Used market

All Volvo XC40 related discussions
Den48
Posts: 251
Joined: Sun Dec 20, 2020 10:13 pm

Post by Den48 »

Hi all

Time on my hands, looking at the used market with various Volvo dealers, I’ve had my car a T4 plug in for 6 months from new , no problems pleased with the car. Had a look at an estimated trade in value towards a new car using Whatcar , 29500 quoted as a trade in towards a new car , ouch I have a feeling that I will be keeping this car for much longer than my previous xc40’s

I know that there is a problem with selling anything with electric in the title at the moment ( see the discount on Volvo dealers websites) but that’s a big drop off. Anyway decided to look ar my previous car a B4 r design 2021, 71 plate.

Trade in price May 23, £29500 , tried Motorway they gave me a price of £23300 and WBAC £22000 so it seems a general fall of all round, as a thought is the xc40 now going over the hill , they are being advertised on the discovery channel or is the ex30 taking sales from the xc40 ?
T4 recharge, plus spec, 23my

Stovo
Posts: 177
Joined: Thu Sep 14, 2023 2:41 pm

Post by Stovo »

Don’t think it’s just electric variant XC40’s that are seeing used values starting to drop. I was offered just short of £20k trade in against a 73 plate B4 Ultimate selling at fifty quid below £40k. My car is a 20 plate R Design T4 FWD with 28k miles, with various extras including Pan roof. Couple of months ago was offered nearly £26k, admittedly against a new B4 Ultimate, selling at £43.7k. Could be general trend ( not just Volvo) as manufacturing timescales for new vehicles return to pre - Covid times, thus slowing demand for used.
ChrisLF
Posts: 1566
Joined: Wed Apr 24, 2019 8:21 am
Location: Heart of England

Post by ChrisLF »

Post overlapped with Stovo.

Surprised you are finding such a big difference between trade-in and WBAC as I didnt find much difference at all.

I changed my car about a month ago and got £24500 on 19k. miles from the dealer for my R-Design. The residual value after 4 years was really good and a strong reason for changing.

If you go through the buying process on the web-site you can get a part-ex value.

I was originally looking at changing in March but left it and thought I'd missed the boat with the move to the agency model and the end of discounts. But Volvo dropped their prices and I got a good deal in the end. Looks like I did the right thing if used prices are dropping. The cost of finance with the interest rates probably isn't helping.
Last edited by ChrisLF on Wed Nov 15, 2023 8:21 pm, edited 1 time in total.
2023 B4 Plus Dark FWD in Silver Dawn. Tinted Rear Windows. Spare Wheel & Tow Bar dealer fitted.

Gone - 2019 T4 R-Design FWD in Bursting Blue. Winter & Convenience Packs, Power Seat, Front Park Assist, Rear Camera, Spare Wheel & Tow Bar.
Stovo
Posts: 177
Joined: Thu Sep 14, 2023 2:41 pm

Post by Stovo »

Deleted User 4737

Post by Deleted User 4737 »

I don't think it's the XC40 getting over the hill. Since Covid new car prices have risen sharply and used ones have held onto their values remarkably, but sign's are emerging that used values are starting to fall back to some normality.
ChrisLF
Posts: 1566
Joined: Wed Apr 24, 2019 8:21 am
Location: Heart of England

Post by ChrisLF »

I agree that the XC40 isn't getting over the hill. Even if as thought second-hand values do drop their residuals are still strong compared with some other manufacturers' models.

Helped by it only having had fairly mild external updates which means that even early models don't look outdated and hold their value well and they all still hold muster when compared with the competition. There still isn't anything I'd rather have for the money.

Part-exing a relative new car rarely gets you a good deal as there isn't much wiggle room for the dealer markup as it will be too close to a new car price. Three to four years old is a better bet and a yardstick for how particular cars hold their value.

At least with used car prices returning to normality manufacturers will have to be careful with their new car pricing and Volvo will have to maintain their reduced prices since adopting the agency model.
2023 B4 Plus Dark FWD in Silver Dawn. Tinted Rear Windows. Spare Wheel & Tow Bar dealer fitted.

Gone - 2019 T4 R-Design FWD in Bursting Blue. Winter & Convenience Packs, Power Seat, Front Park Assist, Rear Camera, Spare Wheel & Tow Bar.
Deleted User 4737

Post by Deleted User 4737 »

Traditionally dealers like margins to be around 7.5% on new cars and 15% on second hand cars. When the XC40 arrived you could negotiate a first edition for under £35k, today a like-for-like spec would be well over £50k. This and the fact they have not changed the design has supported higher residuals, but they are falling now.
Stovo
Posts: 177
Joined: Thu Sep 14, 2023 2:41 pm

Post by Stovo »

BuzBox wrote: Wed Nov 15, 2023 7:48 pm When the XC40 arrived you could negotiate a first edition for under £35k, today a like-for-like spec would be well over £50k.

[/quote

Think you are wrong on over £50k for MHEV. Ultimate with leather interior, around £44k, and would say spec on this is comparable to FE. EV however, yes well over £50k.
ChrisLF
Posts: 1566
Joined: Wed Apr 24, 2019 8:21 am
Location: Heart of England

Post by ChrisLF »

Hard to believe but my residual value after 4 years was 69%!!!

I'll never see that on a car again.
2023 B4 Plus Dark FWD in Silver Dawn. Tinted Rear Windows. Spare Wheel & Tow Bar dealer fitted.

Gone - 2019 T4 R-Design FWD in Bursting Blue. Winter & Convenience Packs, Power Seat, Front Park Assist, Rear Camera, Spare Wheel & Tow Bar.
Stovo
Posts: 177
Joined: Thu Sep 14, 2023 2:41 pm

Post by Stovo »

I’ll top trump you Chris.

We bought my wife a 3 month old Mini Countryman in May 2019 for £18,500. Sold in Sept 21( not trade in) to another Mini dealer for…you guessed it…£18,500!

Sadly that ain’t gonna happen with my XC40! I might get £18.5k, but I paid £35k😡😡
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