What would a 59 plate car lose in 2&1/2 Years?

[Benengo]

Potentially i'm being posted overseas for a 2 1/2 year tour. This is great as its a good family and financial move; however, we have just (2 months ago) changed the family car to a not very PH Citroen C5 HDI 160 touring, 35k miles, Feb 2010 (approx £10500).

We'd be home reasonably often and the wife is keen on keeping it however, given what it will lose in depreciation whilst we are away, I'm trying to convince her its best to sell, hire when we are back (perhaps 3 lots of 1 week per year) then buy something similar or a bit better on our return. Any thoughts?

[va1o]

Its difficult to say exactly what it would loose. Yes its already had its initial big deprecation hit but the value will obviously continue to reduce. At the same time though if you sold it for trade money today, they might be retailing for the same amount in a year or two.

[z4chris99]

I suspect you would lose 4k on it

that's a complete guesstimate but it sounds about right.

[CampDavid]

Selling privately you'd probably struggle to get £8000 for it, looking at autotrader.

In 2.5 years make that £3500.

Ouch.

[MJK 24]

Check the classifieds for 6 year old Citroen C5's in a similar spec and that's a fair assumption of where you're at?

Factor in three years of insurance, MOT's, RFL etc.

[kambites]

My guess would be that it'll lose around half its value in 2.5 years. Plus, as above, you'll end up paying some of the fixed running costs while you're away.

[zcacogp]

How long do you intend to keep the car for? If you were planning to keep it for a long time and run it until it drops then keep with the plan; it may depreciate in value but the wear for the next 3 years will be minimal and it'll be that much further away from the sad, final day.


Oli.