T350 residuals
Discussion
I wanted to start a topic on this to guage peoples views - residuals seem terribly depressed at the moment? - and not because of the obvious news over the last few weeks - they were like this before that came to light.
Is it me or have they just bombed in the last few months? - while at the same time the Tuscan residuals have held quite well (compare the classifieds). There are some ridiculously priced T350s out there...whats the future of the residual in terms of bottoming out do you think?
Is it me or have they just bombed in the last few months? - while at the same time the Tuscan residuals have held quite well (compare the classifieds). There are some ridiculously priced T350s out there...whats the future of the residual in terms of bottoming out do you think?
Residuals and TVRs ... nasty topic. All sports cars seem to be suffering at the moment - look at early 911 996 models, BMW M6s, M3s and many others. Spend 50k and you'll be very lucky to see 25k after 3 years IMO. Mind you, if we were that worried we'd all be driving Volvo XC90s and VW Golfs.
I spent £40k on my T350 after deciding I could swallow the fact that it would be worth 30k after 1 year, 25k after 2 years and 20k after 3 years. Sounds painful, but IMO thats realistic. And don't forget a 3 year warranty is all well and good IF the company is still around to claim on (hopefully won't be an issue!).
The main thing affecting residuals IMO is the number of people looking to buy. No buyers = no selling = those desperate to sell dropping the price lower and lower.
There are some great bargains out there for the buyer today!
I spent £40k on my T350 after deciding I could swallow the fact that it would be worth 30k after 1 year, 25k after 2 years and 20k after 3 years. Sounds painful, but IMO thats realistic. And don't forget a 3 year warranty is all well and good IF the company is still around to claim on (hopefully won't be an issue!).
The main thing affecting residuals IMO is the number of people looking to buy. No buyers = no selling = those desperate to sell dropping the price lower and lower.
There are some great bargains out there for the buyer today!
i agree with what targarama just said but you also have to look at the Sagaris being advertised at sub £40K thats a big hit in 12 months.
There is or was a T350 at a non TVR dealer for sub £20K and they were offering to get a full 12000 mile service by a TVR dealer .... that has to be a bargain.
i am looking for a Sagaris but what will happen with the prices towards the end of the year when the Winter blues hit the prices even further?
There is or was a T350 at a non TVR dealer for sub £20K and they were offering to get a full 12000 mile service by a TVR dealer .... that has to be a bargain.
i am looking for a Sagaris but what will happen with the prices towards the end of the year when the Winter blues hit the prices even further?
Agreed all round - I am thinking about picking up a bargain M3 for that reason.
And of course, we wouldn't be buying these cars if it was THAT important to us. However, I have a fairly hefty balloon on mine that I need to keep an eye on!! I do think the no buyer = no selling = lower prices is the reason for much of this.
Going forward, can we really expect a 3 year old T350 to be worth <£20k? That just doesn't seem right to me. That is not the case with the Tuscan is it? And that has been replaced by a newer model?
And of course, we wouldn't be buying these cars if it was THAT important to us. However, I have a fairly hefty balloon on mine that I need to keep an eye on!! I do think the no buyer = no selling = lower prices is the reason for much of this.
Going forward, can we really expect a 3 year old T350 to be worth <£20k? That just doesn't seem right to me. That is not the case with the Tuscan is it? And that has been replaced by a newer model?
Well, when I sold my 03 plate T350 in Decemeber, it had 20k on the clock & the best I got offered was circa £22k.
Not even 3 years old.
3 offers I revieced:
First, against a 45k Boxster'S', £21,500
Second, against a 20k Nissan Navara pickup, £22,000
Lastly, against a 47k Tuscan S, £21,000
Not even 3 years old.
3 offers I revieced:
First, against a 45k Boxster'S', £21,500
Second, against a 20k Nissan Navara pickup, £22,000
Lastly, against a 47k Tuscan S, £21,000
trade in prices are always a kick in the b***s though,arent they?
i do think prices for many marques are a bit low but nice,good cars will usually find a buyer.
if you are spending over £20k wouldn't you sooner spend an extra grand or so for a nice car rather than a tatty 'bargain'?
for me cars such as M3's ought to be a bit cheaper than tiv's because they are so common.(nice though)
this is my 4th TVR and they have all been pretty good to me come resale time,the worst was my tuscan which i lost £2.5k on in six months.
mike.
i do think prices for many marques are a bit low but nice,good cars will usually find a buyer.
if you are spending over £20k wouldn't you sooner spend an extra grand or so for a nice car rather than a tatty 'bargain'?
for me cars such as M3's ought to be a bit cheaper than tiv's because they are so common.(nice though)
this is my 4th TVR and they have all been pretty good to me come resale time,the worst was my tuscan which i lost £2.5k on in six months.
mike.
