2nd hand car prices - the flip side
Feb 20th 2013, 1:22 am
#1
Proudly Deplorable
Thread Starter
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
2nd hand car prices - the flip side
Another perspective.
I've just sold my 7yo Nissan Navara. I paid $45k for it in March 2006 and sold it yesterday for $21k (53% depreciation). In the UK they go for a similar new price (with the same spec) yet sell at under $10k 2nd hand today (at least 78% depreciation).
When selling a 2nd hand car you lose less in Australia. Hope this helps.
I've just sold my 7yo Nissan Navara. I paid $45k for it in March 2006 and sold it yesterday for $21k (53% depreciation). In the UK they go for a similar new price (with the same spec) yet sell at under $10k 2nd hand today (at least 78% depreciation).
When selling a 2nd hand car you lose less in Australia. Hope this helps.
Feb 20th 2013, 4:46 am
#2
(It's not my real name)
Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: 2nd hand car prices - the flip side
Another perspective.
I've just sold my 7yo Nissan Navara. I paid $45k for it in March 2006 and sold it yesterday for $21k (53% depreciation). In the UK they go for a similar new price (with the same spec) yet sell at under $10k 2nd hand today (at least 78% depreciation).
When selling a 2nd hand car you lose less in Australia. Hope this helps.
I've just sold my 7yo Nissan Navara. I paid $45k for it in March 2006 and sold it yesterday for $21k (53% depreciation). In the UK they go for a similar new price (with the same spec) yet sell at under $10k 2nd hand today (at least 78% depreciation).
When selling a 2nd hand car you lose less in Australia. Hope this helps.
Feb 20th 2013, 5:11 am
#3
Proudly Deplorable
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Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: 2nd hand car prices - the flip side
Triton. Mitsubishi have the deal of the year on it at the moment - under $29k for the GLX Dual-cab 4x4. Under $36 total with auto, metallic and a shitload of extras, 5 year warranty, fixed price servicing etc.
Last edited by Amazulu; Feb 20th 2013 at 6:58 am.
Feb 20th 2013, 5:17 am
#4
Lost in BE Cyberspace
Joined: Dec 2010
Posts: 14,040
Re: 2nd hand car prices - the flip side
Another perspective.
I've just sold my 7yo Nissan Navara. I paid $45k for it in March 2006 and sold it yesterday for $21k (53% depreciation). In the UK they go for a similar new price (with the same spec) yet sell at under $10k 2nd hand today (at least 78% depreciation).
When selling a 2nd hand car you lose less in Australia. Hope this helps.
I've just sold my 7yo Nissan Navara. I paid $45k for it in March 2006 and sold it yesterday for $21k (53% depreciation). In the UK they go for a similar new price (with the same spec) yet sell at under $10k 2nd hand today (at least 78% depreciation).
When selling a 2nd hand car you lose less in Australia. Hope this helps.
Here's one from the UK
1999 Ford Fiesta - £10,000 - bought brand new.
Sold 2010, complete service history, really good nick, female driver, 65,000 miles (barely driven) - £650
Feb 20th 2013, 5:54 am
#5
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Re: 2nd hand car prices - the flip side
It's almost symptomatic of the Wests financial problems.....Where has that money gone ? I dont mean simply write it off as "Depreciation" but physically where has that money gone to.... Banks ? Taxes ? The Motor Company and then overseas.... It seems to have evaporated somewhere. The fact that that vehicle has lost so much value, here and in the UK equates to a problem that needs to be addressed if you ask me.
Feb 20th 2013, 6:11 am
#6
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Re: 2nd hand car prices - the flip side
You know what strikes me about this, and I'm not talking UK v AUS here in any way shape or form.
It's almost symptomatic of the Wests financial problems.....Where has that money gone ? I dont mean simply write it off as "Depreciation" but physically where has that money gone to.... Banks ? Taxes ? The Motor Company and then overseas.... It seems to have evaporated somewhere. The fact that that vehicle has lost so much value, here and in the UK equates to a problem that needs to be addressed if you ask me.
It's almost symptomatic of the Wests financial problems.....Where has that money gone ? I dont mean simply write it off as "Depreciation" but physically where has that money gone to.... Banks ? Taxes ? The Motor Company and then overseas.... It seems to have evaporated somewhere. The fact that that vehicle has lost so much value, here and in the UK equates to a problem that needs to be addressed if you ask me.
