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700/900 Series General Forum for the Volvo 740, 760, 780, 940, 960 & S/V90 cars |
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Feb 18th, 2020, 00:31 | #11 |
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Around 3 years ago I bought my 1996 940 SE LPT Auto estate for £250 with from memory 8 months MOT. B230FK.
It was scruffy bodily but drove well. Still does. Went through the MOT last year no probs. Under sealed it again before MOT and plan to restore body and fix Ac again now I have the used parts. Rear bumper trim replace/paint, offside rear quarter fill better, fit new rear lights. Sort leaking sunroof. Replace ac clamp and re-gas. Mine is a workhorse for my work. I enjoy driving my 940. They got the engine/ turbo and gearbox just right! James. |
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Feb 18th, 2020, 07:20 | #12 |
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values do what they do because market economics.
Scarcity drives values up, lack of buyers drives values down. When actual items are scarce and people who are actually prepared to pay (as against dreamers and tyre-kickers) are rare, only good units sell but achieve good prices. Dogs sell slowly or for next to nothing. One of the things keeping the 240/740/940 values up is rwd. Drift is the boyracer wet dream at the moment so any old piece of crap with a diff in the back is worth the largest pile of wedge that a pimply youth can muster. |
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Feb 18th, 2020, 11:00 | #13 | |
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Feb 18th, 2020, 13:02 | #14 |
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I think the 700/900s are suffering from speculator influence. They see old cars in good condition going cheap and think they are worth more. Some rediculously priced cars out there, and can be purchased by other speculators or people with too much money.
Also see alot of modded cars with no advertised bhp, with people thinking they are worth the money they have spent on them. 'Car owes me xxx' lol As for "how many left", you can't rate a specific models number as rare unless it is an outstanding/desirable model the a buyer would specificallly look for. There is, what looks to be, over 2000 940s left, 940 sport would be noteable, everything else I would lump together. That means most 940s are not rare. I personally don't think the market is there on 700/900s for increased values for rareness/oldness, but its different in N.Ireland. Best sticking to club members cars and buying in the community. Personally I think a minter 900 estate is worth £1500 max, but I wouldn't expect to pay that in NI, I also wouldn't expect to find one here without a very long search. |
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Feb 18th, 2020, 15:04 | #15 |
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You could be right about speculator influence Tony, however i've noticed with many different cars over the years that happens before they start going up in their own right - perhaps as a result of the speculation or in spite of it. Difficult to say which!
As for rarity giving rise to extortionate values, if that were so then every Reliant Robin owner would be rubbing their hands in glee all the way to the bank! After all, when did you last see one? I know when i last saw one, some months back where i park the car to walk my hound. My hound got out of the car, saw the Robin, looked at it and then at me as if to say "What the woof is that?" At least she has taste! As the for "Car owes me £xxx" brigade, biggest joke going! If someone buys a brand new Volvo in 1990 and it cost them £30k then, if they were now to try selling it with the cost of all servicing, repairs, tyres, exhausts etc, the bills would likely be in the region of £12-15k for that plus the original purchase price of £30k so the "Car owes the seller £45k" - yeah, right! Not! Cowshed Confetti! They may have physically parted with that much cash in their ownership but offset that against the cost of hiring a similar at around £500pcm (even back in 1990, it would have cost £300pcm to hire a Fiat Uno, i know because i did) which works out at £6k/year x 30 years + £180k so really, they owe the car £135k. That's just as much of a joke though, who is going to charge themselves hire fees? Rearrange that for an older car. Round here there are several thriving businesses hiring used cars to USAF personnel for "From 45/wk" and most are in the £50-75/week bracket. The cars usually cost the hirers about £300 at auction or similar and get punted out to Uncle Sams finest at the above rates but i've overheard some negotiations between two hirers, one selling the car to the other. "It stands me in at £550, £400 to buy it and the rest to MoT and service it". Never mind the6 months income he's had at £70/wk of £1820 ish. You get the idea! Totally irrelevant! As for the "Howmanyleft" sites, they're nowhere near accurate. Neither of mine show up on them and i know of other similar spec cars that obviously don't show either. A car is only worth what someone is willing to pay, if you happen to be that someone and your budget is £2500 for an immaculate 940 HPT and one comes along in the right colour, right spec, all the tys you want, mileage etc and you get it for £2500, you've paid what you think it's worth to you - nobody else, just you. Someone else might value it at £1500 or £4000 - to you it's worth what you paid for it, £2500. Obviously market forces will alter the baseline price of any commodity whether it's a 940, salt or whatever else. The purchase price will be influenced by that but you're not going to pay more than you can afford so it's not worth more than £2500 to you.
