V8V Depreciation

[Southwestdave]

Currently 2007 V8Vs seem to be losing approx £6k to £7k per year, at least they have in the last year. What is the view of this over the next one to two years, do people see that same level of depreciation continuing?

[Southwestdave]

Jockman said:

Dave, your posting is a wee bit muddled in that it is superimposing a straight line methodology over what is essentially a reducing balance depreciation. You would be better thinking in %s each year otherwise you will arrive at a value of zero which is unrealistic.

Even then a higher % is noticeable in the first few years (theoretically), levelling out to say 10% after a certain period of time, say 5 years or so.

Thus, I would suggest your scenario is about to hit a level depreciation and so no, £6k to £7k may not be constant but the % on the reduced balance may well be.

Off for me fry up now

Your right Jockman, I should have put things in the form of a percentage depreciation number. Just wondering if I had kept my car for another year or two what hit I would have taken. All will be revealed in the fullness of time I guess.


Boy could I eat a fry up right now, had to make do with some cornflakes

[Southwestdave]

Jockman said:

Best just to enjoy it I say

or bottle it like me and sell

[Southwestdave]

Jockman said:

Think of it this way Dave.

You could now buy your car back CHEAPER than your original payment for it.

And so depreciation has worked in your favour

Job's a good 'un. My work here is done.

Bacon and black pudding toastie for brunch methinks

Good way of looking at it, could buy back the car I just sold for £2.50 and a ballon on a stick if I wait long enough

Although less sure about the black pudding

[Southwestdave]

Jockman said:

I heard many years ago that the Quakers created cornflakes as a cure for masturbation, and that currently there is more nutritional value in the cardboard box than in the edible contents. Could be old wives' tales ?

Be better if you could fry them

That could explain a few things, there was me thinking it was the ageing process, when it was the cornflakes all along

[Southwestdave]

Jockman said:

Might I suggest Porridge as a reliable antidote ??

Porridge now ordered!

[Southwestdave]

krisdelta said:

Hi Dave,

You only realise depreciation if you sell ultimately there are a few factors in play:

1) if you buy at a dealer and sell private / sell to dealer - you'll lose the "spread" of retail to trade / private value without any miles going on the car.
2) The market at the moment is not a good place - if you look at all the sales in the last month (there have only been a handful looking at PH / AT) are all @ the £36-38k mark covering 2006/2007 cars with a good spec and warranty - big engined cars aren't shifting (my mint M3 took ages to shift and I had to drop my price significantly to get interest).
3) There is a shortage of credit, at a reasonable price.
4) Supply - there seem to be @ 280 V8V's for sale (incl roadsters) - I think a year ago there was around 50% less for sale.

What I mean is - why not keep the car? It's zero depreciation if you don't sell.

I can’t tell you how much I have gone round in my head as to which way to jump. The plan was always to keep the car a year and I went in with my eyes open, I knew I would take a hit when I sold (although it was still bigger than I anticipated).

Having said all that, would not change a thing about buying the car. I paid top money as bought from a dealer as like many people I needed a level of reassurance when buying such a car. In some ways that proved to be the right approach.

Suspect I might live to regret selling now and perhaps should have kept it for another year or two. But the deal is done so I need to start looking around for something fun, but cheaper. Lotus Elise is on the shopping list amongst other things.

[Southwestdave]

Tyson1980 said:

I'm currently shopping around for one as a weekend car.

They seem to be excellent value for money....

Do you mean shopping for an Elise or Aston?

[Southwestdave]

krisdelta said:

So you've already sold? That's good news in the current climate

Elise's are fun - except for the falling in / crawling out business! Cracking drive.

Yes, had no problem selling it via Pistonheads, although priced it to sell really, I think you can kid yourself that you are going to get more. There are a lot of cars out there being advertised at prices they are not going to get, many way too close to main dealer prices.

The Elise is on the possible next car list (although take the point about getting in and out). I was also looking at a BMW Z4M. None are a match for the Aston in many ways, but want something fun, but cheaper to run. It will replace the Aston and our MX5 (have been running three cars, which is just daft).

[Southwestdave]

shunt said:

Dave,

I came from a Z4MCoupe to the V8V, great fun car with plenty of power. Unless you're opting out of a main dealer network it won't be much cheaper to run - although they should have lost all the money they can by now. Bargain to buy not so to run. At 4+ years old now I'd explore the indi servicing route.

That is something I do need to watch out for, no point selling the Aston (which I love) to then be hit with bills that are similar, although as you say the depreciation must have slowed right down on the Z4M.