When I part exed my 6 month old, £21K from new TF160, they were at the height of their popularity, and I had all the best options on it too. I got around £13K for it against a Chim 450, and that was by far the best offer I got! (bit galling initially, thinking you're driving in a new model £20K sportscar, and then realising it's worth, in reality, no more than a medium spec family hatchback!)
Doesn't matter what car it is, you will lose a lot of money when buying from new - it's something I swore I'd never do again.
Doesn't matter what car it is, you will lose a lot of money when buying from new - it's something I swore I'd never do again.
targarama said:
Residuals and TVRs ... nasty topic. All sports cars seem to be suffering at the moment - look at early 911 996 models, BMW M6s, M3s and many others. Spend 50k and you'll be very lucky to see 25k after 3 years IMO. Mind you, if we were that worried we'd all be driving Volvo XC90s and VW Golfs.
I spent £40k on my T350 after deciding I could swallow the fact that it would be worth 30k after 1 year, 25k after 2 years and 20k after 3 years. Sounds painful, but IMO thats realistic. And don't forget a 3 year warranty is all well and good IF the company is still around to claim on (hopefully won't be an issue!).
The main thing affecting residuals IMO is the number of people looking to buy. No buyers = no selling = those desperate to sell dropping the price lower and lower.
There are some great bargains out there for the buyer today!
Good points Targamara. I bought my T350 new on this basis too. If the residuals cover the balloon on a trade-in at 3 years, I'm happy. Happy but not delighted though! Is TVR Warranty wholly owned by TVR Engineering? So if TVR fold, the warranty is just paper? Maybe there's another thread on this. Be worth knowing how much risk we are all carrying.
sideways mostly said:
At least we don't run 6 Series Bimmers- £12-15k in 6 months-Autocar last week.
I seen that too! I think part of the problem with TVR's is that they look so damn great, and that is never reflected in the price, sometimes it's hard to define a TVR as 'just another car', and it's shocking to see such a great looking car depriciate the same as any other car!BMW M3s are taking a pasting because of the OUTRAGEOUS warranty hike. Are you listening BMW? I would eventually have bought an M3 CSL to replace my 996, but with warranties at almost £2k pa over 60k miles they can take running jump!!
As far as I can see 996s are taking a hit because of the 997 and becuase of the unnecessary mass hysteria over early engines, which is something the TVR Speed Six owner suffers from even more. I reckon the market is splitting into two - good cars with OPC warranties holding their monet quite well, and tatty dog eared cars with no warranty bombing.
T350s are a specialist car, and they do have a reputation as needing care and a little money to keep, so I suspect people are wary. I would love a T350 but I am just too scared of losing a mint if an engine goes and the warranty is inadequate.
>> Edited by Vesuvius 996 on Tuesday 2nd May 18:01
>> Edited by Vesuvius 996 on Tuesday 2nd May 18:02
As far as I can see 996s are taking a hit because of the 997 and becuase of the unnecessary mass hysteria over early engines, which is something the TVR Speed Six owner suffers from even more. I reckon the market is splitting into two - good cars with OPC warranties holding their monet quite well, and tatty dog eared cars with no warranty bombing.
T350s are a specialist car, and they do have a reputation as needing care and a little money to keep, so I suspect people are wary. I would love a T350 but I am just too scared of losing a mint if an engine goes and the warranty is inadequate.
>> Edited by Vesuvius 996 on Tuesday 2nd May 18:01
>> Edited by Vesuvius 996 on Tuesday 2nd May 18:02
[quote=Vesuvius 996]As far as I can see 996s are taking a hit because of the 997 and becuase of the unnecessary mass hysteria over early engines, which is something the TVR Speed Six owner suffers from even more.
quote]
Unnecesarry mass hysteria on Pistonheads over the Speed Six-surely not?
quote]
Unnecesarry mass hysteria on Pistonheads over the Speed Six-surely not?
