Price when new ?

[stepdey]

I own a 2023 (January) Kamiq SE L Executive 1.0  TSi  110 PS Dsg,  finished in Black Pearl Magic

My question is, does anyone know how much this was when new ?

As its a bit of a rarity, I cannot find any for sale so that I would be able to ascertain what it might be worth.

My thinking is if I had some idea how much it was new, I can roughly gauge how much it should be worth after some 15 months.

Thank you

[Redboy]

28 minutes ago, stepdey said:

I own a 2023 (January) Kamiq SE L Executive 1.0  TSi  110 PS Dsg,  finished in Black Pearl Magic

My question is, does anyone know how much this was when new ?

As its a bit of a rarity, I cannot find any for sale so that I would be able to ascertain what it might be worth.

My thinking is if I had some idea how much it was new, I can roughly gauge how much it should be worth after some 15 months.

Thank you

Probably worth about 2/3rds of your purchase price. It will probably even out to around 40-50% after 3 years. 

[Stoker]

Somewhere between £27k and £28.5k I'd guess. Based I what was listed for our SE 1.0L 110PS DSG in October 23.

Thats as close as I can get but I'm sure someone will be more precise.

Try an on line sales site if you really want to know.

Edited 3 April by Stoker

[Stonekeeper]

How much did you pay for it

 

Edited 3 April by Stonekeeper

[stepdey]

Appreciate all your replies everyone, I forgot to mention I bought this in August 2023 with 5458 miles on the clock from a main dealer for £ 25395.

Just been offered £18000 as a trade in against a 2022 Kadiaq, Now on 6657 miles, car is spotless still looks like new, cannot believe its lost so much value in less than 16 months.

[Winston_Woof]

it will have lost most of that value just being driven off a main dealers forecourt, this is the way ;o)

Hang on 16 months?

Have I entered a time warp?

Aug 2023 was only 9 months ago???

Oh it was new in Jan 2023 and you bought it in August 2023

Got it

[Winston_Woof]

also.

It was bought new by someone in Jan 2023, they did 5458 miles and it was back in the dealers 6-7 months later and now you're looking to move it on again after Just 1000 or so miles in 7 months?

Curious

[Ootohere]

Advertised today. 

& there will be more for sale if i look for another 5 minutes.

[stepdey]

Winston, the car came from the Essex  branch of Group 1 Skoda to the Norwich branch, I suspect it was either their demonstrator or their loan car originally.

 

In respect of the ads that have been posted on here, these dealers seem like they want to make something in the region of £4000 profit between a trade in and then selling the vehicle on.

[Stonekeeper]

8 minutes ago, stepdey said:

Winston, the car came from the Essex  branch of Group 1 Skoda to the Norwich branch, I suspect it was either their demonstrator or their loan car originally.

 

In respect of the ads that have been posted on here, these dealers seem like they want to make something in the region of £4000 profit between a trade in and then selling the vehicle on.

 

No two used cars are the same. Check the mileage and ages.

 

Yours will probably be sold at around just under £21,000 giving a 15% margin for a used car at a dealership

[stepdey]

Now thats the sort of price ( £21000 ) I was expecting as the minimum trade in value.

 

I know one thing, the stealers won't be getting to service the car !

[Winston_Woof]

but that's the retail selling price at the dealers so they are never going to give you that much are they.

that's not how things work 

[Winston_Woof]

so If I do an autotrader search for  a 2023 1.0tsi Kamiq SE L Executive, with a DSG with up to 10k on the clock I get these 3  so given these are all lower mileage then @Stonekeeper's guesstimate of a Main Dealer offering it out at £21k feels in the right ballpark.

 

If you're not happy with the part ex offer you could always try popping your vehicle's details on Motorway and seeing what they reckon they can get for it.

I used one of the regs from autotrader and upped the mileage to closer to yours and the initial estimate came back as 

[stepdey]

Thanks for that, But I'm absolutely gutted that in some 16 months the car has gone done in sale priice by approx £3000.

[Norton Ian]

Not keeping a car for very long is a recipe for being hit with depreciation. Buying new and trading it in after a year, or less, is probably the worse for depreciation; but, as you've found out, nearly new and sell after a short time can be pretty bad too. Main dealer margins are probably the worst for this. Is just the way it works. Don't buy an electric car, or you will be suicidal when you try to sell it. 

 

 

[Seasider]

You need to remember that a large chunk of the price you pay to buy is tax of one sort or another.

[Stonekeeper]

A brand new car at £27 450 includes around £4,575 in VAT

so i wouldn't pay more than £22,875 for it when it was 16 month old, would even expect to pay less because that figure allows for no depreciation at all, there is no longer any VAT due on it.

[Ootohere]

Next buyer getting a 2 former registered keeper car and they have no idea just how many former drivers.  Just from the time with the first registered keeper.   The Dealers who do very well with these demonstrators that are Ex management cars that HMRC are very generous because they did 3,000 miles / 3 months supposedly available for potential customers to drive.  Usually some staff or member of the families daily drive though. 

[kodiaqsportline]

3 hours ago, stepdey said:

Thanks for that, But I'm absolutely gutted that in some 16 months the car has gone done in sale priice by approx £3000.

