Dropping like a stone

I had an issue with my trade in as well. They said my Nissan Leaf had devalued even more than they expected when I ordered my MG4 in January. I told them to cancel the order and refund me as that was an option given. A couple of hours later, the manager called and said they would honour the original price, collected my MG4. SE LR last Tuesday and love it.
 
WoodhornWolf said:
I had an issue with my trade in as well. They said my Nissan Leaf had devalued even more than they expected when I ordered my MG4 in January. I told them to cancel the order and refund me as that was an option given. A couple of hours later, the manager called and said they would honour the original price, collected my MG4. SE LR last Tuesday and love it.
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Chanced their luck and failed
 
WoodhornWolf said:
I had an issue with my trade in as well. They said my Nissan Leaf had devalued even more than they expected when I ordered my MG4 in January. I told them to cancel the order and refund me as that was an option given. A couple of hours later, the manager called and said they would honour the original price, collected my MG4. SE LR last Tuesday and love it.
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You struck gold there! We're having issues with part ex. values going down a lot but the dealer doesn't seem to be in any rush to stick to the original valuation, which I guess means they have a number of people ready and waiting for the same order. We're going to try again tomorrow but I really fear the deal will be off 😔
 
chelsea56 said:
you will not loose £12000 a year on your trouphy will you as after 3 years it will be a minus figure. No £30000 ev will consistently loose a £ 1000 a month. Yes it may have lost £1000 one month but it’s a blip and he’s panicking. I was in the motor trade for 40 years in sales so I have a good idea on the subject.
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My past vehicle history going back years would say otherwise. 1st year depreciation can be heavy.

1983 metro (i said it covers years!) new 3700 sold because of company car 9 months later back to dealer 2300.

2004 6 month old 6,000 mile demonstration Laguna Estate. 18000 new. 12000 when i bought at 6 months old.

2014 10 month old Toyota GT86. 26000 new, 18500 with 9k miles on it.

I think losing 30% in year 1 isn’t particularly extraordinary
 
stevegus said:
My past vehicle history going back years would say otherwise. 1st year depreciation can be heavy.

1983 metro (i said it covers years!) new 3700 sold because of company car 9 months later back to dealer 2300.

2004 6 month old 6,000 mile demonstration Laguna Estate. 18000 new. 12000 when i bought at 6 months old.

2014 10 month old Toyota GT86. 26000 new, 18500 with 9k miles on it.

I think losing 30% in year 1 isn’t particularly extraordinary
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We are talking about Evs not cars from up to 30 years ago demonstrators has 20% discount from manufacture for a start
 
I was offered £5000 as part exchange for my 12 year old 2.0 litre diesel Focus with the proviso that when the MG4 arrived it would have to be renegotiated because the lead time was so long. In effect they'd offer whatever you asked for as when the time came and you were stood in front of your shiny new car that you'd been waiting 6 months for you'd agree to anything they offered.

Fortunately for me my local independent garage who'd serviced my cars for nearly 20 years offered to buy it for his daughter for the original part exchange price despite it needing 4 new tyres which no doubt the dealer would have knocked another few hundred pounds off for.
 
Ian Key said:
I was offered £5000 as part exchange for my 12 year old 2.0 litre diesel Focus with the proviso that when the MG4 arrived it would have to be renegotiated because the lead time was so long. In effect they'd offer whatever you asked for as when the time came and you were stood in front of your shiny new car that you'd been waiting 6 months for you'd agree to anything they offered.

Fortunately for me my local independent garage who'd serviced my cars for nearly 20 years offered to buy it for his daughter for the original part exchange price despite it needing 4 new tyres which no doubt the dealer would have knocked another few hundred pounds off for.
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This wasn't my experience - as I have said before, my part ex went up considerably in the final deal. Given the volatility of the second hand market I think it is fair for dealers to take this approach and if you are armed with valuation data, you should know whether your p/e has gone up or down so you can challenge the dealer with your evidence and go elsewhere because you know what price you can achieve (as indeed you did).

I am sure there are unscrupulous dealers who use this as a tactic but not all are like that.
 