I agree with all that has been said. My only concern is, and i hope its not remotely connected with the current slump in sales and the glitch that TVR are having is that how can a two year old speed six TVR be worth almost the same money as an old school 5 year old Griff or Cerb. When i bought my T350 residuals were not this poor.
Perhaps as Mr average has all but doe with a performance toy. I mean it was not that long ago that a spirited drive on a Sunday was just as it said on the tin. Nowadays the traffic at best in the South is reduced to a dawdle owing to the volume and the risk of interruption to one fun by a piece of circa Blair roadside furniture is an ever increasing risk. Perhaps the demand just is not there any more
I guess its the same for Noble ( not much wrong there but 20K baths in 18 months) Porsche ( My Mate 10k in one year on an 03 C4S )
On a positive note TVR are fabulous cars but i doubt i would go the new route again looking at all the bargains that are about at the moment. 2008 LS7 Sagi for me!!
Perhaps as Mr average has all but doe with a performance toy. I mean it was not that long ago that a spirited drive on a Sunday was just as it said on the tin. Nowadays the traffic at best in the South is reduced to a dawdle owing to the volume and the risk of interruption to one fun by a piece of circa Blair roadside furniture is an ever increasing risk. Perhaps the demand just is not there any more
I guess its the same for Noble ( not much wrong there but 20K baths in 18 months) Porsche ( My Mate 10k in one year on an 03 C4S )
On a positive note TVR are fabulous cars but i doubt i would go the new route again looking at all the bargains that are about at the moment. 2008 LS7 Sagi for me!!
I have had quite a few cars over the last 2 years. I am afraid to say that they have on average only stayed 4 months. Here are some examples.
Subaru Impreza WRX Wagon Cost £22K traded in for £17K (4 months old)
Nissan Navara Pickup Cost £17K traded in for £13K (4 months old)
Porsche Boxster Cost £35K traded in for £27K, but received bids ranging from £24-£25K (4 months old)
Subaru Legacy Spec B Cost £27K traded in for £17K (4 months old)
BMW M3 Cost £7K traded in for £26.5K (Car was used and 2 years old)
Mercedes C220 CDI Sport Cost £30K traded in for £21K (4 months old)
TVR Tamora Cost £37K traded in for £29K, but received bids as low as £24K (4 months old)
Subaru Impreza WRX Wagon Cost £22K traded in for £17K (4 months old)
Nissan Navara Pickup Cost £17K traded in for £13K (4 months old)
Porsche Boxster Cost £35K traded in for £27K, but received bids ranging from £24-£25K (4 months old)
Subaru Legacy Spec B Cost £27K traded in for £17K (4 months old)
BMW M3 Cost £7K traded in for £26.5K (Car was used and 2 years old)
Mercedes C220 CDI Sport Cost £30K traded in for £21K (4 months old)
TVR Tamora Cost £37K traded in for £29K, but received bids as low as £24K (4 months old)
CatherineJ said:
I have had quite a few cars over the last 2 years. I am afraid to say that they have on average only stayed 4 months. Here are some examples.
Subaru Impreza WRX Wagon Cost £22K traded in for £17K (4 months old)
Nissan Navara Pickup Cost £17K traded in for £13K (4 months old)
Porsche Boxster Cost £35K traded in for £27K, but received bids ranging from £24-£25K (4 months old)
Subaru Legacy Spec B Cost £27K traded in for £17K (4 months old)
BMW M3 Cost £7K traded in for £26.5K (Car was used and 2 years old)
Mercedes C220 CDI Sport Cost £30K traded in for £21K (4 months old)
TVR Tamora Cost £37K traded in for £29K, but received bids as low as £24K (4 months old)
Don't take this the wrong way, but do you enjoy throwing money down the drain? Thats a lot of spondulies in 2 years. I change my underpants less often.
They should have paid you to run a Navarra too, not the other way round
Prof Pat Pending said:Not sure about the Cerb, but the Griff & Chim benefit from already having a network of suppliers, particularly on the engine side, who are completely independant of TVR. The resale of T350's along with Tuscans etc is very much tied in to the fortunes of the factory at the moment. No TVR and the three year warranty is worth as much as the paper its written on.
... My only concern is, and i hope its not remotely connected with the current slump in sales and the glitch that TVR are having is that how can a two year old speed six TVR be worth almost the same money as an old school 5 year old Griff or Cerb. ...
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