Where do we see mark 1 valuations going being realistic?
Discussion
So I have a 95 N Monaco mx5. It has 57k on the clock, has nothing wrong with it mechanically, and whatever it has needed it has been given. There is a little rust on one front wing which will need seeing to but the sills/arches are good as is the underside and all suspension bits.
It lives at my parents as I live within an ulez. The tax is a bit annoying as it's 340 quid a year and the insurance doesn't seem to be going down and is currently 140 a year or so.
So every year it costs me about 600 quid ish in fixed costs.
I drive it every now and then and love doing so but I guess I'm now at the point whereby I'm thinking if I hold onto it for another 5 or even 10 years - what will it be worth being realistic? And taking that into account is it worth me continuing to spend 600 quid a year on a car that I probably only drive 4-5 times a year.
Basically I rarely use it and have I spose really held onto it because I thought that it might be worth a decent amount in 10 years or so ( I was hoping 10k plus).
If I am being a hopeless romantic and really it's probably only going to be worth 3-5k then I might think about getting rid of it, despite the pleasure I get from driving it a handful of times a year.
So, where do we realistically think, using a bit of informed guess work, mark 1 values will be in the future?
It lives at my parents as I live within an ulez. The tax is a bit annoying as it's 340 quid a year and the insurance doesn't seem to be going down and is currently 140 a year or so.
So every year it costs me about 600 quid ish in fixed costs.
I drive it every now and then and love doing so but I guess I'm now at the point whereby I'm thinking if I hold onto it for another 5 or even 10 years - what will it be worth being realistic? And taking that into account is it worth me continuing to spend 600 quid a year on a car that I probably only drive 4-5 times a year.
Basically I rarely use it and have I spose really held onto it because I thought that it might be worth a decent amount in 10 years or so ( I was hoping 10k plus).
If I am being a hopeless romantic and really it's probably only going to be worth 3-5k then I might think about getting rid of it, despite the pleasure I get from driving it a handful of times a year.
So, where do we realistically think, using a bit of informed guess work, mark 1 values will be in the future?
I don`t see them ever climbing that much really and that`s mainly down to the reputation they have for rust issues. I could not personally fork out £10k for a supposed minter only to get it home and start finding issues which sounds a bit silly really.
Just use it look after it and enjoy it would be my advice, try your best to protect it to stop it rusting and when you do sell it you can command a little more.
If you do sell it buyers will probably want lots of photos of the underside and key areas so coating it in a wax product or similar is probably not recommended as they will think your trying to hide something.
Great cars that are hard to beat, I do miss mine and would have another tomorrow even after owing an Elise and now an S2000.
Just use it look after it and enjoy it would be my advice, try your best to protect it to stop it rusting and when you do sell it you can command a little more.
If you do sell it buyers will probably want lots of photos of the underside and key areas so coating it in a wax product or similar is probably not recommended as they will think your trying to hide something.
Great cars that are hard to beat, I do miss mine and would have another tomorrow even after owing an Elise and now an S2000.
At current inflation rates £10k in 10 years is like £8k now. If inflation goes up it will be less.
Like the previous answer I don’t see them rising in value like that, they just aren’t that popular or rare, neither do they have the cachet of say a fast Ford (for what ever reason).
But then who knows?
Like the previous answer I don’t see them rising in value like that, they just aren’t that popular or rare, neither do they have the cachet of say a fast Ford (for what ever reason).
But then who knows?
They'll always be worth 'something' if in good condition, but I suspect the biggest problem is that they are still making MX5s brand new that are basically the same (naturally aspirated, manual gears, lightweight), so you don't have to go to the effort of running a 'modern classic' aged car to get the driving experience the MX5 offers.
There's not really any other late 80s/early 90s cars that have a modern equivalent that is so similar.
There's not really any other late 80s/early 90s cars that have a modern equivalent that is so similar.
These cars have owners that put them up for sale in the MX5 owners club mag and website, but I don't know if they ever go for the prices they ask.
Maybe join the club for about £40 I think, and try selling it to people who would really like one? You may get a great price?
We all have cars we think are worth more than they actually are. If you hold onto it at around 600£ a year over the next 10 years you would have spent £6k is that worth it? (That's man Maths)
I only use my MX5 for 6 months of the year, so half the tax, insurance at around £150 and I actually enjoy my driving when it it. Like all things though if it came to the point it was unaffordable it would go. I did a Spain/Portugal road trip in it last September, fantastic....one of my better holidays ever. Enjoy it whilst you can
Maybe join the club for about £40 I think, and try selling it to people who would really like one? You may get a great price?
We all have cars we think are worth more than they actually are. If you hold onto it at around 600£ a year over the next 10 years you would have spent £6k is that worth it? (That's man Maths)
I only use my MX5 for 6 months of the year, so half the tax, insurance at around £150 and I actually enjoy my driving when it it. Like all things though if it came to the point it was unaffordable it would go. I did a Spain/Portugal road trip in it last September, fantastic....one of my better holidays ever. Enjoy it whilst you can
Having owned Mk1's in various guises over the last 20 years, this has been a discussion point for the whole of those 20 years. The result being they've never really gone up in value. Some special editions get good value but that's generally due to the sum of the parts - the seats in the RS are worth a fortune on their own.
As suggested above, shine the car to within an inch of it's life and see if you can get a bite in the Owners Club, it' likely the only place you'll get strong money for one.
As suggested above, shine the car to within an inch of it's life and see if you can get a bite in the Owners Club, it' likely the only place you'll get strong money for one.
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