Car value - why is age so important ?

HERBIEMERCMAN

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hi everyone, i am selling my wife's vectra estate, we have spent £1,000 completely restoring it, based on us keeping it, but due to ill health my wife must now have an automatic and the vectra is a manual.

perhaps i am being neive as i know a 1996 vectra estate would be worth £600 to £700. i am asking £1,500 as the car is superb, new fuel tank, new tyres, new timing belt, water pump,alternator, windscreen, new battery, the list goes on.tax. MOT etc.

if i had bought an old cottage and renovated it then i would have had no difficulty recouping my outlay.

why are cars so different ? if somone buys merc for £2,000 then spends £2,000 improving it why would this not be appreciated by a potential purchaser ?
 

Micman

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That's cars for you!

Think of all those 'boy racers' who rack up £1000's on alloys, bodykits, in-car ICE, window tints, lowered suspension etc for their £500 Vauxhalls Novas.

At the end of the day it's still just a £500 Vauxhall Nova :D:D:D

The thing with cars you have to ask yourself if it's worth the investment. I'm sorry to say that investing £1000 into a £600 Vauxhall Vectra isn't really the same as investing £1000 into a £600 original Mini for example. Some cars are just more desirable and the investment adds value.
 
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jberks

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It is worth more - just not what you put into it.
Clearly sat besides an identical one without those improvements and it will be worth more. The problem is, that, just like houses, there is an upper limit to what that particular item is worth. So, you can mint a £75k house in a dodgy area and spend £75k doing it, but you will still struggle to exceed maybe £85k because for £90k you could get one in a nicer area so £90k is the ceiling for that area.
Same goes for cars.
A 97 vectra in mint condition is worth possibly the same as a tatty 98/99 model but once you get to 2000, its still a 2000 vectra vs a 97 one and nobody will pay the same. Besides, a 2000 model may not need any of that work doing yet so its basically the same car and if they're identical (and the 2000 model is likely to have a few more toys and updates) who is going to pay the same for yours?
All that said, I did once pay over the odds for a mint Vauxhall Viva with 24k on it so as I say, a mint model will always be worth more than a normal one.
 

rovingHawk

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if i had bought an old cottage and renovated it then i would have had no difficulty recouping my outlay.
Not necessarily- depends on what you spent the money on & who wants to buy what.

RH
 

exchangeandmart

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It is worth more - just not what you put into it.
Clearly sat besides an identical one without those improvements and it will be worth more. The problem is, that, just like houses, there is an upper limit to what that particular item is worth. So, you can mint a £75k house in a dodgy area and spend £75k doing it, but you will still struggle to exceed maybe £85k because for £90k you could get one in a nicer area so £90k is the ceiling for that area.
Same goes for cars.
A 97 vectra in mint condition is worth possibly the same as a tatty 98/99 model but once you get to 2000, its still a 2000 vectra vs a 97 one and nobody will pay the same. Besides, a 2000 model may not need any of that work doing yet so its basically the same car and if they're identical (and the 2000 model is likely to have a few more toys and updates) who is going to pay the same for yours?
All that said, I did once pay over the odds for a mint Vauxhall Viva with 24k on it so as I say, a mint model will always be worth more than a normal one.


I think you made a really good point there. No matter how good condition a car is or how high spec it is, it will always have a ceiling limit, as when you hit a certain price, there will always be the option to get a better newer car. You should be able to get the best price for it in a private sale, but you have to be realistic about the price. People will not pay more for an older car if they get a newer car for the same price - they have to consider how the car will hold value for them as well. Have a look at some similar cars and how much they are going for on Exchange and Mart if you want a better idea. Bare in mind any prospective buyers will be looking at what else is out there and if you want to sell a car you have to compete with that.
 

*Thumper

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Lots of wise words ....... but they really could have been saved, by adding mearly 3 ..................... It's a Vectra !!
 

PeterCLK

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Investment and cars is an oxymoron.
 

Xtractorfan

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And the vectra would need some oxyacetylene ...Stick it on ebay and sing its praises you never know there are always people who will buy but if your getting anywhere near a grand let it go...
 
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HERBIEMERCMAN

HERBIEMERCMAN

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yep, you are all saying what i did not want to hear but i know you are right.

i have four cars and the latest addition is a new corsa auto, but the best value for money car is the vectra estate. it has the looks, the ride quality, plenty of parts available, 40MPG on longer journeys. etc.

just grinds me to have to give it away, my grandson is also upset as he was looking forward to owning it but the insurance is a joke at circa £4,500.

the other casualty in my fleet will be my 97. e-300. 7 seat. eleg.est. i have nursed it from new, if i sold it i would only get half of what i have spent on it in the past 2 yrs. i will get a buzz out of seing somone else get a bargain and appreciate the quailty of a well used machine which travelled 80% of the distance to the moon,is 13yrs old,and is still a very respectable family limo.herbiemercman.
 
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Alex M Grieve

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yep, you are all saying what i did not want to hear but i know you are right.

i have four cars and the latest addition is a new corsa auto, but the best value for money car is the vectra estate. it has the looks, the ride quality, plenty of parts available, 40MPG on longer journeys. etc.

just grinds me to have to give it away, my grandson is also upset as he was looking forward to owning it but the insurance is a joke at circa £4,500.

the other casualty in my fleet will be my 97. e-300. 7 seat. eleg.est. i have nursed it from new, if i sold it i would only get half of what i have spent on it in the past 2 yrs. i will get a buzz out of seing somone else get a bargain and appreciate the quailty of a well used machine which travelled 80% of the distance to the moon,is 13yrs old,and is still a very respectable family limo.herbiemercman.

