What do you reckon I'll get offered trade for...

[cj10jeeper]

I am from the US and don't understand the XX plate. Please explain

+1.

Well, I understand that the plate means when they're first registered. (Am I right?) I just don't understand why it's of any significance and why it's mentioned over and over. Shouldn't the "model year" of a car be more important?

We never pay much so attention to model year in the UK as it's deceptive (IMHO). We're on '09 models now for some cars, which has nothing to do with how long it's been on the road.

Our car valuations are all based upon the date of first registration, so that number gives us a 6 month window and when used in conjunction with a year down to a few months. So someone advertising a '57 2008 we'd know it had been on the road (or at least ready in the dealership forecourt) from between January 1st and Feb 28th 2008. Actually fairly accurate.

Where the system does have a weakness is a car could have sat in a field for a year or so, be registered and appear new.

Any wiser??

 

[Wondermike]

I've been given a figure over the phone... Not as bad as I thought £16K

Sounds fair.

 

[2 Zero]

I am from the US and don't understand the XX plate. Please explain

+1.

Well, I understand that the plate means when they're first registered. (Am I right?) I just don't understand why it's of any significance and why it's mentioned over and over. Shouldn't the "model year" of a car be more important?

We never pay much so attention to model year in the UK as it's deceptive (IMHO). We're on '09 models now for some cars, which has nothing to do with how long it's been on the road.

Our car valuations are all based upon the date of first registration, so that number gives us a 6 month window and when used in conjunction with a year down to a few months. So someone advertising a '57 2008 we'd know it had been on the road (or at least ready in the dealership forecourt) from between January 1st and Feb 28th 2008. Actually fairly accurate.

Where the system does have a weakness is a car could have sat in a field for a year or so, be registered and appear new.

Any wiser??

Thanks for the explaination! I think I understand.

 

[pvr]

oi - what about my explanation then?

 

[GP20]

I am from the US and don't understand the XX plate. Please explain

+1.

Well, I understand that the plate means when they're first registered. (Am I right?) I just don't understand why it's of any significance and why it's mentioned over and over. Shouldn't the "model year" of a car be more important?

Warranty is determined from the day of registration. Value of the car changes only twice a year as well, i.e. first part of the year plate versus the second part of the year. A car registered on a new plate is worth a lot more then a car registered the day before.

I think I understand too.

 

[timscuba]

I have no idea but I could blame it on the scotch I have had tonight. Sounds quite complicated. I think I will read this thread in the morning and it moght make more sense.

 

[pvr]

GP20, :wink:

 

[marriedblonde]

Warranty is determined from the day of registration. Value of the car changes only twice a year as well, i.e. first part of the year plate versus the second part of the year. A car registered on a new plate is worth a lot more then a car registered the day before.

That statement is partly right! The trade in value of a car only changes twice a year. When buying from a dealer they change the rules and use the month of registration for the valuation. For example a 3 series coupe registered in July 2008 would be an 08 model, this is worth £5K more than a car with a better spec and similar mileage registered in March 2008 even though they are both 08 models

Also when trading a car in your options are worthless, when buying a car from a dealer the options add almost the same as when the car was ordered. I believe they call it "having your cake and eating it" on the part of the dealer.

Gotta love dealers logic.
J.

 

[Mattt]

Fortunately the Tax man's paid for the depreciation which eases the pain of the depreciation slightly.

Taxman pays for 25% of depreciation with a limit of I think around 2.5K a year if I remember right. Think the Z depreciates a bit more then that ...

How come?

 

[WaZZZZman]

Thanks for the explanation, I asked the question before and never got an answer. Now after your excellent description, I have come to the conclusion that the same lunatic committee that designed my old MG went on to work in the licensing department. Sorry I guess we hijacked the poor guys thread.

 

[Wondermike]

Fortunately the Tax man's paid for the depreciation which eases the pain of the depreciation slightly.

Taxman pays for 25% of depreciation with a limit of I think around 2.5K a year if I remember right. Think the Z depreciates a bit more then that ...

How come?

If it's bought through a company it becomes a depreciating asset, but marriedblonde is self-employed and pays the maximum amount per mile to himself instead of owning it through a company, it's not ideal but still cheaper than being a PAYE employee and paying for it yourself.