New HSV/FPV

[VS_SeV]

Is it just or me or you gotta be really silly to buy a new car from HSV or FPV?
They drop in value so quickly so if you bought a new car for about 60 grand, as soon as you bring it home it already went down about 5 grand. Within a year a 60 K car will cost around 45-50.

I was lookin at XR6T and when it first came out I think they were around 44 K in 2003 and now you can easily find one for 35 K, thats 9 grand off in just a year.

For HSVs, its even more of a depreciation.

For eg:
Brand NEW VY SERIES II (2003) CLUBSPORT R8 $69,150, now they cost:
$53,850 or probably less since this was from an online source, 14 K difference all in one year.

I dont know about you guys but if I ever wil be lucky enough to get one of these awesome beasts then I much rather wait for a second hand and save a shit load of money!

One thing Im certain is that it will just be kind of hard to find the exact car I would be looking for (right colour, manual/auto, low mileage etc), but seriously, these Aussie cars are depriciating too quickly... BMWs and other upper class cars, they cost a packet but they hold on to their true price... second hand HSVs/FPVs are a bargain.

Comments?

[dominik]

Is it just or me or you gotta be really silly to buy a new car from HSV or FPV?
They drop in value so quickly so if you bought a new car for about 60 grand, as soon as you bring it home it already went down about 5 grand. Within a year a 60 K car will cost around 45-50.

...

Comments?

I guess it's the downside to getting in early. You can look at it a few ways. Some people can't wait to drive the latest and greatest, period. Some people don't want to inherit what might be someone else's problems. Some people want to customize the thing to their liking. Some people only feel comfortable buying with a full warranty term. You're right about rapid depreciation, it's a real bummer, but then again you only live once so if you can afford to always buy new, go for it. Let's not forget a lot of people are leasing these cars for business use.

Personally, if it's not for business, I think buying a used Holden/HSV that's around 2 years old is the best way to go because you'll save a respectable wad of cash and also get enough time to fix any problems covered by warranty and then tune the thing up to current model specs or beyond. Like a lot of people say, buying used means more money for performance mods, at the expense of turning a few more heads with the latest look and being backed by a full 3yr/100k warranty.

The VX series is an interesting one because the basic look has been kept alive by the Monaro and GTO coupes so it probably hasn't dated as quickly as some models in the past despite all the VY/VZ sedans getting a total facelift. I was lucky enough to pick up a 2002 SS with the specs I wanted: M6, black, series II, through a private sale at the right price. It takes a lot more patience of course but in the end I got what I wanted so it was worth it. Having said all that, I love the look of the new HSV GTO and would be thrilled to own one, no question about it. For now I'm content to wait a while and let someone else take the depreciation hit because it's not for business and I'm happy with the SS. It's tough to control those urges, especially when the latest rides first hit the streets and they're in all the magazines.

[C4B]

...........but seriously, these Aussie cars are depriciating too quickly... BMWs and other upper class cars, they cost a packet but they hold on to their true price... second hand HSVs/FPVs are a bargain.

Comments?

(Note the similar configuration - 5.7litre/6.0litre, v8/v8, 6sp/6sp)

2003 HSV CLUBSPORT
Y Sedan 4dr Man 6sp 5.7i
average kms 18,000 - 22,000
Trade in price guide $37,600 - $42,300
Price when new (RRP) $59,100

2003 BMW 760Li
E66 Sedan 4dr SA 6sp 6.0i
average kms 14,000 - 17,000
Trade in price guide $211K - $232K
Price when new (RRP) $332K

So if you compare a 2003 Clubby against a "Upper Class" BMW (and the clubby with more k's on it to boot), here's the result:

Clubby has lost 28.4%
BMW has lost 30.1%

[team illucid]

Most of the new HSV cars I have seen are leased .... depreciation is not a big factor to the owners at all ...

[HSVMAN]

Comments from the motoring industry..... Euros will take a far greater hit particularly after first year - and particularly the flagship models.
Aussie icons will depreciate less than most on local market. ALL new cars loose value when you drive out the door. Do a search this subject has been beaten to death. It hasnt changed in 50 years and wont in the forseen future.
HSV's actually depreciate fairly well, and the General is lucky enough to have a better resale than most because of demand on used Holdens.
But some Holden used vehicle buyers need shooting particularly whenit comes to HSV so shop around.
In general all cars depreciate roughly on a percentage of their original purchase price. Buy what you can afford (or afford not to loose) or buy smart ie demo/runout specials.
Leasing can be an option depending on how much you drive - the lease companies base their rates on the depreciation levels of the car too

[RICHO]

ALL cars tend to lose around 30% of their value in the first year.

