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Depreciation on CTR

vincent

vincent

Messages
94
Hey there,

Fairly new though been reading stuff for a while. just wanted the advice of some of the guys who have been in the CTR world for a lot longer than me!

Story is that i want to get a CTR (either 04 or 05) and i know that they are expensive to run. ideally i want a car that doesn't depreciate much, from what i have seen, CTR usually have a resale value of 6-7k with average mileage. if i bought one at say 6.5 do you think that i will be able to re-sell in say a few years later if i need the cash to buy a house? I ave about 25K sitting in the bank from saving and actually saving for house deposit but after finishing a hard 3 years of uni i want to treat myself :)
I was contemplating a CooperS (pussy car i know) but i just want a performance car that is exciting to drive rather than a normal saloon etc. and the Mini Coopers really do hold their value well

also what kind of insurance premiums do you think that i will be facing? I was thinking of using a family members postcode for the insurance as they live just outside London.
also where i live its very open, i have no neighbours opposite and road is not very busy. car will be parked on the drive. I was planning to put my mother on the insurance to lower it. I am not a boy racer or anything :rolleyes:, and have always been a very safe driver (may change with CTR :S) but i am your cost conscious University graduate who wants the quality stuff without wasting loads of money.

I will not be modifying anyting either, only think ill do is probably change the head unit!

I live in London, 21 years old (22 in Aug), have been names driving for a few years under parents insurance but effectively 0-NCB, passed when i just turned 18.
I am planning to work in the City as a Trader and probably won't drive it that much (i..e not commuting)

thanks for the read!
 
insurance will be expensive in london, depends specifically which borough. maybe 30-40% more against those living in home counties. you're 21 so will be weighted against that also. in london with 0 NCB i would expect you to be paying circa 1500£.

so far as ctr values. if you bought a facelift CTR for 6.5K and got an 04 with 50K, stuck bugger all miles on it as you live in london, maximum 5K a year so selling at 65K in 3 years i would estimate the value to be around 4K if the economy doesn't have another recession.
 
rossy t said:
insurance will be expensive in london, depends specifically which borough. maybe 30-40% more against those living in home counties. you're 21 so will be weighted against that also. in london with 0 NCB i would expect you to be paying circa 1500£.

so far as ctr values. if you bought a facelift CTR for 6.5K and got an 04 with 50K, stuck bugger all miles on it as you live in london, maximum 5K a year so selling at 65K in 3 years i would estimate the value to be around 4K if the economy doesn't have another recession.
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Hi Rossy,
thanks for the reply, you really expect a CTR to go for that low in 3 years? I have been watching the prices of mini CopperS and the price never really dips below 6k regardless of the mileage. 52 plates still go for about 6k with 80k+ on the clock..
i haven't been watching the CTRs prices but they are fairly similar to last year. what has it been recently?
 
Just buy one and dont worry. YOur gonna lose 2k tops if you get a decent one. If you have 25k in the bank and you are at uni im sure you can afford to lose 1k a year on depreciation.
 
I think I could sell my car for the same as I bought it 14 months ago judging by the prices.
 
If I was worried about depreciation I wouldnt even bother buying a car.
My gf was looking at Minis and they do hold their value well. The Cooper S is a nippy car and handles really well. With a few choice mods they can have a lot of power
 
danga200 said:
If I was worried about depreciation I wouldnt even bother buying a car.
My gf was looking at Minis and they do hold their value well. The Cooper S is a nippy car and handles really well. With a few choice mods they can have a lot of power
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i was re-reading all the past threads and wondered why you didnt get the 330, just wondering why did you get the preface life as opposed to the newer one?
 
vincent said:
i was re-reading all the past threads and wondered why you didnt get the 330, just wondering why did you get the preface life as opposed to the newer one?
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Tbh I do like the 330s...alot. It was more down to peer pressure than anything else :lol: but the CTR is alot of fun compared to the beemer. It was also down to what I wanted out of a newer car: speed, fun to chuck around and reliable (parts in general seemed to be cheaper than the BMWs if stuff did go wrong)

Once I had decided I wanted the CTR I had my heart set on a Cosmic as I really like the colour, but when I was searching the one I got now popped up at a good price with lower than average miles.....I was sold lol.
 
On the cost of running front, CTRs are dirt cheap to run compared to other performance cars etc. Half decent tyres can be had for £70-80 per corner for example. The same tyre for a Beamer will be well over a tonne due to the extra width.
 
25 large saved and your worried about depriciation? and your looking for a FL for between 4-5k? gosh, i have no money saved and im looking to take the r32 beyond 500bhp and thats not cheap.

if your that worried about depreciation, buy a low milage PFL for circa £5000. buy a FL front splitter, headlights etc and fit them.
 
haha, i am balancing the cost of the car vs depreciation and very near future of a deposit on a house!
OMG the Golf R32 is 500 bhp! that is immense! CTR os such an uncommon car around where i live, i wish there was more! just so i can look in awe!
 
facepalm.jpg
 
vincent said:
CTR os such an uncommon car around where i live
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I have a NHB CTR 04 and I live in London, have you been to any of the London Dockland Meets? Theres quite a few CTR in London and a few days ago not that i see much in my area, i saw 3 CTRs and 1 ATR together. They are common i'm afraid but at least they are fun cars and happy high revers.
 
Cracksta said:
I have a NHB CTR 04 and I live in London, have you been to any of the London Dockland Meets? Theres quite a few CTR in London and a few days ago not that i see much in my area, i saw 3 CTRs and 1 ATR together. They are common i'm afraid but at least they are fun cars and happy high revers.
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nah, i have not been to any of the meets and very new to the car scene (technically not even there yet as i dont have a car yet) i have only seen a few lol, i know exactly where to find them as well. one guy who works in Carphone warehouse, charlton/greenwich has one, and one guy who lives near me!
where abouts do you live Cracksta?
 
i keep seeing that one in charlton to i guess he/she works there lol

i'm from the surrey quays area, where you from?
 
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