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Sold
by simon8201 - 09/09/26 01:46 PM
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Wales
by Joske Vermeule, September 1
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Forums39
Topics49,896
Posts838,013
Members9,635
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Most Online1,063
Jun 14th, 2026
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Joined: Nov 2011
Posts: 7,342 Likes: 49
Talk Morgan Guru
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Talk Morgan Guru
Joined: Nov 2011
Posts: 7,342 Likes: 49 |
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..... Interesting post Mark
A Morgan Identified Fastidious Owner...
2011 4/4 Bespoke, 1981 Delorean, Auburn Boat Tail
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Joined: Nov 2011
Posts: 7,342 Likes: 49
Talk Morgan Guru
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Talk Morgan Guru
Joined: Nov 2011
Posts: 7,342 Likes: 49 |
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....🤷🏻♂️ Julian, I think that's a problem everywhere and not just with Morgan...
A Morgan Identified Fastidious Owner...
2011 4/4 Bespoke, 1981 Delorean, Auburn Boat Tail
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Joined: Dec 2011
Posts: 665 Likes: 31
Talk Morgan Regular
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Talk Morgan Regular
Joined: Dec 2011
Posts: 665 Likes: 31 |
In Belgium all my2022 in stock are sold due to the price increase of the my2023 models.
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Joined: Jul 2022
Posts: 206 Likes: 15
L - Learner Plates On
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L - Learner Plates On
Joined: Jul 2022
Posts: 206 Likes: 15 |
In Belgium all my2022 in stock are sold due to the price increase of the my2023 models. With new CX cars being so much more expensive than the previous model years surely it makes a nearly new car much more attractive to most purchasers.
Previous Mog Plus 4 Fiat Twin Cam.
Plus Six
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Joined: Dec 2008
Posts: 22,371 Likes: 354
Roadster Guru Member of the Inner Circle
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Roadster Guru Member of the Inner Circle
Joined: Dec 2008
Posts: 22,371 Likes: 354 |
In Belgium all my2022 in stock are sold due to the price increase of the my2023 models. With new CX cars being so much more expensive than the previous model years surely it makes a nearly new car much more attractive to most purchasers. For some buyers that will certainly be on their agenda, but Morgan still presents the opportunity to spec a unique car and then watch it in build. So for some this will make the extra cost worthwhile. The whole thing has basically doubled in price since 2016, when I made that decision, but for me it was worth the extra cost to have that experience. That was when the Plus 4 was hitting £50k fully specced...........
DaveW
'05 Red Roadster S1
'16 Yellow (Not the only) Narrow AR GDI Plus 4
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Joined: Aug 2020
Posts: 3,873 Likes: 402
Talk Morgan Addict
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Talk Morgan Addict
Joined: Aug 2020
Posts: 3,873 Likes: 402 |
In Belgium all my2022 in stock are sold due to the price increase of the my2023 models. With new CX cars being so much more expensive than the previous model years surely it makes a nearly new car much more attractive to most purchasers. Is it not also a case of what are the changes each model year and their desirability may influence perceived second hand values eg I wouldn't entertain a second hand CX Morgan that is not fitted with comfort seats. Most likely I wouldn't entertain a second hand MY23 without an all leather interior, others may prefer pre traction control cars etc
22 Plus Four KIMI
12 Plus 4 Sport OZZY
08 Roadster FELIX
06 4/4 70th LOKI
77 4/4 SEAMUS
85 4/4 MOLLY
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Joined: Jul 2022
Posts: 206 Likes: 15
L - Learner Plates On
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L - Learner Plates On
Joined: Jul 2022
Posts: 206 Likes: 15 |
In Belgium all my2022 in stock are sold due to the price increase of the my2023 models. With new CX cars being so much more expensive than the previous model years surely it makes a nearly new car much more attractive to most purchasers. Is it not also a case of what are the changes each model year and their desirability may influence perceived second hand values eg I wouldn't entertain a second hand CX Morgan that is not fitted with comfort seats. Most likely I wouldn't entertain a second hand MY23 without an all leather interior, others may prefer pre traction control cars etc You pays your money and you makes your choice, when I purchased my P6 the only thing I was thinking about was the performance, there was no difference in that department, so I saved £30000 by not having comfort seats, the original ones are not a problem for me anyhow and drive for hours with no discomfort.
Previous Mog Plus 4 Fiat Twin Cam.
Plus Six
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Joined: Apr 2018
Posts: 38
Just Getting Started
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Just Getting Started
Joined: Apr 2018
Posts: 38 |
I believe very few CX cars were sold on the Morgan PCP scheme(in the UK), most of the dealers I have spoken to including the factory tell me that cash is still the dominant payment method. This is especially true when a large proportion of CX sales have gone to current Morgan owners who have part exchanged their trads. The residual value set by the finance company was very low despite previous experience of Morgan residuals. This was probably because the factory did not underwrite those residuals so the finance company played safe. The finance company may well be prepared to sell these back to the market at a bargain price but in my experience they will likely drip feed them as when they feel there is demand.
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