Just come back from America and put car up for sale and now getting £18999 so that’s where I’m getting my figures from. MG deals and on deals so you put your MG4 up for sale, see how much you can get on it? Who are the dealers on the forum then???
I'm not interested in selling my MG4, I love it. I'm on a PCP with an MGFV of £16,250 after 4 years and 40,000 miles, so the depreciation isn't an issue as I can hand it back if the car is worth less - the finance company take the depreciation risk.
But, since you ask, the cheapest MG4 LR Trophy on Autotrader right now is £21,975. There's a bunch of year old ones around the £23,000 mark, which is more typical, and younger ones well above that.
If you take 25% off £31,500 you get £23,625. So the values are roughly as I stated and the same as the average for any year-old car from any make.
Now, that's not the same as a dealer will offer you - since they need to make a profit on the sale and have to add the costs of their overheads, a service, marketing, VAT and anything that might need doing that hasn't been disclosed (people often change a relatively new car when it has a fault and they tend not to disclose it).
So when selling a year old car to a dealer you'll likely not get more than £20-21k. As I said, you'd want to sell it privately to get the best price.
£18,999 sounds a bit low for yours, but probably what one of the big "we'll buy your car" secondhand companies would offer - they tend to offer less than the average dealer but are also less choosy, people like them because there's less hassle and haggling, but you're paying for it in the price you're given.
If you don't want to lose money in depreciation your options are as follows:
- Don't buy a new car (by far the best option, run an old car into the ground).
- Hang on to your new car for a long time (ie don't sell after 6 or 12 months), and then it slows down.
- Use a PCP with a decent MGFV or lease it and then it is somebody else's problem.