Convertible prices in February up to 20% lower than summer months
‘Drop-top’ prices set to rise from March with models increasing up to £1100 in value
Despite temperatures plummeting to -15C and warnings of more snow to come, car buyers looking for an ‘al-fresco’ driving experience this summer are advised to invest now. Trade values of the most popular convertible models have been falling since August, but could increase by as much as 20% over the spring and summer months, according to online used car retailer TescoCars.com.
With the frosty start to 2012 deterring many from thoughts of ‘roof down’ driving, Tesco Cars highlights that February and March are typically the best months for prices of used convertibles. The arrival of spring typically marks the start of the convertible buying season, with some of the most popular models halting depreciation and even increasing in value by more than £1000.
Already in 2012 some drop-top values have started to rise. Tesco Cars found a 2008 Mazda MX5 with 48k mileage had appreciated £370 between January and February.
Tesco Cars also monitored the values of a basket of popular convertible models between February 2011 and February 2012.
In 2011, the trade price of a 2008 Mazda MX5 1.8i increased £400 or 5% between February and July, from £8,095 to £8,495, before falling £900 to £7,595 by February 2012.
A 2008 Renault Megane CC 1.6 VVT Dynamique’s value increased £1100 (17%) between February and July, before falling £2,275 (30%) by February 2012.
A 2008 Peugeot 207 CC 1.6 Sport fluctuated from £7,250 in February 2011 to £7,775 in July – a £525 increase – before depreciating £1,280 (16.5%) by February 2012.
|Examples of price changes||Feb 2011 RRP||Price Change||Jul 2011 RRP||Price Change||Feb 2012 RRP|
|2008 Mazda MX5 1.8i||£8,095||5%/£500||£8,495||-10.6%/-£900||£7,595|
|2008 Peugeot 207 CC 1.6 Sport||£7,250||7%/£525||£7,775||-16.5%/-£1280||£6,495|
|2008 Renault Megane CC 1.6 VVT||£6,625||17%/£1100||£7,725||-27%/-£2275||£5,450|
Rebecca Manville, Marketing Manager for Tesco Cars, commented; ‘Seasonal demand for convertibles can have a much greater pull on value than depreciation. Some of the more popular examples can increase by up to 20% in value over the warmer months of the year. Whilst many are put off the idea of buying a convertible in winter, it’s the period of lowest demand so typically the lowest prices.’
Currently, Tesco Cars has a wide selection of deals on used convertibles with prices up to 4.5% lower than recommended retail prices. The popular Peugeot 207 and Mazda MX-5 cabriolets are available from £6,529 and £8,839 respectively whilst a Mercedes-Benz CLK Cabriolet can be driven away from just £13,835.
Best Buy Under £7.5k 2007/07 Mini Convertible 1.6 Cooper 2dr TescoCars.com price: £7,495 Recommended Retail price: £7,825 Saving: £330
Best Buy Under £10k 2008/58 Mazda MX-5 Convertible 1.8i 2dr Mileage: 9,948 TescoCars.com price: £8,839 Recommended Retail price: £9,175 Saving: £336
Best Buy Under £15k 2007/07 Mercedes-Benz CLK Cabriolet 280 Avantgarde 2dr Tip Auto Mileage: 28,606 TescoCars.com price: £13,835 Recommended Retail price: £14,495 Saving: £660