Have you ever thought about how a car's value depreciates once you drive a brand new car of the garage forecourt . . here's an example.
So never buy a brand new car at the asking price. Far better to buy a three year old car where it's lost two thirds of its original value.
Renault Scenic MPV 1.6 dCi 130 Dyn. TomTom S/S 5dr New
£22,495Year 1
£10,998Year 2
£9,018Year 3
£7,410Year 4
£6,330
Rexton better deal,
Ssangyong Rexton W 4x4 2.0 SX 5dr £21,995 £10,525 £8,651 £7,124 £6,075
I've got a Renault Scenic that's over 8 years old but looks in good shape. It's probably worth £1000.
If depreciation runs at 20% a year I'll lose £200 which is a lot less than £11,000 in its first year!
You never know it might start going bak up in price as a vintage model!
"I've got a Renault Scenic that's over 8 years old but looks in good shape. It's probably worth £1000.
If depreciation runs at 20% a year I'll lose £200 which is a lot less than £11,000 in its first year!
You never know it might start going bak up in price as a vintage model! "
Tis win win for you LT![]()
Well, I bought my Renault Scenic off Motability, after an extended lease for £4000 - that's 7 years ago.
I'm expecting to sell it ths week for £1000. So it would have cost me £428 a year over 7 years to pay for it plus one service, MOT and insurance each year about another £500 a year.
So it's been a thrifty 7little motor costing about £1000 a year to buy, service, MOT and insurance plus petrol - not a bad little runner.