Talk Morgan Forums Community The Malvern Arms 0% Finance for a new Plus Four!

Same here. When I started looking in 2007 two dealers didn't have a single second-hand car in stock. By sheer luck, I phoned Richard Thorne just after he'd taken in a part exchange so I drove up there and did the deal on the spot.

On the MMC website at this moment, there are 119 second-hand trads around the dealers: https://dealers.morgan-motor.com/preowned-cars/

RAMBLE ALERT... Very loosely related to Morgan evaluation...

Interesting market predictions.. I type as one who has ever been just an automotive enthusiast, as opposed to savvy investor.. To overcome my lack of funds I ever bought either dead or dying sports cars and had a go at repairing/restoring them over time to roadworthy condition, in doing it that way I think learned a lot in the process over the years..

I never really counted the cost of my cars but suspect the end product may have cost more than if I had the wherewithal to purchase a machine in similar condition to my end product, at the outset, instead of all the time, cuts, bruises, frustration and money I put into them over the years...Shrug! The main thing for me that I was in debt to no one.... Not the smartest way of working for sure..

By the time I thought now was right time for ME to buy a Morgan, It seems I was wrong again.. I spent perhaps five years looking for one in need of restoration, during the mid 90`s, the prices were nuts as it seemed many of those who retired early due to downsizing, delayering or golden handshakes, were looking for a "simple" project and seemingly happy to pay over the odds to acquire one such...? I did come across one which turned out to be a collection of parts left over from the restoration of an accident damaged rebuild, The parts being added to in order to make it appear to be an almost complete Morgan in need of restoration.... I suspect registering the assemblage of parts as a Morgan might have been difficult if not impossible once completed...?

It was Lorne of GoMoG fame who found what was to be my Morgan... not a Mog in need of repair but a concours condition mid 80`s +8...! Nuts or what..? 5 years is a long time to be looking but I enjoyed the chat on the MSCC DG and eMog providing me with insight that I would never had available by any other means as to the realities of Morgan ownership. Over those five years I had saved enough to match the asking price of this +8, and Lorne insisted that I really should at least make the effort to view this Mog, all be it a few hundred miles South of where I live....

By this time I well knew what it took to restore a vehicle to anything like concours condition and as this Mog had been the subject of a nut and bolt rebuild by a professional garage business owner, it was as perfect as a Morgan might be... I bought it without ever driving it, though Kevin the builder took me for a run in it..(--:

Just over twenty years on and a few holidays in different parts of Southern Europe touring in it, I still own my old +8. I did think to sell it a few years back as at the time I was getting stiff and feeling the cold more, blood thinners etc.etc.etc. The idea being to help fund a replacement tin top sports car to extend my enjoyment of the roads hereabouts.... I never ever enjoyed selling my sports cars over the years I mentioned I might sell it on here but there was little response, and I just could not be bothered with the whole selling process, thus the Mog still sits in my garage alongside the tin top in the form of a 991 C4S. I admit to be a long time fan of Porsches.. I have owned, restored and run three air cooled Porsches up until a time when I went back to m/cycling for fun miles before thinking a Mog seemed to be the ideal m/cycle replacement as I aged a tad more..(-:

I think I well understand that the MMC had to move a tad quicker with the times than in times past in terms of ever changing automotive legislation, and of course the advancing years, stiffness and perhaps size of their faithful customer base, thus longer doors to ease access and egress and a tad more bling here and there to attempt to perhaps match more modern expectations...?

Add a few more years of advance in regulations and customer expectations and it seem the CX was the perfect evolutionary answer, well as perfect as any Morgan might be, something along the lines of a Trad restomod if you will with more compliant suspension etc.etc.etc....?

