It's time to start digging up those Squirrelled Nuts!!!!

Albermarle

 A six year old car that is still depreciating and the maths would probably go the other way. 

Although in the last nearly two years, second hand cars have appreciated rather than depreciated, ( or at least not really  depreciated) and apparently this will continue for a while longer  for more popular models.

I bought a nearly new car 18 months ago ( retirement present to self) and today with 10K miles on the clock, it has only lost about 5% in value, even though not a particularly popular model. An unusual period.....

MallyGirl

A friend bought a brand new VW Camper (at eye watering cost) and after a few trips decided it wasn't for them. The garage just bought it back for more than they paid!

michaels

Albermarle said:

 A six year old car that is still depreciating and the maths would probably go the other way. 

Although in the last nearly two years, second hand cars have appreciated rather than depreciated, ( or at least not really  depreciated) and apparently this will continue for a while longer  for more popular models.

I bought a nearly new car 18 months ago ( retirement present to self) and today with 10K miles on the clock, it has only lost about 5% in value, even though not a particularly popular model. An unusual period.....

What goes up can come down - electric cars were up until a few months ago in a bubble where 2-3 year old used ones were fetching pretty much the same as new but in just 3 or 4 months they are down 20% or more.  I reckon you can make a pretty good guess how much a car might be worth at 10, 15 and 20 years old and straightline between the current age and value and that to give an annual depreciation cost.  Thus buying a 2 year old car now is probably pretty poor value due to the current SH price boom resulting from lower new volumes.

NedS

Albermarle said:

 A six year old car that is still depreciating and the maths would probably go the other way. 

Although in the last nearly two years, second hand cars have appreciated rather than depreciated, ( or at least not really  depreciated) and apparently this will continue for a while longer  for more popular models.

I bought a nearly new car 18 months ago ( retirement present to self) and today with 10K miles on the clock, it has only lost about 5% in value, even though not a particularly popular model. An unusual period.....

We bought our car new under the scrappage scheme in 2009 and at 3 years old it was worth the same as we paid for it new (due to low mileage, the scrappage scheme discount, VAT rising from 15% to 20% and inflation/recovery of car prices). Sounds like we are going through another unusual period now. At 13 years old, it's still barely run in. Only new car we are ever likely to own.

Somebody

We have a 1999 Toyota Yaris auto that has done just 26,000 miles.

quirkydeptless

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enthusiasticsaver

Happy New Year @Sea_Shell.  I popped on to see your usual end of  year  round up and wasn't disappointed.  Puts us to shame but our circumstances are different.  We have helped out our children, our pensions are mainly DB and DH gets his state pension next year so older than you.  

After living very comfortably for the last 5 years since our early retirement just on savings and DB pensions we have bitten the bullet and started monthly withdrawals on our S and S ISAs and SIPPs from investments. We figured our state pensions will increase our income by £20k within the next 3 years so might as well draw on the portfolio until then. The extra income will help  our DD1 with her house move and private health costs for one of our DGDs and a family holiday.  If we could not afford it we would not do it but it makes sense to help out if we can. 

I am running a 10 year old car which has low mileage but is not ULEZ compliant so I may have to change that as I drive up to London and Bristol  quite a lot to visit family and help out mum.  Is anyone else driving older cars worried about that? 

Sea_Shell

quirkydeptless said:

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I was starting to think I'd wandering onto the Motoring forum!! 😉

ex-pat_scot

enthusiasticsaver said:

I am running a 10 year old car which has low mileage but is not ULEZ compliant so I may have to change that as I drive up to London and Bristol  quite a lot to visit family and help out mum.  Is anyone else driving older cars worried about that? 

I expect that more and more areas will become ULEZ in the next few years.
It's a rare thing for us to be in a ULEZ area at the moment - mainly the odd family visit or university drop-off/collection, so the cost is not significant.
By the time ULEZ will be more widely used, I suspect that either (a) we'll use the little petrol car for those trips and (b) the old diesel will be worthless (it's already on 150,000m).
I expect a glut of cheaper old non compliant diesels to be on the market, as those who live in / near the ULEZ zones are trying to offload.

MallyGirl

ULEZ does concern us - my car (big enough for dogs) and camper van are not compliant so it does affect where we choose to go