Thats the last time I'll shell out 25K for a car!!!
03 February 2003, 11:02 PM
#1
Scooby Newbie
Thread Starter
Join Date: Jan 2003
Posts: 7
Likes: 0
Received 0 Likes
on
0 Posts
I don't care how fast, reliable and fun a Scooby or any car is, who the hell can afford to drop 60% value in less than 4 years?
Seriously whats the point in buying new nowadays?
The next car is going to be 'sensible' 2nd hand job and driven into the ground.
I've even cancelled my Evo subsciption so I don't get tempted and start the 'If only - well maybe - Hmmmm yeah - Hell I'll be stupid NOT to buy it!' thought process.
Someone should start a performance car timeshare, minimum fee for 1 months ownership of decent cars.
A sad end to 3 years of otherwise fun and hassle-free Scooby ownership.
Bonefish
Seriously whats the point in buying new nowadays?
The next car is going to be 'sensible' 2nd hand job and driven into the ground.
I've even cancelled my Evo subsciption so I don't get tempted and start the 'If only - well maybe - Hmmmm yeah - Hell I'll be stupid NOT to buy it!' thought process.
Someone should start a performance car timeshare, minimum fee for 1 months ownership of decent cars.
A sad end to 3 years of otherwise fun and hassle-free Scooby ownership.
Bonefish
04 February 2003, 06:28 AM
#3
Scooby Senior
everyone knows you don't buy new.
only ppl who have new are the Jones and Company car owners
lol
or them that like to loose 33k in the first year.
I feel for all those who bought STi7 at ££££££ and only got ££££ Px on a STi8
Phil
only ppl who have new are the Jones and Company car owners
lolor them that like to loose 33k in the first year.
I feel for all those who bought STi7 at ££££££ and only got ££££ Px on a STi8
Phil
04 February 2003, 07:12 AM
#5
Scooby Regular
Join Date: Dec 2002
Posts: 156
Likes: 0
Received 0 Likes
on
0 Posts
Arter what subaru have done to all the STI7 onwers i`m no sure if i would buy another subaru.ford did it with the RS cars and look what it did for that brand.I know buying a new car is not all ways agood thing but some people just once would like to buy a brand new car.I`ve done it now and payed the price so never again,that subaru loss!!
04 February 2003, 07:15 AM
#6
Phil
You say you feel for all those who bought STi7 at ££££££ and only got ££££ Px on a STi8.
Why would an STI7 owner want to Px for an STI8 - from what allo the reviews say, there is very little difference between the two cars.
I have an STI7, and there's no way in the world that I would even think about trading it in for tne new model.
Anyway, those STI7 or any others wanting an STI8 should really think about waiting to see whats round the corner, especially since seeing what the yanks got. I believe that it's only a matter of time before something similar makes it way to the UK - and I'm not just talking about the 2.5 engine, more so the DCCD.
Just my thoughs, thats all.
Shaun
(A happy STI7 owner - or nearly happy if only I coudl get my ******* suspension knocking noise cured)
You say you feel for all those who bought STi7 at ££££££ and only got ££££ Px on a STi8.
Why would an STI7 owner want to Px for an STI8 - from what allo the reviews say, there is very little difference between the two cars.
I have an STI7, and there's no way in the world that I would even think about trading it in for tne new model.
Anyway, those STI7 or any others wanting an STI8 should really think about waiting to see whats round the corner, especially since seeing what the yanks got. I believe that it's only a matter of time before something similar makes it way to the UK - and I'm not just talking about the 2.5 engine, more so the DCCD.
Just my thoughs, thats all.
Shaun
(A happy STI7 owner - or nearly happy if only I coudl get my ******* suspension knocking noise cured)
04 February 2003, 07:24 AM
#7
Scooby Regular
Join Date: Aug 1999
Posts: 152
Likes: 0
Received 0 Likes
on
0 Posts
Who buys a car as an investment? Buying and owning a high performance car is more of an emotional thing. Anyway losing 60% over 4 years is nothing compared to losing 60% in 12 months if you had invested in the stock market this time last year.