The punch line for me in my automotive journey, is that my tools do not do much more than gather dust and have done so for a number of years now. My C4S is maintained by my local Porsche dealership and at some expense I might add.... I have not really put a spanner to any modern car with digital system controls, I did far too much of that on systems I worked with over a few decades... If for some reason I had to travel into Europe again, I would be far more confident of getting there and back without issue in my old +8, than in my C4S..! Likewise I would have the same level of confidence in any of my now long gone air cooled Porsches as I have in my old +8. Modern vehicles are far too complex to be reliable it seems, well at least to the extent I would trust them on a long journey into a foreign land....I have read on here that something as formerly simple on a Trad as brake light operation, though on a CX can cause confusion and return visits for a Morgan dealership to attempt to repair, let alone the other well known list of foibles. For sure Porsche and all others seem not to get things quite right either given the list of re-calls for this that and the other....Experience in trying to book in what was my good lady`s Evoque to the LR dealership relative to a wheel rotation sensor failure indication and being quoted it would be seven weeks before they might be able to look at it....Fixed it myself and sold the thing to replace it with a new and more modern machine.... My old Mog sits in the garage MOT`d, taxed and ready to take on another European adventure... If only...not much chance of that as I managed no more than three hundred miles since it`s last MOT. At this moment in time, I care not a jot about the market value of any of my vehicles or that of the value of the house I have lived in and extended, more than once over the 4 decades and more I have lived here.... Hopefully it will not be me, but others who might be more interested in the market value of all that I have gathered around myself over time... Shrug..! But who knows the way the financial services, politicians and others have steered the UK over so many decades..!

Also perhaps worthy of note.... I have to admit to Tesla ownership, and after a bit of pre purchase research circa 2022, it seemed to fit our then needs.... So far so good, though ever have my fingers crossed it matches my hopes and current lifestyle needs as a daily for a few years yet.. I am inclined to trust Tesla software and processes more than the rest at this time.

OK so I may just be a product of my time and age in terms of my automotive journey through 7 decades +, and likewise my evaluations flawed or otherwise to date, but just thought to share them with anyone who managed to read this far.... hope you found something of interest... (-:

I'm not looking at this from a savvy investor prospective, I know in retirement my ability to replace my savings ( purchases on toys) is not as great as when I was working over 20 years ago when I was pissing money away on cars like no tomorrow. They have become a slightly more considered purchase as my propensity to save is lower in retirement, I'm more risk adverse compared to my younger days and like the comfort of cash in the bank (although purchasing power is being eroded) as a security blanket in my dotage. I always pay cash for everything, even my current homes, so I'm far from being savvy, just the nature of my makeup.

I am not inclined to getting my hands dirty on home mechanics, never have been and I'm too old to start now. Whilst I'm working towards a CX automatic , as the wife can drive it, having said that I see much greater value in a trad than this % plan CX as its designed for a low mileage therefore low usage scheme,. The CX imho has set the bar higher, but I'm not so sure its increased the 'fun' factor commensurately with the increased price (over a trad) for the amount of use intended under this scheme.

Having said that I can see the automatic CX increasing the number of years I would be able to enjoy driving and sharing a Morgan with Sue, as the marked increase in comfort, access, driveability etc., will be more of a consideration in years to come .So whilst I see myself back in a trad at the moment, I'm sure it will eventually lead to an automatic CX in the not too distant future.

I changed to CX last July. Swopped ( at a cost !) from trad Plus8 to auto Plus Four.
The 8 was a great car. 2002 model and running well. I enjoyed hands-on and did good miles. 2022 was the last long trip. Windermere and Scotland doing 3000+ miles. One rad fan fuse blew but otherwise faultless.
My thoughts went to projects to keep the car running and a list made. Mechanically not much, respeay desirable, interior spruceing up.
I’d been looking at the CX but waiting for the problems to emerge and be solved. It’s a Morgan after all. The delay proved a good move!
In early 2023 we visited Berrybrook and had a test drive . Liked the car but an early manual andI wanted to try an auto.
Looked at financing it and a slight delay loomed so put on the back burner.
Mid year mrs sospan was keen to try one. Did a test of an auto, both liked it, finance ok by this time so deal done. Pre-built not specc for factory build but it fitted our needs/wants. Absolutely no regrets. One minor warranty job done ( new pcb for gauges when the original failed) 6k miles on the clock after another Windermere/Scotland trip plus others.
Other than basic routine stuff post warranty the car is future-proofing my ownership with less hands-on needs.
I have always spent a lot of time working on cars but these days the fun is waning. I want more time to drive instead of allocating garage time. I can see the Plus Four seeing me out.
The auto is excellent. The paddles fun, Sport/Sport+ fun. Economy ( mainly in auto) excellent. Insurance not bad, VED not the best but over time will drop.
I keep it taxed not SORN as I can pop out if I want to on decent weather days. Run with others planned for St David’s Day next week. Off to St David’s (where else!) so nice run across Pembrokeshire.