The measure of a cars worth is how well it has retained its value after 22, 3 or 5 years. A highly valued car should have residuals above 60% after 3 years and should still be above 30% after 5 years.

I don't know the figures but I suspect most HSV's will have residuals at 3 and 5 years that are above these levels.

Furthermore, the VALUE of a car is not only measured by the rate it depreciates. A BMW 318 with plenty of options will hold it's value well, better than any local V8's. But would you want to buy one?? Take your V8 and enjoy the pleasure of ownership.

[LSX-438]

my comments: if those early depreciation dollars are going to make a material difference to your lifestyle then it makes sense to buy that second hand car, it's all relative. a new car is good for the soul and a significant motivating factor for some people, you'll have to trust me, they aint stupid. some people have an investment property, boat, horses, jetski etc, and some people just love cars. and some people have all of the above..

[Cat755]

Having just been through the process of upgrading from a 01 VX R8 to a VZ R8, we recieved an equivalent of 54% of the original on road cost of the VX when new. It is used within our business and when allowance is made for tax savings etcetera the loss on the original price is about 30%. Due to Holden, Ford etc. upgrading thier models so frequently it has a dramatic effect on the cars resale value. The VX was only 3 and bit years old but was already 4 models old.The first year is when the greatest amount is lost and then it tappers off. I was 25 years wanting to get a car like the R8 and now that I can afford it, and don't have any complaints from wife or family, I just gotta have one No wish to travel or go to expensive restaurants, just happy driving the car.

[Beej]

Don't forget that hardly anyone pays full retail price for new Holdens and HSVs either - people who buy through companies and novated lease etc usually receive a hefty fleet discount, often pay no GST etc etc - so the first year depreciation is not always as bad as it seems. In fact discounting is one of the reasons for heavy first year depreciation, (plus other factors of course), as why would anyone pay the same of more for a 2nd hand model when they know they can get a new car (same model) at the same or a very close price? Of course that pushes values of 2nd hand cars down in the first year.

VS-Sev- at the end of the day, as others have said, it comes to down to what you can afford and understanding the VALUE you derive from your purchase; looks like you could be on the younger side (no disrespect! Just an observation), and may be only just figuring out what new cars cost and that they depreciate. It is all a part of the cost of ownership of a car and most make a deliberate decision to pay what it costs for the pleasure of owning their own brand new car. If you can afford it why not? To many people $10k/year in depreciation cost, tax deductable against their business, is a small price to pay that they can easily afford

Cheers,

Beej

[japcars]

i think you all should buy jap cars so they hold value

[HSVMAN]

i think you all should buy jap cars so they hold value

.........

[SSbaby]

I've stated this before... cars are not a good investment... particularly if you've spent $$$ on mods (like most of us here ).

[HSVREDSLED]

To ease the depreciative pain, there is another option. Buy a runout.

In a nearby post, people advise that a Vy2 clubby can be picked up for 48k drive away!! Great Price!!!

12 months ago I walked into a Holden dealer looking to buy a crewman. When the back seat turned me off, I walked out of the yard and happened to walk past a gleaming red VY HSV on a run out sale. I drove that car out of the yard cheaper than I could have driven a crewman or VY2 SS!!!

Horses for courses of course. Some people like to have the latest model...I was just happy to be driving something I really shouldnt be able to afford.

[exwrx]

Cars are depreciating assets, live with it HSV's are no worse than most other cars in their category, and in many cases perform better.

And before you praise the resale of bmw's and mercs, you need to realise that their resale values are based on RRP. Now try walking into a showroom and buy a new 318i bmw or C class merc for RRP. The list of 'options' is as long as your arm, including things we take for granted in top shelf aussie cars like leather and alloy wheels. 10K plus on 'options' is a common occurrence.

Just remember the higher the price, the harder they fall.

[Danv8]

i think you all should buy jap cars so they hold value

Mitsubishi ? thats a jap brand
hold their value? Huh!

Go back to fart 4's and smokery's.