Hi all,.
Had a bit of luck - I've won a Kia Cee'd for a year after doing their 3 day test drive. Quite looking forward to it, it was a nice car.
I'm now faced with a dilemma. To make it worth my while I should really get rid of either the C4 or the MX5 (and thus not have to pay for them for a year). We really like both cars, wouldn't part with either if it wasn't for this.
We pay the same monthly for each and have a year left on the C4 VT (55) and two years on the MX5 1.6 (04). The C4 is still in warranty for another year, the Mazda is more fun. The C4 is safer than the MX5 (can't help but notice the bare metal roof Meccano next to my head). If we kept both cars for a few years (which was the original plan), the MX5 is likely to hold its value better.
I'd appreciate anyone's ideas and opinions on this.
Oh, the other thing is I've not really sold any cars privately (well, that were worth much) so would it be worth my while approaching dealers with the cars? Would they offer me the guide price on the car, and I'm guessing not, how much less would I expect/be able to get away with.
I've a question on insurance that I'll put into another thread....
tia,
Lee
-- Biggedy biggedy bong
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Guessing the Mazda is the more fun 2nd car and the Citroen the more sensible day to day car
..which the Kia will become.
So for me it would have to be the C4 that went.
However, in fairness, i've never really 'got' Citroens, so may well be showing some bias.
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Agree it's gotta be the Citroen, purely because the Kia will be taking over its role as the sensible family car. As you say, MX5s do hold their value, so you'll lose out less financially too. Certainly nothing to do with the fact that the C4 wears a Citroen badge - I quite like them, but logically you'd regret keeping it over the MX5. Unless, on the other hand, you need 2 sensible family cars?!
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Keep the MX5, the fine weather is on its way.
My son has a 1,6. I am "allowed" the occaisional drive in it. It's no ball of fire but the "grin" factor of an open 2 seater is hard to beat.
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I'm a very happy C4 owner, but given your predicament, I would probably sell the C4.
The question is, regardless of their different roles, which car do you prefer all round - the MX5 or the C4? Whichever you prefer overall should be the one you keep. Obviously the MX5 will be a 'sportier' drive, but that may not actually be as important to you, as it is to road-testers.
As for depreciation, my observations are "the higher the value, the greater the chance for depreciation", regardless of badge/image. I remember trying to sell an MX5 a few years back and it was unbelievably difficult even without mentioning the colour (it was white). I got the sense that in the second-hand market most buyers requirements are on practicality, running costs, etc. rather than the more glamourous aspects of motoring. And MX5s are perceived to be glamourous rather than practical, cheap to run, etc.
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You also have to think what you will do when the C'eed goes back in 12 months. You will need a more practical car then for day to day driving and you will have lost some money on the sale of the C4 (if that is the one you get rid of).
I know the C4/MX5 will depreciate in 12 months but selling either and settling the finance (you said 12 months for C4 and 24 for MX5 to go) will lose you a fair bit of money compared to how much you have paid out overall. And then you need to buy something in 12 months to replace the C'eed.
Trickly decision...
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Congratulations!
I think that your best bet is to flog the C4: you may still have negative equity in the MX5 as you have 2 years to go assuming a 3-year deal. If you have some (positive) equity in the C4 you can invest the proceeds: the Citroen is the faster-depreciating car and you'd lose more by keeping it than the Mazda.
If you like the Kia you may find you can do a deal with them and buy it when the year is up.
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Definately ditch the Citroen
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Just had a thought re what to do in 12 months time - they may well offer you a decent deal to keep the kia rather than take it back and move it on as a used vehicle so definately sell the C4.
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surely you are going to lose money either way. keep both and give the kia a miss.
you'll still need to buy another car next year and id rather drive a c4 then a ceed.
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Thanks to all for the replies so far, keep them coming it is helping untangle my brian.
Don't really see how I could lose money on this, I'd have to be doing something pretty barmy to make a loss on a free car for a year. I am swaying towards the C4; like for like and there should be a decent amount of money still left in it.
Can't help but think there's a smaller audience for the C4 over the MX5 but I won't know until I try to shift it.
It had occured that they'd offer me the car at the end of the year - if the deal was good enough we'd perhaps be tempted. The colour isn't what I'd have chosen, English Pewter (bit of an odd metallic colour) but I did like the car for the period we had it. But then we like the C4 and I'm sure we could pick up another and pretty much catch up where we left off with a one year newer C4 next year if we wanted to.
Keep the posts coming, it really is helping!
Thanks
-- Biggedy biggedy bong
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Well done! but I think , with all due respect, it's rather skewed your logic!
So, you get a free car for a year (although I imagine you pay for insurance & fuel) - you sell one & take the nearly-new level of depreciation hit on it - what happens at year end? Presumably you bought the C4 & MX-5 for entirely different practicality/pleasure reasons. When you come to buy the Cee'd replacement, you'll probably pay at least what you got for your sold car for - maybe more - and have the new car/secondhand car 'teething' period to boot - you'll certainly have 'less' car for your money.
