bloody tvr depreciation
Discussion
I am sick of losing money on cars (especially tvrs). 4 months and the car has takin 10k (from the owner) the dealer is not at fault but is it possable to ever not be absolutly slaughtered by tvrs.this i promise is the last time this marque will be on my driveway. it is like beautiful women they are impossible to resist but always take you to the cleaners.
goodbye tvr you financial rapist.....
goodbye tvr you financial rapist.....
I lost 8K in six months with a top of the range MGTF160! That is proportionally more than what you have lost. However, since I swallowed that very bitter pill of depreciation, I vowed never to buy new again (have 4 brand new cars from 2000-02, hate to think of the money I squandered!) I will only buy used cars now, albeit nearly new, makes much better sense 
Shirley you went into this eyes open?
"How much is a new T350 with the bits I want?"
"How much is a year old one (dealer p-ex to me, not forecourt price"
"How much less if I p-ex outside the TVR network?"
My T350 is the first new car I've ever bought. I was looking 2nd hand at the time to avoid the worst of the depreciation. But I wanted all the goodies and the revised targa panels, load cover, sunvisors, fuel filler, glovebox and boot recess 'finger holes'.
I only bought new because I couldn't get what I wanted for less. Then I got the car for £39,995 so a good price anyway. I bought with the knowledge that I would only get 25-30k in 18-24 months time.
I'm not defending TVR's depreciation, just commenting that we all know the facts when we buy one.
BTW, if you paid say 50k on a fancy Noble what would you get in p-ex in 10 months/1 years time? Or a loaded BMW M3? (again main dealer p-ex value). Same for a Boxster or 996 in th elast 12 months (I'm sure the new model affected this, and the new models will be great in depreciation terms for a few years).
Some cars keep their value better than others. Just be glad you didn't buy a 7 series or an M5 ;-)
"How much is a new T350 with the bits I want?"
"How much is a year old one (dealer p-ex to me, not forecourt price"
"How much less if I p-ex outside the TVR network?"
My T350 is the first new car I've ever bought. I was looking 2nd hand at the time to avoid the worst of the depreciation. But I wanted all the goodies and the revised targa panels, load cover, sunvisors, fuel filler, glovebox and boot recess 'finger holes'.
I only bought new because I couldn't get what I wanted for less. Then I got the car for £39,995 so a good price anyway. I bought with the knowledge that I would only get 25-30k in 18-24 months time.
I'm not defending TVR's depreciation, just commenting that we all know the facts when we buy one.
BTW, if you paid say 50k on a fancy Noble what would you get in p-ex in 10 months/1 years time? Or a loaded BMW M3? (again main dealer p-ex value). Same for a Boxster or 996 in th elast 12 months (I'm sure the new model affected this, and the new models will be great in depreciation terms for a few years).
Some cars keep their value better than others. Just be glad you didn't buy a 7 series or an M5 ;-)
In my mind you should only buy new if you are planning on keeping the car 18-24 months+. At that point, there is every chance it will start to even itself out with any other car you may have chosen.....
I bought an S2000 in 2001 for £21k, sold in 2004 for £16.5k! There are some cars out there that won't sting you so bad, but it seems with the tivs that the longer you hold on, the less (in equivalent terms) you are likely to lose on top of what is considered normal.
It doesn't take a scientist to work out that if you buy a new car and sell it within 6-12 months you are going to get hit hard. If you are changing this often clearly its more economical to buy secondhand?!
I bought an S2000 in 2001 for £21k, sold in 2004 for £16.5k! There are some cars out there that won't sting you so bad, but it seems with the tivs that the longer you hold on, the less (in equivalent terms) you are likely to lose on top of what is considered normal.
It doesn't take a scientist to work out that if you buy a new car and sell it within 6-12 months you are going to get hit hard. If you are changing this often clearly its more economical to buy secondhand?!
tuscanraider said:
I am sick of losing money on cars (especially tvrs). 4 months and the car has takin 10k (from the owner) the dealer is not at fault but is it possable to ever not be absolutly slaughtered by tvrs.this i promise is the last time this marque will be on my driveway. it is like beautiful women they are impossible to resist but always take you to the cleaners.
goodbye tvr you financial rapist.....
Colin
hi mate..you selling the 350.?
Rob
Don't talk to me about losing money on cars. Bought new Audi tt 225 sept 2002 sold it nov 2003 lost £10k.
Bought new Audi tt V6 nov 2003 sold it Jan 2005, lost £11.5k. Bought new T350c which I intend to keep for a few years unless it lets me down. Best car I've owned. glad I changed. At least if I lose lots of dosh on this I'd of owned a great looking fast car, not your run of the mill car.