Hi Herbie,

For multiple cars, try Admiral Multicar. I am with them and have insured 3 cars for less than the price of two.

They do not participate in the usual "searchengines.com" but you should goole them and approach directly.

Good hunting.
 

Retired

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Take two cars, same model, same spec, same condition etc.

One is 4 years old and has done, say, 25k miles.

The other is 2 years old and has done, say, 35k miles.

I assume you would be asked to pay more for the newer car.

Why is age so important to the market? In my example isn’t the older car at least as desirable as the newer one?
 

kth286

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Investment and cars is an oxymoron.

There are a significant number of excemptions, and if you can spot the next classic(like the 300 sl of the 1950s) there is the added benefit of nil CGT to pay on the appreciation when you cash in.

A unique case in that respect.
 

kth286

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Take two cars, same model, same spec, same condition etc.

One is 4 years old and has done, say, 25k miles.

The other is 2 years old and has done, say, 35k miles.

I assume you would be asked to pay more for the newer car.

Why is age so important to the market? In my example isn’t the older car at least as desirable as the newer one?

The newer car will always have what the older car will never have - improvements made to the design based on real world experience of the deficiencies found in the original design.

Cars are continually improved throughout their life span.

The later model is always better.
 
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mikestrivens

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The later model is always better.

This is rubbish. Car manufacturers are notrious for built in obsolescence. They never miss a trick to use cheaper or thinner metal (e.g. W210), reduce specifications (e.g. fewer guages), time limits (e.g. on warranties, Sat Nav, TVs, computer systems etc). In many cases the older models are much better and suffer non of these problems.
 

kth286

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This is rubbish. Car manufacturers are notrious for built in obsolescence. They never miss a trick to use cheaper or thinner metal (e.g. W210), reduce specifications (e.g. fewer guages), time limits (e.g. on warranties, Sat Nav, TVs, computer systems etc). In many cases the older models are much better and suffer non of these problems.

As you did not understand and read properly what was said - I will say it again.

We are talking about the same model - an early version, and a later version, OF THE SAME MODEL.
 
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HERBIEMERCMAN

HERBIEMERCMAN

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i was design director at baxi heating uk, biggest heating company in europe for several years. we used to carry out continuous improvement and cost benefit analysis programmes. yes metal guages were reduced and cheaper components found etc.

it was also true that the tail end of the life span of a model was debugged, due to field use experience, you could say one of the design integrity attributes is going one way and the field use experience improvements is going the other way.

the old models from the 70's were solid wood deccorative parts, stainless steel, cast iron, and solid brass valves etc. the nett efficiences were circa 70%, where current appliances are circa 98%.

the old designs needed very little maintenance or repair, sort of low tech solid design. the current appliances contain complex electronics, like a TV set, special knowledge and equipment to service or repair them. life cycles reduced from 20yrs down to 7yrs, eg, people replced their boiler based on repair cost. this is not green, but does create jobs.

i am not sure what my vote would be, efficiency 70% or 90%, much lighter, quieter, nice new model every 7 yrs? etc.

a SWOT (strengths,weaknesses,opportunities,threats) analysis would be interesting. herbiemercman.
 
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Blobcat

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i was design director at baxi heating uk, biggest heating company in europe for several years. we used to carry out continuous improvement and cost benefit analysis programmes. yes metal guages were reduced and cheaper components found etc.

it was also true that the tail end of the life span of a model was debugged, due to field use experience, you could say one of the design integrity attributes is going one way and the field use experience improvements is going the other way.

the old models from the 70's were solid wood deccorative parts, stainless steel, cast iron, and solid brass valves etc. the nett efficiences were circa 70%, where current appliances are circa 98%.

the old designs needed very little maintenance or repair, sort of low tech solid design. the current appliances contain complex electronics, like a TV set, special knowledge and equipment to service or repair them. life cycles reduced from 20yrs down to 7yrs, eg, people replced their boiler based on repair cost. this is not green, but does create jobs.

i am not sure what my vote would be, efficiency 70% or 90%, much lighter, quieter, nice new model every 7 yrs? etc.

a SWOT (strengths,weaknesses,opportunities,threats) analysis would be interesting. herbiemercman.
Way of the world right now unfortunately, how can it be "greener" to replace your car, boiler etc than keep the one you have running? Whilst the newer models are more efficient if they don't last as long then any efficiency benefits are lost in the replacement cost and the manufacturing and distribution.
 

mikestrivens

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As you did not understand and read properly what was said - I will say it again.

We are talking about the same model - an early version, and a later version, OF THE SAME MODEL.

I did understand what you said and I speak from my own direct experience. I would say that the 1995 W124 I bought to replace the 1993 W124 was not made with the same gauge of metal or attention to detail. However it did have £20k of extras that the 1993 car didn't have and much lower mileage. But it is not as well made.
 
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I did understand what you said and I speak from my own direct experience. I would say that the 1995 W124 I bought to replace the 1993 W124 was not made with the same gauge of metal or attention to detail. However it did have £20k of extras that the 1993 car didn't have and much lower mileage. But it is not as well made.

I was talking this over with a customer this week who has a 123 still, with out doubt the quality of the fittings and detail on the 123 are superb, yes I too went from a 123 to a 1 year old 300TE. Yes it was quieter and beautiful,. it drove like no other, but the quality of the fittings were not there anymore as the plastic invasion of door handles and fittings had begun.
 

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