ollyshorey

I am just about to order a new MY01.

It has been a very hard decision, but I am gonna do it. However I still have doubts in my mind.

One thing that I dont know is the residual value of a new model after 3 years.

I know that the old model is about 60% meaning that if the new price was £21500, second hand after 3 years it will be £12900.

Any ideas??

Also I am gonna import, so I guess it will also reflect in the residual.

I spoke to a guy in Lancaster Pangbourn the other day, and he told me they do not Part X imports, and used that excuse to pursuade me (or try anyway) to buy one from him.

Olly

It looks like the residuals for the MY2001 will never be as good as the old model.

Obviously the second hand market is controlled by demand and supply. Most Impreza enthusiasts remember the days when it was not uncommom for waiting lists of 6 months or more being quoted for new cars, which sent demand for good used cars through the roof. My first Impreza (an early MY95) lost very little money in 2 years of motoring, and I eventually sold it in 1999 for £13200, A new 4 door in 1995 cost £17999, representing a residual value of only 27% in 4 years: an unbelievable figure.

You can read for yourself on the BBS that the new car seems to be nowhere near as popular as the old shape, and obviously if demand is poor, this may have a worrying effect on the residuals.

Still, you are (or you should be) paying 20% less than UK list, which takes a lump off depreciation, although it is a fact that most Subaru dealers will not take an import in PX, and your car will have to command a lower figure in the classified ads compared to UK supplied cars to make it more attractive at resale time.

Put it this way: you are saving 20% by importing, around 4 grand. If you come to sell in 2 years, and advertise the car for 20% less than book (say £8000 rather than £10000)for a UK supplied car, you are still saving money. Now that the UK and Dutch cars are identical in actual specification (save for locking wheelnuts and one letter in the chassis number), two identical cars together but with a two grand price difference should make your car more attractive. Fair enough, your car would be out of warranty, but 2 grand buys a prospective buyer a lot of warranty (or repairs).

In any case, the residuals should be as good as anything costing £20000. It is still early days, and I think there will come a time when the MY2001 makes the Mk1 look very old and dated, a bit like when the Mk2 Golf GTi replaced the Mk1. The comparisons are very similar: the MY2001 is not quite as raw and hard-edged as the MY2000, but is far more refined, better in lots of areas and IMHO just as capable as a driver's car.

Tell me to bugger off if you want, but how much are you paying?

Ian E

iTrader: (1)

I guess if you import then the residual value after three years will be slightly lower than that for a UK dealer supplied car - but you'll still have saved overall.

The value of a one year old EU import would be substantially less than the equivalent UK car as EU imports only come with a one year Subaru warranty.

Dealers are bound to try and put you off imports but don't take any notice. Very few were buying used UK supplied cars when I tried to sell mine a year ago - and the situation is considerably worse now.

If you're importing I can recommend Gertjan v.d. Velde (Holland) as a top bloke to deal with.

Cheers,

Ian.

ollyshorey

Olly,

Heres the quote I got :

Dear Mr Shorley,

Below is the e-mail that I have just received from the product team.
I hope that it is of some help.
If you have any further queries please do not hesitate to contact us.

Kindest Regards

Senita Vohra
For and on behalf of Grey UK
Tel - 0115 9247133
Fax - 0115 9247139
E-mail - senita@greyuk.co.uk <mailto:senita@greyuk.co.uk>

-----Original Message-----
From: Laura Blasco
Sent: Friday, February 23, 2001 04:54
To: Senita Vohra
Subject: Subaru Impreza saloon 2.0 4 dr WRX

Senita, this would be the quote for the SUBARU IMPREZA SALOON 4DR 2.0
WRX
I just called the dealership and they told me that the price includes
Backed rally type front seats and spoiler. The car is full UK spec.

Base Price in Bfr: 863000
Base price in ?: ?21393
Exchange rate of today from ? to £: 1.58
Base price in £: £13540

Base price in £ + VAT(17.5%): £15910
Management Service fee: £352.50
Delivery: £470
Warranty 3 years: £400
Road tax: 155

Total price on the road: £17287

Our price, including everything is exactly £356 less than the quote from
Alliance.

I hope this helps!

Laura Blasco
Product Co-ordinator
For and on behalf of Grey UK
Tel: +44 1159 247133
Fax: +44 1159 247139
E-mail: laura@greyuk.co.uk

Olly

Ian: I have now bought 2 Subaru's from Gertjan v.d. Velde. A great guy.

