P1 prices
23 October 2001, 10:14 PM
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Hi
I've currently got a McRae and thinking about buying a P1. I was wondering if anyone can give me some feedback (good or bad) about the car.
Also, I am concerned about whether I should buy one now or to wait until after the STI is out in and see what effect that has. I have been offered a P1 for approx 25k, but am concerned that the bottom may fall out when the STI is launched.
I've got the dealer quite keen to take my McRae in exchange, but I'm a little weary of what the P1 will be worth come Feb when the STI is here.
Any thoughts would be welcome.
Cheers
Ash
Ash
I've currently got a McRae and thinking about buying a P1. I was wondering if anyone can give me some feedback (good or bad) about the car.
Also, I am concerned about whether I should buy one now or to wait until after the STI is out in and see what effect that has. I have been offered a P1 for approx 25k, but am concerned that the bottom may fall out when the STI is launched.
I've got the dealer quite keen to take my McRae in exchange, but I'm a little weary of what the P1 will be worth come Feb when the STI is here.
Any thoughts would be welcome.
Cheers
Ash
Ash
24 October 2001, 12:35 AM
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Mate ! Im in the same position as yourself, and to be honest i have been following the prices of P1's for just over a year now and know virtually every P1 that has been sold throughout the UK dealers. The bottom line is 'THEY ARENT MOVING' ! Everybody on this forum will agree they were initally overpriced and still are. So i guess my advice to you would be wait until the start of the new year, cause i believe the UK STI will hit the price of the P1's. Im sitting in a position to buy here but i think its best to wait and see.
Ricky !
Ricky !
24 October 2001, 05:01 AM
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Got mine 3 months ago brand new, £29,000 from a subaru dealer and thats with a trade in of an sti5 typeR at a good price. Im not overly worried about depreciation as i will not be selling for the forseeable future if at all.
24 October 2001, 08:37 AM
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Lets face it. If you are considering a UK STI7 at £29k then you are going to be in for some serious depreciation anyway!
I figure a year old UK STI wud trade around £20k..so thats £9k down the pan. Buy a P1 @ £25k and in a year you can afford for it to go as low as £16k and not be any worse off financially. The P1 meanwhile will have been more fun and is 'prettier' IMHO.
Drive both and make your decision on which car YOU prefer.
Chuck
I figure a year old UK STI wud trade around £20k..so thats £9k down the pan. Buy a P1 @ £25k and in a year you can afford for it to go as low as £16k and not be any worse off financially. The P1 meanwhile will have been more fun and is 'prettier' IMHO.
Drive both and make your decision on which car YOU prefer.
Chuck
24 October 2001, 08:43 AM
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I have just bought am picking up my 6month old p1 at the weekend.
I too have been keeping an eye on prices and maintain that whilst depreciation will be fierce in the first year it will level off when they are priced around the same money as a well specced MY01 or UK300.
They are just about getting to that level now so I thought its time to take the plunge.
I thought about waiting for the new STi but the output figures are not much better than the UK300 and I can only see it being more refined than the P1 whereas I have decided that I wanted a rawer driving experience.
At the end of the day I reckoned "you only live once and went for it". I must admit taking a test drive is fatal - the difference from an std UK turbo is amazing. Now i know what all those STi owners were harping on about for all those years.
I too have been keeping an eye on prices and maintain that whilst depreciation will be fierce in the first year it will level off when they are priced around the same money as a well specced MY01 or UK300.
They are just about getting to that level now so I thought its time to take the plunge.
I thought about waiting for the new STi but the output figures are not much better than the UK300 and I can only see it being more refined than the P1 whereas I have decided that I wanted a rawer driving experience.
At the end of the day I reckoned "you only live once and went for it". I must admit taking a test drive is fatal - the difference from an std UK turbo is amazing. Now i know what all those STi owners were harping on about for all those years.
24 October 2001, 09:57 AM
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Cheers for the messages. I know what you mean about the test drive - I'm kind of an impulsive chap and knew it would b fatal to drive that thing.
I'm gonna think it over this week and make a decision - the dealers I think are keen to shift the P1 because of the STI.
Is it realistic to say that it could drop from 25k to the early 20's when the STI comes out ?
Ash
I'm gonna think it over this week and make a decision - the dealers I think are keen to shift the P1 because of the STI.
