I have shockingly seen on various websites the MY03 going for under £16000!!! What is going on?? I have had mine for 6 months with 3,000 miles top of the range security system and private number plate to find out its worth this!

It can't be right

 

sorry mate thats the market, they are all loosing 3-4K in the first year. Private plate wont make a difference im afraid and the security will be expected not an option

I payed £24,500 for my STi MY03 with some extras added and got offered £20k after 5 months. Decided to keep it for a couple of years now at least.

 

If youre worried about losing money on a new car why buy a new car?

99% of cars will lose £ks as soon as you drive it off the forecourt.

 

So at this rate the car could be worth £14,000 @ a year old. I is very sad about this as I might have to consider leaving the scooby family :-(

 

yeah I know that they lose money straight away but I was anticipating a 2k drop not a 4K drop. I have seen WRX bug eyes on autotrader for 18K

 

18k is what they would like - what they get is a different ball game

 

Drive any new car off the forecourt that doesn't have a waiting list, and you'll drop 17.5% of value almost immediately. Cold hard fact of life.

Depreciation affects us all, and scoobs aren't much worse than any other brand; I can see insurance being a killer in the coming years though

 

Bottom line is if you can't afford a scoob you should have gone for something cheaper like a Yaris etc..

Did you not know about depreciation on new cars ???

 

If you payed 20K for it I would imagine it will be worth 16K after a year. Down to 14.5K after two years and say 13K after three.

The question is not what you think it should be worth its more what you would expect to pay for one secondhand.

Enjoy ya car mate and worry about what its worth later in life thats what i say



[Edited by TVR Gary - 1/13/2004 2:58:09 PM]

 

Alternatively buy something like an A8 or a big beemer then you will really know what depreciation is all about and come scampering back for a scoob again .....lol

Best thing to do is enjoy ya car NOW mate, get in it drive it and love it, thats what you bought it for. Worry about what its worth in later life when you come to sell it, but not now

[Edited by TVR Gary - 1/13/2004 3:01:00 PM]

 

"what would scooby do" - I can more than afford the car, I was just suprised at the drop thats all. I used to have a Golf TDI 150 Anniversay before and I only lost £1900 on that in a year!

TVR Gary - Your right mate I will keep car I can't think of another car I would prefer! Although a TT 3.2 quattro DSG would be nice!

 

You were unlucky to loose a penny on ya golf mate. I still see them for sale at new prices now. Well worth getting hold of one for 20 years time me thinks

 

Bitten, I bought a new Cooper S, "Bullet proof residuals" your told when your buying! still lost 2k in 6 months when I PXed it.
dave

 

I have a cooper S cabriolet on order but they cant tell me when its gonna be available yet. I dont think i will loose much on that if i only keep it 6 months and sell it privately

 

TVR Gary - I think you're being optimistic if you think a £20k Scoob will be worth £13k after 3 years. £11k is the best you're looking at. Even that's 55%, which is Merc/BMW territory.

 

Guys, check out second hand prices asked by main dealers on the Subaru website.

MY03 STi's priced above 24k second hand !!

I saw an MY99 with 48000 on the clock priced at 16995 at a local main dealer, but the book says I can expect less than 12k (private) for my MY99 with much lower mielage.

Blobster

 

Mungo ......cool name mate, shame it isnt mongo ''mongo like candy'' .... sorry just remembering blasing saddles for a mojo there.

Your probably right about the three year price though.

Not worth worrying about it I dont think. I never own anything i drive anyway, just rent it from the bank.

 

What Car has a an MY03 as being worth about £10k after 3 years (50% orginal value).

This is OK, but Audis are better and Alfa worse.

New cars are one of the easiest ways to loose money IMHO

BTW I bought a new Scoob and don't regret for a minute

[Edited by Nigel H - 1/13/2004 4:24:13 PM]

 

I'vegot my WRX on contract hire - seemed expensive per month when you first look at it, but then when you consider the depreciation its quite a good deal....I hope the prices crash 'cause then I can buy it at the end of 2 years very cheap !!!

