Part ex Low value of 57 plate ES

eighteentee · 1st February 2008, 22:35

Just been wondering about trading in my 57 plate ES in favour of an EX or Type R. In November I paid just shy of £17k for my ES. I've done 3,800 miles and now it's worth £13k - does this seem bad to anyone else other than me?

civicb0y · 2nd February 2008, 00:16

After what I was offered for my Octavia to buy a Type S GT I'm not suprised. Any marks, dings, scuffs, fluff, dust or dirt and they'll class it as below poor and offer you a poor part ex. Glass value a 07 plate with same miles at £14050 if in excellent condition, so to me 13k is very low, as yours must be excellent being on a 57 plate. I'd say £14500 would be fair if it top condition and thats still a £2500 loss in 3 months.

eighteentee · 2nd February 2008, 00:21

Yeah I have to admit I am a little gutted to be brutally honest. I thought re-sale value on these motors was generally quite high - clearly I was wrong.

My car is 'mint' not a scratch or mark on it. I'd have thought somewhere upwards of £14k would have been more like it.

jazzman · 2nd February 2008, 01:25

Quote:

Originally Posted by eighteentee

Just been wondering about trading in my 57 plate ES in favour of an EX or Type R. In November I paid just shy of £17k for my ES. I've done 3,800 miles and now it's worth £13k - does this seem bad to anyone else other than me?

Of course you will appear to lose a lot in the first year or in your case the first three months, residuals are usually worked out over a 3 year period. as an example had I traded my previous car a Jazz in the first year I would have lost about 20% but as I traded it in after 4 years I actually only lost 38%.
The moral nowdays is if you buy a car you have to keep it a reasonable period of time to make it financially viable. Sorry mate, that`s how it works you have to buy the right one to start with

Pottsy · 2nd February 2008, 07:34

Jazzman is right. Bear in mind what you would pay for your car from a dealer, and then subtract £1,500. ES's are now being discounted, so if new is 16K, just-new is £14.5k, so PX is 13k. Personally, I'd try a private sale with a car like that - or maybe a different dealer who could "place" your car better (maybe he has a customer on his books looking for a car like yours - it often happens).

Munro · 2nd February 2008, 07:43

Why not advertise it on civinfo with pictures ?

Remember your car is still under manufactures warranty so it is a reasonably safe and attractive buy for a private buyer. The buyer will also get a great saving over new.

You and the buyer could split the difference on the dealers fee for overhead and profit margin!

ritchie_perriam · 2nd February 2008, 12:43

i suppose that is the trouble with buying new cars, they loose a lot of value for just driving out the showroom.

Charles_Harding · 2nd February 2008, 13:01

Maybe the stealers are looking at this site and reckon 'cos of all the complaints from Topcat, they might have trouble shifting it!

"Lady H. has a black belt in both karate and cooking.
She could kill you either way!"

pcr · 2nd February 2008, 13:58

I'm not so sure, Topcat's car must be ideal --- low mileage, one careful lady owner.

Charles_Harding · 2nd February 2008, 14:07

Quote:

Originally Posted by pcr

I'm not so sure, Topcat's car must be ideal --- low mileage, one careful lady owner.

......full service details!!!

"I wouldn't say that I went to a tough school,
But one of my essays was 'What I'm Going To Be If I Grow Up'!"

Dalboy · 2nd February 2008, 14:11

[quote=Charles_Harding;142115]......full service details!!!

I think they might lose some of them

Charles_Harding · 2nd February 2008, 14:50

[quote=Dalboy;142118]

Quote:

Originally Posted by Charles_Harding

......full service details!!!

I think they might lose some of them

......but those fist marks on the dashboard!

"At my age flowers scare me!"

illegalhunter · 2nd February 2008, 18:13

I lost £4000 in 3 months on my Cooper S

SHADEMASTER · 2nd February 2008, 19:04

Quote:

Originally Posted by illegalhunter

I lost £4000 in 3 months on my Cooper S

Ouch!
This really makes you wonder why some cars lose more than others,
My brother sold his Skoda Fabia VRS last year and lost £3500 in 3 years,
I lost £13000 on my RX8 in the same time period.

Dimplyred · 2nd February 2008, 19:06

Quote:

Originally Posted by SHADEMASTER

Ouch!
This really makes you wonder why some cars lose more than others,
My brother sold his Skoda Fabia VRS last year and lost £3500 in 3 years,
I lost £13000 on my RX8 in the same time period.

Ouch!!!

