How much will my car depreciate?

[DaveShoelace]

Random Q

2012 Ford Fiesta, I got nearly new (only 900 miles on it) and is coming to the end of the credit agreement. Its still low mileage and in great nick. Final payment if I want to keep it is £4700, but I can exchange it or give it back for nowt, and its actually valued at £5300-5500.

I'm probably going to buy it outright. I work from home so it's a luxury for me and the reason I fancy buying outright is because I don't really need it, so if I ever needed the money I can just sell it and although I probably won't get the £4700 back exactly, maybe I'd get £3900 or £3500 or whatever.

So my question is, if its valued at £5300 today, how much do you think it would be valued at in say 1 year, 2 years and 5 years time? Obviously thats a piece of string type of question, but wondering how much I should expect a car like this to depreciate from here on in to see if my 'I can always flog it' logic has any sort of merit.

Again, it will continue to be low mileage and full service history etc

[RED-DOG]

Random Q

2012 Ford Fiesta, I got nearly new (only 900 miles on it) and is coming to the end of the credit agreement. Its still low mileage and in great nick. Final payment if I want to keep it is £4700, but I can exchange it or give it back for nowt, and its actually valued at £5300-5500.

I'm probably going to buy it outright. I work from home so it's a luxury for me and the reason I fancy buying outright is because I don't really need it, so if I ever needed the money I can just sell it and although I probably won't get the £4700 back exactly, maybe I'd get £3900 or £3500 or whatever.

So my question is, if its valued at £5300 today, how much do you think it would be valued at in say 1 year, 2 years and 5 years time? Obviously thats a piece of string type of question, but wondering how much I should expect a car like this to depreciate from here on in to see if my 'I can always flog it' logic has any sort of merit.

Again, it will continue to be low mileage and full service history etc

It will lose a grand ish in the next year, £500 for each of the following two years, and a couple of hundo a year after that.

ish.

[neeko]

Random Q

2012 Ford Fiesta, I got nearly new (only 900 miles on it) and is coming to the end of the credit agreement. Its still low mileage and in great nick. Final payment if I want to keep it is £4700, but I can exchange it or give it back for nowt, and its actually valued at £5300-5500.

I'm probably going to buy it outright. I work from home so it's a luxury for me and the reason I fancy buying outright is because I don't really need it, so if I ever needed the money I can just sell it and although I probably won't get the £4700 back exactly, maybe I'd get £3900 or £3500 or whatever.

So my question is, if its valued at £5300 today, how much do you think it would be valued at in say 1 year, 2 years and 5 years time? Obviously thats a piece of string type of question, but wondering how much I should expect a car like this to depreciate from here on in to see if my 'I can always flog it' logic has any sort of merit.

Again, it will continue to be low mileage and full service history etc

If you buy a new one it will lose £5k in the first year

[DaveShoelace]

Random Q

2012 Ford Fiesta, I got nearly new (only 900 miles on it) and is coming to the end of the credit agreement. Its still low mileage and in great nick. Final payment if I want to keep it is £4700, but I can exchange it or give it back for nowt, and its actually valued at £5300-5500.

I'm probably going to buy it outright. I work from home so it's a luxury for me and the reason I fancy buying outright is because I don't really need it, so if I ever needed the money I can just sell it and although I probably won't get the £4700 back exactly, maybe I'd get £3900 or £3500 or whatever.

So my question is, if its valued at £5300 today, how much do you think it would be valued at in say 1 year, 2 years and 5 years time? Obviously thats a piece of string type of question, but wondering how much I should expect a car like this to depreciate from here on in to see if my 'I can always flog it' logic has any sort of merit.

Again, it will continue to be low mileage and full service history etc

It will lose a grand ish in the next year, £500 for each of the following two years, and a couple of hundo a year after that.

ish.

Thats roughly what I was expecting, cheers Thomas

[DaveShoelace]

Random Q

2012 Ford Fiesta, I got nearly new (only 900 miles on it) and is coming to the end of the credit agreement. Its still low mileage and in great nick. Final payment if I want to keep it is £4700, but I can exchange it or give it back for nowt, and its actually valued at £5300-5500.

I'm probably going to buy it outright. I work from home so it's a luxury for me and the reason I fancy buying outright is because I don't really need it, so if I ever needed the money I can just sell it and although I probably won't get the £4700 back exactly, maybe I'd get £3900 or £3500 or whatever.

So my question is, if its valued at £5300 today, how much do you think it would be valued at in say 1 year, 2 years and 5 years time? Obviously thats a piece of string type of question, but wondering how much I should expect a car like this to depreciate from here on in to see if my 'I can always flog it' logic has any sort of merit.

Again, it will continue to be low mileage and full service history etc

If you buy a new one it will lose £5k in the first year

Yep deffo wont be doing that

[exstream]

no need to shell out thousands for something you dont need

[DaveShoelace]

no need to shell out thousands for something you dont need

Well I want it, I can afford it and based on my (possibly clumsy) logic in the OP I don't necessarily consider it shelling out thousands because it is an asset I can sell and get most of the thousands back.

[RED-DOG]

no need to shell out thousands for something you dont need

Well I want it, I can afford it and based on my (possibly clumsy) logic in the OP I don't necessarily consider it shelling out thousands because it is an asset I can sell and get most of the thousands back.

Buy it. You know it's history and it's relatively cheap.

[RED-DOG]

BTW- have you tried bidding them like.... £4250?

[DaveShoelace]

BTW- have you tried bidding them like.... £4250?

Yeah I'm going to give it a go (its April it comes up), not going to hold my breath as its a call centre and they'll have a very prescribed way of handling hagglers no doubt. I might get some furry dice out of it.

[EvilPie]

no need to shell out thousands for something you dont need

Well I want it, I can afford it and based on my (possibly clumsy) logic in the OP I don't necessarily consider it shelling out thousands because it is an asset I can sell and get most of the thousands back.

Buy it. You know it's history and it's relatively cheap.

And you know how the filler cap works.

[DaveShoelace]

no need to shell out thousands for something you dont need

Well I want it, I can afford it and based on my (possibly clumsy) logic in the OP I don't necessarily consider it shelling out thousands because it is an asset I can sell and get most of the thousands back.

Buy it. You know it's history and it's relatively cheap.

And you know how the filler cap works.

Superb callback, yes that was the first thing I boned up on when I got it.

[Sheriff Fatman]

How far back does the particular model go?

Can you not just look at the valuations for the equivalent 2011, 2010, 2009 models, etc to see how much lower they are from the 2012 model, which will give you a pretty good indication of ongoing depreciation.

[DaveShoelace]

How far back does the particular model go?

Can you not just look at the valuations for the equivalent 2011, 2010, 2009 models, etc to see how much lower they are from the 2012 model, which will give you a pretty good indication of ongoing depreciation.

Ok here is where my expertise gets exposed, erm, it's a white one?

Good point I'll have a look into it.

[EvilPie]

Speak to the finance company and ask how much it'll cost to re-finance for a further three years. They'll give you a new monthly figure including a new figure to pay it off again in three years. There's your magic number.

Possible drawback to this is that they might not re-finance cars that are 5 years old but worth an ask.