The Car Depreciation Awards: Post Yours

[Neuk_]

I think I win, I bought an Opel Kadett 1400 in 1985 for R2700 (2nd hand), and sold it in 1988 for R5500. That's more than 100% profit and 3 years usage

I have a few sort of like this...

I bought a 1967 VW Type 3 that I bought for R20k and sold for R40k around three years later.
I co-own a 1966 VW T1 Type 2 Bus that we bought 8 years ago for R20k and think we could get R100k for it now.
I own a 1981 VW Golf GLS that I paid R19k for and think I could get R40k for it.

The best though is a neighbour who bought a 1954 Porsche 356B in pieces for R800 and thinks that once he is done it will be worth over R2m

 

[Foxhound5366]

5) Not that useful when people have paid extra into the loan.

I know, I already said that in my opening post - but it's an interesting measure with enough data points just to get a sense for when the average consumer is managing to trade-in their cars again. I know it's interesting to me, for sure

 

[Moereloos]

I think I win...
1) Car: 2009 Renault Koleos 2.0 Diesel
2) New - took delivery 1 March 2009
3) Price: GBP13,400 (36% off list price)
4) Sold: GBP15,000 back to Renault on 31 December 2009. Had it for 9 months and done 9000 miles
5) Positive equity from day 1

For SA most recent:
1) Car: 2012 Hyundai Elantra 1.8GLS
2) New
3) Price: R240k January 2012. (No deposit)
4) Trade: R138K in November 2015 R17,900 more than settlement
5) Positive equity: Probably after about 30 odd months.

 

[Colin62]

You gotta find out. You can get a TransUnion car report for like R29, then share it here

What sort of commission are they paying you?

 

[Foxhound5366]

What sort of commission are they paying you?

Haha Colin, none ... and you'd see that if you saw in my original post I slammed them for having all the data we're looking for anyway and holding onto it. If you've got a free source of book values for our dear friend, feel free to enlighten him. Or if you've got nothing positive to contribute, you can just shut up like usual

 

[Foxhound5366]

Good work. Do I win or lose?

You didn't add my sportage.

Hey dude, I didn't do that coz your Sportage didn't have a trade-in value listed. What you see it selling for online is its retail price, not what the dealers are offering on trade (which is what most consumers will face).

 

[Foxhound5366]

And here we go, new graphs with all extra cars added We have new winners and losers!

There's also the new graph with the complimacated "Depreciation as a percentage of retail price divided by months" ... for even more of an 'apples-to-apples' comparison.

\


As always, keep the figures coming and I'll keep updating the graphs ... we should start seeing some interesting trends real soon. At this rate we can even have formal manufacturer awards, dancers, maybe a singer or two.

 

[kripstoe]

As always, keep the figures coming and I'll keep updating the graphs ... we should start seeing some interesting trends real soon.

Looks interesting, but I'd be surprised if the trends are different to what is mostly known already.

 

[Colin62]

Haha Colin, none ... and you'd see that if you saw in my original post I slammed them for having all the data we're looking for anyway and holding onto it. If you've got a free source of book values for our dear friend, feel free to enlighten him. Or if you've got nothing positive to contribute, you can just shut up like usual

So you’re seriously expecting people to spend money just to post a trade-in value? You’ll get really good, solid data that way. Oh, hang on, you’ve accepted thumbsucks already, so it’s all skewed already, so I’ll skew it some more.

1. 2005 Mercedes c220cdi Estate Avante Garde manual
2. Bought secondhand in 2007, 18 months old
3. Paid R175 000
4. Current value R20 000
5. Paid cash

1. 2004 Mercedes c220cdi Estate Classic manual
2. Bought secondhand in 2013, 9 years old
3. Paid R120 000
4. Written off 2014 and was paid out R95 000
5. No clue and not relevant

1. 2007 BMW X3 2.0d manual
2. Bought secondhand in 2015, 8 years old
3. Paid R165 000
4. Traded in in 2016 for about R50 000

1. 2016 Mazda CX-3 Active manual
2. New
3. Paid R270 000
4. Trade in now roughly R100 000

 

[bromster]

Would love to see a Volvo on here

 

[Foxhound5366]

So you’re seriously expecting people to spend money just to post a trade-in value? You’ll get really good, solid data that way. Oh, hang on, you’ve accepted thumbsucks already, so it’s all skewed already, so I’ll skew it some more.

