Why did I buy a TVR ...
Discussion
You have to ask yourself "why did I buy a TVR" at some point other than when something falls off, snaps, gives up the ghost etc. Anyway, I've now found the other time is when you want to sell the bloody thing.
Having had my ups and downs on the TVR enjoyment front I now want to sell my year old Tamora for roughly £10k less than it cost new .... and can I? Fat chance. Could I sell it for perhaps nearer £15k less than it cost new, after one year ... probably.
Now 37% depreciation in 12 months does beggar the question ... why did I buy a TVR.
Having had my ups and downs on the TVR enjoyment front I now want to sell my year old Tamora for roughly £10k less than it cost new .... and can I? Fat chance. Could I sell it for perhaps nearer £15k less than it cost new, after one year ... probably.
Now 37% depreciation in 12 months does beggar the question ... why did I buy a TVR.
The real question is why does anybody buy a new car. As remarked, the first year depreciation is huge. You've got to be thinking of keeping any new car a while longer to make it worthwhile. And even then all you are really getting over say a one year old car is the ego of a new purchase and your choice of colour and goodies.
I doubt if you even get better reliability (with any make) from new. Let some other poor sod have a year or so to sort out the niggles.
Of corse, if everyone took this view then there would be no year old vehicles to buy, so ignore what I've just said!
I doubt if you even get better reliability (with any make) from new. Let some other poor sod have a year or so to sort out the niggles.
Of corse, if everyone took this view then there would be no year old vehicles to buy, so ignore what I've just said!
i must say i am not quite sure why people buy new TVR's. The depreciation in the case of second hand TVRs seems to be extremely low, and yet the initial first owner depreciation seems huge.
Couple that with the fact that TVR's quality control is the first owner of the car, i would rather buy a lowish mileage one that is sorted out and taken the initial hit.
Couple that with the fact that TVR's quality control is the first owner of the car, i would rather buy a lowish mileage one that is sorted out and taken the initial hit.
None of which is making you feel any better, of course!
If it's any consolation, I'm trying to get rid of a 15 months old Mercedes C220CDi Avantgarde SE which cost nearly £30k. It's got 25k miles on it, and the dealer is telling me it's only worth £16.5k.
And this from a manufacturer who is supposed to be renowned for their rock solid residuals!
If it's any consolation, I'm trying to get rid of a 15 months old Mercedes C220CDi Avantgarde SE which cost nearly £30k. It's got 25k miles on it, and the dealer is telling me it's only worth £16.5k.
And this from a manufacturer who is supposed to be renowned for their rock solid residuals!
I didn't actually buy it new, but it still upsets me how much it's lost in 12 months and how much I'll lose on what I paid for it.
I'm not entirely sure why I'm selling it. It really hasn't caused any major problems, it's just the little problems adding up I guess. Also I have no self control ... it hits 100 in 9.5 seconds and I just can't help myself. It has no ABS and no traction control and I have no self control ... it's asking for trouble. Also my wife won't drive it so it leaves her carless when I take hers and the kids. Also I use it everyday, and I just don't think it suits everyday backwards and forwards to work use I know others will argue with me, but that's my opinion.
There are also personal reasons, having survived a heart attack and major knee surgery in the last two years I've decided to ditch the Tamora and the motorbike and try and be more sensible ... and I fancy a change.
It has been fun a lot of the time, but it's p*ssed me off hugely some of the time. Waiting 7 weeks for a replacement windscreen just as an example. I've met some great people ... and no doubt when it goes (if it ever does!) I'll regret selling it.
I'm going for a 350Z, Japanese, reliable, still reasonably quick and two seats. Who knows, it may not be what I want and TVRs will tempt me back ... time will tell.
