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New models of cars

  • 10-12-2012 8:45pm
    #1
    from_atozinc
    Banned (with Prison Access) Posts: 2,943 ✭✭✭


    Just wondering. If a new model of a car comes out, does it tend to affect prices much on the old model of the car ?

    Similar when we cross to the new year will that affect prices much on a 2nd hand car for sale as the car will essentially look like its a year older ?


Comments

  • #2
    Alanstrainor
    Registered Users, Registered Users 2 Posts: 23,157 ✭✭✭✭Alanstrainor


    It sure does.


  • #3
    MuppetCheck
    Registered Users, Registered Users 2 Posts: 11,865 ✭✭✭✭MuppetCheck


    Depends on the car and it's current pricing. Some might be already reduced but it would normally have an adverse effect on the previous model.


  • #4
    coylemj
    Registered Users, Registered Users 2 Posts: 25,622 ✭✭✭✭coylemj


    from_atozinc wrote: »
    Just wondering. If a new model of a car comes out, does it tend to affect prices much on the old model of the car ?

    There wouldn't be an immediate effect on the value of the older model, this starts to happen roughly three years after the new model is announced when ex-lease versions of the new model start to hit the secondhand market, that's when the value of the older model starts to take a hit

    There's also the 'midlife refresh/facelift' issue to consider. Midway through a model's life, the manufacturer typically tarts it up with extra features to give it a new lease of life. When secondhand examples of the new model start to appear on dealers' forecourts, the early versions of the previous model will take a big hit as most people going for the earlier model will typically look for examples that have the additional features so early versions of the previous model will depreciate rapidly.


  • #5
    CianRyan
    Registered Users, Registered Users 2 Posts: 14,721 ✭✭✭✭CianRyan


    Alanstrainor wrote: »
    It sure does.

    So insightful, please tell me more sensei.


  • #6
    from_atozinc
    Banned (with Prison Access) Posts: 2,943 ✭✭✭from_atozinc


    coylemj wrote: »

    There wouldn't be an immediate effect on the value of the older model, this starts to happen roughly three years after the new model is announced when ex-lease versions of the new model start to hit the secondhand market, that's when the value of the older model starts to take a hit

    There's also the 'midlife refresh/facelift' issue to consider. Midway through a model's life, the manufacturer typically tarts it up with extra features to give it a new lease of life. When secondhand examples of the new model start to appear on dealers' forecourts, the early versions of the previous model will take a big hit as most people going for the earlier model will typically look for examples that have the additional features so early versions of the previous model will depreciate rapidly.


    Excellent reply, thanks.


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