Formentor resale value

[welshroces]

Hi Guys!

First time poster here! I'm currently looking at VZ2 245hp brand new (would love the 310 but out of my price range!) and been offered a pretty good deal..
The problem is after looking on auto trader to get a gauge of resale value and if they hold their value I've been sort of put off..
With VZ3 and VZ2 2022 and 2023 cars selling for £33,000! With them mostly being either a 22 or 23 plate!
Now I understand you lose around about 20% of the value as soon as you drive it off the forecourt but the car is around £44,500 I believe and just seems to be a huge nose dive in valuation and has somewhat scared me and put me off buying one.
Has anyone had any experiences of selling a fermentor at all and if I should be worried with such a loss in the car?
Any knowledge or experience would be greatly appreciated!

Thanks

 

[pkaps]

If you are that worried buy a used one. If resale value is a priority for you, you are generally out of lack, buying a new car is not an investment, all everyday cars devaluate, the more you spend the more you lose down the road when reselling. That 20% you are talking about goes up to 30% at year's end for all cars, its not just the Formentor, I would say that actually a used Formentor selling for 33000 is not that bad. Again resale value never was a factor for me, I always bought cars with my heart mainly and coudn't care less about resale. If I can spend 45-50 thou for a car that I will enjoy I wouldn't care less if in the end when reselling I was to lose a few extra pounds. But thats me, I value enjoyment more than money.

 

[Karbonfaiba]

Pro tip for UK buyers: 2021 made VZ2 310PS registered roughly before October had a list price of £39,830.

Good luck

 

[TheUkWizard]

Have a look on leaseloco.com, u might find it cheaper to lease (usually is). A 245 hybrid vz3 is about £300 a month, with 3.5k down.

U then get a brand new car and all fixed cost with no road tax to play. I have been leasing for 6 yrs now, currently have a 310 vz2 coming to end of lease. Got that at a bargain price though. They have gone up leasing price wise recently.

 

[TheUkWizard]

Pro tip for UK buyers: 2021 made VZ2 310PS registered roughly before October had a list price of £39,830.

Good luck

Thats what I have on lease, I know the leasing company paid £36k for it, as I guess they get discounts.

Welshroces - perhaps buy a 1yr old 310 vz2 instead.

 

[Wyld Stallyn]

Thats what I have on lease, I know the leasing company paid £36k for it, as I guess they get discounts.

Welshroces - perhaps buy a 1yr old 310 vz2 instead.

I did

 

[welshroces]

The problem is i always liked the PCP aspect as i like to chop and change my cars every 3-4 years..
Hence my hesitation in such a depreciation of a new car after just1 year.
I have been stung before with a GLA where by the end of my term the car was in £6000 negative equity and i just don't want to be in that situation again.
I understand i can just hand the car back after the term has finished but i like to change it a couple months in advance as every other car i own has positive equity in it and tend to use that as a deposit for the next adventure! Such as my 18 plate golf GTD currently has £4500 equity in it!
I just looked at a 23 plate formentor which is £43,000 on the cupra garage website and when i have looked at a resale price its currently coming in at £32,500! I understand they will always low ball you to make a profit but i have never seen that with other car manufacturers! But maybe a lease deal would be better off...

 

[welshroces]

If you are that worried buy a used one. If resale value is a priority for you, you are generally out of lack, buying a new car is not an investment, all everyday cars devaluate, the more you spend the more you lose down the road when reselling. That 20% you are talking about goes up to 30% at year's end for all cars, its not just the Formentor, I would say that actually a used Formentor selling for 33000 is not that bad. Again resale value never was a factor for me, I always bought cars with my heart mainly and coudn't care less about resale. If I can spend 45-50 thou for a car that I will enjoy I wouldn't care less if in the end when reselling I was to lose a few extra pounds. But thats me, I value enjoyment more than money.

The thing is i'm not trying to buy a car as investment.. i know that cars will always depreciate in value and it's a gamble i just want to know it will actually have some worth or value by the time i sell it to use as a possible deposit on a new car whether that be £100 or £1000

 

[Railwayman]

I have had two Leon’s on PCP and the dealer has offered me a great deal on both long before the PCP was due to end. The first was a 2018 1.4 FR and I made a £1000 on my £2500 deposit 40 months in to a 48 month deal. The second, a CUPRA 245 which I’ve just traded in for another one on a 0% deal over 3 years and got the same deposit back. I would have thought the Formentors would be more popular these days and retain a higher value. To be fair, I am a low mileage man, so the dealer gets a good second hand car. The reason I’ve traded it in? A great deal and I want my desire red back

 

[Delanor]

Depreciation appears to be quite high on the Formentor, I bought a pre reg 190 bhp V2 in August 2022 and now I have decided to change it having paid I considered a good price for my Formentor of £35K back then and now 16 months later I am being offered £22K to £24K part exchange against a new VZN discounted to £44K so after only 16 months £20K to £22K to change.

My Formentor is only on 8K miles - I think I`ll keep it.

 

[pkaps]

good times as they were one to one an a half year ago have passed, now back to normal . This is for all cars not only for the Formentor.

 

[Delanor]

Not strictly speaking, good times are still in place for dealers as I have been looking for several months now and all the dealers cars pre reg and nearly new appear to retain their value whilst the value of mine has been dropping quite quickly every month at that rate after a further 12 months its not going to be worth a lot is it for an approx` 2 year old car.

 

[pkaps]

If you wont sell it you wont lose anything, new cars depreciate a lot. We are not anymore a year or couple years' ago with all the shortages in part's and chips supplies. New car values is a different story.

 

[SRGTD]

Depreciation appears to be quite high on the Formentor, I bought a pre reg 190 bhp V2 in August 2022 and now I have decided to change it having paid I considered a good price for my Formentor of £35K back then and now 16 months later I am being offered £22K to £24K part exchange against a new VZN discounted to £44K so after only 16 months £20K to £22K to change.

My Formentor is only on 8K miles - I think I`ll keep it.

Would a new VZN be £20k - £22k better than your existing car? I doubt it.

IMHO keeping your existing car it is the smart move. It’s only just over a year old with low miles. It probably still has the remnants of that new car smell.

 

[Delanor]

To be honest I took the opportunity to avail myself of the services of RaceChip`s GTS tuning box so power is approx` 243bhp and with 4WD it is quite rapid especially on the SPORT setting with a bonus of better fuel economy when driving sedately and all with only £180 road tax as opposed to £570 for its bigger brother.
Yes I think I`ll stick with it until I really fancy a change.