continue to enjoy your "Z" and maintain it's condition then that is what you should do. I have suffered enough from depreciation over the recent years and so on this occasion I plan to have the benefit of my purchase and not pass it that benefit on to the next owner, only to begin the depreciation cycle again.
In short mate, you own it enjoy it until the day that you no longer want it.

 

[Rue1]

I couldn't agree more with the comments...people who live under the assumption that they will not loose or will make money on the purchase of a new car are kidding themselves unless you are lucky enough to own a rare collectible.

I have always approached the purchase of a new car with the view to enjoy it and not worry too much about the eventual cost

 

[Anonymous]

Mal
I am planning to continue to enjoy my "Z" for the car that it is and not an investment that it never was. I would suggest that if you can continue to enjoy your "Z" and maintain it's condition then that is what you should do. I have suffered enough from depreciation over the recent years and so on this occasion I plan to have the benefit of my purchase and not pass it that benefit on to the next owner, only to begin the depreciation cycle again.
In short mate, you own it enjoy it until the day that you no longer want it.

Hi Ron,

I wasnt making the comment that an 'investment' had gone pear shaped......................but that it is evident that the RCZ seems to have dropped further than was expected in value.
Only a fool would purchase a mass produced item as an investment package! ! !

Mal

 

[Anonymous]

Mal. I realise that you hadn't considered the RCZ as an investment, Good God man, I give you much more credit than that. :thumbup:

And Snowy for me the downside to lease is being stuck with a bad decision for three years :crazy:

 

[Anonymous]

After 2.5 years my RCZ is going back to PSA Finance - £2k in negative equity, thankfully they will be taking the hit and not me.

Sad fact is, those of us who bought 'launch' cars were always going to get screwed. I remember back in the early days of these forums I was one of the lucky ones.. I managed to wangle a whole £400 discount on my car! Peugeot dealers are now giving £3,000 straight off list price simply for walking in the door, and the residuals have accordingly nose dived.

Enjoyed the car immensely, but now very much looking forward to my C-class coupe!

 

[RCZ1]

After 2.5 years my RCZ is going back to PSA Finance - £2k in negative equity, thankfully they will be taking the hit and not me.

Sad fact is, those of us who bought 'launch' cars were always going to get screwed. I remember back in the early days of these forums I was one of the lucky ones.. I managed to wangle a whole £400 discount on my car! Peugeot dealers are now giving £3,000 straight off list price simply for walking in the door, and the residuals have accordingly nose dived.

Enjoyed the car immensely, but now very much looking forward to my C-class coupe!

I don't understand how it is £2k in negative equity. My car is the same age as yours and just got a really good value on it for another RCZ. I don't know how these finance things work so excuse my ignorance.

 

[RCZ-Performance]

I have not lost any value in my RCZ because it still puts a huge smile on my face. I didn't buy the car expecting it to be worth the same at a later date, even a minute of driving it of the dealership lot it dropped in value. I guess I am the exception in that I buy cars out of passion of driving them and not as an investment. I like new cars rather than used any ways. Just my input on this 'nothing new' thread about how cars lose their value, cars are not an investment unless you are a collector.

 

[Anonymous]

I guess he thought the rcz secondhand residuals would be better even though its the flagship model it doesn't hold its price better than any other Peugeot

 

[Anonymous]

After 2.5 years my RCZ is going back to PSA Finance - £2k in negative equity, thankfully they will be taking the hit and not me.

Sad fact is, those of us who bought 'launch' cars were always going to get screwed. I remember back in the early days of these forums I was one of the lucky ones.. I managed to wangle a whole £400 discount on my car! Peugeot dealers are now giving £3,000 straight off list price simply for walking in the door, and the residuals have accordingly nose dived.

Enjoyed the car immensely, but now very much looking forward to my C-class coupe!

I don't understand how it is £2k in negative equity. My car is the same age as yours and just got a really good value on it for another RCZ. I don't know how these finance things work so excuse my ignorance.

I took mine out on leasehire - the car is basically worth £2k less on a trade-in than the balance of the loan. If you trade in against another Pug you'll get a slightly better price because they can just stick it on their own forecourt and sell it - they also have a rather large mark-up on most models which they can use to offset against giving you an inflated trade-in value.

 

[Anonymous]

After 2.5 years my RCZ is going back to PSA Finance - £2k in negative equity, thankfully they will be taking the hit and not me.

Sad fact is, those of us who bought 'launch' cars were always going to get screwed. I remember back in the early days of these forums I was one of the lucky ones.. I managed to wangle a whole £400 discount on my car! Peugeot dealers are now giving £3,000 straight off list price simply for walking in the door, and the residuals have accordingly nose dived.

Enjoyed the car immensely, but now very much looking forward to my C-class coupe!

When I bought mine 2 years ago, the difference in price between my local dealer ( Swansea) and the one I actually bought the car from, not local, was around £2000, car was same model (156 GT) , same spec, but even had a "few extras" thrown in. Sometimes it's worth travelling to find a better deal , you can still use your local dealer for the "after sales stuff" :thumbup:

 

[Anonymous]

Thats why leasing is such a good deal, you are basically paying off the depreciation, then hand the car back.No need too worry about dropping prices etc.
I have just sold mine and was quite happy with what i got.
Interesting fact when i was i trying to offload to a couple of dealers first question they asked was its not white is it? Other colours are becoming rare and dealers want to vary their stock.

 

[Anonymous]

I am now feeling that I should move on from the 'Z', and as a consequence I have been looking around the Dealerships; as expected, they really dont want to consider Part Ex; and are offering ridiculous values, to take the car off your hands. On the strength of this, I think I will try to sell on privately ! has any one got any idea what a 2010 GT in Opalescent White, (Only 4880miles on the clock, ) is worth ?. I know what the various publications are showing; but a deal is always a compromise. Hell, Im sad ! !

Mal.

 

[RCZ1]

I am now feeling that I should move on from the 'Z', and as a consequence I have been looking around the Dealerships; as expected, they really dont want to consider Part Ex; and are offering ridiculous values, to take the car off your hands. On the strength of this, I think I will try to sell on privately ! has any one got any idea what a 2010 GT in Opalescent White, (Only 4880miles on the clock, ) is worth ?. I know what the various publications are showing; but a deal is always a compromise. Hell, Im sad ! !

Mal.

Only going by the What Car app, it shows a private sale figure of £14525 for that model with that kind of mileage.