Olly: price looks good. If this includes metallic, the prices are almost identical to those from Gertjan, if not Gertjan is a little bit cheaper.

Gertjan does come very highly recommended from myself and many others who post on the BBS. If you fancy a quote, his number is 0031 186 661556. Tell him Mickey Mouse sent you: (bit of a private joke with his secretary but he will know exactly what you mean!). Plus, dealing direct means that you are paying no agency fees.

Obviously I am taking nothing away from the company who provided your quote: I am sure they are very reputable and well worth dealing with.

And anyway, thanks to exchage rates and a recent price reduction in Holland, I paid a fair bit more than that. Bugger!

Chins

When you guys that are importing say you save just over £4,000, you assume that people are paying list for MY01. They are not. Some deals for UK cars are just over 20k. Looks more like £2000. Add in your residuals that are lower than offical UK cars and theres no major saving that I can see. Also add in no waiting list and is it worth it ?

Jonathan

Ian E

iTrader: (1)

Must agree with Johnathan in that the savings now are not that great. At the time when I imported my MY2000 I saved nearly £6000 and there was no discount on UK supplied cars.

If you are importing I'd be tempted to order direct with a dealer and collect the car yourself. This way you maximise the savings made.

By the way Gertjans website is

Steve vRS

Residuals are totally unpredictable.

I bought a brand spanker Puma in 1998. I waited nearly 5 months for delivery and at the time used ones up to a year old were selling for more than new.

This was one of the reassons I bought it new as I hoped my depreciation wouldn't be too hard.

Unfortunatly, it's now the importers favorite parallel import and the residuals reflect this.

I too however am looking at buying an imported MY01. I'm expecting to pay around £18 000 delivered and registered, which includes a 3 year 60k warrenty.

I would love to buy from a dealer, but couldn't aford it. I am planning to keep the car for a long time so residual values between UK supplied and import should level out.

Steve

Fizz

iTrader: (1)

Dunno about not saving money... I'm saving 5K on a MY01 from Belgium

Chins

Fizz

Your buying at £15k ?. Inc full 3 year warranty and Cat One alarm. Tell everyone the deal. If you can buy one for that it is worth it.


For people that are worried about residuals, why not just buy through a PCP scheme.

example : Tins web site - rough figures

Car : 20660 (nearly 4% of list)
Deposit 2000

Monthly 399 x 24

Residual £12,900

If the cars worth less than that its their problem.

This is straight of the internet. You can do a lot better.

Jonathan

SuperGlue

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>Originally posted by Chins:
<B>When you guys that are importing say you save just over £4,000, you assume that people are paying list for MY01. They are not. Some deals for UK cars are just over 20k. Looks more like £2000. Add in your residuals that are lower than offical UK cars and theres no major saving that I can see. Also add in no waiting list and is it worth it ?


Jonathan [/quote]


That's interesting is this the case with all dealers or only selected few ??

Terry

Chins

Terry

Discounts should be available from dealers. They have to compete with internet discounts

Tins - all cars are UK sourced, and I think Drive the deal are already offering 4% near as damn it. That without haggling.

Dont expect to get anything of the special though.

Jonathan

SuperGlue

Thanks M8
Looks like you go through cars like I do
What's the shortest time you had one ?

Olly

Chins

You do have a point. I mulled over things for a while after I collected my car.

I was in the fortunate position to choose between buying either an import or a UK car for cash with no finance involved. I know my local friendly dealers (Monks Heath Motors) very well, and probably could have negotiated a discount, denting the saving even more. I chose the import for these reasons:

1: Once all costs are considered and missing items added (alarm etc), I paid a couple of quid over £18000 for my car all in, a difference of around £3000 from a generous discounted figure of £21000 for a UK car. I considered that, although my car will be worth less at resale time, the difference between the resale value of a UK compared to an import should not remain at £3000 when I eventually sell.

2: Even if the prices and specifications were identical, I would still rather buy a new car from Gertjan than my local dealer, some 2 miles down the road (Sorry boys, I know you read this). Unlike most new car dealers in the UK (MHM excepted), where the sales team consists of monkeys in suits, who won't give you a test drive, talk absolute crap and never return your phone calls, Gertjan is the most professional, effecient and downright nicest guy I have ever had the pleasure to do business with. The sort of efficiency that has you feeding in a fax to him while his return fax is already reeling out of the machine.

