Highest £ per mile depreciated V12
Discussion
I know they didn't grab the best of reviews, but the depreciation on the 2023 V12 Vantages is still looking savage. It's making them look like a value buy, but I fear more is yet to come? £265k plus options like carbon seats etc. 160ish miles of use... someone thought they would flip that I assume...
https://www.autotrader.co.uk/car-details/202411025...
https://www.autotrader.co.uk/car-details/202411025...
Familymad said:
I know they didn't grab the best of reviews, but the depreciation on the 2023 V12 Vantages is still looking savage. It's making them look like a value buy, but I fear more is yet to come? £265k plus options like carbon seats etc. 160ish miles of use... someone thought they would flip that I assume...
https://www.autotrader.co.uk/car-details/202411025...
There was one for sale on AT a few months ago for a shade under £180,000. Imho I think at current prices the car offers pretty good value especially in comparison to the new prices of the recently updated current range. A quick search would suggest that supply has fallen so perhaps the market has woken up now. Flipping an AM is very rarely a good strategy. AP was very vocally against it during his tenure, and there are very few models which have not been hit by the tough depreciation curve. V12V Zagato, One-77 and the last seven speed manual V12VS AMR cars are as far as I can see the only exceptions to the rule. Maybe add Rapide AMR too? The biggest problem with previous generation V12 Vantage was the price. And then AML decided to dilute the limited run by releasing a roadster version, despite many coupe owners being assured this wouldn’t happen. If you can live with the previous gen interior I think they are a great buy sub £200,000. BRM. https://www.autotrader.co.uk/car-details/202411025...
Just in case this car might be bought by an idiot, the advertiser has very thoughtfully described how many people have driven the car.
'This vehicle has been owned and driven by 2 people.
Vehicles can be driven by more people than just their owners, especially true for ex-rental or fleet vehicles.
It’s always best to double-check the vehicle’s previous use with the seller.'
There’s a Harry’s Garage video just out on YT concerning the recent massive depreciation on new performance cars. One that caught the eye was an orange latest Vantage specced to £220k or so in a car magazine. Expected value in three years - about £80k……. Bentleys, Lotus’ and some Ferraris not much better.
Like most of his work, well worth a watch.
Like most of his work, well worth a watch.
Edited by Phil74891 on Monday 4th November 20:42
the tribester said:
And aren't AM losing £1million a day as a business too.
Yes, but no need to worry.
Losing money has been normal for 111 years, but of greater importance, such magnificent sports cars.
Your explanation is here:- https://www.pistonheads.com/gassing/topic.asp?h=0&...
Phil74891 said:
There’s a Harry’s Garage video just out on YT concerning the recent massive depreciation on new performance cars. One that caught the eye was an orange latest Vantage specced to £220k or so in a car magazine. Expected value in three years - about £80k……. Bentleys, Lotus’ and some Ferraris not much better.
Like most of his work, well worth a watch.
Like most of his work, well worth a watch.
I think we have been told, that about 75% of new Aston Martin purchases are by PCP type finance.
Presumably therefore, two or three years ago, residual values had to be selected by the finance provider and written into the contract.
At the end of the contract, I suppose the cars are returned to the finance provider, who then sells them at auction.
If conditions have changed for the worse since the contract began, then oops the finance provider makes a thumping loss.
If that is how it works, then I wonder why we have not heard about finance providers being in trouble?
They must be dealing in huge figures.
I wonder if the finance provider takes a futures contract or insurance themselves, to cover losses due to more depreciation than originally written in the PCP agreement?
Edited by Jon39 on Monday 4th November 21:13
New cars in general are expensive nowadays but supercars even more eye watering …just makes 2/3 yr old cars that have lost a chunk look like reasonable value…least that was part of the reason I bought a DBS recently! I wonder at what point the marginal buyer will say they don’t want to lose high 5 figures for 1 yrs motoring in the latest and greatest.
Phil74891 said:
There’s a Harry’s Garage video just out on YT concerning the recent massive depreciation on new performance cars. One that caught the eye was an orange latest Vantage specced to £220k or so in a car magazine. Expected value in three years - about £80k……. Bentleys, Lotus’ and some Ferraris not much better.
