Duvetday wrote: ↑Sat Dec 02, 2023 9:26 am
To what extent do you think the current massive drop in prices is seasonal ?....I might sell my convertible in the spring...do you think any hope of a rebound by then ?
Who knows? Depends why you are selling too - if just selling for cash then the higher price matters but if you are trading in for something else you might find the “cost to change” won’t change much.
But as a general rule you’ll probably get more for your car (as it’s a convertible) in Spring rather than now.
2019MY F-Type SVR - for fun
2019MY F-Pace SVR - for family duties
Duvetday wrote: ↑Sat Dec 02, 2023 9:26 am
To what extent do you think the current massive drop in prices is seasonal ?....I might sell my convertible in the spring...do you think any hope of a rebound by then ?
It's very hard to say. A correction was always coming with interest rates what they are now and there is usually a bit of a delay before they really start effecting things. Couple that with all time high prices for used cars and the new market recovering... I wouldn't hold my breath. I suspect these price drops might cut deep for a while. There will be a seasonal element to it I'm sure as this time of year is the worst for trying to sell anything big ticket like cars and houses. It might more be about speed of sale rather than actual value though.
I think it'll all come down to what BCA/WBAC decide as they hold all the power over the used market. A slow market suits them better as it means they can get away with more lowballing a desperation plays.
When I started this thread I was only checking WBAC for general interest. My attitude the last year or so has been that I'm still enjoying the car and cash was depreciating more than the value of an Ftype. Not any more it seems...while WBAC migth be 'right sizing' and some might say low balling there does seem to have been a significant shift in the wider market....and sods law I had since decided I am up for a change in the new year to something a bit more ordinary, practical and release a bit of cash.
Maybe I'll need to hold on to it longer now. What a hardship !
Duvetday wrote: ↑Sat Dec 02, 2023 6:09 pm
When I started this thread I was only checking WBAC for general interest. My attitude the last year or so has been that I'm still enjoying the car and cash was depreciating more than the value of an Ftype. Not any more it seems...while WBAC migth be 'right sizing' and some might say low balling there does seem to have been a significant shift in the wider market....and sods law I had since decided I am up for a change in the new year to something a bit more ordinary, practical and release a bit of cash.
Maybe I'll need to hold on to it longer now. What a hardship !
There is a shift in the market sure, as said, interest rates bla bla bla... but WBAC is the biggest entity responsible for that. WBAC, which is part of BCA, they basically set the price and everyone else follows.
They'll have a great understanding of current sales and the accuracy of what cars are worth, but along with that they can manipulate the market and business decisions such as right sizing have wider impact outside of their own business.
I just had a look at WBAC for the lols and they are actually offering me a very reasonable £22,865 now 42% drop in value in 7 months... mmm sure... okay.
Does make you wonder if it’s worth buying a new car with the depreciation curve most if not all cars have now. It is worse than it was precovid. I bought mine 2 years old from a main dealer at 56k (new list was 89k)it was up for £58.5 with WBAC offering a price t that time of 51k. Move forward 7 months and I’m offered 34k. I would have been better having it used on a pcp at this rate rather than paying cash.
The current purchase cost and subsequent depreciation of any similar convertible (such as a V8 Vantage with old Merc tech) would be a financial disaster.
And you have to consider if you are buying an F as a nice means of transport or a wonderful life experience and therapy.
In my case my 6.5 years of ownership have cost me about £17k in depreciation - or £218 a month, and reducing gradually.
More to the point I’ve enjoyed the car properly, putting 60k miles on it in that time and looking forward to further continental trips next year. This works out at 28p per mile, which I’m more than content with.
Sure I would love a shiny new Vantage - especially with the imminent interior update - but there’s only so much smiling you can do, so my F will continue to do very nicely thank you.
MY14 "S" badged V6 Convertible in Lunar Grey metallic
Performance seats, Meridian, heated flat bottom wheel with aluminium paddles, heated front screen, cruise, dual zone climate, switchable active exhaust
Lunar wrote: ↑Sun Dec 03, 2023 8:24 am
The current purchase cost and subsequent depreciation of any similar convertible (such as a V8 Vantage with old Merc tech) would be a financial disaster.
And you have to consider if you are buying an F as a nice means of transport or a wonderful life experience and therapy.
In my case my 6.5 years of ownership have cost me about £17k in depreciation - or £218 a month, and reducing gradually.
More to the point I’ve enjoyed the car properly, putting 60k miles on it in that time and looking forward to further continental trips next year. This works out at 28p per mile, which I’m more than content with.
Sure I would love a shiny new Vantage - especially with the imminent interior update - but there’s only so much smiling you can do, so my F will continue to do very nicely thank you.
Given current market dynamics I think you are probably right. I had a Z4 for 9 years, not to save any money...I just enjoyed it and once day realised I had had it for 9 years. And as you say, over that time the running and depreciation costs average out to very little.
But I think it was watching a JayEmm vid the other day about lifetime service and repairs on a Maserati that got me worried and thinking of a change as the bills started coming in thick and fast from about year 4 to 18. While I am happy to take the depreciation and service costs of the FType I'm not sure I am as enthusiastic as I once might have been to start taking on lots of repair bills now that is is about 5 years old (nothing yet though...touch wood !)
That’s the rub - with the vicious potholes and sometimes poor driving / parking standards out there getting hold of one random part is going to get harder.
At least with current JLR supply chain problems they’ve been good enough to prepare us
Second hand parts are going to become a useful alternative in certain cases, as with any discontinued vehicle.
MY14 "S" badged V6 Convertible in Lunar Grey metallic
Performance seats, Meridian, heated flat bottom wheel with aluminium paddles, heated front screen, cruise, dual zone climate, switchable active exhaust
Duvetday wrote: ↑Sat Dec 02, 2023 9:26 am
To what extent do you think the current massive drop in prices is seasonal ?....I might sell my convertible in the spring...do you think any hope of a rebound by then ?
Duvetday wrote: ↑Sat Dec 02, 2023 9:26 am
To what extent do you think the current massive drop in prices is seasonal ?....I might sell my convertible in the spring...do you think any hope of a rebound by then ?
42% drop in value in 7 months... mmm sure... okay.