 

I'm reading some questionable answers above. .   Perhaps an explanation is necessary:

 

The OP's question isn't really how much was it worth when new, he want's to know how much it's worth now. ( it's new price bares no relation the used value so is pointless).

 

1: What's it worth?  It's worth what someone will pay for it. As above go to several car buying sites and obtain prices - it cost you nothing. That's the price your car is worth.

 

2: It's gone down £3000 in a year?  Everyone will have their own thoughts on what consitutes heavy depreciation but in general, if you don't want to suffer the heaviest depreciation, don't sell a car so soon after you've bought it.  Of course another way of looking at this is if you're surprised at it depreciating £3000 in a year, could it be you paid too much for it in the first place?

 

3: SEL Executive 1.0tsi DSG in metallic black.  Difficulty finding a used one to compare.

 

When buying cars we should all remeber one thing - that with the very few exceptions, short lived or special edition models are generally worth the same as a std model after a few years. Also car with options may make it more desirable, but add very little value.  So if a similar car is hard to find on Autotrader, just look at an SEL ( or similar model spec ) with the same year and miles. Of course that's the retail price you're looking at, not the price your car is worth.

 

4:  Who cares what a new car cost 12mth ago - it's what it costs new today that counts.

 

Just had a look on DriveTheDeal.  Kamiq 1.0tsi DSG SEL Exec lists at £28600, £29300 with met paint. DTD are saying I can buy that car for £25442

 

If a garage offers £20k for your 23 plate car with almost 6k on the clock, they'd have to retail it for min £22k, probably nearer £23k to pay for their overheads + make profit.

 

So if I'm in the market for a 1.0tsi SEL exce in metallic black, do I buy a 2 owner used car from a dealer at £23k or £25442 for a brand new car registered in my name?  Everyone will have their own opinion, personally I'd choose the latter.

 

18 hours ago, stepdey said:

bought this in August 2023 with 5458 miles on the clock from a main dealer for £ 25395.

Just been offered £18000 as a trade in against a 2022 Kadiaq, Now on 6657 miles, car is spotless still looks like new, cannot believe its lost so much value in less than 16 months.

 

Now you're enting a whole different ball game because they've introduced another car into the equation. They're not really saying your car is worth £18,000, they're saying it's worth £18,000 if changing to that Kodiaq. They may offer you £20k for the car if you;re buying a new Kodiaq. Basically their price is meaningless unless you know what profit margin they have on the used Kodiaq.

 

My advice would be to treat the sale of your car and the purchase of the Kodiaq as two seperate transactions.

 

1: Get the best price for your car from one of those buying websites

 

2: Go back to the dealer and say sorry I'm not going to buy your car.  WeBuyAnySkoda are offering me £20k and ACME_Skoda have a similar car to yours for £500 less so obviously it's better for me to do that.

 

As I say, none of us know what profit margins your dealer has to play with but if I were a betting man, I'd say your dealer's 'cost-to-change' offer will all of a sudden decrease.

 

Hope that helps.

Edited 4 April by kodiaqsportline

[stepdey]

One thing I forgot to mention, the reason for changing is because the wife has got troubles with both her legs and particulary her right knee, over the last couple of months or so it is gettiing worse, she has a problem getting in and out of the Kamiq, and indeed getting comfortable once inside, she prefers to travel in the back seats, i tell her that the front passenger seat has more leg room, but to no avail.

Thats why I wanted to change vehicles, there is absolutely nothing wrong with the Kamiq.

 

Stonekeeper, I paid VAT when I purchased the  car.     The invoice shows   Vehicle Price   £21,158.32

                                                                                                                                    VAT @ 20%     £  4.231.67     

                                                                                                                                     Total               £25,390

 

So I guess its a question  of hanging on for a year or two when it shouldn't have depreciated so steadily.

 

And thank you for your thoughts  kodiagsportline             

 

[Stonekeeper]

33 minutes ago, stepdey said:

One thing I forgot to mention, the reason for changing is because the wife has got troubles with both her legs and particulary her right knee, over the last couple of months or so it is gettiing worse, she has a problem getting in and out of the Kamiq, and indeed getting comfortable once inside, she prefers to travel in the back seats, i tell her that the front passenger seat has more leg room, but to no avail.

Thats why I wanted to change vehicles, there is absolutely nothing wrong with the Kamiq.

 

Stonekeeper, I paid VAT when I purchased the  car.     The invoice shows   Vehicle Price   £21,158.32

                                                                                                                                    VAT @ 20%     £  4.231.67     

                                                                                                                                     Total               £25,390

 

So I guess its a question  of hanging on for a year or two when it shouldn't have depreciated so steadily.

 

And thank you for your thoughts  kodiagsportline             

 

 

As per section 3.2 of VAT Notice 700/64, provided the dealership intends to sell the car within 12 months, they can recover the VAT charged. As VAT will have been recovered on the demonstrator car at purchase, the dealer will then be required to charge VAT on the full selling price

Edited 4 April by Stonekeeper

[stepdey]

Thanks for that m8, yeah can see that reasoning, obviously I do not uderstand the in and outs of VAT.