I'm not entirely sure why I'm selling it. It really hasn't caused any major problems, it's just the little problems adding up I guess. Also I have no self control ... it hits 100 in 9.5 seconds and I just can't help myself. It has no ABS and no traction control and I have no self control ... it's asking for trouble. Also my wife won't drive it so it leaves her carless when I take hers and the kids. Also I use it everyday, and I just don't think it suits everyday backwards and forwards to work use I know others will argue with me, but that's my opinion.
There are also personal reasons, having survived a heart attack and major knee surgery in the last two years I've decided to ditch the Tamora and the motorbike and try and be more sensible ... and I fancy a change.
It has been fun a lot of the time, but it's p*ssed me off hugely some of the time. Waiting 7 weeks for a replacement windscreen just as an example. I've met some great people ... and no doubt when it goes (if it ever does!) I'll regret selling it.
I'm going for a 350Z, Japanese, reliable, still reasonably quick and two seats. Who knows, it may not be what I want and TVRs will tempt me back ... time will tell.
Residuals for cars are a myth. They are created to try and convince Joe Public to buy new cars and not loose much money! Its all a con and I have yet to come across a single car that retains as much as the magazines say....for example, you have Autocar that put in projected residuals for models in the back - 33% is an average for 3 years and 10K miles a year. But then you have TopGear who give you a projected price of what to pay. Work the two out and there is a BIG difference..... and I aint even mentioned the mysterious Glass's guide.....
In the case of a TVR, you have to be very careful. It is quite possible to buy a new one and sell it a few months later at the same price - but under the knowledge that this is a case of finding the right buyer. But in general TVR ramp up their production pretty quickly and demand isnt massive - hence waiting lists arent that long, and more often than not customers will hold out for precisely the colour combination they want, opting to wait the 6 months rather than having one sooner..... dont forget that there is a whole "experience" in seeing your car built and collecting it etc.
So you have lost a fair whack on first years value. Sorry, but that the situation. Its a specialist sports car with a very configurable specification in March for a model that isnt the most popular. According to the dealers I have spoken to the Tamora isnt half as popular as the T350 (dont know why!).
A quick example from the AA website:
Mercedes-Benz C-Class 2.1TD Diesel 4 Door Saloon C200 CDi Elegance Automatic (an in demand car with the right spec) - List price (no extras) £24660
1 year - £16794 (68%) (10,000 miles per year)
2 years - £13720 (55%) (10,000 miles per year)
3 years - £11249 (45%) (10,000 miles per year)
Or
Ford Mondeo 2.0TD Diesel 5 Door Hatchback Zetec Manual (probably the best spec for this type of car) - list price (no extras) £18042
1 year - £9409 (52%) (10,000 miles per year)
2 years - £7460 (41%) (10,000 miles per year)
3 years - £5935 (32%) (10,000 miles per year)
Yeap, thats £6,000 for a car with 30K on the clock that cost £18,000 new!!!
Finally
Porsche Boxster S 3.2 Petrol 2 Door Convertible [no trim] Manual - officially the lowest depreciating car in the UK at the moment - List price - £38150 (no extras)
1 year - £30232 (79%) (10,000 miles per year)
2 years - £25644 (67%) (10,000 miles per year)
3 years - £21817 (57%) (10,000 miles per year)
Thats a 21% loss in value (or £8,000) in 10,000 miles and 12 months. And this is the best in the UK.... pretty shocking really.
For those who are feeling brave take a look at:
www.theaa.com/allaboutcars/advice/advice_residual_home.jsp
Please take the web site with a pinch of salt - remember the AA to leasing, PCP and car loans - so they will probably make the figures look better than they really are - you have been warned.
Why do people buy brand new cars again?
In the case of a TVR, you have to be very careful. It is quite possible to buy a new one and sell it a few months later at the same price - but under the knowledge that this is a case of finding the right buyer. But in general TVR ramp up their production pretty quickly and demand isnt massive - hence waiting lists arent that long, and more often than not customers will hold out for precisely the colour combination they want, opting to wait the 6 months rather than having one sooner..... dont forget that there is a whole "experience" in seeing your car built and collecting it etc.
