I will never buy a ner car again...

[robrob]

Well I guess never say never but...
When I ordered the Roco I did have my doubts about buying a brand new car.
Never done it before as I always felt it was total waste of money.
The Scirocco was special, and so I decided to go for it since there was no other choice but buying a brand new one (at the time...)
Every car guide I read predicted a %58 resale value after 3 years, and a friend of mine (who deals with cars) was convinced I could probably sell it 6 months down the line and hardly lose anything at all
Well, how wrong was he! If I sold it today I would probably lose 25% and that is in 4 months...
I was so sure this would not be the case with this car; I mean there are plenty of examples of cars out there that kept their value so well to start with that you could sell it a few months down the line for almost the same if not the same as you bought it for. (The Mini comes to mind...)
A car is not an investment, I know, and I expect car to costs me, and I don’t mind when I enjoy the car I am driving, but I hate losing this much on a car, which is why I have always gone for second hand and had some fantastic bargain as well.
When you look at what you can get out there today for the price of a new Scirocco its mind blowing.
I think for some have shot themselves in the foot buy offering discounts so early in the day, instead of making sure values remain high.

Not saying I regret buying the car, I do love it but I think this has put me off ever buying a new car again...

End of rant...

[adamj]

I guess it is to be expected with a new car and I am sure the current financial climate (I am sick of that word) isn't helping prices.

Its is depressing seeing the prices you can get Scirocco's for now and I often think if I hadn't been so impatient!

However I am trying not to think about the residuals, unless my circumstances change I plan to keep mine for a long time so it dosn't matter!!

It is also nice knowing only I have driven and owned the car!

[bungle]

You said it yourself, a new car is not an investment. The car industry has taken a real hit in this recession, which has hit values. However, you will probably find that if and when the economy starts to recover, so too will second hand car values. I wouldnt bet against those quoted figures of retained value being fairly accurate in three years time.

I really don't think twice about the money the 'roc is going to lose. Not that I'm wasteful or wanton with money, just that I accept that I'm going to lose on it. it is just far, far outweighed by the enjoyment I get every time I look at it, get in it, drive it, talk about it etc. You can't put a monetary value on those things, but to me it's money well spent.

You're no fool, you knew money would be lost. Stop fretting and enjoy it.

Go on, take her for a spin now...you know you want to....

[wigit]

all used prices are in a state of flux, living in oxford there are a lot of glum faces from people working at mini at the moment, think 2 years time

[rehmondo]

All I have to say is I agree with bungle and adamj.

PS I have no regrets, I really love the feeling of buying a brand new car, this was the first time for me and certainly won't be the last!

[Kev]

Second time for me and as I've kept the current one for nearly 10 years and, unless I get paid a lot more all of a sudden, I'll keep the rocco for about the same, I guess depreciation doesn't really come in to it for me. Sure I could spend 5 grand and get an older fiesta or something but even now driving a 9 year old car I just hate the fact that the servicing is a lottery on how much it will cost and the last 3 have been 700+ each! I've got a light permanently on on the dash, I've got a boot that opens only when it fancies and a few other little bits but to be fair it's only got that way in the last 2-3 years. I like the idea of almost cost free motoring for the first 3 years. I won't really be spending out on tyres, brakes, exhaust, expensive cambelts and the like for a good while and if anything breaks it'll be fixed under warranty. It's more expensive, sure, but it's also a nice bit of peace of mind.

I read recently that the 72k service on a megane supersport is over a grand! That's the kind of thing that puts me off getting older cars.

[albertz33]

I read recently that the 72k service on a megane supersport is over a grand! That's the kind of thing that puts me off getting older cars.

I never had a cheap service on my renault, and will never buy another one as a result.. even their advert says "remember when you said you'd never buy a renault?"

im trying to forget!!!

[skippy]

I know all about depreciation.

I bought a brand new Mazda Rx-8 in September 06 for £22K. It has now done 10K miles (56 plate) and I was offered £6,400 to trade in for the Roc!

I was appalled at this, but the legislation regarding emissions etc. has really pummelled values of 'gas-guzzlers', I bought at the wrong time even though I love the car, the £400 road tax puts people off them also. Have managed to negotiate on a slightly better value a trade in but not much. If I had P/X'd last October I would have got £9K!

Think there is a bit of a rule that says, as soon as you drive off the forecourt, you lose £2K. There is something to be said for being the first owner, you have to factor in depreciation, the first year of course is worse, but even I am slightly put off by buying a demonstrator, not knowing how it has been treated etc.

Cars are naturally terrible investments really, but if you do keep it a good while and get your use out of them, it is not so bad, which is not something I have done this time round.

Anyway my motto is - you only live once, so enjoy it and try not to worry about depreciation, just spare a thought for those Aston drivers!

[ABN1C]

I've always worked on the basis that I buy a car at a deposit and monthly payment I am comfortable with, then keep it until I'm able to move it on and break even. As other folk have said it's not an investment and if I had to make sound financial decisions I'd never have bought any of the cars I have done. Driving a car I'm happy with means more than the money I spend on it.

[Tallguy]

I must say I am cautious about some of the stuff I have read about projected high residual values for the Scirocco for wider reasons than the current 'credit crunch':
- the coupe market is declining in the UK
- group 16 insurance (2.0 litre) will deter many second-hand (especially younger) buyers
- the technical complexity of the 1.4 litre will make many second-hand buyers wary (fear of big repair bills)
The Scirocco is a great car but it does not have the cachet of say the original Audi TT in it's first few years when residuals were excellent.

[steve]

If sales of new cars are slow now, then there will be fewer second hand cars on the market when you come to sell yours, this should help keep the price up a little.

In the meantime, just try enjoy driving it. That's what it's for right? :-)

[DavidH]

Used prices are down across the board though ,or so it seems, everybody's in the same boat. I'm keeping mine for a few years so hopefully the market will have picked up by then, because i like to buy new, the only used car i've owned was my first car.

You've still bought one of the better new cars out there in terms of residuals. People trying to offload nearly new 4x4s or big sallons are taking massive hits right now.