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Verified Tsikot Member
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September 22nd, 2016 08:54 AM #1Just curious why most vehicles specifically SUVs are being sold half their price when the age is 6 years or below.
I know they depreciate very fast, but is it actually practical to sell at that price and lose money, granted the car has been used for that long?
Maybe most of those for sale were foreclosed, but the ones where the owners are the sellers?
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September 22nd, 2016 09:18 AM #2
Actually, half the price at 6-years is still good. A lot of sedans hit the 50% mark by year 4.
In the market today, it's pretty much a buyer's market with the multitude of choices and ready financing. Those who could only scrape together their hard earned cash to buy a second hand vehicle, can now go to the dealer, fork over the DP and drive away in a brand new vehicle. If you want to buy a new car after 3-5 years, you really have to take the depreciation hit.
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September 22nd, 2016 09:52 AM #3Utility vehicles tend to depreciate slower than passenger cars. My pickup was still at 50% at 7 years. Our Innova was also close to that when we sold it at 8 years. But yeah, the advent of cheap(er) and easier financing has really put a dent on second hand prices.
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September 22nd, 2016 11:32 AM #4
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September 22nd, 2016 01:35 PM #5Bile kayo old 5 year-old Fortuner saka Montero, tapos ma ceramic coating nyo, bsck to original lahat pang-ilalim. Di pa kayo maka 1.3M - price of new PPV.
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If you are wrong, turn right.
If you are right, turn left.
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September 22nd, 2016 02:33 PM #6
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September 22nd, 2016 03:31 PM #7
2nd hand car prices will dive if the government decides to remove the "coding scheme"
I totally agree with this...
You can price your car half a million pesos but if now one is willing to buy it, you'll have to lower the price sooner or later just to take that car out of your garage.
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September 22nd, 2016 03:55 PM #8
Willing buyer, willing seller. That sums it shall.
Buying cars nowadays is nothing. Virtually anybody can do it.
Parang sari-sari store.na rin banks.to offer their car loans.
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September 22nd, 2016 04:55 PM #9
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September 22nd, 2016 05:04 PM #10Basta guaranteed cars to sell at 50% to 60% market value after 5 years:
Montero D
Fortuner D
Commuter D
Grandia D
MUX D
Hilux D
Vios G
Corolla G
City G
Mirage G
Wigo G
Ecosport G
Ranger D
Everest D
Innova D
Adventure D
Crosswind D
Jimny
Cars less 40% to 50% after 5 years
- All Hyundai D
- SOme Korean D
- all Suzuki cars
- Trailblazer
- CRV, RAV4,. Subaru CUVs, CX5, Xtrail, Juke
- Accent
- Mazda 2
Cars Lower than 30% after 5 years
- Explorer, Exped
- all Chevy small sedans
- all Korean small hatch / sedans
- ASX
- Lancer
Cars that will be hardest to sell after 5 years, maybe a few individuality buyers
- Mazda 3, Mazda 6, cX9 Camry, Accord,
- all Sanyong
- all Foton
- all other remaining Subarus
And then of course cars that can sell at 70% of its vslue after 5 years
- T86
- FJ Cruiser
- Land Cruiser
- Pajero
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If you are wrong, turn right.
If you are right, turn left.
as an aside, in the olden days, anyone who does not move 'ala luksa during Holy Week, especially...
Traffic!