Trending Topics
04 February 2003, 07:35 AM
#8
we bought a ford fiesta zetec S with all extras which would have retailed @ £12k last jan brand new but it cost us £8500 cos my bruv is a FMC employee
we were looking at trading it in for the scoob that we now have and offers were around £7k for a 4 month old car, even ford wouldnt offer us more then £7k
Its disgusting that we get ripped off like this in this country. import the sti 03 for around £16.5k and u've bought it at the depreciated value in a years time
We only bought it new cos of the massive discount.
the only time its worth buying new is when the dealers are trying to get rid of their pre registered cars because they are desperate. this is when u have them by the *****, u can strike up a massive bargain if u have the audacity to.
we were looking at trading it in for the scoob that we now have and offers were around £7k for a 4 month old car, even ford wouldnt offer us more then £7k
Its disgusting that we get ripped off like this in this country. import the sti 03 for around £16.5k and u've bought it at the depreciated value in a years time
We only bought it new cos of the massive discount.
the only time its worth buying new is when the dealers are trying to get rid of their pre registered cars because they are desperate. this is when u have them by the *****, u can strike up a massive bargain if u have the audacity to.
04 February 2003, 08:13 AM
#10
Scooby Regular
Join Date: Sep 2001
Posts: 976
Likes: 0
Received 0 Likes
on
0 Posts
Didn't you go into it with your eyes open?
There are lots of depreciation figures around and they all say the same thing.
Fantastic car, but at a price.
There had to be a catch somewhere and this is it.
The reason is that a new, or nearly new Subaru is within most peoples reach so why compromise with an old one?
Where as if you hanker after something with a higher cost of entry, like an M3, you're forced into the second hand market there for pushing up the residual value of the car.
So take out another subscription but this time make it something like Autocar and spend lots more money!
r
There are lots of depreciation figures around and they all say the same thing.
Fantastic car, but at a price.
There had to be a catch somewhere and this is it.
The reason is that a new, or nearly new Subaru is within most peoples reach so why compromise with an old one?
Where as if you hanker after something with a higher cost of entry, like an M3, you're forced into the second hand market there for pushing up the residual value of the car.
So take out another subscription but this time make it something like Autocar and spend lots more money!
r
04 February 2003, 08:36 AM
#11
Scooby Regular
Join Date: Sep 2000
Location: London
Posts: 7,039
Likes: 0
Received 0 Likes
on
0 Posts
Like people have said,
you don't buy a car for an investment (well some do but that is usually at the other end of the market) and presumably you entered into it with your eyes open?
Did you not enjoy owning and driving it? (as that is supposed to be the point!). The only way to minimise your losses on a new car is to import (like Chiark) said. I saved £8000 off the price off my 1st scoob and sold it 18 months later for only £1000 less than the UK equivalent.....
Matt
P.S. STi 7 owner - loving it and keeping it and not interested in the slower STi 8....
you don't buy a car for an investment (well some do but that is usually at the other end of the market
) and presumably you entered into it with your eyes open?Did you not enjoy owning and driving it? (as that is supposed to be the point!). The only way to minimise your losses on a new car is to import (like Chiark) said. I saved £8000 off the price off my 1st scoob and sold it 18 months later for only £1000 less than the UK equivalent.....
Matt
P.S. STi 7 owner - loving it and keeping it and not interested in the slower STi 8....
04 February 2003, 09:15 AM
#12
Scooby Regular
Join Date: Jan 2003
Posts: 64
Likes: 0
Received 0 Likes
on
0 Posts
Remember the 17.5% VAT, don't expect to get that back do U? (be great if you could)
I tend to buy new and keep it for 2.5 to 3 years, this means the dealers still give a good deal on the trade in. Also means I can take it back to the dealer and say "fix it and I'll have a loan car for the duration pse".
On the second hand side I know someone who paid £42k for his 993 and now would be lucky to get £27; just two years on. Not only scoobies that are going down in value.
good luck.
I tend to buy new and keep it for 2.5 to 3 years, this means the dealers still give a good deal on the trade in. Also means I can take it back to the dealer and say "fix it and I'll have a loan car for the duration pse".
On the second hand side I know someone who paid £42k for his 993 and now would be lucky to get £27; just two years on. Not only scoobies that are going down in value.
good luck.
04 February 2003, 10:48 AM
#13
Scooby Regular
iTrader: (1)
Join Date: Jul 2002
Location: Suffolk
Posts: 503
Likes: 0
Received 0 Likes
on
0 Posts
Keep the car for longer ? There's nothing to be ashamed of, owning a 3yr+ old car.
If you like it, then fixing any bits that go wrong will still be cheaper than buying new.
Even if you needed a new engine and gearbox, this would be cheaper than the depreciation hit you'd take in the first year on a new one.
If you like it, then fixing any bits that go wrong will still be cheaper than buying new.
Even if you needed a new engine and gearbox, this would be cheaper than the depreciation hit you'd take in the first year on a new one.
04 February 2003, 12:35 PM
#15
Scooby Regular
Join Date: May 2001
Posts: 1,247
Likes: 0
Received 0 Likes
on
0 Posts
Surely everyone knows you drop a absolute shedload on most new cars as soon as you drive them out of the showroom.
