DEPRECIATION

[vini]

just out of curiosity I did a 'webuyanycar' quote on my two week old launch edition megane etech. it came back at £24k..

at first I thought it must be looking at the Ford Puma I got quotes for on the same number plate a few months earlier, but no it detailed the megane. I know new cars depreciate as soon as you drive off the forecourt, but by 40% ?!

Any comments welcome - this is partly a test to see how popular this forum is, from what I can see it doesn't appear to be that well used, but I could be wrong...

cheers and hello

[Phorridge]

I suspect the volume of used sales for these models is so low that you won't get an accurate resale value.
Before we purchased we looked at other models used and they were only a few thousand shy of the new price.

[vini]

I suspect the volume of used sales for these models is so low that you won't get an accurate resale value.
Before we purchased we looked at other models used and they were only a few thousand shy of the new price.

Thanks, that's reassuring and makes a lot of sense. If my wife asks at all I now have a plausible explanation

[ArtyBee]

I think there's also more to the "webuyanycar" valuation than just the car itself. I considered selling my previous EV back in June last year and saw their valuations fall over several weeks. When i looked early December the valuation was high again - and when i eventually sold at the beginning of Jan it was 3k under what I received from a dealer. That was almost 18% down on a dealers offer. (they put the car up themselves at almost 2k more). It suggests to me they factor in a "desperation" element - so I imagine their algorithms figure anyone selling a new car must be looking for a quick sale above all else.

[tarbat]

HPI valuations are typically more representative.