Like most of his work, well worth a watch.
He gets more doddery by the video. A ‘21 Vantage in the UK goes for around £90k currently. What were they? Around 130-140 new? So about 67% value after 3 years. I don’t think we are seeing a 36% value after 3 years on the new one. Like most of his work, well worth a watch.
Edited by Phil74891 on Monday 4th November 20:42
Minglar said:
There was one for sale on AT a few months ago for a shade under £180,000. Imho I think at current prices the car offers pretty good value especially in comparison to the new prices of the recently updated current range. A quick search would suggest that supply has fallen so perhaps the market has woken up now. Flipping an AM is very rarely a good strategy. AP was very vocally against it during his tenure, and there are very few models which have not been hit by the tough depreciation curve. V12V Zagato, One-77 and the last seven speed manual V12VS AMR cars are as far as I can see the only exceptions to the rule. Maybe add Rapide AMR too? The biggest problem with previous generation V12 Vantage was the price. And then AML decided to dilute the limited run by releasing a roadster version, despite many coupe owners being assured this wouldn’t happen. If you can live with the previous gen interior I think they are a great buy sub £200,000. BRM.
A dealer of various high end brands told me they tried to flip one and lost £100k on it .I have found a post dated 9th December 2022.
Wonder if anyone bought that £400,000 car, from the (presumably) very optimistic dealer in North Wales ?
Now we see one advertised for £190,000.
................................................................................................................................
THE FLIP(ers) CHART
Auction
£400,000
£331,000
Phil74891 said:
There’s a Harry’s Garage video just out on YT concerning the recent massive depreciation on new performance cars. One that caught the eye was an orange latest Vantage specced to £220k or so in a car magazine. Expected value in three years - about £80k……. Bentleys, Lotus’ and some Ferraris not much better.
Like most of his work, well worth a watch.
Yes a good video and Harry has a lot of knowledge.Like most of his work, well worth a watch.
Edited by Phil74891 on Monday 4th November 20:42
Davil said:
Phil74891 said:
There’s a Harry’s Garage video just out on YT concerning the recent massive depreciation on new performance cars. One that caught the eye was an orange latest Vantage specced to £220k or so in a car magazine. Expected value in three years - about £80k……. Bentleys, Lotus’ and some Ferraris not much better.
Like most of his work, well worth a watch.
He gets more doddery by the video. A ‘21 Vantage in the UK goes for around £90k currently. What were they? Around 130-140 new? So about 67% value after 3 years. I don’t think we are seeing a 36% value after 3 years on the new one. Like most of his work, well worth a watch.
Edited by Phil74891 on Monday 4th November 20:42
Davil said:
A ‘21 Vantage in the UK goes for around £90k currently. What were they? Around 130-140 new? So about 67% value after 3 years. I don’t think we are seeing a 36% value after 3 years on the new one.
I tried to argue that in this threadhttps://www.pistonheads.com/gassing/topic.asp?h=0&...
and got a kicking for my trouble, even though I provided data. It would appear many disagree with you (and me)
(Initial ill-informed opinion discarded)
LTP said:
I tried to argue that in this thread
https://www.pistonheads.com/gassing/topic.asp?h=0&...
and got a kicking for my trouble, even though I provided data. It would appear many disagree with you (and me)
https://www.pistonheads.com/gassing/topic.asp?h=0&...
and got a kicking for my trouble, even though I provided data. It would appear many disagree with you (and me)
I did not comment following your linked post, but was puzzled by the figures when I read them.
The figures show forward projections, perhaps guesswork or PCP residual estimates.
My own Vantage was purchased 3 months before being 3 years old, 6,000 miles.
The main dealer asking price then was at 60% (40% depreciation from original cost).
The USA table showed at one year old, Resale $172,787 (new price $188,859).
If a new $173,000 car can be owned for one year, then only lose $16,000, that seems a great bargain.
Their 3 year figure showed a residual value of 68.76%, whereas my car was 60%.
If the present Vantage depreciates more slowly than the VH cars did in the equivalent first 3 year period, then jolly good, but if that is true why would the matter now be discussed?
Who might want to flatter depreciation, main dealers, car finance providers?
Edited by Dewi 2 on Tuesday 5th November 13:42
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