Feb 20th 2013, 6:30 am
#7
Lost in BE Cyberspace
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Re: 2nd hand car prices - the flip side
hmm.....something used is not worth what it is when new...the price is determined by the market. Physically the money has gone to someone - and for the individual- you'd better have enough to buy the next one, or be able to absorp the loss. Like run your own business. The lesson for me, is that in the main a car is not an appreciating asset. I don't believe in new cars, my second hand car won't lose 20k, nor will it cost 20k in 7 years.
Feb 20th 2013, 6:52 am
#8
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Location: Hill overlooking the SE Melbourne suburbs
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Re: 2nd hand car prices - the flip side
Or the falling asset net present value? is recorded. On a balance sheet...the loss comes out of 'owner's equity'?
EDIT
Depreciation is used to lower asset's worth (and improve tax position) on one side of sheet = a reduction in owner's equity (on the other).
When the asset is flogged, the actual sale price is realised.....
Could an accountant tell me if I am on the right lines...?
Last edited by BadgeIsBack; Feb 20th 2013 at 7:06 am.
Feb 20th 2013, 9:55 am
#9
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Joined: Apr 2012
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Re: 2nd hand car prices - the flip side
You know what strikes me about this, and I'm not talking UK v AUS here in any way shape or form.
It's almost symptomatic of the Wests financial problems.....Where has that money gone ? I dont mean simply write it off as "Depreciation" but physically where has that money gone to.... Banks ? Taxes ? The Motor Company and then overseas.... It seems to have evaporated somewhere. The fact that that vehicle has lost so much value, here and in the UK equates to a problem that needs to be addressed if you ask me.
It's almost symptomatic of the Wests financial problems.....Where has that money gone ? I dont mean simply write it off as "Depreciation" but physically where has that money gone to.... Banks ? Taxes ? The Motor Company and then overseas.... It seems to have evaporated somewhere. The fact that that vehicle has lost so much value, here and in the UK equates to a problem that needs to be addressed if you ask me.
Feb 20th 2013, 10:01 am
#10
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Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: 2nd hand car prices - the flip side
Mitsubishis are good. I've got 2. Hope you got a diesel.
Feb 20th 2013, 10:19 am
#11
Chan eil aon chànan gu le
Joined: Feb 2009
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Re: 2nd hand car prices - the flip side
Hubby is buying me a new Challenger, so exciting. 
I love my current Challenger but it's now about 8 years old and those damned trees and stuff keep getting in the way and denting it.
..and I too want a diesel (manual).
I love my current Challenger but it's now about 8 years old and those damned trees and stuff keep getting in the way and denting it.
..and I too want a diesel (manual).
Feb 20th 2013, 10:51 am
#13
Lost in BE Cyberspace
Joined: May 2006
Posts: 6,600
Re: 2nd hand car prices - the flip side
You know what strikes me about this, and I'm not talking UK v AUS here in any way shape or form.
It's almost symptomatic of the Wests financial problems.....Where has that money gone ? I dont mean simply write it off as "Depreciation" but physically where has that money gone to.... Banks ? Taxes ? The Motor Company and then overseas.... It seems to have evaporated somewhere. The fact that that vehicle has lost so much value, here and in the UK equates to a problem that needs to be addressed if you ask me.
It's almost symptomatic of the Wests financial problems.....Where has that money gone ? I dont mean simply write it off as "Depreciation" but physically where has that money gone to.... Banks ? Taxes ? The Motor Company and then overseas.... It seems to have evaporated somewhere. The fact that that vehicle has lost so much value, here and in the UK equates to a problem that needs to be addressed if you ask me.
Feb 20th 2013, 12:11 pm
#14
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Re: 2nd hand car prices - the flip side
Indeed some of the profits on the orginal sale went to Mr Ford...representing some of the money over and above Sales - Cost of Sales...less overheads...
but the actual difference is only the net worth of the car every year determined by the market. I suppose we in part determine that by what we are prepared to pay, or how we perceive the brand or vehicle.
That loss does not go anywhere, we have to account for it ultimately...!
but the actual difference is only the net worth of the car every year determined by the market. I suppose we in part determine that by what we are prepared to pay, or how we perceive the brand or vehicle.
That loss does not go anywhere, we have to account for it ultimately...!
Feb 20th 2013, 2:14 pm
#15
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Re: 2nd hand car prices - the flip side