Pottsy · 2nd February 2008, 19:06

I (well luckily not me but the company I worked for) lost £24,000 on an M3 in 14 months.

madasadad · 2nd February 2008, 20:20

I was going to start a thread entitled "Bye Bye Civic...... nearly", but discovered the same harsh reality of owning a new car. My business area has recently changed and I'm now driving about 800 miles a week. My lovely, taut handling Civic has been doing my head in for about 4 weeks.
Long motorway journeys, crashing suspension (no different from when new, just spending a lot more time listening/ feeling it) can't conduct much business by mobile phone, cabin noise and suspension intruding too much. I decided to trade to a BMW 525d, yes boring compared to the Civic, but OOOH so comfey. Anyone who has complained about the comfort of runflat tyres has no concept of what road noise/cabin discomfort is!
Anyway, paid and financed £18100 for my beloved as speced below. Trade in value with 24k miles- £12050 by book, offered £13k against the BM. Finance outstanding, £16k, welcome to the land of vehicle negative equity. So the outcome, well if I didn't love my bloody car so much I could have justified, to myself but not the better half, having to finance an additional £3k on top of the price of the other car. As it has transpired, BM stays at dealers and I will HAVE to keep the Civic for another year or 2. Not the worst outcome, but overall gutted by the freefall depreciation in 9 months.

NH Dan · 8th February 2008, 17:52

Quote:

Originally Posted by eighteentee

Just been wondering about trading in my 57 plate ES in favour of an EX or Type R. In November I paid just shy of £17k for my ES. I've done 3,800 miles and now it's worth £13k - does this seem bad to anyone else other than me?

Even looking at the cost of a new ES with met paint, you are just sub 17k - @ £16,710. Now, assuming you didnt negotiate a stonking great 10% discount, there is just shy of £2,400 VAT in there. not going to the dealer, not yours, but to the good ol government. take that from your car price and you are around £14,300. less depreciation for mileage, the fact that there is now 1 owner on the log book as the car is no longer 'new' and £13k isnt such a bad shout. Without rubbing salt into the wound, it really is too soon to be changing your car without expecting to make a perceived significant loss.

Look at the situation from a slightly different angle. you may have not got a discount, i dont know but other people will have, so that £17k car isnt really £17k, its more like £15,500. the depreciation starts there, not at £17k, therefore the 1, 2, 3 value will be lower. If a new owner can by a car at a discount then the next owner will expect to get a better deal on a used, a bigger saving. Driving the price down at purchase is all well and good but it will obviously affect the residual value later on.

alanwalne · 26th February 2008, 13:00

Quote:

Originally Posted by NH Dan

Even looking at the cost of a new ES with met paint, you are just sub 17k - @ £16,710. Now, assuming you didnt negotiate a stonking great 10% discount, there is just shy of £2,400 VAT in there. not going to the dealer, not yours, but to the good ol government. take that from your car price and you are around £14,300. less depreciation for mileage, the fact that there is now 1 owner on the log book as the car is no longer 'new' and £13k isnt such a bad shout. Without rubbing salt into the wound, it really is too soon to be changing your car without expecting to make a perceived significant loss.

Look at the situation from a slightly different angle. you may have not got a discount, i dont know but other people will have, so that £17k car isnt really £17k, its more like £15,500. the depreciation starts there, not at £17k, therefore the 1, 2, 3 value will be lower. If a new owner can by a car at a discount then the next owner will expect to get a better deal on a used, a bigger saving. Driving the price down at purchase is all well and good but it will obviously affect the residual value later on.

One thing that really annoys me is when it is stated that you loose the VAT the second you drive out the door.

If that was the case, when a dealer sells a used car, he would have to pay VAT on the whole value of a used car, not just the difference between the buying price and the selling price. A car is worth what a car can be sold for less a margin for profit.

IMO saying a car looses the VAT the moment it drives out the door is just trying to sooth people's anguish at 1st year dep'n and completely false.

allan40alt · 26th February 2008, 14:29

My EX i-Shift with extras cost £19K and I then added leather interior at a cost of £1000.

Car is immaculate and only covered just over 5000 miles. Car has always been garaged. 18 months old.

Offer as PX ? £12500 .

1st February 2008, 22:35	#1 (permalink)
eighteentee Supporter Locking Wheelnut Join Date: 26th September 2007 Location: Clitheroe, UK Posts: 102 Thanks: 0 Thanked 0 Times in 0 Posts	Low value of 57 plate ES Just been wondering about trading in my 57 plate ES in favour of an EX or Type R. In November I paid just shy of £17k for my ES. I've done 3,800 miles and now it's worth £13k - does this seem bad to anyone else other than me?

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This thread is about: Low value of 57 plate ES, it's in Buying, Dealers and Servicing at the Honda Civic forum Civinfo; Just been wondering about trading in my 57 plate ES in favour of an EX or Type R. In November I paid just shy of ...

2nd February 2008, 00:16	#2 (permalink)
civicb0y Valve Cap Join Date: 11th October 2007 Posts: 21 Thanks: 0 Thanked 0 Times in 0 Posts	After what I was offered for my Octavia to buy a Type S GT I'm not suprised. Any marks, dings, scuffs, fluff, dust or dirt and they'll class it as below poor and offer you a poor part ex. Glass value a 07 plate with same miles at £14050 if in excellent condition, so to me 13k is very low, as yours must be excellent being on a 57 plate. I'd say £14500 would be fair if it top condition and thats still a £2500 loss in 3 months.

2nd February 2008, 00:21	#3 (permalink)
eighteentee Supporter Locking Wheelnut Join Date: 26th September 2007 Location: Clitheroe, UK Posts: 102 Thanks: 0 Thanked 0 Times in 0 Posts	Yeah I have to admit I am a little gutted to be brutally honest. I thought re-sale value on these motors was generally quite high - clearly I was wrong. My car is 'mint' not a scratch or mark on it. I'd have thought somewhere upwards of £14k would have been more like it.

