How much does a second owner affect residual values?
Discussion
Hi All,
My other has recently ordered a new Golf GTD. She's been quoted that she will get the car in about March - April time (stupid lead time for a golf!).
Ideally, she wants it sooner that. Ideally for January so we can take it to the Alps for our holiday. I've been looking into, and we've now got a demonstrator on the card. We're PCPing it, so it actually works out more expensive monthly on the demo than on the new one. Interest rates are the same, but guaranteed future value is much less.
So she has ordered a £28k car. We've managed to get it for £25k ish (about 12% discount). And on a PCP, it's £320 a month (£500 dep), £16,000 GFV (Total Payable =£27200).
On this demo we're contemplating, it's actually a £31k (new List), and they are now selling it for £24,000 which in effect is about 20-25% off the car new, however, is 3 months old, 2k on the clock, and already has an owner. On a PCP, it's £360 a month, but the GFV is £13,000 (Total Payable = £25,600). And to bare in mind, on the demo we're considering, it would be £34k total payable without a discount.
So yeah, back to my question. Does having a second owner effect the residual value that much? Even though the monthly's are more on the demo, I would expect to have a fair bit more equity on the demo than the new one.
My other has recently ordered a new Golf GTD. She's been quoted that she will get the car in about March - April time (stupid lead time for a golf!).
Ideally, she wants it sooner that. Ideally for January so we can take it to the Alps for our holiday. I've been looking into, and we've now got a demonstrator on the card. We're PCPing it, so it actually works out more expensive monthly on the demo than on the new one. Interest rates are the same, but guaranteed future value is much less.
So she has ordered a £28k car. We've managed to get it for £25k ish (about 12% discount). And on a PCP, it's £320 a month (£500 dep), £16,000 GFV (Total Payable =£27200).
On this demo we're contemplating, it's actually a £31k (new List), and they are now selling it for £24,000 which in effect is about 20-25% off the car new, however, is 3 months old, 2k on the clock, and already has an owner. On a PCP, it's £360 a month, but the GFV is £13,000 (Total Payable = £25,600). And to bare in mind, on the demo we're considering, it would be £34k total payable without a discount.
So yeah, back to my question. Does having a second owner effect the residual value that much? Even though the monthly's are more on the demo, I would expect to have a fair bit more equity on the demo than the new one.
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