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3 year old cars - PCP returns

  • 27-02-2024 5:22pm
    #1
    pah
    Registered Users, Registered Users 2 Posts: 3,663 ✭✭✭


    In the market for a 7 seater and looking specifically at the Kodiaq Sportline or Kia Sorento PHEV.


    Is it me or are second hand prices on 3 year old cars very high. All K4 spec Sorentos with dealers range from 49k to 54k with mileag around the 60k kms mark on average. Now a new Sorento PHEV is 60,595 so 11.5k drop at best and a 6.5k drop at worst.

    Similarily a base Kodiaq Sportline is around 59,945 but a 3 year old one with an average of 70k kms is going from 45k to 55k.


    So between 10% to 25% depreciation over 3 years at the extreme ranges.

    Madness, or normal these days?


    These are mostly PCP returns after the 3 years. Anybody returned a PCP deal could shed some light on the trade in value vs resale.



Comments

  • #2
    colm_mcm
    Registered Users, Registered Users 2 Posts: 73,520 ✭✭✭✭colm_mcm


    The new price went up dramatically in the last few years in a lot of cases.



  • #3
    pah
    Registered Users, Registered Users 2 Posts: 3,663 ✭✭✭pah


    https://www.boards.ie/discussion/comment/121824945#Comment_121824945

    Well taking that into account the depreciation from original purchase price is even less!



  • #4
    Buddy Bubs
    Registered Users, Registered Users 2 Posts: 4,474 ✭✭✭Buddy Bubs


    https://www.boards.ie/discussion/comment/121824962#Comment_121824962

    Used prices more correlated to price of a new purchase price today rather than new purchase price 3 years ago.

    The purchase price in 2020/21 is actually irrelevant now to be honest.



  • #5
    pah
    Registered Users, Registered Users 2 Posts: 3,663 ✭✭✭pah


    Buying new seems like a better option.



  • #6
    pajosjunkbox
    Registered Users, Registered Users 2 Posts: 375 ✭✭pajosjunkbox


    I bought a new Sorento PHEV 2 years ago because of this. Gave 53k for a K3 model as used prices were nuts.

    I was looking at the kodiaq at the time. Still love them but there was value 2nd hand.



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  • #7
    pah
    Registered Users, Registered Users 2 Posts: 3,663 ✭✭✭pah


    https://www.boards.ie/discussion/comment/121828778#Comment_121828778

    I've spotted a 222 K4 with only 9k kms private sale in Tipp @ €53k What would you think?



  • #8
    Casati
    Registered Users, Registered Users 2 Posts: 3,053 ✭✭✭Casati


    The fact that a car was bought in PCP, HP or cash originally have no impact on it used price. The market dictates used pricing and you are looking at some of the lowest depreciating / most in demand used cars - others like Tiguan, Tiguan Allspace and RAV4 fall into this category. In my opinion you are better off buying these cars brand new and trading two or three years. I was quoted 9k to trade up a Allspace after two years, a Kia dealer told me he was able to upgrade two year old Sorento’s for similar money.

    Both the Sorento and Kodiaq are being replaced by all new models - which are up in price. The current models will still be in high demand used mind you but something to be aware of. I’d go with the base new model Kodiaq for around 56k if you can wait till July rather than spend 52k on a used Sorento but I get that it’s a lot of money to shell out.



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