3. Some may see it as added hassle. It is, no doubt about it. However, I enjoy a project, a challenge even. It does give you a feeling of beating the system.

4. A mate of mine and I collected my car. Spent the weekend in Holland and got ratted. Enjoyed the weekend, break from work, chatted up beer, drank women, stocked up with cheap Leffe Blond and spirits, ran the car in on the way home. Good excuse for a break.

5. The 3 grand left in the bank was put to good use, and will eventually yield a very nice return on my investment. More saving.

6. Everyone harps on about warranties. The second 2 years warranty on a Scoob is dealer backed anyway, and a virtually identical policy can be bought for around £450 from a reputable company. I reckon that a 1 year old import with 2 years warranty would be worth £450 more in the classifieds than one without.

This is my second import. I had no choice on my MY2000: it was the difference between being able to afford a new Subaru, or not being able to afford a new Subaru. This time I had the choice. Add to the fact that I sold my MY2000 after 5 months due to a property purchace, and made a tidy profit, I am up anyway. And yes, I have told the taxman!

There is a definite benefit for someone in my circumstances, although of course for some the benefits would not be worth the effort or hassle.

Although I am not familiar with them, PCP schemes have a tie-in period. If I keep my car for over a year I am doing well.

Maybe when I a a millionaire I will not bother!

PS My best mate is a chartered accountant. He is a boring git when it comes to cash as well.

Chins

Terry

Not sure I should admit to how many cars Ive had recently, but I think it 16 in the last three years - wife included.

If the limited turns up in May it would be my 6th Scooby in 3 years.

Shortest period of ownership 2 hours. Rejected the car and got my money back.


Olly

You can pick up UK cars for £20k near as damn it. So its £2k saving.

With regards to a PCP they dont have a lock in - well good ones dont. Most will front load the interest payments though. 4/5 year balance payements is a better way.

I understand you enjoying a project and can see the logic, however for me I do see a value in my local dealer.

I can get the cars straight away. Ive had a Terzo, RB5, MY00 DBM (when popular and with a long waiting list) and a P1. It was only the P1 that I waited over a month for. When I order a car, I want it now. Not in six months.

My local dealer will also let me borrow a car for as long as I want to try it out. Kind of feel bad to then go to someone that cant offer me these types of sevices to save a few quid.


Most people pay a sizeable deposit on an import. You can also say its better in my bank than theirs and maybe safer. UK dealers only ask for £200 if that. Some will ask for more and get it - that down to you relationship with the dealer.

I'd also say that at the end of it and bearing in mind 8-9 months is a long time in car ownership for me, i want to flog the car without hastle. Most dealers wont touch them, so you are left with a private sell. Did that with my STI V. Hard work and lots of stress - and I'm a salesman by profession.

Jonathan

who is looking at a grey STI.

[This message has been edited by Chins (edited 28 February 2001).]

Stevie

I think we all can see an initial saving by importing but I could not do it on a car I want to use every day for work. If it breaks, I drive in to the friendly people at Listers, say look at this, they give me a car and I drive away waiting for mine to be fixed.
I have a UK car on a 3 year deal that can easily be swapped to an STi when they are officially availble.
As imports become more popular and residuals in general go into freefall I think anyone keeping a car for only a couple of years will be stung on resale.
Not sure the saving will have been so good then.
I could be totally wrong though, although I dont care because I pick mine up in 10 hours!!!

Mr Grim Reaper

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>Originally posted by Stevie:
<B>As imports become more popular and residuals in general go into freefall I think anyone keeping a car for only a couple of years will be stung on resale.
Not sure the saving will have been so good then.[/quote]

Hasn't this already happened? I thought that imports are now "officially" a popular choice, something like 25-30% of cars registered last year? Residuals going into freefall? Gone I would say and gathering momentum.

MGR

Jon Jonzz

As Jonathan says, if you are worried about residuals, go for a PCP deal - or Contact Hire (for business users).

My Audi S3 has a 60% residual (over 36 months) - and that was before the price reduction.

CLS

damn why did I go for an import.......well I saved £6,500 on my MY00 including 3 years green flag recovery cover and delivery to my door with 12 months tax and painted sideskirts. At the time for similar money I was looking at a 3 year old car instead. With no warranty at all.
If I hadn't messed about worrying whether to import a car I'd have saved another £500

spudgun

CHINS
you are a star! i made my girlfriend read your comments about how many cars youve owned in 3 years. she now thinks i'm an angel in comparison
i've only had 6 cars in 18 months!