A used car pricing specialist has told potential buyers in the UK that winter it the time to choose a convertible.
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According to Glass’s Guide, anyone looking to buy a one-year-old prestige-badge convertible or roadster will typically pay over £1,000 more in July and August than in December or January.
Rates of depreciation for this type of car slow dramatically from February through to the peak spring and summer selling period. Then they lose value at a much faster rate from August through to the end of the year.
For example, an ’03-plated Mercedes-Benz SLK320 automatic will depreciate by £3,825 during 2004, but a significant 65% of this depreciation occurs from August onwards.
Glass’s said that owners interested in selling a prestige convertible would maximise their return if they seek a private or trade buyer in April through to July. This takes account of the fact that the next end user will probably buy in the hope that they can still enjoy a couple of months of open-top motoring before the weather turns.
The figures show that the changing seasons continue to have a significant influence over the value of these cars, Glass’s said. A premium-badged convertible could be bought for less during the winter months while the buyer could be sure their purchase was unlikely to depreciate significantly until the latter part of the following summer.
But Glass’s cautioned that the usual prestige market rules apply, and the values of cars that are in the ‘wrong’ colour or have a poor specification would fare considerably less well, regardless of the time of year.
