Used Car prices and depreciation

Ybe
Ybe Posts: 274 Forumite
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in Motoring
Is it normal that there is a £3000 price difference between the same model - one a 66 plate car and one a 17 plate car even though they seem to have only been registered months apart? The 17 plate had a generation change with a significant update in design and features. Is this the reason there’s such a big difference or is it normal for a car to lose £3000 in the space of 2/3 months due to a plate change?
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Comments

  • Car_54
    Car_54 Posts: 8,212 Forumite
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    Ybe wrote: »
    Is it normal that there is a £3000 price difference between the same model - one a 66 plate car and one a 17 plate car even though they seem to have only been registered months apart? The 17 plate had a generation change with a significant update in design and features. Is this the reason there’s such a big difference or is it normal for a car to lose £3000 in the space of 2/3 months due to a plate change?
    If there’s a significant model change then you’re not comparing like with like.

    If they were identical apart from the age difference, then you’re still looking at asking prices, which may or may not reflect reality.
  • Carrot007
    Carrot007 Posts: 4,534 Forumite
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    Car_54 wrote: »
    If there’s a significant model change then you’re not comparing like with like.


    THIS!


    I often so for the model just before a change because you get it so much cheaper.
  • Tokk
    Tokk Posts: 119 Forumite
    Carrot007 wrote: »
    THIS!


    I often so for the model just before a change because you get it so much cheaper.

    Indeed!
    Heck, same with facelifts without major changes to interior or mechanicals.

    Some people don't like having something that's visibly not the latest version... They make the previous stuff cheaper for us :money:
  • AdrianC
    AdrianC Posts: 42,189 Forumite
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    What proportion of the price is £3k?
  • facade
    facade Posts: 7,026 Forumite
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    Carrot007 wrote: »
    THIS!


    I often so for the model just before a change because you get it so much cheaper.


    Plus, the "improved" model is usually more "cost effective" to produce, and deletes loads of things that were on the one before, like a spare wheel, thick metal...


    (The MK1 of anything is usually the best)
    I want to go back to The Olden Days, when every single thing that I can think of was better.....

    (except air quality and Medical Science ;))
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
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    I wouldnt worry OP, just get the finance you can afford and drive away a happy bunny.
  • EssexExile
    EssexExile Posts: 6,138 Forumite
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    I got several thousand pounds off a new pre-facelift car as the newer version was imminent. When selling I expect it go for less than a facelifted version of same age.
    Tall, dark & handsome. Well two out of three ain't bad.
  • Ybe
    Ybe Posts: 274 Forumite
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    But almost all car manufactures refresh their models every 4-6 years. So does that mean unless you buy a car produced in the first year of a refresh cycle, you lose more to depreciation?
  • bertiewhite
    bertiewhite Posts: 1,904 Forumite
    First Post
    Carrot007 wrote: »
    THIS!


    I often so for the model just before a change because you get it so much cheaper.
    And I would imagine any teething troubles would be ironed out by the time a model is due to be replaced
  • forgotmyname
    forgotmyname Posts: 32,551 Forumite
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    Yep always the best model to choose, just before it's replaced.

    All those niggles will have been fixed, ready for them to make the same mistakes on the next model.
    Censorship Reigns Supreme in Troll City...

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