Advice on what to do with new car

dellas1979

Ok. I bought a new car this year. I bought it with the intent to sell it towards the end of the year and upgrade to a (slightly) bigger car (was thinking an alfa mito but not sure)- I am wondering if I am making the right decision or will I loose loads?

Its a 2010 1.2 fiat 500 with metallic and alloys (5k on clock).

Pure novice at this. I have a very small loan on the car (€20 per week).

mercservices

dellas1979 wrote: »

Ok. I bought a new car this year. I bought it with the intent to sell it towards the end of the year and upgrade to a (slightly) bigger car (was thinking an alfa mito but not sure)- I am wondering if I am making the right decision or will I loose loads?

Its a 2010 1.2 fiat 500 with metallic and alloys (5k on clock).

Pure novice at this. I have a very small loan on the car (€20 per week).

Your gonna lose on it anyway,just how much your prepared to lose is the question, is the loan secured on the car? if so ya cant sell it before its repayed

ARGINITE

Beaten too it.

Your gonna lose on it anyway,just how much your prepared to lose is the question

Eric Cartman

dellas1979 wrote: »

Ok. I bought a new car this year. I bought it with the intent to sell it towards the end of the year and upgrade to a (slightly) bigger car (was thinking an alfa mito but not sure)- I am wondering if I am making the right decision or will I loose loads?

Its a 2010 1.2 fiat 500 with metallic and alloys (5k on clock).

Pure novice at this. I have a very small loan on the car (€20 per week).

no offence to your choice of car or anything but the typical market for such a car is a teenage/early 20's girl who has a daddy with more money than sense, the type of daddy who would just buy a new one off the car dealer he plays golf with. sorry to say your going to lose a fair bit on this one mate

dellas1979

Ok, when you say "loose a lot" what do ye mean - what/how much are you talking? This is where I fall as I know nothing about cars
I wasnt thinking I was going to make a profit on the car... its a depreciating asset (like most things on this island at this stage).
Its 20 quid a week on the loan - I only got the loan to get some credit history.

Eric Cartman

ok well you say its new (aka 2010) well take the list price of a brand new 2010 model , and take 20% / 5 grand (whichever is higher) off and thats probably what youll get for it

dellas1979

Eric Cartman wrote: »

no offence to your choice of car or anything but the typical market for such a car is a teenage/early 20's girl who has a daddy with more money than sense, the type of daddy who would just buy a new one off the car dealer he plays golf with. sorry to say your going to lose a fair bit on this one mate

That is a really really cheesy analagy. Are you a consumer expert? No offence - if you are I will take your opinion. Otherwise you are casting a biased view.

heffomike54

dellas1979 wrote: »

Ok, when you say "loose a lot" what do ye mean - what/how much are you talking? This is where I fall as I know nothing about cars
I wasnt thinking I was going to make a profit on the car... its a depreciating asset (like most things on this island at this stage).
Its 20 quid a week on the loan - I only got the loan to get some credit history.

If you only got the loan to get some credit history, I suggest you just drive the car yourself.

ARGINITE

How much is your current car worth, 12K?

Mitos are going for about 17 - 18K

17 - 12 = 5.

Very rough figures.

Big Nasty

Back in '04 when all the Daddy's girls were looking for Cooper S's after watching the re-made Italian Job there was a 3+ month waiting list on them (pretty much unheard of at the time as both dealers and distributors were stocking to the hilt). If honey's birthday was coming up and she wanted a Cooper S you could have sold your brand new €27k Cooper S for €35k on the spot!*





*My figures might be slightly off but you get the jist.

dellas1979

Scchh.

20% off the list price (with metallic and alloys) covers more than what I paid for it through negotiating and scrappage scheme.


If you sold your car, would you not want the best price/deal?

Just trying to inform myself here.

Yes I know how much a Mito (may) cost and the difference.

dellas1979

MCMLXXV wrote: »

Back in '04 when all the Daddy's girls were looking for Cooper S's after watching the re-made Italian Job there was a 3+ month waiting list on them (pretty much unheard of at the time as both dealers and distributors were stocking to the hilt). If honey's birthday was coming up and she wanted a Cooper S you could have sold your brand new €27k Cooper S for €35k on the spot!*





*My figures might be slightly off but you get the jist.

Dont know why you are writing this here....what are you trying to say?

Why all of a sudden are you likening me to someone called "honey"?

Is it not possible that it is actually a fab car, excellent on petrol and really nice to drive (ever watch top gear?).

