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However, Kia's bankruptcy in 1997, part of the Asian financial crisis, resulted in 51% of the company being acquired in 1998 by South Korean rival Hyundai Motor Company, outbidding Ford Motor Company which had owned an interest in Kia Motors since 1986.^[10] Subsequently, however, Hyundai has divested some of its ownership of Kia Motors,^[11] and currently Hyundai Motor Company owns less than 40% of the company.

and lastly

Hyundai Motor Corp. outbid Daewoo Motor Co. to purchase Kia Motors and its subsidiary, Asia Motors, at an auction in 1998. As of 2010, Hyundai retains ownership of the Kia Motors brand

I don't see how you can add what it cost to service for 6 years to the cost of a vehicle when it was new. I still see a drop of £15,500 over 6 years to be a big loss & I wouldn't entertain selling it for that money. It bugs me when they try & sell you something at top dollar yet what ever you have is worthless. It's the same when we try to change lorries, the loss is unthinkable bt we have ittle choice but accept the market as it is if we want to keep going.

To be honest, I won't buy another new car because of the depreciation, you only have to look at the price tags on Land Rover Discovery 3 windscreen on used vehicle forecourts now to see the 1st owner has had to absorb big depreciation on them. I was looking at a Hyundai Terracan on a main dealers yard recently it was on a 54 plate with a price tag of £8,000. There was a similar one on Ebay at only £4999 & it didn't get one bid. I thought they were pretty tidy vehicles for the money but Mrs BB didn't like them so we didn't bother.

If I was in your shoes, I'd keep the vehicle until it falls apart, that's what we're doing with our Espace, it's top of te range & was £38,000 new, I bought it at 25 moths old for £19,000 & we've had it for 5 years now so it owes me nothing but I couldn't replace it with a similar spec vehicle for what I'd get for it if I tried to sell it. There'll be plenty out there to choose from when we have to buy & if we have to be without wheels for a couple of days, it'll have to be OK.

Just this afternoon we were out looking for a 2nd car, we looked at a VW Toureg 54 plate at £12,999. A 53 Reg limited edition Jeep at £6,999 & a Volvo VX70 Cross country on an 05 plate at £10,999. We didn't buy either but some one's taken a good hit on all 3 of them considering the spec & what they must have cost new.

Our Peugeot listed at £25500 when new, I got it at 10 months old for £16500 & there was at least £1000 overallowance on our trade in.  The Peugeot also had £800 of twin electric removable towbar fitted.

As I would have to have bought a towbar regardless, that is a saving of nearly £11000 on the list price!!!  You could have got about £3500 off a new one according to What Car's target price checker.  That is a saving of around £7000 for a 10 month old car.

An equivalent aged Freelander would have cost me the thick end of £24000 by the time I had a towbar fitted & they were offering me £2000 less than the Peugeot dealer did for my trade in.

Unless the Freelander is worth £9000 more when it is 5 years old I am better off with my faster depreciating Peugeot.

Working out the running costs of cars is a real minefield.

Quote: Originally posted by Zafiral on 09/11/2010

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 The Peugeot also had £800 of twin electric removable towbar fitted.

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Quote: Originally posted by freeatlast on 09/11/2010

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Quote: Originally posted by Zafiral on 09/11/2010

 The Peugeot also had £800 of twin electric removable towbar fitted.

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Grief! was this gold plated?

I've just bought a Witter detachable towbar £202
Manufacturer's 13 pin wiring kit £90.

£500 for fitting is a bit steep, indeed I was quoted £60 for fitting by a reputable dealer.

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Quote: Originally posted by brianconwy on 10/11/2010

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Some special offers on new cars pitch them in at very cheap prices, not far above 12 month old models on the forecourt.  The dealers make about £50 a car on these promotion offers.

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Really? I can't see a dealership with all the bells & whistles bothering to trade if all they were making on a sale was £50 Bryan, they wouldn't be in busines long enough to see the warranty period out. Unless that's the idea of course.

BB

Quote: Originally posted by brianconwy on 10/11/2010

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Some special offers on new cars pitch them in at very cheap prices, not far above 12 month old models on the forecourt.  The dealers make about £50 a car on these promotion offers.

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Quote: Originally posted by brianconwy on 10/11/2010

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Some special offers on new cars pitch them in at very cheap prices, not far above 12 month old models on the forecourt.  The dealers make about £50 a car on these promotion offers.

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Quote: Originally posted by Zafiral on 11/11/2010

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Quote: Originally posted by brianconwy on 10/11/2010Some special offers on new cars pitch them in at very cheap prices, not far above 12 month old models on the forecourt.  The dealers make about £50 a car on these promotion offers.

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The dealers will also get a registration bonus and a separate bonus for hitting target sales. Owing to the size of the bonus it can be worth selling a few cars at a low margin or even a slight loss to hit this target. The regisration bonus is also why dealers pre register cars.

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