Used market

[ChrisLF]

Without having the options list, it hard to remember or compare - their was no option list on the first edition as it had all the conceivable items that could be fitted to the car, lane controls, pop up displays, 360 cameras, 22" rims, pan-roofs, heated screens etc. Metallic was included, petrol diesel had no price difference, all you needed to do was choose the colour and sub £35k.

Nothing much then really apart from the big rims?

The D4 was £39305 and the the T5 £40355 on the road.

But they were certainly Oldies but goodies!

[Deleted User 4737]

Does it need to be much if items missing are the most desirable for many in this sector, like AWD, and in your example, flappy paddles?

[stu22]

COVID did make a mess of lot of things, not only peoples health!

We traded our XC40 in the midst of COVID, 30 month old problematic T3 R-Design, against a new XC60 B5P and only had to put 16k in the pot which was very good IMHO. Bet wouldn't get anything like that deal now - think all residuals have taken a bit of a hit....

[ChrisLF]

That was a good deal.

[Stovo]

To be fair to Volvo they are not the only ones where the ‘bean counters’ have had an affect. Have any of you notice how small a McVities Chocolate Digestive is now, how many Jaffa Cakes you now get in a packet, and with Xmas around the corner, don’t get me started on Quality Street/Roses/Celebrations tubs! Maybe a separate thread required on this one!

[Den48]

Hi, thanks for the replies,some interesting stuff in there.

Bear with me some more numbers.
Bought the car end of may 23 on a 3 year pcp, price before any discount £ 44335, guaranteed minimum value £26641 more or less 60% of the retail price , ok

Used the car configuration for a new xc40 , the part ex given was £30300 so based on the current part ex figure and the GMV above my car will depreciate a further £3659 in the next 30 months???

Conclusion from me
PCP deals are as I understand it, are supposed to leave some equity in the car to encourage a further purchase, can’t see that happening.
Cars may be handed back to the dealer at the end of the contract at the GMV price that is potentially more than the market value.

[Cevoli21]

On a PCP you are basically paying off the expected depreciation. You may get lucky and have some equity but the real risk lies with the finance outfit or manufacturer (often the same). If depreciation is greater than predicted they have to take it on the chin. It's a part of the reason why PCPs are so popular. The consumer may win but also cant really lose. At least thats how I think it works!

[ChrisLF]

Yeah, I've had a number of cars on PCP, VWs, Audis, Skoda and my first Volvo, but despite one of the advantages of PCP being any additional value over and above the FGV going towards a new car it never materialised apart from with my Volvo where the FGV was £17k. (which I paid off in July to give me options) and the part-ex was £24500 due to the XC40s excellent residuals.

Due to the aforementioned drop in used car values I doubt that will happen again, at least to the same extent. Lucky this time as I took advantage of the 0% offer and will own the car outright which will help at the next change.

[Stovo]

Had a look online at a Lexus 350h retailing at just short of £41.5k. Did online valuation for trade in and rated my car good condition)probably better than that), came back with £16,295. If ever I do progress with a Lexus ( doubtful) I won’t be trading in.

[Cevoli21]

Our daughter recently changed her 2020 B4 R-Design Pro, 3 years old, 14,000 miles, scuffed alloys x3 otherwise as new. It's a London car and very few seem to escape scraped alloys. New list price was just under 40,000 but paid just over 35,000. Has now acquired a new B3 Ultimate with leather and 20inch wheels. Trade in was 28,500. Seemed almost too good to be true. Unfortunately someone along the way messed up the order and it arrived with blond rather than charcoal leather. Dealer dealt with it very professionally. A new one is on order on identical terms except it will have a 4 year rather than 3 year service contract and she is using the incorrect one until it arrives.