The glory days of Morgans holding or even appreciating in value and selling relatively quickly are I am afraid long gone. The value of owning a Morgan today is to enjoy it and drive it til you no longer can and then smile remembering those wonderful times as it goes to wherever it goes at whatever price you were able to obtain.

Does 0% seem a bit desperate on the part of the Italians..?

They're already offering any colour you want and any leather you want as sales stimulators, I guess they aren't working.

The mainstream and specialist used car world has been struggling for a while, demand is low and supply is now more than adequate. This equates to plummeting prices.
Why do Morgan think they're special, immune to what is happening in the car market?

65% as a residual value after 2 years seems wildly optimistic, dealers have got cars in stock that have had sat for ages at full price, discounts are available..! How in the current market will a 2 year old car be worth 65% of it's purchase price when vat and otr charges account for a chunk of the purchase price?

In the old days............ of new trads, low(ish) production numbers and a ready supply of grey haired middle/old aged nostalgia junkies, you could and would, be pretty sure of getting at least your initial investment back.
As has been said, choice was limited in the past, one look at the dealer supply today tells a different story.

The business model of increased production and ever higher prices being employed by the Italian is risky at best, reckless at worst......imho....🤷🏻‍♂️

Charles Morgan: When you have a customer who sells their order on for £1000 or £2000 which you see none of, you wonder if that's really the sort of customer you want.
John Harvey-Jones: Oh come off it, you might also wonder why you don't put your prices up.

Troubleshooter (1990)

Morgan in the business of making and selling new cars . It doesn’t matter how, it’s just an ultimate goal.

Making a margin on a second hand Morgan is priority two, as it’s been a part ex for a new CX or second hand CX.

Couple of hundred grand on the factory tours would also be a priority as seems money for old rope with servicing definitely being a good revenue earner for those of us that dislike pissing about with grease, glue, and double sided draft excluder tape.

You guys who have kept your Trads forever, and don’t use factory or main dealers for service are of absolutely zero interest to Morgan, and why should you be?

I have a CX because the Trad I had was tragic. I don’t care about residuals, and if second hand prices bomb, good. It means a more affordable CX for all.

Also, I wouldn’t use my own cash and pay the whole price of it into a depreciating asset on the first day of ownership. My money can be used to earn more money elsewhere. So depending on circumstances, the deal will suit many people.

It’s no different to buying a £400,000 combine harvester! £50k down , 25k a year for two years, option to buy, but sod that cos out of warranty and free yearly service offer gone. Roll out another brand new fixed cost machine. 100 % write down allowance on full price of combine also.

Loads of CX cars sold on PCP with a Guaranteed future value of £45,000 at 30,000 miles at 3 years old. Hand it back and walk away, or use residential as pix on next one. It’s what ever suits.

Also, it’s was said on here that there will always be a market for a trad buyer. Your trad 30 years time. Who is going to be buying and driving them. I’ve just asked 3 well brought up, car, bike, tractor, and V8 Scania loving teenagers sat in my kitchen what they think. They are rolling around on the floor with laughter 🤷‍♂️

It doesn't matter whether you pay cash or PCP ,the car still depreciates at the same rate irrespective of finance model /method you use and you have to cover that depreciation within your monthly rental payment, or when you dispose of the vehicle, its just a question of whose money you use and how cheap the interest rate charged or forgone, works best for you its all down to the differential between what you can make on your investigated capital as against the PCP debt service charge that would be levied. If you have the capital and can make more money on that than the PCP debt service charge you will incur then go the PCP way if it suits you.

The bigger issue with regard to both the CX and Trad longer term is the death of the ICE, which Labour if it gets in is going to revert to the 2030 ICE deadline. Will an electric Morgan be of interest to most here, especially with the current weight penalty of batteries may change the driving dynamics of the previous light ICE vehicles. A quiet EV Morgan seems an oxymoron and possibly devoid of much of the driving sensory experience, but I could be wrong..

I've always found an individuals wants, desires and aspirations tend to change over time with an individual's growing life experiences, previous people collected possessions now it appears that life experiences are more highly valued.

"I've always found an individuals wants, desires and aspirations tend to change over time with an individual's growing life experiences, previous people collected possessions now it appears that life experiences are more highly valued."

Morgan may be almost uniquely placed then .... able to hit both bases at once! 🙂

K