To Sell or Not To Sell??!

BobTheBeat

At the start of the year I bought a new MG ZS 105+ . Love this car, despite having some hassle with it at the beginning. But since the demise of MG Rover and the slashing of their prices, it has been in the back of my mind to just offload the motor.

I reckon I have two options:-
Hold onto it and get my moneys worth out of it and then try and get rid of it... However, parts may be getting more rare at this point, thus scaring people away from the purchase.

Cut my losses and sell it.

Comments or ideas are welcome

unkel

bobmeaney wrote:

Cut my losses and sell it

This thought is going through a lot of Rover owners heads no doubt. Some will have already cut their losses, leading to even lower second hand values for the ones on sale now

Try and establish first how much you can get for it (you will be disappointed) and then make your decision. You might want to hold onto it if you see the figures

Now is a good time to buy a Rover though, new or second hand

bazz26

Well as it stands I think if you sell it now you will loose a fortune on it because of MG Rover going bust. Also alot of owners like yourself kind of paniced and tried to sell their car almost straight away after the company went bust. This resulted in an influx of Rovers/MGs onto the second hand market, this plus the fact that MG Rover dealers had a large number of new models in stock that they were finding hard to sell.

New MG/Rovers (except the 75/ZT) are still available from ex MG Rover dealers at heavily discounted prices so this will drag down the resale value of your car even more.

Personelly, I think you have not much to loose by keeping the car for at least another year if the car is trouble free, and let the dust settle on the second hand value of them.

As far as I know parts are still being made by a third party company and will be available for a number of years yet.

maidhc

unkel wrote:

Now is a good time to buy a Rover though, new or second hand

Secondhand quite possibly, but new? They were overpriced before the collapse, so even with the prices being slashed by 20% or so they are only even pegging Fords & Toyotas etc. That is hardly good enough for a car with serious doubts hanging over it.

I would say you should keep the car you have though. You have lost so much already you might as well keep it and drive it to the ground.

Big Nelly

Just drive it into the ground....if it is running well then wats the point in selling for a knock down price and then go out and pay for another car!! I would drive it into the ground and then scrap it!! then buy a new car.....it should keep going no probs for 8 years!!

JohnCleary

bobmeaney wrote:

parts may be getting more rare at this point, thus scaring people away from the purchase.

Parts arent getting scarce, theyre just getting more expensive.
I was quoted 44 euro for a track rod end from my local dealer. Got it from a UK dealer for 24euro including postage :eek:

unkel

maidhc wrote:

even with the prices being slashed by 20% or so

I was thinking more of 40-50%

MercMad

I read yesterday that MG may be bought out and kept going ?

Was I reading lies...............anyone else hear that !

maidhc

unkel wrote:

I was thinking more of 40-50%

I saw a dealer somewhere saying there was 20% off. But i'm sure you would do better than that.

alias no.9

You've got to ask yourself what it will cost you to buy something similar? In terms of losses, you've already lost most of it, it probably can't fall much further because despite the fact it's an ancient design, it's practically a new car with low mileage and most other cars with similar market value are probably either korean or are five years old with quite a few miles on them. If you don't particularly want spend any money on changing, that's what you'll be looking at too. If I were you, I'd sit tight, values may even make a marginal recovery as people recognise a nearly new mg or rover as a value for money alternative to a 5 year old car from some other manufacturer.

Tiger Jim

Drive it until it owes you nothing. Now is not the time to be trying to sell an MG.