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Feb 18th, 2020, 15:12 | #16 |
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I've spent a lot more money on mine + purchase price than its worth but I want to keep it is very good condition - hopefully I'll be able to ask a decent amount for when it sells!!
The previous owner spent over £11k on it in his few years of ownership - absolutely bonkers but he maintained how it should be which was really nice (pretty much new everything under the bonnet!). I've tried to take an excellent good daily driver car and fix all the usual niggles to make it a very nice example. Its mileage might be higher than some but I read of so many 120k or less mile cars that are rusting and need a lot of mechanical work doing as they haven't been used - mine has and it has benefitted from it. I could probably clock mine and take 100k miles off and no-one would be able to tell!
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Feb 18th, 2020, 16:11 | #17 |
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I don't see why people on here undervalue their cars so much or moan when people are actually selling them for a lot of money!
Surely the fact that you paid a few hundred for it how ever many years ago and can now sell it for several thousand is nothing to moan about? If I ever sold my 940 (which I won't!) Then I personally wouldn't take anything less than £2000 for it. Also saying that 2000 cars left out of all the models isn't rare, put that figure against how many were sold in the UK and then it does become significantly less common than in the 90's so yes I would say 7/900 series are becoming rare. As for the howmanyleft website my 360 model isn't even listed! So how rare is that? I went to a breakers to get some wings for Mark and the guy at the yard said the insurance paid out £4500 for this 940 estate. So all in all, if you aren't trying to buy one stop whining that the value of our cars is going up!!!! |
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Feb 18th, 2020, 17:00 | #18 |
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I'm a bit of an anorak when it comes to my motoring costs and largely agree with the case postulated by 'L.S.' with one exception. Being married to an accountant, I've never paid anything like £30K for a Volvo.
Instead, when we were running these cars in period, we looked for low mileage / ownership examples around 10 years old with a FSH. Our last 740 was typical. It was 11 years old, with 4 owners and 98K miles up when we bought it for £1750. It was therefore already approaching the bottom of the depreciation curve and this was reflected in our running costs. Cars like 740 Volvos can never be run for Mini costs, but they need not be expensive and will almost always reward conscientious maintenance with value for money motoring. Out of interest, my actual costs from 01/01/01 to 22/01/16 were as follows. (Not included are loss of interest on capital or an escalation factor for inflation over the period covered.) Mileage: 62746 Petrol: 10442.82 litres at a cost of £10807. This equates to 27.3148 MPG or 17.22 pence/mile and represented 57.0% of my total running costs. Repairs: cost £1576.05, or 2.51 pence/mile and 8.3% of the total. Servicing: £705.87, representing 1.12 pence and 3.7%. Fixed: £5875.65, 9.36 pence and 31.0%. Total: £18964.57 or 30.22 pence per mile driven. Depreciation accounted for another 2.35 pence, bringing the total cost per mile to 32.58 pence. To me, as 'L.S.' said, costs such as these, which apply to all cars, are costs of ownership and cannot therefore legitimately be included in the value of any car offered for sale. An example with a good service history and evidence of repairs carried out may be more saleable than one without, but they do not add value per se. Conversely, evidence of inadequate servicing or the need for repairs may detract from the value of any car. Regards, John.
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Feb 18th, 2020, 18:31 | #19 |
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The £30k was a figure i arrived at as a guesstimate John, based on the fact my 1994 Rover Sterling was £30k new and the Coupe i owned (1995) was £34k new, all a similar sort of time and class of vehicle, aimed at the executive sector of the market.
It was more to illustrate my point than a factual statement about the new cost of a Volvo. When i was 18, i had a 144 auto, a friend had an 850 Mini. In 6 months it cost him more just in tyres than it cost me for everything on my Volvo (including tax, insurance, fuel etc) because the tyres wore out so quickly because they had to rotate a lot more for the same distance than the Volvo ones did. When we added my friends fuel costs in, i was really shocked! The Mini drank more than my Volvo! We were covering similar mileages each week despite living and working in different locations and doing our day release in different colleges. So no, you wouldn't want to run a 740 for the same cost as a Mini! Granted these are all ownership costs but to be fair, the Volvo was still cheaper!
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Feb 18th, 2020, 18:36 | #20 | |
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You're an anorak with corduroy trim and hand-carved toggles, carrying field glasses, a notebook and a line of different coloured pens in your shirt pocket! I'm in awe of people like you. I just throw money at stuff and close my eyes when the bank statements roll in. |
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