How low can they go?

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Wed 8 Jan 2003 20:42
How low can they go? - memyself-aye
Having just sold our 1993 - 'k' reg Mazda 323 (full service history, full mot only £65k miles -ok, naff repair on dented front wing and crack in headlamp unit)after 3 months of trying.Advertised at £675, got £600...... I thought I could reax and enjoy the deal I got last September on its' replacement - a new Saychento for a whisker under £5k.
Until Motorpoint (this week) advertised the self same 'Saychento' (yes I know it is spelt Seicento) for £3995 - a whopping grand less, and with CD player too.
Similar story at local Rover Garage where special deal expired in October, presumably to be replaced with an even more 'special deal' in January.
Result: used car residuals hammered and all cars will cost less next year....or the year after....or the year after
At this rate in two year's time cars will be given away in cornflake packets
Is this good or bad?

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Wed 8 Jan 2003 20:57
How low can they go? - googolplex
Is this good or bad?


Good!

Splodgeface
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Wed 8 Jan 2003 21:25
How low can they go? - mab23

...as long as you don't own a car, sorry a fast-depreciating heap of metal that will cost you a fortune to dispose of when nobody wants to buy it when it's more than 10 years old...

Hey my Merc SLK is depreciating at the same rate as the Ford Ka I bought 4 years ago (approx 2k a year). If you're going to own a depreciating asset, it might as well be a fun one... :-)

mike
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Thu 9 Jan 2003 21:01
How low can they go? - googolplex
I dare say this has been covered numerous times in previous threads. But to cut things short, buy a used car and hang on to it long after it ceased to be worth much to anyone but is still servicable and driveable. So, as mine has been worth nothing for a while, I'm driving a depreciation-free motor. When it breaks I'll buy another used car and the low prices are...well, Good!
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Wed 8 Jan 2003 22:48
How low can they go? - J Bonington Jagworth
Well at least the person who bought your Mazda got a good deal! Our 323F is two years older and has twice the mileage, but we still love it...
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Thu 9 Jan 2003 18:57
How low can they go? - memyself-aye
Not that good a deal - I would have sold the Mazda for £500...
forgot to say the reversing lights don't work...the fact remains that new car prices are falling that fast that this week's best deal is last week's fools purchase. I think ownership 'per se' is heading for history except for classics-must cause the leasing companies a headache or two.
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