ALL - 3year old cars

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Tue 9 Jun 2020 15:00
ALL - 3year old cars - sammy1

Trawling through Ebay it appears that the average family car advertised 2017 model is circa £20_£22k for most mileages of around 25k and this includes the traditional premium brands. Bearing in mind that most have lost any manufacturers and possibly be requiring new tyres do you think these are sensible buys? Does the quality of these cars justify the asking price and do they perhaps have another 7years motoring left in them? Would it perhaps be better to buy younger with a bit of warranty or look at lower mileage older cars? I appreciate market forces price them were they are but how much of a buyers market is it.

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Tue 9 Jun 2020 23:12
ALL - 3year old cars - Avant

I know my view is unfashionable, but with that fairly generous budget I'd buy new (or pre-reg or ex demo). For example a Skoda Fabia, Kamiq or even a basic Octavia can be had for that amount: all the car you need and a full warranty as well.

Or the Yaris hybrid that Johnnyrev's wife has just got new via Carwow (current thread), having found that her previous Yaris hybrid, also bought new, had held its value far better then she'd thought.

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Tue 9 Jun 2020 23:33
ALL - 3year old cars - brum

Many 3 year cars will be ex lease/hire/PCP. A large proportion will be clocked to get round the contract terms and the finance companies turn a blind eye as the lower mileage make them more valuable. Many will have had no or minimal servicing, with some fraudent records. Quite a few will have been modified, thrashed and maybe put back to stock. The majority will be out of warranty.

They are in many cases not a great deal cheaper than you can negotiate a new car.

Good value? I don't think so.

www.hpi.co.uk/content/car-scams-and-motor-fraud/ro.../

www.autoexpress.co.uk/car-news/consumer-news/88547...l

The prices for these cars btw is set mainly by the expections of the finance companies pcp and lease schemes which are artifically high to get the monthly payments down on the new cars. Not really market driven.

Edited by brum on 09/06/2020 at 23:37

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Wed 10 Jun 2020 00:18
ALL - 3year old cars - Terry W

Typical value of a car at 3 years old is 33-50% of original list - depends a lot on brand, reputation, original discounts, new/upgraded model etc.

So if the the average price on ebay of a 3 years old car is £20k the implication is that the original list price was £40-60k.

This leads to only a few conclusions:

- cars on ebay are heavily skewed in favour of luxury autos (???)

- cars are generally hugely overpriced

- sellers expect bids £3-6k (or more) off the asking price

This would not be where I would look for a three year old motor costing £10-20k+.

reflects a market value

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Wed 10 Jun 2020 12:29
ALL - 3year old cars - John F

The taxman allows 25% per annum to be set against your tax if solely for business use (assuming your business is successful enough to generate a tax bill). You can get a lot of car for £40K, but at the end of three years it will only be 'worth' around £16K. If you sell it for more than this you will be taxed on the difference. This is why there are so many bargains to be had in the luxury section.......(and why the taxman is still waiting for me to sell my TR7 ;-)

Edited by John F on 10/06/2020 at 12:30

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