If you can't take the hit then the simple answer is don't buy a new car????
If you can't take the hit then the simple answer is don't buy a new car????
04 February 2003, 12:54 PM
#16
Scooby Senior
iTrader: (8)
Join Date: Sep 2002
Location: www.m-soc.com
Posts: 3,684
Likes: 0
Received 0 Likes
on
0 Posts
only ppl who have new are the Jones and Company car owners
I am buying a new one as I have no mortage or outgoings with kids etc
And lets face it those with Mortgages are loosing a lot more money in ineterest payments than I am on a new car
We don't consider house buying a rip off do we ? and it is in this country
04 February 2003, 12:59 PM
#17
It's not just a Subaru thing either. Most cars lose 50% after 3 years.
Don't forget either that you have the bonus of knowing that your 4 year old car has only been owned by you. Sure, you could have bought 2nd hand and saved, but then there's the worry of not knowing what the cars been through. Also, driving that brand new motor out of the showroom, with brand new plates, that must be worth something.
If I could afford it, I'd prob do it.
Don't forget either that you have the bonus of knowing that your 4 year old car has only been owned by you. Sure, you could have bought 2nd hand and saved, but then there's the worry of not knowing what the cars been through. Also, driving that brand new motor out of the showroom, with brand new plates, that must be worth something.
If I could afford it, I'd prob do it.
04 February 2003, 01:04 PM
#18
Scooby Regular
Join Date: Apr 1999
Posts: 643
Likes: 0
Received 0 Likes
on
0 Posts
BlueBlood,
Don't know where you get the notion that you lose the VAT ?
The fact that VAT was paid by the first owner is irrelevant. The value of used cars is pure supply and demand. End of story.
P.S I have read elsewhere that the 993 is one of the few cars that has maintained it's value and even seen some rises over the past year - assuming mileage stays under control and condition stays A1 etc....
JMHO
Don't know where you get the notion that you lose the VAT ?
The fact that VAT was paid by the first owner is irrelevant. The value of used cars is pure supply and demand. End of story.
P.S I have read elsewhere that the 993 is one of the few cars that has maintained it's value and even seen some rises over the past year - assuming mileage stays under control and condition stays A1 etc....
JMHO
04 February 2003, 01:18 PM
#19
Scooby Regular
Join Date: Dec 2002
Posts: 566
Likes: 0
Received 0 Likes
on
0 Posts
I've always avoided buying new, I drive a Jaguar XJR which I paid 20K for when it was 2.5 years old. It cost 55K new and I have extended the manufactors warr. for another 2 years for 1.2K so I have full cover.
Why buy new!!!!!
Dom.
Why buy new!!!!!
Dom.
04 February 2003, 01:22 PM
#20
Scooby Regular
Join Date: Jan 2003
Posts: 55
Likes: 0
Received 0 Likes
on
0 Posts
My neighbour showed me his brand new Mondeo yesterday and he's happy as a pig in crap. I didn't like to mention the depreciation thingy....
Only way it makes sense is if you can write it off your tax bill. Even then you have to be careful when you sell it or they'll want some back.
My Forester turbo is 2 years old, clean, fsh, lowish miles and I paid less than half what it cost new. I'm happy.
Only way it makes sense is if you can write it off your tax bill. Even then you have to be careful when you sell it or they'll want some back.
My Forester turbo is 2 years old, clean, fsh, lowish miles and I paid less than half what it cost new. I'm happy.
04 February 2003, 02:55 PM
#21
Scooby Newbie
Thread Starter
Join Date: Jan 2003
Posts: 7
Likes: 0
Received 0 Likes
on
0 Posts
I guess I was kidding myself when I bought it in the heady days when Scoobies had residual value
However you still expect your treasured pride and joy to have some value after 3 years..don't you?
Unfortunately I have to sell it. Still someone is going to get a bargain.
sob,sob ....We had joy we had fun, we had seasons in the sun..
All together now!
Bonefish
However you still expect your treasured pride and joy to have some value after 3 years..don't you?
Unfortunately I have to sell it. Still someone is going to get a bargain.
sob,sob ....We had joy we had fun, we had seasons in the sun..
All together now!
Bonefish
04 February 2003, 02:59 PM
#22
Scooby Regular
That's why i only buy 8+ year old cars....
If anyone wants a bargain, contact me. Any car, any prce range, any spec. It just has to be more 8 years old.
If anyone wants a bargain, contact me. Any car, any prce range, any spec. It just has to be more 8 years old.
