Car depreciation

[ab5]

For my second car I've decided I'd like to get an MG3 (I know this is probably seen as a bad car by a lot of people but I've test driven one and really liked it!) When looking round a garage the sales guy suggested trying one and I was really pleasantly surprised as I'd never really heard of them before, the only thing is the cheapest ones are on sale for about £4000 which is about £1000 more than I was originally thinking of spending (as they're 2013 onwards which is a newer age range than I was originally looking at).

The car I've got at the moment needed £600 of repairs to get it through its mot, with the garage saying it might not last much longer anyway, my question is if I repaired my current car and carried on driving it for a year or two how much do you think the MG3 (or cars in general) would depreciate in that time?? I know you can't really predict it but I'm trying to work out if they'd be significantly cheaper and whether it would be worth waiting!
Thanks

[Deep Thought]

ab5 said:

For my second car I've decided I'd like to get an MG3 (I know this is probably seen as a bad car by a lot of people but I've test driven one and really liked it!) When looking round a garage the sales guy suggested trying one and I was really pleasantly surprised as I'd never really heard of them before, the only thing is the cheapest ones are on sale for about £4000 which is about £1000 more than I was originally thinking of spending (as they're 2013 onwards which is a newer age range than I was originally looking at).

The car I've got at the moment needed £600 of repairs to get it through its mot, with the garage saying it might not last much longer anyway, my question is if I repaired my current car and carried on driving it for a year or two how much do you think the MG3 (or cars in general) would depreciate in that time?? I know you can't really predict it but I'm trying to work out if they'd be significantly cheaper and whether it would be worth waiting!
Thanks

As a rough rule of thumb i use the "50% every three years" rule. Probably after 2 years its going to be worth £2,500 if its worth £4,000 now and assuming it would be worth £2,000 in three years time.

[ahenners]

Same as above, expect roughly 50% every 3 years and any extra is a bonus.

[ab5]

Deep Thought said:

As a rough rule of thumb i use the "50% every three years" rule. Probably after 2 years its going to be worth £2,500 if its worth £4,000 now and assuming it would be worth £2,000 in three years time.

ahenners said:

Same as above, expect roughly 50% every 3 years and any extra is a bonus.

Thanks for your help sounds like it's probably worth waiting a bit then