So you have lost a fair whack on first years value. Sorry, but that the situation. Its a specialist sports car with a very configurable specification in March for a model that isnt the most popular. According to the dealers I have spoken to the Tamora isnt half as popular as the T350 (dont know why!).
A quick example from the AA website:
Mercedes-Benz C-Class 2.1TD Diesel 4 Door Saloon C200 CDi Elegance Automatic (an in demand car with the right spec) - List price (no extras) £24660
1 year - £16794 (68%) (10,000 miles per year)
2 years - £13720 (55%) (10,000 miles per year)
3 years - £11249 (45%) (10,000 miles per year)
Or
Ford Mondeo 2.0TD Diesel 5 Door Hatchback Zetec Manual (probably the best spec for this type of car) - list price (no extras) £18042
1 year - £9409 (52%) (10,000 miles per year)
2 years - £7460 (41%) (10,000 miles per year)
3 years - £5935 (32%) (10,000 miles per year)
Yeap, thats £6,000 for a car with 30K on the clock that cost £18,000 new!!!
Finally
Porsche Boxster S 3.2 Petrol 2 Door Convertible [no trim] Manual - officially the lowest depreciating car in the UK at the moment - List price - £38150 (no extras)
1 year - £30232 (79%) (10,000 miles per year)
2 years - £25644 (67%) (10,000 miles per year)
3 years - £21817 (57%) (10,000 miles per year)
Thats a 21% loss in value (or £8,000) in 10,000 miles and 12 months. And this is the best in the UK.... pretty shocking really.
For those who are feeling brave take a look at:
www.theaa.com/allaboutcars/advice/advice_residual_home.jsp
Please take the web site with a pinch of salt - remember the AA to leasing, PCP and car loans - so they will probably make the figures look better than they really are - you have been warned.
Why do people buy brand new cars again?
Im selling my year old Tuscan S through Racing Green I have allways bought new TVRs the next 2 are number 6 and 7 (TVR mad Wife as well) I have allways sold my cars through the dealers on a sale or return basis they can ask higher premiums for the cars add warranty etc you will pay 10% to the dealer but that is usually the uplift they can charge being a dealer rather than you selling private hope that makes sense...John and Gareth are really helpfull it would be worth a call.
Residuals?
hmmm, don't think the 'S' is going to lose much more as long as i keep her in tip top shape!
Its the with modifying cars.
my Bugs cost a packet!!
but i did have plenty of
for the £
have to treat a tvr the same.
everything thats fun cost 'something'
even if its a misses moaning
hmmm, don't think the 'S' is going to lose much more as long as i keep her in tip top shape!
Its the with modifying cars.
my Bugs cost a packet!!
but i did have plenty of
for the £ have to treat a tvr the same.
everything thats fun cost 'something'
even if its a misses moaning
I bought one because I'd always wanted one. I like noise and speed and something a bit different from everyone else ... and I hate Porsches. I started with a Chimaera and that was great, the first Tamora was a bag of sh*te, and this one has been fantastic ... oh yes, I fancied sex in public places with the roof off, and that was equally as good.
Why did you buy yours ?
Why did you buy yours ?
Why did I buy a TVR? - 'cos it was the right thing to do.NigeW said:
...
I'm going for a 350Z, Japanese, reliable, still reasonably quick and two seats. Who knows, it may not be what I want and TVRs will tempt me back ... time will tell.
Sounds fair. I think its a 2+2 though so you will get even more for your money! Sell it on while its still in demand and before it becomes the next TT and you might not lose as much either.
Shame you lost out on the Tamora. I reckon they will start to fetch some money it 10 years time since there is a lack of them around. Just like the Griffs now.
If you dont like losing money on cars then buy the ones that dont lose money! I have sold my last 10+ cars for more money then I bought them for. That chain has just stopped since I have started doing over 2000 miles per month.
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