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Buying a car for 6 months, Depreciation

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  • 30-04-2007 12:35pm
    #1
    mcdonnst
    Registered Users Posts: 230 ✭✭


    I will be getting a company car in about 6 months.

    My current car is on the way out. I need to get a new one.

    If I buy a car, say a 2003 Hyundai Coupe for about 13 or 14k

    How much will I loose when I go to sell it in 6 months.

    Say for oth a dealer or private?

    Cheers


Comments

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    #2
    gucci
    Registered Users Posts: 4,277 ✭✭✭gucci


    you'll probably loose a grand at least on it, depends on who you sell it too. if you can afford to sell it private you might get a big fecking eejit who would pay the same as you do but you might be a while waiting for one of them....cos i dont want a hyandi coupe!!:D


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    #3
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,631 Mod ✭✭✭✭Henry Ford III


    I'd buy something older in top nick.


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    #4
    mcdonnst
    Registered Users Posts: 230 ✭✭mcdonnst


    Thanks fro the replys.

    would I be better buying a golf. They keep their vaule well I gather


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    #5
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    buy a desirable low mileage high spec example and you'll have little or no depreciation.

    if its a golf itd want to be one with a decent engine leather seats etc

    id be more inclined to get a 00/01 bmw coupe


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    #6
    drdre
    Closed Accounts Posts: 8,245 ✭✭✭drdre


    Yeah VW hold there value well, get the golf but the other problem is it might not sell really quickly as theres LOADS on carzone


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    #7
    bazz26
    Registered Users Posts: 51,140 ✭✭✭✭bazz26


    Buy a late 1990s small car like a Fiesta, etc with at least 1 years NCT left on it. In 6 months time chances are you will sell it on at almost the same price you paid for it.

    Older cars have already suffered from high depreciation at this stage. The newer the car the higher the depreciation it looses.


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    #8
    unkel
    Registered Users Posts: 64,851 ✭✭✭✭unkel


    Lots of (maybe conflicting) advice, but I would go with the safe and prudent option:
    bazz26 wrote:
    Buy a late 1990s small car like a Fiesta, etc with at least 1 years NCT left on it. In 6 months time chances are you will sell it on at almost the same price you paid for it.

    Indeed. Depending on your buying and selling skills, the worst case scenario looks like a quick sale down a few hundred. The best case looks
    like a quick sale down nowt :)


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