2nd February 2008, 07:34	#5 (permalink)
Pottsy Administrator Civinfo guru Join Date: 10th April 2006 Location: Leics Posts: 4,772 Thanks: 7 Thanked 64 Times in 33 Posts	Jazzman is right. Bear in mind what you would pay for your car from a dealer, and then subtract £1,500. ES's are now being discounted, so if new is 16K, just-new is £14.5k, so PX is 13k. Personally, I'd try a private sale with a car like that - or maybe a different dealer who could "place" your car better (maybe he has a customer on his books looking for a car like yours - it often happens).

2nd February 2008, 07:43	#6 (permalink)
Munro Supporter Rocketship door handle Join Date: 10th August 2007 Location: Scotland Posts: 1,032 Thanks: 21 Thanked 16 Times in 12 Posts	Why not advertise it on civinfo with pictures ? Remember your car is still under manufactures warranty so it is a reasonably safe and attractive buy for a private buyer. The buyer will also get a great saving over new. You and the buyer could split the difference on the dealers fee for overhead and profit margin!

2nd February 2008, 12:43	#7 (permalink)
ritchie_perriam Tyre Shredder Triangular Exhaust Join Date: 30th November 2007 Location: guildford, surrey Posts: 277 Thanks: 0 Thanked 1 Time in 1 Post	i suppose that is the trouble with buying new cars, they loose a lot of value for just driving out the showroom.

2nd February 2008, 13:01	#8 (permalink)
Charles_Harding Civinfo guru Join Date: 14th August 2006 Location: S.E. London Posts: 2,820 Thanks: 37 Thanked 6 Times in 6 Posts	Maybe the stealers are looking at this site and reckon 'cos of all the complaints from Topcat, they might have trouble shifting it! *"Lady H. has a black belt in both karate and cooking.* *She could kill you either way!"*

2nd February 2008, 13:58	#9 (permalink)
pcr Magic Rear Seat Join Date: 5th September 2006 Location: Shropshire Posts: 842 Thanks: 0 Thanked 1 Time in 1 Post	I'm not so sure, Topcat's car must be ideal --- low mileage, one careful lady owner.

2nd February 2008, 14:11	#11 (permalink)
Dalboy Supporter Triangular Exhaust Join Date: 21st January 2007 Location: Worcestershire Posts: 343 Thanks: 0 Thanked 0 Times in 0 Posts	[quote=Charles_Harding;142115]......full service details!!! I think they might lose some of them

2nd February 2008, 18:13	#13 (permalink)
illegalhunter Supporter Civinfo guru Join Date: 10th May 2007 Location: In the woods armed to the teeth Posts: 2,114 Thanks: 2 Thanked 13 Times in 13 Posts	I lost £4000 in 3 months on my Cooper S

2nd February 2008, 19:06	#16 (permalink)
Pottsy Administrator Civinfo guru Join Date: 10th April 2006 Location: Leics Posts: 4,772 Thanks: 7 Thanked 64 Times in 33 Posts	I (well luckily not me but the company I worked for) lost £24,000 on an M3 in 14 months.

2nd February 2008, 20:20	#17 (permalink)
madasadad Supporter Triangular Exhaust Join Date: 21st February 2007 Location: Carrickfergus Posts: 272 Thanks: 0 Thanked 0 Times in 0 Posts	I was going to start a thread entitled "Bye Bye Civic...... nearly", but discovered the same harsh reality of owning a new car. My business area has recently changed and I'm now driving about 800 miles a week. My lovely, taut handling Civic has been doing my head in for about 4 weeks. Long motorway journeys, crashing suspension (no different from when new, just spending a lot more time listening/ feeling it) can't conduct much business by mobile phone, cabin noise and suspension intruding too much. I decided to trade to a BMW 525d, yes boring compared to the Civic, but OOOH so comfey. Anyone who has complained about the comfort of runflat tyres has no concept of what road noise/cabin discomfort is! Anyway, paid and financed £18100 for my beloved as speced below. Trade in value with 24k miles- £12050 by book, offered £13k against the BM. Finance outstanding, £16k, welcome to the land of vehicle negative equity. So the outcome, well if I didn't love my bloody car so much I could have justified, to myself but not the better half, having to finance an additional £3k on top of the price of the other car. As it has transpired, BM stays at dealers and I will HAVE to keep the Civic for another year or 2. Not the worst outcome, but overall gutted by the freefall depreciation in 9 months.

26th February 2008, 14:29	#20 (permalink)
allan40alt Supporter Civinfo guru Join Date: 6th August 2006 Location: Rugby, Warwickshire. Posts: 2,142 Thanks: 6 Thanked 27 Times in 26 Posts	My EX i-Shift with extras cost £19K and I then added leather interior at a cost of £1000. Car is immaculate and only covered just over 5000 miles. Car has always been garaged. 18 months old. Offer as PX ? £12500 .