04 February 2003, 03:51 PM
#23
Scooby Regular
Join Date: Dec 2002
Posts: 566
Likes: 0
Received 0 Likes
on
0 Posts
I got to admit the reason behind buying my 1995 RA is that it will hopefully not lose to much money over the next 12 months! I so nearly brought a STI6 type R, but I just imagined how much I would lose!
Dom.
Dom.
04 February 2003, 04:08 PM
#24
Scooby Regular
Join Date: May 2002
Posts: 197
Likes: 0
Received 0 Likes
on
0 Posts
The alternative is don't buy new, contract hire instead. They you know exactly how much running the car will cost. If residuals collapse, you get the chance to buy the car at the end of the contract at collapsed price, or get another new one.
Colin.
Colin.
04 February 2003, 08:04 PM
#26
Scooby Regular
Join Date: Aug 2002
Posts: 370
Likes: 0
Received 0 Likes
on
0 Posts
simple rule here - buy new if you want the privelige of being the new owner, (if you can afford it), knowing all the history of your car etc, BUT expect to loose some money whilst enjoying the privelige!
I dont see how anyone doesnt expect to loose money on any car - new or used - just depends on how much you can afford to/want to loose really.
with regards to the prevoius thread about houses/mortgages - the difference wiht a mortgage and a car loan is that houses generally go up in value, over a long term - cars nearly always go down.
my cars have lost me 13grand over the last 6 years, my house has increased over 100grand in the same time.
I dont see how anyone doesnt expect to loose money on any car - new or used - just depends on how much you can afford to/want to loose really.
with regards to the prevoius thread about houses/mortgages - the difference wiht a mortgage and a car loan is that houses generally go up in value, over a long term - cars nearly always go down.
my cars have lost me 13grand over the last 6 years, my house has increased over 100grand in the same time.
04 February 2003, 09:09 PM
#27
Scooby Newbie
Thread Starter
Join Date: Jan 2003
Posts: 7
Likes: 0
Received 0 Likes
on
0 Posts
Elgar, I still don't understand the appeal of contract hire. Aren't you effectively buying the car over 3 years and then get an option to buy the car at the end of that term? Seems so expensive £500+ a month etc.
Bonefish
Bonefish
04 February 2003, 10:15 PM
#28
Scooby Regular
Join Date: Aug 2002
Posts: 443
Likes: 0
Received 0 Likes
on
0 Posts
EU is the way to go despite the so called horror stories. I bought a new MY00 and for reasons too complex to go into here sold after 12 months.
The car needed 2 new tyres and its 12 month service. I was gutted to see it go at £14000 but only lost £1200 which is the cheapest car I have ever owned bar none.
MY05 Here I come....maybe by then I'll be able to pay the same in the UK
The car needed 2 new tyres and its 12 month service. I was gutted to see it go at £14000 but only lost £1200 which is the cheapest car I have ever owned bar none.
MY05 Here I come
....maybe by then I'll be able to pay the same in the UK
04 February 2003, 10:29 PM
#29
Scooby Senior
did you read the artical in the Mail on Sunday the other week about £76k BMW 740's after 12months being offered £45k PX etc
thats a lot of money to loooooooossssseeeee.
House's!?
I hould a Studio Appartment in Nottm.. just coming up to 2.5 years ago...paid £13,400!!! yes just over £13k
had it valued last November £35k
last week one vertually the same was in the Poperty Guid for £45k!!
thats almost a 350% increase.
and they say avrage house prices have gone up 27% over the last year.
wish cars lost only a little of ther 40%
Phil
thats a lot of money to loooooooossssseeeee.
House's!?
I hould a Studio Appartment in Nottm.. just coming up to 2.5 years ago...paid £13,400!!! yes just over £13k
had it valued last November £35k
last week one vertually the same was in the Poperty Guid for £45k!!
thats almost a 350% increase.
and they say avrage house prices have gone up 27% over the last year.
wish cars lost only a little of ther 40%
Phil
04 February 2003, 10:33 PM
#30
Scooby Regular
Join Date: Jul 2002
Posts: 99
Likes: 0
Received 0 Likes
on
0 Posts
as someone who made the mistake of buying not just one..but two rovers..the feeling ill as you get offered a crap trade in is not news to me..i do get your point.,..we buy and expect to loose..but i dont expect to get my ***** felt as well...subaru/market/US...who's to blame for the change of model so soon..as for who's buying the new model..who knows..sti7 owners cant afford the trade in price..classic owners with cars 3-5 years old dont seem to see it as sufficently improved a car to trade in..catch word seems to be WAIT AND SEE...2.5 / u.s spec / 3.0 / 2dr..maybe round the corner..or not..you pay's your money!!!..look on the bright side...not as if you own a HONDA..