Is it realistic to say that it could drop from 25k to the early 20's when the STI comes out ?
Ash
24 October 2001, 10:16 AM
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I have to say that chucks point of view sounds spot on to me.
The STi is also overpriced compared with an evo 7 its main competition. It will suffer much worse depreciation as it is brand new and will plummet when driven out the showroom. The P1 will have already taken that hit.
I cant see a years worth of driving causing a second hand P1 to lose another 9k, so financially it makes more sense to go that way.
Not only that, but the P1 is so much nicer than the sti 7. Faster, better looking, and so much rawer. For me there would no contest.
The STi is also overpriced compared with an evo 7 its main competition. It will suffer much worse depreciation as it is brand new and will plummet when driven out the showroom. The P1 will have already taken that hit.
I cant see a years worth of driving causing a second hand P1 to lose another 9k, so financially it makes more sense to go that way.
Not only that, but the P1 is so much nicer than the sti 7. Faster, better looking, and so much rawer. For me there would no contest.
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24 October 2001, 10:21 AM
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Adam, I agree, I can't imagine a P1 for 16k with 1 years warranty left on it - that would be a steal, I mean 16k for such a car would be top for value money.
My own personal view is that its likely to be about 20k this time next year.
Ash
My own personal view is that its likely to be about 20k this time next year.
Ash
24 October 2001, 10:24 AM
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I too had been watching P1 prices for a while. I bought a used exmaple from my local dealer. It had the full WR pack, 11 months old and 3000 miles. I got a reasonable trade in for my MY97 turbo and haggled hard for the P1. All I can say is do it! Fantastic car and as so many have said here...'Prettier', faster and rawer than the STi7. And of course only about 990 of the 1000 in existence!
24 October 2001, 10:29 AM
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Paul, if you don't mind me asking, what year P1 is it and what did you pay ? I have been offered 10k for my McRae and an extra 15k to pay. Haggled hard for a few days now, playing a number of my favourite tricks (delays, not answering calls etc),its a std P1.
Whats its like in terms of running costs - I get about 240 from a full tank on my McRae.
Also, I've managed to get a decent insurnace quote - is there any specialists who offer a good insurance deal ?
Ash
Whats its like in terms of running costs - I get about 240 from a full tank on my McRae.
Also, I've managed to get a decent insurnace quote - is there any specialists who offer a good insurance deal ?
Ash
24 October 2001, 02:46 PM
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Ash,
You have mail
Forgot to say that running costs are the same as any other UK Turbo. Including fuel consumption. All depends on how hard you drive it
I actually think that the P1 is more consistantly fuel efficient than my old MY97
[Edited by PaulMc - 10/24/2001 2:49:14 PM]
You have mail
Forgot to say that running costs are the same as any other UK Turbo. Including fuel consumption. All depends on how hard you drive it
I actually think that the P1 is more consistantly fuel efficient than my old MY97[Edited by PaulMc - 10/24/2001 2:49:14 PM]
24 October 2001, 03:08 PM
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Am I misreading the initial post or was the reference to the STI7 not a case of 'get that one' but a case of 'when it comes out the P1 price will drop so I'll get the P1 then'. 
Anyway, I've still got to sell my house so I'll be waiting till middle of next yearish anyway
Anyway, I've still got to sell my house so I'll be waiting till middle of next yearish anyway
24 October 2001, 08:20 PM
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but in february you could say " well if i wait till june the price will have dropped! "
the price of cars will drop as they get older.
just get one, the depreciation is really just the cost of enjoying yourself. the main drop has happenned and should now slow down.
mines dropped 6k in 10 months but boy has it been good!
pete
the price of cars will drop as they get older.
just get one, the depreciation is really just the cost of enjoying yourself. the main drop has happenned and should now slow down.
mines dropped 6k in 10 months but boy has it been good!
pete
26 October 2001, 03:08 PM
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Slightly off the thread but what do those who have driven both feel about comparison between Sti 5 (either 4 door or Type R) and the P1. Used to have a V4 Type R which had belonged to a mate. Top car and he is now looking for another (prolly a 5). The prices for equivalent miles are quite a bit lower than a P1 - though in theory the depreciation should no worse on a P1 its still quite a bit more to shell out up front. Is it worth it...?