I can see no upside at all. Maybe if it had been something spine-tinglingly exotic - like an M5 or Audi R8 etc. - but put yourself through hoops for a run-of-the-mill Kia Cee'd ? And probably be on the end of a nett loss? Would be a no-brainer for me at least.
Have you checked out the possibility of a cash or other alternative? If you reeeaaally like the Cee'd - why not barter off the effective worth of the free year against the price of a new one (must be worth about £3K guessimate..) & chop the C4.
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You could keep the C4 and the MX5 and let me have the free Kia!
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Woodbines has a good idea. Barter for a cheap C'eed. Otherwise in 12 months the deal might not be so good.
Wonder if many C'eed test drives ended as winners to shift stock ;-? (Not all just a high percentage).
Good cars as far as I can see though. Not Focus/Golf class but close behind.
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If you hack in the C4, presumably you'll need to change your forum name? Kiaian?
Cee'dian? Seedy 'un?
I think that I'd thank them very much for their kind offer, and graciously decline.
S'not worth the hassle.
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Sell the C4, put the money in the bank, then buy an identical one that's a year newer in 12 months time.
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But there won't be any money to put in the bank!
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Given what the car is worth, we'll have a fair chunk of cash left over once the finance is paid off - we're not paying 33% of its purchase price in the final year, or even 33%+finance.
If I can sell it £50 for it today, it stands to reason I can buy another for slighty more than £50 next year, but one that is a year newer. Of course it's likely to be more expensive to buy than sell but I just don't see how I can lose with this. My maths is simplistic of course but I hope the principle is sound.
My money = Car - outstanding finance
New Car = Our money + new finance
New name..I've almost always been Citroënian on here, but maybe Leeceedee...
It had crossed my mind to "hire" out a car or pass onto the family, but the only people I'd consider doing this with have new cars already.
Thanks again to all for the advice, it's looking like the C4 but the ideas here are really very useful, they're appreciated! Keep them coming!
-- Biggedy biggedy bong
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My tuppenceworth, get rid of the C4 cos it will probably be facelifted soon and you will suffer a bigger loss, plus maybe you'll come to appreciate the Kia (or any far east) brand you never know. Lets be honest, we'd all like the chance to test something different for a year for free so give it a go. I know a lot of people slag the far east cars but those old enough will remember how the Japanese motorcycles and cars were slated similarly but they're not laughing now. For pete's sake keep the MX5 a proper little car and it won't go wrong.
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C'DrS C'is C'absolutely C'correct.
If you hack in the C4, presumably you'll need to change your forum name
Suggestions on a postcard please.
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If you don't decide to take the car, surely you must have a friend or family member who drives an older car and would kill for a year's free motoring in a nice shiny new motor?
Maybe even make a small profit if the former: tell em they can have a brand new car, for a year, for £400 -- roughly the cost of running an old one for a year (servicing, MOT, repairs etc).
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You'd get a better selling price for the MX5 than the C4, Citroens depreciate extremely quickly. Consider the overall financial savings for each car in the light of getting quotes for each of them and then make a judgement when you have the figures in front of you.
Consider the practicalities of the MX5 verses C4 over the next 12 months rather than simply the short term.
Also what car would you go for when you have to hand back the Cee'd. Of course you may like the Cee'd so much you decide to go for one next year.
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Why not:
Arrange with a friend/relative-
he/she has your C4 for a year - I guess you make some agreement re max mileage etc- and takes over paying your finance , insures, taxes, maintains it ,or some compromise on that?
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How often do you drive the MX5 ? If the answer is "not often" flog it, pay off the finance on the C4 (unless the interest rate is fixed and below a decent Savings Account) otherwise swipe a chunk off you Mortgage, save the difference in repayments, by a newer MX5 next summer. It's going to get expensive to owe money over the next year.
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He's not wrong.
I would dump the Citroen and the Mazda.
But then, I'm a bof.
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And of course money isn't the only consideration. The Ceed is practical, the MX5 is fun - they'll make a good pair. Enjoy!
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Hi Lee,
I have been following this though have only just formed an opinion, firstly however congrats, a Cee'd does not hold much appeal however free use of one for a year is of significant value and you may be able to buy it at the end for a very favourable price.
I would sell the MX5, it is the older car, it is "only" a 1.6 and despite the weather (and that is improving) it is a good time to sell a conv, also I guess it would have a little warranty left that should add some value.
Regards.
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I'd sell the Citroën, use whatever equity is in that to pay off or pay down the MX5, then save the monthly payments from both cars as a deposit to replace the Cee'd in a year's time. (Or depending on the level of the payment it might even be enough to buy what will by then be a three-year old C4 outright).
If you manage that then the net result is that the MX5 is paid off a year early.
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IMO it's fairly obvious that Kia hope that after the year's up you'll say "we loved the C'eed so much we want to buy it", and then you negotiate a nice discount and end up with a very good car for not much money (incidentally is it a diesel or petrol model?). It'd be a fairly pointless gimmick if they took the car back without a purchase option. That said, my opinion still stands - ditch the Citroen, keep the MX5 (even the earliest MX5s still fetch silly money). Seems to be the dominant opinion on here, having ruled out hiring it to a friend/family member.