No regrets yet.
Bought new Audi tt V6 nov 2003 sold it Jan 2005, lost £11.5k. Bought new T350c which I intend to keep for a few years unless it lets me down. Best car I've owned. glad I changed. At least if I lose lots of dosh on this I'd of owned a great looking fast car, not your run of the mill car.
No regrets yet.
whilst i honesly think tvrs are great for not depreciating as much as most other makes out there,if you really want a tvr,but dont want depreciation,then buy a griff! ,been steadily increasing in value for the last 2 years or so,the speed six is making sure of that!and look set to continue
In future, what I intend to do, assuming I am still working on decent pay of course!, is to buy maybe a 6-12 month old Tam (or very similar),. Then, the money I saved on depreciation I would 'upgrade it using the guys in their specialised area, thus ensuring that everything is done as well as it can be, and not 'Ad Hoc' as we have seen with some cars direct from the factory.
Mongoose, you are naughty!
Mongoose, you are naughty!
2 Smokin Barrels said:
New cars depreciate. Fact.
Your average car loses 30% in 3 years... some more, but not that many lose less.
I'd say that is conservative. Ain't it nearer 50%?
That is so true, the problem with today's cars is that a lot of them seem to be 'fads', and as disposable as clothing fashion, what was hot last year is worth zilch this year;, look at the VW Beetle! they are dirt cheap now, plus the PT Cruiser, all MG cars (seen a year old ZR105 for just over 5K!!)
You should buy a car, especially a full blooded sports car like a TVR for yourself to enjoy, if you worry about depreciation, perhaps a Mini convertable would fit the bill,, but then again, next year that too may be out of fashion when people realise it's not that fast, not that good at handling as all the press has made out etc.
Worse still there are some cars you could buy new and never sell, as no-one wants it, even at a decent discount price, my TF160 was a case in point,,,
chris watton said:
In future, what I intend to do, assuming I am still working on decent pay of course!, is to buy maybe a 6-12 month old Tam (or very similar),. Then, the money I saved on depreciation I would 'upgrade it using the guys in their specialised area, thus ensuring that everything is done as well as it can be, and not 'Ad Hoc' as we have seen with some cars direct from the factory.
Mongoose, you are naughty!
Rather than buy a new one and max-out your Visa on upgrades, new stereo, sat nav, etc. etc? Good plan Chris!!
nubbin said:
In future, what I intend to do, assuming I am still working on decent pay of course!, is to buy maybe a 6-12 month old Tam (or very similar),. Then, the money I saved on depreciation I would 'upgrade it using the guys in their specialised area, thus ensuring that everything is done as well as it can be, and not 'Ad Hoc' as we have seen with some cars direct from the factory.
Mongoose, you are naughty!
Rather than buy a new one and max-out your Visa on upgrades, new stereo, sat nav, etc. etc? Good plan Chris!!
LOL, but my Visa is clear !! I have never bought anything I cannot afford, I just would rather spend any money saved on missing the depriciation on stuff I want for the car
jodypress said:
Buy a Griff. i know someone that paid £19500 for a 97 griff 500 and sold it 2/3 years later for £18500
You do have a point there, I bought a Chim for 18K in 2002, sold it for 17K last year! I was VERY pleasently suprised! I also bought my Tam for around 2K less than what the average was going for at the time, luckily, the chance paid off! (thus far!)
Targarama said:
BTW, if you paid say 50k on a fancy Noble what would you get in p-ex in 10 months/1 years time? Or a loaded BMW M3? (again main dealer p-ex value). Same for a Boxster or 996 in th elast 12 months (I'm sure the new model affected this, and the new models will be great in depreciation terms for a few years).
Bought My 3 R in March 2004 £56 K
Sold July 2004 £44K
The more you spend the more you loose
mongoose said:
whilst i honesly think tvrs are great for not depreciating as much as most other makes out there,if you really want a tvr,but dont want depreciation,then buy a griff! ,been steadily increasing in value for the last 2 years or so,the speed six is making sure of that!and look set to continue
I tend to agree. The dubious nature of the speed 6 (or the alleged nature, let's not start that debate again) means that the previous generation of TVRs are becoming more sought after, or at least are holding value well. Griffs especially.
I paid £30k for my Griff 4 years back (off main delaer) and I reckon it should still see £20k in a private sale.
Only have to look at the classifieds to gauge say a late Griff with similar age Tuscan - worrying.
Still, enjoy, you don't buy as TVR as an investment, you buy it to drive!
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