Big Nasty

dellas1979 wrote: »

Dont know why you are writing this here....what are you trying to say?

Why all of a sudden are you likening me to someone called "honey"?

Is it not possible that it is actually a fab car, excellent on petrol and really nice to drive (ever watch top gear?).

I do the odd time but IMO it's just a feature where they exhibit the cars Clarkson likes and nothing else. That said the Cooper S, JCW and 500 Abarth are fine cars, if you can fit in to them!

kyote00

The Fiat 500 is an excellent car which will in time reach iconic status (like its classic predecessor)

In the rest of Europe, the car is driven by all shapes and sizes of people - the fact that its mainly driven by women in Ireland is an indication of the dense, xenophobic mind of the average male irish driver.

All that say, you will absolutely not (never ever ever x 100) make a profit buying a new car and selling it a few months later

I am also not sure how the scrappage will play out -- i.e. if two 500's are on the market, one was brought on scrappage and cost the owner €1500 less than one bought without scrappage....

dellas1979 wrote: »

Ok, when you say "loose a lot" what do ye mean - what/how much are you talking? This is where I fall as I know nothing about cars
I wasnt thinking I was going to make a profit on the car... its a depreciating asset (like most things on this island at this stage).
Its 20 quid a week on the loan - I only got the loan to get some credit history.

Eric Cartman

dellas1979 wrote: »

That is a really really cheesy analagy. Are you a consumer expert? No offence - if you are I will take your opinion. Otherwise you are casting a biased view.

not a consumer expert but i sell a lot of things to a lot of people , and im quite good at judging who will buy what, there is very little male appeal for a fiat 500 , its just the truth, im not saying theres none, but theres not a lot , for the money that car costs new there are far better options in terms of design, resale value, reliability and size - that being my opinion but id say a quite common opinion, the fiat 500 is more a fashion statement than a driving machine and the general buyer tends to be young, female, well off (or have a well off family) and buying for that reason

dellas1979

Well Im a 5 7 single lady (i.e. I am average size and no kiddies) so why not drive something like this.
I drive 45mins each way for work 5 days a week and it costs me €20. road tax is €104 per year. There are lots of incentives to driving a little car. Ok, safety-wise you are compromising a little but it has 7 airbags.

mercservices

dellas1979 wrote: »

Dont know why you are writing this here....what are you trying to say?

your guess is as good as mine....The loss will depend on how good a deal you got when you bought it, best bet is call were you got it and tell them your gonna sell it private,ask for their advice on how much to look for it.

Nonoperational

I think the 500 is a v nice car.

goat2

MCMLXXV wrote: »

I do the odd time but IMO it's just a feature where they exhibit the cars Clarkson likes and nothing else. That said the Cooper S, JCW and 500 Abarth are fine cars, if you can fit in to them!

do you mean you are selling this car twoards the last four months of this year, then it will be truely second hand ten grand down, as you are heading into the next year

dellas1979

kyote00 wrote: »

I am also not sure how the scrappage will play out -- i.e. if two 500's are on the market, one was brought on scrappage and cost the owner €1500 less than one bought without scrappage....

You hit the nail on the head - I could sell the car for what I bought it for and still be at least 4k less expensive than what non scrappage ones. There was a thread on this a few months ago.

Am wee bit confused. Should I sell now, or hold onto it till end of year or what? Genuine question. Not trying to rise people which I seem to be doing.

Owen

Don't mind any of the 'spoiled-brat' nonsense. You've asked for an idea of what your car would be worth. Even if it's 2010, you'll be competing against main dealers selling their own ex-demos. So yours needs to be cheaper to sell as prospective customers would favour buying a 2010 from a garage.

Find the cheapest 2010 online, and advertise yours for 250 less. Be prepared to take up to 750 less with haggling.

IMO? Keep it. Fantastic car, and despite the size, they're pretty safe. It's got a 5 star NCAP rating, which is as good as it gets.

dellas1979

goat2 wrote: »

do you mean you are selling this car twoards the last four months of this year, then it will be truely second hand ten grand down, as you are heading into the next year

Rise out of me please.

I know it will depreciate but come on.

its like people are "gleeing" telling me things like this. Typical irish.

thanks for the genuine comments people. Anyone any valid and constructive advice, more than welcome to post.

Anan1

dellas1979 wrote: »

You hit the nail on the head - I could sell the car for what I bought it for and still be at least 4k less expensive than what non scrappage ones. There was a thread on this a few months ago.