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IMO it's fairly obvious that Kia hope that after the year's up you'll say "we loved the C'eed so much we want to buy it" and then you negotiate a nice discount and end up with a very good car for not much money (incidentally is it a diesel or petrol model?).
I don't think it will bother them if its returned at the end of a year after a free lease, Ford and Vauxhall do this with thousands (if not hundreds of thousands) of cars every year !
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Ford and Vauxhall do this with thousands (if not hundreds of thousands) of cars every year !
True, but Ford and Vauxhall aren't still fighting for acceptance by a market that perceives them as cheap far-eastern carp. Give me a Kia over a Ford/Vauxhall any day.
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Give me a Kia over a Ford/Vauxhall any day.
It is amazing how polarised views can be are, as you say, Kia are still fighting for acceptance by a market that perceives them as cheap far eastern carp however while that is certainly not the case Ford are rivalling Audi etc for quality etc and are in a different league from Kia dynamically.
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>>Ford are rivalling Audi etc for quality etcand are in a different league from Kia dynamically.
Whilst that may be true in the case of Ford, I don't agree if you think it also applies to Vauxhall. Frankly every Vauxhall car I've ever driven has been a mess to drive, with a poor driving position, rough engines, inconsistent pedal controls (a particular bugbear of mine), clunky gearboxes and marginal build quality. In all honesty I'd take one of the newer Hyundai/Kia models over these horrors any day of the week.
The Daewoo we recently acquired is similarly awful, and a lot of that can be traced directly to its GM heritage.
And while I will accept that the larger Fords are very good cars, the Fiesta is still as rough as heck. Flimsy, terrible gearbox, good 1.25 engine though.
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the Fiesta is still as rough as heck.
As is the Ka, one of the worst cars I've driven. Bare painted metal inside, pedals about an inch apart (not good for my size 11s), and a terrible 1.3 litre engine that's out of puff at 50mph (it was the revised OHC model I drove too!). I've driven a Picanto 1.0 that felt nippier and better put-together.
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Frankly every Vauxhall car I've ever driven has been a mess to drive....
Each to their own I suppose. Having owned and driven various Vauxhalls for the past 22 years, the only one I would say that had a poor driving postion was the Nova. As for rough engines, clunky gearboxes and marginal build quality - you're having a laugh.
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My mum had a Vectra-B that I drove a few times - my only complaint was the sloppy handling. Ecotec engine wasn't quiet by any means, but certainly wasn't unacceptable either. As for build quality, nothing ever fell off in 6 years. Plenty of electrical niggles, and annoying engine problems (worst was the usual idle control valve problem costing £400 to fix including oil separator). Excellent automatic gearbox though - felt every bit as responsive as a manual.
Anyway, back to the thread.... ditch the Citroen, keep the Kia.
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every Vauxhall car ..... rough engines >>
Vauxhall 4 cyl petrol engines are very sweet, crips and free revving.
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Vauxhall 4 cyl petrol engines are very sweet crips and free revving.
Not in my experience.
The 1.6 16V they put in the Astra is a case in point. Chattery at idle (although you don't hear much inside, such is the 30 hundredweight of sound-deadening material they put in the cars), and growly when revved. Certainly not sweet. It's the usual story of a European car sounding quiet due to the soundproofing -- Japanese makers just build the engine quiet in the first place.
And gearbox clunk is me having a laugh? Come off it. A gear linkage should not be audible on every gear change. The gears should not be notchy, and there should not be any shunt-back through the gear lever when the clutch is re-engaged. All of these have been present on the Vauxhalls I've driven. As has been said, each to their own, but I'd really rather not have to drive GMs. If I never run another it'll be too soon.
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>>Ford and Vauxhall aren't still fighting for acceptance
Having to give away lots of cars for no profit and stuggling in their home market against Toyota and Honda... I'm not sure its far eastern companies fighting for acceptance, hmm.
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Do what David HM said.
That way you get to keep the better car of the two and David's advice is normally pretty well thought out when it comes to finance.
Blue
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I was tempted to say sell the Mazda, simply becuase financially you would be better off immediately than selling the C4. But you bought the C4 and MX-5 for a reason and the reason doesn't change simply because you have a chance to get a free car.
So, sell the C4, unless of course you have to sell it at such a low price that it doesn't pay off the loan. In which case, sell the MX5 which should acheive a price that will pay off the loan for that.
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Can give no real input re which car to get rid of but I too won a similar competition. When th Mitsubishi Colt was launched in 2004 I won one for a year. Great car but insurance was EXTREMELY difficult to get hold of. As I had "no insurable interest" in the car no company would touch me. There were 150 winners throughout the UK and many were "insured" online probably by not disclosing all the facts. It was so bad Mitsubishi's insurance underwriters were forced to insure anyone who could not get insurance but the premiims were a joke! I managed to get cover through a local broker and whilst not very cheap I got a good deal. As I said once the insurance was sorted I enjoyed my year with the Colt. I even got a brand new one after 6 mths due to my high mileage.
Be careful with insurance and enjoy!
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