No I am not panicking I also was in the trade for 30+ years but I don't know of an occasion when s/h prices dropped so agresivley, to potentially drop by £18,000 (56%) in 18 months is an unknown to me perhaps you know different. I am not panicking as I have no need to sell at this price and you are quite correct in saying that it cannot keep reducing by £1,000 per month but I will only lose money if I sell it, which i am quite happy to not do.
 
chelsea56 said:
We are talking about Evs not cars from up to 30 years ago demonstrators has 20% discount from manufacture for a start
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You expect a dealer (as supposedly an industry insider) to pass that on at sale time?🤣🤣🤣

If you are restricting your comments to evs then your many years of experience wont necessarily reflect modern ev sales depreciation.

Any car takes a massive hit in year one, not in the least because the dealer you sell it to wants their resale margin. Which in itself is at least 15-20%.
 
stevegus said:
You expect a dealer (as supposedly an industry insider) to pass that on at sale time?🤣🤣🤣

If you are restricting your comments to evs then your many years of experience wont necessarily reflect modern ev sales depreciation.

Any car takes a massive hit in year one, not in the least because the dealer you sell it to wants their resale margin. Which in itself is at least 15-20%.
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No it’s not just Evs and most dealers don’t have 20% mark on on used vehicles after costs it’s about 10% on average priced cars
 
tsedge said:
The MGFV for our Trophy after 4 years / 40,000 miles is £16.5k. I have no idea what they will be selling for in 4 years time but if it is peanuts, we'll hand the keys back and move on. If it is worth more, that's great and we may well keep it a lot longer.

All the indicators I have seen is that EVs will plunge in price at some point as they are fundamentally cheaper to make at scale (once manufacturers have converted/built new plants and ramped up). The question is whether that is 2-3 years away or 5-10. Tesla say their next generation will be 50% cheaper to make, but when will it be available in the UK, could be another 3 years.
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tsedge; agreed all points. One factor maybe we aren't considering adequately is the rapid evolution of battery tech vs investment costs for multi-million production-scale 'gigapresses' that may only have a run-to-obsolescence of two-ish years. When the next 'hyper' battery tech reaches adequate Systems Readiness level (as against Technology Readiness, which always leads by some time), depending on it's initial affordability - as we know, usually new/high tech is premium-priced initially - all the 'old' , now unfashionable stuff loses value (over) dramatically. As us lot here are only too aware, ev's are firmly in this rapid evolution zone. I'll happily wager that in 2035 we'll laugh at the daft prices being paid today for current European ev's...

Just back from trying to catch the large fluffy white new-to-neighbourhood cat that i chased under the mg4 - wanted to see if it had a 'Poole harbour' oil slick on it's back...

forgot: e.g. 2: VW; 'MEB' platform obsolete after 3 years (they were preparing to ditch it already, but the hit was too big to stomach...
 
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turntoport said:
When the next 'hyper' battery tech reaches adequate Systems Readiness level (as against Technology Readiness, which always leads by some time), depending on it's initial affordability - as we know, usually new/high tech is premium-priced initially - all the 'old' , now unfashionable stuff loses value (over) dramatically.
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BYD is about to launch their 80,000RMB ($11,600) Seagull car, with one spec having a 30kWh sodium-ion battery giving 300km range on China's test cycle.

www.arenaev.com

$11,600 BYD Seagull launches on April 18 with 305 km sodium-ion battery

BYD Seagull is the first electric car from the Chinese giant to come with the sodium-ion battery. Priced very aggressively and with further dealer discounts, the Seagull is poised to take the market by storm.
www.arenaev.com www.arenaev.com
 
WonkoTheSaneUK said:
BYD is about to launch their 80,000RMB ($11,600) Seagull car, with one spec having a 30kWh sodium-ion battery giving 300km range on China's test cycle.

www.arenaev.com

$11,600 BYD Seagull launches on April 18 with 305 km sodium-ion battery

BYD Seagull is the first electric car from the Chinese giant to come with the sodium-ion battery. Priced very aggressively and with further dealer discounts, the Seagull is poised to take the market by storm.
www.arenaev.com www.arenaev.com
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Wow, hadn't realised sodium ion was hitting the road already. 120 wh/kg ain't brilliant but it's sure to get better. The main thing is the change to sodium, no shortages or price spikes with that 🧂
 

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