Talk Morgan Forums Morgan Sports Cars Morgan Plus Four, Supersport & Plus Six (CX & CXV Generation Vehicles) Morgan residuals

Well, with this impressive time span, it might still be worth something in good condition, although mobility might look a little different then.

Worth/ value is one thing…getting a willing buyer is quite another, as some dealers are finding out.

I think there are a number of Aero based cars on the web for speculative prices right now. Strangely they are still there after a good few months!

A cynical person could say that they are there to set a perspective for people new to the brand doing web research? They happen to make a nearly new CX look good value and would make them think that resale values are great ?

The economy has tightened quickly and I think this is going to change a few things. Even the overbaked second hand car market in general seems to be cooling off. Restricted volumes of new cars caused it to peak aggressively with sharp increases in most of the stock, this is beginning to tail off as people lock up their wallets in anticipation of a different economy with inflation and increased taxation to cover COVID and other things.

It's all very well for a dealer to 'value' a car at what it cost the buyer originally, X number of years ago, but unless the dealer buys it from you for that figure there and then it means nothing.
They'll more than likely want to sell it SoR, in which case there will be commision due to them and any costs incurred to prepare the car prior to sale. All this adds up to quite a few thousand pounds.
The usual SoR situation is that the dealer puts it on at an 'optimistic' price to massage the ego of the seller, then after a month or so with little interest, the price drops start, or it just sits there for ages which helps no one. The buyer gets more an more frustrated and the dealer looks inefficient because their stock is sitting around for ever looking stagnant.

As Deejay points out, finding a buyer is the current problem for dealers.
There just seems to be a lot of cars for sale at the moment....🤷🏻‍♂️

Indeed - the Max Coupe & Supersports at £150k+++ seem to be testing whether those models have escaped being priced as "mere" transport, and are valued as tax-incentivised investments.

It's a small (very small) market, so any views are highly subjective.
Having 4 Max on sale at the same time is very unusual though, isn't it.

The Aero S5s that have been around over the winter?
Half of them have gone. It's the nicer cars advertised at +/- £105k are the ones that have sold (I've spoken to the selling dealers, so those Aeros haven't just disappeared back into storage). That's much the same price as they were selling at this time last year.

As ever what matters to a seller (me!) is the cost to exit or to cost to change, rather than the bumper sticker price in showroom windows.

Will
(who's really rather lovely Aero S5 is promised for release from the factory by the end of April: ten weeks into a two week job, but the paintwork will be factory fresh. If that happens, it'll be on the Grid at the Goodwood Supercars breakfast doing its Aero thing of drawing far more admiring attention than the fancy Italian metal parked alongside :-) )

I don't see residuals or dealers as the concern here but the way most people buy cars these days....the CX model and the 'new to Morgan buyers' being in this category.

Fact: most car buyers are now on their third or fourth new purchase via a car lease source or PCP i.e., pay something up front and then a monthly fee depending on your budget thereafter?

However, what happens to these vehicles when the 3 or 4 year lease ends...the dealer has them back and then tries to resell them in the traditional way i.e., marked up with a one off sticker price.

In Morgan world these sticker prices will be £50k plus for these 3 or 4 year old cars....so ask yourself IF people can't afford them new (or budget for a monthly fee) they ain't going to be forking out on a one off payment?

Also factor in that borrowing money is now becoming more expensive so HP to buy a 2nd hand car, is also making them more unpalatable? I can see some bargains as 2nd hand cars are way too expensive at the moment.....

I wonder what percentage of the vast array of CX chassis cars on the market now were purchased on the Morgan drip scheme ?

Not sure of the Morgan market Richard, however, I do know 85%+ of some brands are on a PCP.....

What Morgan should be contemplating is how many PCP owners will renew, and how many will move on. The CX market is unlikely to mirror the Trad market.

That is a high percentage, I hadn't realised Mark.


Yes true, I think they only introduced it with the CX range about the Plus Four launch time.