<stands back and awaits the varied views!>
Cheers
David
<stands back and awaits the varied views!>
Cheers
David
26 October 2001, 03:28 PM
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Depreciation will be as a fraction of the value. Since sti 5 type rs are about half the price of P1s, depreciation will be lower.
Its a long and old debate. both cars have their merits and some prefer one to the other. Its just a case of whether those who prefer the P1 can justify the price difference to achieve their preferences.
Its a long and old debate. both cars have their merits and some prefer one to the other. Its just a case of whether those who prefer the P1 can justify the price difference to achieve their preferences.
26 October 2001, 04:08 PM
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How do STi owners fair when it comes to servicing and insurance ? From what I knew I thought Uk scooby dealers didn't have the right tools to service the imports ? Also, its bad enough getting a decent quote for std Uk cars - it must cost a fortune for an STI.
26 October 2001, 04:14 PM
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Ash,
If you worry enough to ask those sorts of questions on a grey then they are probably not the motor for you.
Anyway, all this talk of P1 prices is rubbing salt into the wound. I was looking forward to pick my new P1 up tomorrow and I've just been told by the dealer this afternoon that the car will not be ready for another week!
Nuts
If you worry enough to ask those sorts of questions on a grey then they are probably not the motor for you.
Anyway, all this talk of P1 prices is rubbing salt into the wound. I was looking forward to pick my new P1 up tomorrow and I've just been told by the dealer this afternoon that the car will not be ready for another week!
Nuts
26 October 2001, 04:17 PM
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Ash,
I'm sure that UK dealers have all the right tools for dealing with STI's, it's just that they are not allowed to deal with imports.
There is really no rocket science involved, and not a huge difference in the fettling of the cars.
If you were to get a P1, then the dealer network is probably still the one to use. My STI 5 Type R was bought new and serviced at Roger Clark Motorsport in Desford and they have been superb. To be honest, even with a P1, I'd probably not give a main dealer the satisfaction, and go to Clarks instead. After all, a stamped book is a stamped book regardless of what people might say or think. An independent would have a more reasonable hourly rate too.
All the parts used on my STI were the same as the standard UK turbo bits, i.e oil filter, air filter etc. All in stock, and never had a problem.
Backing up Adams statement too. You could get an STI 5 Type R for about 10K less than the P1. that should cover all the bits you want to do with it, and leave enough for insurance, servicing, tyres etc for a couple of years. You'll have just as much fun, and the interior is nicer too!
Matt
I'm sure that UK dealers have all the right tools for dealing with STI's, it's just that they are not allowed to deal with imports.
There is really no rocket science involved, and not a huge difference in the fettling of the cars. If you were to get a P1, then the dealer network is probably still the one to use. My STI 5 Type R was bought new and serviced at Roger Clark Motorsport in Desford and they have been superb.
To be honest, even with a P1, I'd probably not give a main dealer the satisfaction, and go to Clarks instead. After all, a stamped book is a stamped book regardless of what people might say or think. An independent would have a more reasonable hourly rate too. All the parts used on my STI were the same as the standard UK turbo bits, i.e oil filter, air filter etc. All in stock, and never had a problem.
Backing up Adams statement too. You could get an STI 5 Type R for about 10K less than the P1. that should cover all the bits you want to do with it, and leave enough for insurance, servicing, tyres etc for a couple of years. You'll have just as much fun, and the interior is nicer too!
Matt
26 October 2001, 04:22 PM
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I was only asking, not particuarly thought about buying an STI really. I too almost bought a P1 this week, but got cold feet when I heard the UK STI6 was coming out in Jan - worried about what that means for P1 prices come Feb2001. Any thoughts guys as I need to make a decision this week - to buy or not to buy ?
26 October 2001, 05:16 PM
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Just buy it u wont regret it, i bought mine 3 months ago. I shouldnt worry too much about the new sti7
26 October 2001, 05:24 PM
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I agree that you should go ahead and buy it. I bought my second-hand P1 a couple of weeks ago and have decided it was well worth the money already!
Anyway, I know it will never lose at much money as my last car. An Elise which I got brand new and it lost almost 60% of its value in under 3 years!!! When I bought it the delaer told me it would attract a premium in the future as it was a limited edition!!
Anyway, I know it will never lose at much money as my last car. An Elise which I got brand new and it lost almost 60% of its value in under 3 years!!! When I bought it the delaer told me it would attract a premium in the future as it was a limited edition!!