Am wee bit confused. Should I sell now, or hold onto it till end of year or what? Genuine question. Not trying to rise people which I seem to be doing.

Do you like your current car? By that I mean is there anything important it's not giving you that a Mito would? If not then why not just hold onto it? I really like the 500 (and i'm a man!)

Eric Cartman

dellas1979 wrote: »

Well Im a 5 7 single lady (i.e. I am average size and no kiddies) so why not drive something like this.
I drive 45mins each way for work 5 days a week and it costs me €20. road tax is €104 per year. There are lots of incentives to driving a little car. Ok, safety-wise you are compromising a little but it has 7 airbags.

yeah thats exactly why it suits you , and im sure its a nice car for your lifestyle , but to somebody with kids, a rep having to do a serious mileage, a first time driver who just needs something really cheap , a male who doesnt want to look a bit feminine, somebody who needs to transport a lot of goods/luggage, somebody who wants to use their car as a statement of luxury, long distance drivers, - it doesnt suit any of those people , hence you will have a problem getting what you paid for it as private sellers will overlook it as its too high priced in general compared to similar sized cars, dealers will give you a bad trade-in as they have to shift it again by hoping another single young female walks through the door and doesnt have the reddies to buy a new one
cheap

MagicMarker

I'm still trying to figure out why you bought the car in the first place tbh. Clearly not to build credit seeing as you were able to get the loan in the first place!!

dellas1979

Eric Cartman wrote: »

the fiat 500 is more a fashion statement than a driving machine and the general buyer tends to be young, female, well off (or have a well off family) and buying for that reason

Eh?
Are you for real?
The first part of your statement is inaccurate and the second part is completely untrue (bar the female part )

A driving machine? Jaysus I didnt know the 500 was down-graded to Barney Rubble status. Must get my legs ready for the morning journey to work.

dellas1979

Eric Cartman wrote: »

yeah thats exactly why it suits you , and im sure its a nice car for your lifestyle , but to somebody with kids, a rep having to do a serious mileage, a first time driver who just needs something really cheap , a male who doesnt want to look a bit feminine, somebody who needs to transport a lot of goods/luggage, somebody who wants to use their car as a statement of luxury, long distance drivers, - it doesnt suit any of those people , hence you will have a problem getting what you paid for it as private sellers will overlook it as its too high priced in general compared to similar sized cars, dealers will give you a bad trade-in as they have to shift it again by hoping another single young female walks through the door and doesnt have the reddies to buy a new one
cheap

Nah - you cant please everyone. This is true in every aspect of life. Of course it doesnt suit someone with kiddies - thats obvious. Male driver? Well, Ive seen a "male" driving one.

Who, exactly, do you think buy the ka's, micra's etc of this world?

And TBH why would I want to buy a big gas guzzler/long distance car?

Of course I am going to buy something that suits me.

Do you own a 2010 car or ever owned a new one?

Big Nasty

dellas1979 wrote: »

Eh?
Are you for real?
The first part of your statement is inaccurate and the second part is completely untrue (bar the female part )

A driving machine? Jaysus I didnt know the 500 was down-graded to Barney Rubble status. Must get my legs ready for the morning journey to work.

I saw a 55+ year old man driving a white one recently (not an Abarth), I was thinking WTF is he doing in that but kept quiet, my GF openly laughed her head off at him!

Anan1

Christ lads, would you give it a rest? The OP wants to know how much she'd get for her car, not whether she should have bought it, not your hypotheses on the target demographic of such a car etc etc.

goat2

dellas1979 wrote: »

Rise out of me please.

I know it will depreciate but come on.

its like people are "gleeing" telling me things like this. Typical irish.

thanks for the genuine comments people. Anyone any valid and constructive advice, more than welcome to post.

not rising you
bought start of year
selling end of year
it will be a yr old,
definately not rising anyone
i would see that car as a yr old if i bought end of yr as i could not call it a new car a few weeks after buying

dellas1979

MagicMarker wrote: »

I'm still trying to figure out why you bought the car in the first place tbh. Clearly not to build credit seeing as you were able to get the loan in the first place!!

its an evil plan to take over the world -wah ha ha ha

Seriously, I needed a car (old one carked it). I saved up to buy a new one (plus scappage scheme). In the meantime I realise I dont have any credit history (which I believe comes in handy) so at e20 a week I say yes Ill take a loan. Look im being honest - I put the finance thing in as I guess I wanted to know what people thought of selling the car in general.