 

TVR gary went to order one myself, the cooper s cab - its not out until a year after the normal cooper which is out in june,,,,,by that time their are lots of cabs out - new colf with coupe style roof etc !!!!


[Edited by JimmyRB5PRO - 1/13/2004 4:47:08 PM]

 

I have been quoted May / June for the mini one and Cooper Cabriolet and as yet they have not confirmed that an S will be forthcoming but the dealers think there will.
Only cost £500 a year ago to get myself to the top of the list so i will stay there for a while I think. Not gonna have a lower spec one. Besides the deposit is returable up till you spec the car one month before the delivery date.
I think it will be pretty desirable even with the dodgey pram hood

 

My UK300 with PPP, private plate, top notch security system is up in July at the end of its lease, it has been valued at 11:5K by a dealer at the weekend, it has less than 19K on the clock.. it has lost 15K in 2.5 years.. excellent value, and hey we UK300 owners have not been truly screwed have we by Subaru when they brought the STI out at a comparative price 6/7 months later..although we were being told at the time that the STI7 would start at least 30K sir..

Time to move away from scoobs i think, give some other worthy charity a chance, like Mitsibushi or Nissan (350Z hmmm) to get their hands on my hard earned cash..

Cheers

Jim

 

Just been in a dealers today and they had a sold sign on an STi8 with 3k clocked which went for £21k, an MY03 WRX with 8k for £16.5k and another for sale at £17.5k. which will go for around £16.8. But then I pursuaded him to let me have an MY04 WR Blue with extras for £18.5k and we'll make a deal on PPP based on servicing Made the 2nd hand ones look a bad bet, and I've never had a NEW car. Going back in April to finalise when I've sorted finance.

 

You dark horse Dave......

 

Moi?

 

corradoboy
where did you get such a good deal

jo

 

Being an ex owner of 2 MY03's I have some insight. The first one is that its easy to buy new at just over £18k. Without sounding high and mighty, anyone paying over £18,500 didnt do their research. Therefore if your car is worth £16k at a year old, IMHO that is damn good motoring. There are not many cars that will match it. Even at £15k its still pretty good.

Everyone buying a new car should bank on 25% loss in 12 months. What you will find is that the trade in price after 5 months will be not a lot less after 12 months.

Dealers will sell you a 3 month old Impreza for just over £17,250. They will therefore want to pay £15k for any trade in, and not a lot more.

In my time Ive bought lots of so called sought after machinery inc the over hyped Cooper S (worse car in my last 20) - lost a grand on that in three months (bought on launch day). My E46 M3 lost money even thought they were surposed to be going for a premium.

What people see cars advertised for, and what they sell for are two different things.

 

The depreciation only looks bad when compared to list prices , compare them to "realistic" UK dealer new car prices and its not that bad

realistic = STi £23,100
WRX £18,600

 

Or buy EU

Mine cost 16700 with Tracker alarm etc back last March.
That and a plate that's worth 500 on the car...

Methinks it'll still sell privately the good side of 14000

Either that or I'm screwing the market up for the rest of you (in which case I apologise...)

 

My say on this is....

all my m8s at work are constantly teasing me about the amount of money I've lost on my WRX03 (maybe its jealousy?). They say your money is better sunk into property instead of wasting it on depreciating vehicles.

My answer to them is ... everyone to their own but I think they've lost sight of the fun values in life. I want to make the most of what i got and enjoy life to the full. DON'T YOU AGREE??? Thats why we all buy scoobs, cos we know what fun is made from!
While investing in housing is a good long term investment, I can't see that they will ever want to sell their houses to use the profit to buy nice cars cos they're paranoid about loosing money. You never know whats around the next corner, so make use of it while you can.


I think I might have gone off on one... but never the less depreciation stinks and I ain't ar5ed.

FF