26 October 2001, 05:42 PM
#29
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LOL SiWhite
*Never* believe dealers
Always difficult to justify buying a brand new car IMHO. The trick is buying a particular car when the market for that is depressed (for whatever reason) and selling when it picks up.
At the end of the day though I reckon if you have a good car you'll get a good price (again IMHO) - when the wife sold her Type R in March to replace it with an 9 month old Elise Sport 160 views on here were the STI was worth around 14k (R reg, completely original with 24k on the clock & verifiable history). Sold it for the asking price of 16k to a couple who'd come all the way from Lincolnshire - they had looked at loads and were very clued up but wanted an original mint Type R and so were willing to pay top money.
The Sport 160 which was in place of an ever delayed new S2 Elise cost 22k - the first owner would have paid just over 30k for it 9 months earlier!! Elise prices were depressed because people were waiting for the S2 - shortly after she bought it there was a slight uplift as people like her were getting bored of waiting...
Moral - you'll never make money on cars - unless your Tom Hartley!
Sorry to ramble on - and thanks for the thoughts on the P1 vs Sti - I'd love a P1 to replace my high mileage UK Turbo but think that when I have the cash another Sti will be in the garage - for me this time!
Cheers
David
[Edited by David Cullen - 10/26/2001 5:43:32 PM]
*Never* believe dealers
Always difficult to justify buying a brand new car IMHO. The trick is buying a particular car when the market for that is depressed (for whatever reason) and selling when it picks up.
At the end of the day though I reckon if you have a good car you'll get a good price (again IMHO) - when the wife sold her Type R in March to replace it with an 9 month old Elise Sport 160 views on here were the STI was worth around 14k (R reg, completely original with 24k on the clock & verifiable history). Sold it for the asking price of 16k to a couple who'd come all the way from Lincolnshire - they had looked at loads and were very clued up but wanted an original mint Type R and so were willing to pay top money.
The Sport 160 which was in place of an ever delayed new S2 Elise cost 22k - the first owner would have paid just over 30k for it 9 months earlier!! Elise prices were depressed because people were waiting for the S2 - shortly after she bought it there was a slight uplift as people like her were getting bored of waiting...
Moral - you'll never make money on cars - unless your Tom Hartley!
Sorry to ramble on - and thanks for the thoughts on the P1 vs Sti - I'd love a P1 to replace my high mileage UK Turbo but think that when I have the cash another Sti will be in the garage - for me this time!
Cheers
David
[Edited by David Cullen - 10/26/2001 5:43:32 PM]
26 October 2001, 06:32 PM
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Hi guys
This is my first post so I'll try not to be a to55er. Obviously once I feel at home I'll be my usual ar3ehole self. Point is, just buy the P1 and buy it now. If you wait until feb you will have the same dilemma then and have wasted 4 months of fun. I was looking for a 2nd hand Turbo about £15k. I made the mistake of test driving a bright and shiney P1. Once I took the grin off my face (about 20 mins) I negotiated and bought a new one for £29k.
Had it since June and love it. Fine in traffic and superb everywhere else. Brakes are cr4p though. I've just had the AP 6 pots fitted. Will report when bedded in if anyone's interested.
Last thing, to the person who just swapped the Elise, how do you rate it. I'm thinking about getting one for the summer/trackdays (not instead of the P1). Any good? Worthwhile?
Oh, very last thing, I'm not saying the P1 is better than the Sti, I haven't got a clue on that score.
None Prouder
This is my first post so I'll try not to be a to55er. Obviously once I feel at home I'll be my usual ar3ehole self. Point is, just buy the P1 and buy it now. If you wait until feb you will have the same dilemma then and have wasted 4 months of fun. I was looking for a 2nd hand Turbo about £15k. I made the mistake of test driving a bright and shiney P1. Once I took the grin off my face (about 20 mins) I negotiated and bought a new one for £29k.
Had it since June and love it. Fine in traffic and superb everywhere else. Brakes are cr4p though. I've just had the AP 6 pots fitted. Will report when bedded in if anyone's interested.
Last thing, to the person who just swapped the Elise, how do you rate it. I'm thinking about getting one for the summer/trackdays (not instead of the P1). Any good? Worthwhile?
Oh, very last thing, I'm not saying the P1 is better than the Sti, I haven't got a clue on that score.
None Prouder