Eric Cartman

dellas1979 wrote: »

Eh?
Are you for real?
The first part of your statement is inaccurate and the second part is completely untrue (bar the female part )

A driving machine? Jaysus I didnt know the 500 was down-graded to Barney Rubble status. Must get my legs ready for the morning journey to work.

im serious , what attracted you to the fiat 500 over say the likes of a 1 series bmw or a fiesta or a peugot 206 or a hyundai i10 / i20 with the exception of the bmw the others are all in sub 150 euro tax brackets, are more practical and are cheaper , and none of them ugly looking cars by any stretch , with the exception of the abarth 500 i think the fiat is one of the least powerful in that list , the hyundais have longer warranty and are bulletproof reliable , the fiesta and 206 made names for them selves as popular economical small cars and would be very easy to resell , the 1 series bmw is there for people who like badges and want a small car with luxury , the fiat 500 is sold because of its looks, and thats its main selling point, its looks, not whats underneath, not its raw power or excellent handling, its looks and the low tax are what fiat market it for , and you pay for those looks because the money wasnt a problem, if you were tight for money on it you would have looked harder and chosen another car

Eric Cartman

dellas1979 wrote: »

Nah - you cant please everyone. This is true in every aspect of life. Of course it doesnt suit someone with kiddies - thats obvious. Male driver? Well, Ive seen a "male" driving one.

Who, exactly, do you think buy the ka's, micra's etc of this world?

And TBH why would I want to buy a big gas guzzler/long distance car?

Of course I am going to buy something that suits me.

Do you own a 2010 car or ever owned a new one?

have my new isuzu D-max crewcab on order , reliable, powerful, good looking, perfect for hauling things, decent on fuel, 288 euro tax, very re-sellable

goat2

dellas1979 wrote: »

its an evil plan to take over the world -wah ha ha ha

Seriously, I needed a car (old one carked it). I saved up to buy a new one (plus scappage scheme). In the meantime I realise I dont have any credit history (which I believe comes in handy) so at e20 a week I say yes Ill take a loan. Look im being honest - I put the finance thing in as I guess I wanted to know what people thought of selling the car in general.

i bought a new car 12 yrs ago, i still have that car, i would not part with it, and i definately would never again buy a new car, it loses too much in first yr

dellas1979

goat2 wrote: »

not rising you
bought start of year
selling end of year
it will be a yr old,
definately not rising anyone
i would see that car as a yr old if i bought end of yr as i could not call it a new car a few weeks after buying

Ok, ok...so when should I sell it then, in your opinion, in order to get a decent price. this is all I was asking...

Yes, again, I am not looking to make money I just want to know what would people do in my situation. I bought it with intent to move on - I just want to know what the best option may be.

Anan1

Eric Cartman wrote: »

im serious , what attracted you to the fiat 500 over say the likes of a 1 series bmw or a fiesta or a peugot 206 or a hyundai i10 / i20 with the exception of the bmw the others are all in sub 150 euro tax brackets, are more practical and are cheaper , and none of them ugly looking cars by any stretch , with the exception of the abarth 500 i think the fiat is one of the least powerful in that list , the hyundais have longer warranty and are bulletproof reliable , the fiesta and 206 made names for them selves as popular economical small cars and would be very easy to resell , the 1 series bmw is there for people who like badges and want a small car with luxury , the fiat 500 is sold because of its looks, and thats its main selling point, its looks, not whats underneath, not its raw power or excellent handling, its looks and the low tax are what fiat market it for , and you pay for those looks because the money wasnt a problem, if you were tight for money on it you would have looked harder and chosen another car

Banned for a week for disregarding a mod warning.

dellas1979

goat2 wrote: »

i bought a new car 12 yrs ago, i still have that car, i would not part with it, and i definately would never again buy a new car, it loses too much in first yr

Good for you Goat, but your old car is still going. Mine wasnt. See the problem?

Anan1

dellas1979 wrote: »

Ok, ok...so when should I sell it then, in your opinion, in order to get a decent price. this is all I was asking...

Yes, again, I am not looking to make money I just want to know what would people do in my situation. I bought it with intent to move on - I just want to know what the best option may be.

It really depends on what you mean by a decent price. Cars depreciate fast when they're new, the curve flattens out as the car ages. If you're happy with it then the most financially sound advice is to keep it.

dellas1979

Eric Cartman wrote: »

have my new isuzu D-max crewcab on order , reliable, powerful, good looking, perfect for hauling things, decent on fuel, 288 euro tax, very re-sellable

Good for you.
Hope you enjoy it and no one hassles you over why you chose it. I dont see the attraction to your car BTW but I am not going to push you. Good luck with the resell.