1. 2005 Mercedes c220cdi Estate Avante Garde manual
2. Bought secondhand in 2007, 18 months old
3. Paid R175 000
4. Current value R20 000
5. Paid cash

1. 2004 Mercedes c220cdi Estate Classic manual
2. Bought secondhand in 2013, 9 years old
3. Paid R120 000
4. Written off 2014 and was paid out R95 000
5. No clue and not relevant

1. 2007 BMW X3 2.0d manual
2. Bought secondhand in 2015, 8 years old
3. Paid R165 000
4. Traded in in 2016 for about R50 000

1. 2016 Mazda CX-3 Active manual
2. New
3. Paid R270 000
4. Trade in now roughly R100 000

You've said you'll skew it so you just want me to discount all your data?

 

[Foxhound5366]

Would love to see a Volvo on here

Yeah, ironically my second graph perfectly confirms the French car bomb theory

 

[Colin62]

You've said you'll skew it so you just want me to discount all your data?

I would. It’s useless data unless everyone else is doing between 60 000 and 70 000km a year and clocking up half a million kilometres on one car.

There are three factors which determine the trade in value. The car (model etc), the condition, and the mileage. You’re ignoring two of the three.

I’d be interested in seeing meaningful data on depreciation, but I don’t see much here. You’d get better information by comparing what people actually paid for their second hand cars and comparing that to what they actually sold for brand new.

If I wrote my 2005 Merc off today, I’d probably get paid out about R80 000, yet the only reason I still own it is because with every car I’ve bought since then they’ve refused to even make an offer on a trade in. So what’s it worth? R80k? I know I could sell it for R20-25k. Maybe. But I’d not buy it for that.

 

[pinball wizard]

Yeah, ironically my second graph perfectly confirms the French car bomb theory

Great value if you hang onto one for more than ten years though

 

[Colin62]

Great value if you hang onto one for more than ten years though

Or if you buy it second hand after the original owner has taken the hit for you.

 

[Foxhound5366]

I would. It’s useless data unless everyone else is doing between 60 000 and 70 000km a year and clocking up half a million kilometres on one car.

There are three factors which determine the trade in value. The car (model etc), the condition, and the mileage. You’re ignoring two of the three.

I’d be interested in seeing meaningful data on depreciation, but I don’t see much here. You’d get better information by comparing what people actually paid for their second hand cars and comparing that to what they actually sold for brand new.

If I wrote my 2005 Merc off today, I’d probably get paid out about R80 000, yet the only reason I still own it is because with every car I’ve bought since then they’ve refused to even make an offer on a trade in. So what’s it worth? R80k? I know I could sell it for R20-25k. Maybe. But I’d not buy it for that.

I disagree Colin. And unlike you, I've done something about it, rather than just sitting back criticising something somebody else has done. Create a thread, get data and generate graphs and we'll then compare.

This thread has value because it shows real people's real experiences with a broad cross-section of cars and ages. The more data you get, the more reliable any trends will become.

 

[Colin62]

I disagree Colin. And unlike you, I've done something about it, rather than just sitting back criticising something somebody else has done. Create a thread, get data and generate graphs and we'll then compare.

This thread has value because it shows real people's real experiences with a broad cross-section of cars and ages. The more data you get, the more reliable any trends will become.

In that case, as my data fits the criteria of a real person’s real experience, you should include it.

 

[Mike Hoxbig]

Just an FYI if you're financed through Wesbank, you can get your cars current trade value on the FNB app from nav>>car...

 

[Foxhound5366]

Something I think we should all agree on is that my figures are generous, if anything, because you generally NEVER get trade value at the dealerships ... in my experience it is R10 000 less, always, without fail.

 

[AchmatK]

Just an FYI if you're financed through Wesbank, you can get your cars current trade value on the FNB app from nav>>car...

You can even add other vehicles that are not finance through Wesbank.

Only my Nissan is financed through Wesbank and the BMW and Citroën are with MFC.