Depreciation- just how bad is it?
Discussion
Chaps, I've sure this topic as been visited few times on the forum, but wondered if the 3R used market exhibited the same depreciation as the 2.5 GTO. Have a Porsche Currently, and wondered if depreciation were worse, say, than that. It's a hard thing for me to judge as the price of the Noble seems to have risen so rapidly in Real terms (the 2.5 was 40k, My 3r is going to be 56k with sump, aircon and 6-speed). Do people want to buy these things second hand? Is there still a market? Are they hard to sell? It's just a nice thing to know in advance. It seems to me (perhaps wrongly)that the only people getting high prices for used ones of these are the dealers, and, maybe you can tell me different, but I'm sure they don't offer you great prices when you p/x. Not having second thoughts. Just wondered what mine was going to be worth if I only had it for a year.
Sub £40k Nobles in good colours seem to find homes very quickly in my experience, once under £40k they are finding a new audiance, over £40k there is a tendancy to go for a new latest version for only a 'few' thousand more.
As Nobles get cheaper I predict a stronger following as people find it easier to justify as a 2nd/3rd track/fun car
As Nobles get cheaper I predict a stronger following as people find it easier to justify as a 2nd/3rd track/fun car
I can only comment on depreciation for the 2.5l which I sold last August after having purchased in April 2002.
Bought for 48K April '02.Tried to sell privately in July '03 for £42k - not one call!Eventually sold to dealer for 36.5k.
I really dont think many people will consider buying these things privately. Despite the fact there is supposed to be a long waiting list.
With the way Noble prices have risen in the last two years I really don't think they are doing themselves any favours. They're now into 911 territory and whilst its a fantastic car you cannot compare the two.
I reckon if you keep the 3R for 12 months you are going to lose 15k easy!
Still a great car so don't let me put you off, but go into the purchase at least knowing the score from some one whose been there!
kinetic said:
Bought for 48K April '02.Tried to sell privately in July '03 for £42k - not one call!Eventually sold to dealer for 36.5k. ..... Retailed @ £40K I expect!
I reckon if you keep the 3R for 12 months you are going to lose 15k easy!
Sad fact of life is your going to take a very similar hit no matter what you buy or badge it wears at this level, even the mighty 911 is weakening in the face of a new model
... as far as the dealer is concerned the VAT goes immediately your front tyres hit the road outside his showroom, so that's £8-9K gone for starters!
My 3R is almost ready and I'm breaking the golden rule of always buying a car 1-2 years old so someone else pays for the depreciation and VAT and fixes all of those niggles - well, too late now!
My 3R is almost ready and I'm breaking the golden rule of always buying a car 1-2 years old so someone else pays for the depreciation and VAT and fixes all of those niggles - well, too late now!
then factor in a dealer margin for resale, allow for the fact its now 12mths old not new and thats where your circa £15k disappeared.
At the end of the day your 12mth old example has got to be able to sit on the dealers front and give you a reason to buy it as opposed to a brand fire new one, and at this level my guess is it needs to be circa 10k behind the cost of a new one on a dealers from
At the end of the day your 12mth old example has got to be able to sit on the dealers front and give you a reason to buy it as opposed to a brand fire new one, and at this level my guess is it needs to be circa 10k behind the cost of a new one on a dealers from
Its a shame more punters won't buy used Nobles privately. I would definately do so if I purchased another (maybe a 3R come april time!)
They're pretty well built and reliable and a fairly safe bet if you get them checked out properly.
I looked at a 2003 GTO 3 the other day at £42k - ie.
4-5K Less than dealer price and it was immaculate, seems crazy to pay the extra to the dealer.
I bought my GTO3 second hand from a dealer. I know it cost more that way. IMHO it is worth a few quid extra (unless you really know the person you're buying from) as a sort of insurance policy.
A dealer has a legal and moral (some have morals don't they?) responsibility and is able to put things right if found wrong, whereas most private sellers are off to the beach/pub/casino/showroom to spend your cash and can't/won't pick up the pieces.
Also I have always found that a dealer from whom you bought a car seems more interested in giving good future service.
There again, if you do get the car checked out before buying privately, the saving in dealer's mark-up will more than likely cover any work that you find needs doing. And if its in warranty, that helps too!
A dealer has a legal and moral (some have morals don't they?) responsibility and is able to put things right if found wrong, whereas most private sellers are off to the beach/pub/casino/showroom to spend your cash and can't/won't pick up the pieces.
Also I have always found that a dealer from whom you bought a car seems more interested in giving good future service.
There again, if you do get the car checked out before buying privately, the saving in dealer's mark-up will more than likely cover any work that you find needs doing. And if its in warranty, that helps too!
I'm not convinced any dealers have morals!
Also I think its easier to sus out the true history of the car if you buy privately and speaking personally to the owner etc.
Maybe its worth an extra grand to buy from the dealer but 4 or5k ? There margins on used performance cars like Nobles, TVR Porsche etc are huge. I rekon around 15% plus.Don't let anyone tell you they just add a couple of grand!
In fact my new philosophy on buying these things is get your name down early on new models, drive it for three months then sell on.
Just done that with the new Gallardo I should have delivered second week of Jan. I rekon I can sell it on with a 20k premium if I don't keep it too long.
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