Shur I guess its all relative.

dellas1979

Anan1 wrote: »

It really depends on what you mean by a decent price. Cars depreciate fast when they're new, the curve flattens out as the car ages. If you're happy with it then the most financially sound advice is to keep it.

didnt know this

Big Nasty

Anan1 wrote: »

Christ lads, would you give it a rest? The OP wants to know how much she'd get for her car, not whether she should have bought it, not your hypotheses on the target demographic of such a car etc etc.

Who said it was a 'her'? How dare you be so judgemental!

kyote00

I'd say he trying to compensate for something....:D

Eric Cartman wrote: »

have my new isuzu D-max crewcab on order , reliable, powerful, good looking, perfect for hauling things, decent on fuel, 288 euro tax, very re-sellable

dellas1979 wrote: »

Good for you.
Hope you enjoy it and no one hassles you over why you chose it. I dont see the attraction to your car BTW but I am not going to push you. Good luck with the resell.

Shur I guess its all relative.

Guy:Incognito

goat2 wrote: »

i bought a new car 12 yrs ago, i still have that car, i would not part with it, and i definately would never again buy a new car, it loses too much in first yr

If your not selling it it doesnt lose a penny.

If you were going to keep your car for years again then a new car would be ideal for the likes of you. It's the people buying new and getting rid within he first few years that get the hit.

dellas1979

Gosh I said in my post I was female. Beside the point.

you cant say a 2010 car worth 15k is now worth 5k based on your sons 26k car.

Eric Cartman

kyote00 wrote: »

I'd say he trying to compensate for something....:D

id say its a bitchin pickup that i got an absoloute cracker of a deal on

dellas1979 wrote: »

Gosh I said in my post I was female. Beside the point.

you cant say a 2010 car worth 15k is now worth 5k based on your sons 26k car.

yeah its not going to devalue that much, id say 20-25% of its list value is gone though, thats a fair estimate

goat2

i did not know it was 15 k in the first place
how many miles have been put up
even if it is small milage
you will be lucky to get ten thousand
as it will be seen as a yr old

dellas1979

"that i got an absoloute cracker of a deal on"
thats what I said about mine

CosmicJay

Hey Guys.

First post here so be gentle. As far as I can tell people are just trying to say the Fiat 500 is a very ''flavour of the month car''. Cracking city car and nice to drive but there are cheaper alternatives, also really a narrow market aswell. Most people are thinking with their wallets now rather than impulse buys. From what I can see most second hand 1.2's are going for 10-11k. You might get a bit extra for alloy wheels or extra options.

I would say if you have the cash to splash get a new car. But be prepared to take a big hit. Alfa mito's are nice but could'nt you wait a bit and get one second hand? Maybe a demo or something, You would save a good few thousand.

Or you can do what I do and drive an 11 year old polo with an exhaust repaired with a tin can and some Jubilee clips. :cool:

P.s A D-max is for scumbags who totally shout at people with PA systems. :pac:

Vertakill

Wow, OP got a serious backlash over... well I still haven't figured out why..

Anyways, Anan1 probably gave you the best advice so far. If I were you, I'd probably keep it. You clearly like the car and you'd lose your bollo... well you'd lose a lot of money.

Makes literally no financial sense to buy a car brand new and sell it within the same year.

What you should have done, and what you may do next time you're in the market, is look for the eejit that's selling their 5 month old car for a fraction of what it drove off the forecourt for.

EPM

Talk about a thread being derailed with crap!

OP - Paint Doctor gave the best advice if you want to sell privately and then buy your new car straight.

If you are trading in - it will probably cost you more but it's more convenient. You may be able to swing a deal if the dealer has a car in stock that suits/has a customer lined up. Can't see a major problem with your own selling so I'd go private and price it right.

Cheapest online with scrappage seems to be about 10k. I don't know what the price without is. You will at least need to match this imo pricewise

alias no.9

Regardless of what you paid for it, the value of your current car has already taken the initial hit compared to the value of a new car. The question is not what to do with your current car but whether you want to take that hit in value again on another new car? If you waited a year and bought a year old Mito, it would probably make more financial sense, but that doesn't have to be everybodys no.1 priority.

Eric, good luck with the d-max but don't count on strong residuals on any commercial in this weather.