{"id":269,"date":"2020-02-28T17:05:21","date_gmt":"2020-02-28T06:05:21","modified":"2020-03-25T15:43:39","type":"post","status":"publish","title":"What\u2019s your Holden worth?","content":"\n

Holden\u2019s Announcement<\/strong><\/h2>\n\n\n\n

On the 18th<\/sup> of February Holden\nformally announced<\/a> that they were ceasing the sale of the brand in\nAustralia and New Zealand by the end of 2020. It marks the end of a storied 112-year\nhistory in Australia which saw it become a household name across the country\nhaving produced 8 million plus vehicles in its lifespan.<\/p>\n\n\n\n

Approximately 600 jobs will be lost in Holden\u2019s head office\nand it\u2019s estimated a further 9,000 jobs will go across 185 Holden dealers in\nAustralia.<\/p>\n\n\n\n

While Holden has committed to honouring its warranties and vehicle\nservicing offerings for at least the next 10 years, this announcement undoubtedly\ncauses concern for the 1.6 million Holden drivers on the road.<\/p>\n\n\n\n

Causing even more concern are reports that Holden dealers\nwill be offering discounts up to $17,500 on its stock of new cars for sale. If\nyou\u2019ve just recently bought a new Holden in the past 18 months you might be\nquestioning your original purchase, but also what your car might actually be\nworth given new ones are being sold at such large discounts.<\/p>\n\n\n\n

Holden\u2019s Used Car\nValues<\/strong><\/h2>\n\n\n\n

There have been numerous reports of certain Holden models\nseeing large increases in their value like the VF Commodore and the HSV range.\nHowever, for most Holden drivers who own either an Astra, Barina, Captiva,\nColorado or one of their other standard models \u2013 they\u2019re probably wondering\nwhat this all means for them.<\/p>\n\n\n\n

At Prices People\nPay<\/a> we analyse used car price trends across the market, using millions of\nactual sold prices from Datium Insights that were recorded from auction yards\nto dealerships. By tracking used car prices over long periods of time we\u2019ve\nbeen able to unlock insights and make predictions about where Holden prices may\ngo in the future.<\/p>\n\n\n\n

Tanim Ahmed, Head of Product at Datium Insights, says there\nare a few underlying factors that will drive prices for Holden\u2019s in the future.<\/p>\n\n\n\n

\u201cUnlike other brands, Holden has been largely unable to capitalise\non the booming interest in SUV\u2019s,\u201d Mr Ahmed said.<\/p>\n\n\n\n

\u201cAside from the Commodore and HSV\u2019s, the waning interest of\nAustralians in Holden\u2019s passenger and SUV line-up will probably spur greater\nloss in value for these cars than others in Holden\u2019s stable.\u201d<\/p>\n\n\n\n

Passenger and SUV<\/strong><\/h2>\n\n\n\n

The models estimated to see the harshest drop in value are\nthe Captiva, Trax, Equinox, Astra and Cruze. <\/p>\n\n\n\n

Using Prices\nPeople Pay\u2019s free used car valuation calculator<\/a>, a top of the range 2018\nHolden Captiva LTZ with 10,000 kilometres is expected to be worth $23,950 \u2013\nnearly half its original retail price. Unsurprisingly, a similar car is listed\nas of now on Carsales for $24,900<\/a>. <\/p>\n\n\n\n

\u201cGiven Holden\u2019s commitment to warranties and servicing for\nthe next 10 years, if you\u2019re not fussed about resale values then picking up one\nof these cars new or second hand would be a great buy at the moment,\u201d Mr Ahmed\nsaid.<\/p>\n\n\n\n

With reports that Holden\u2019s discounts will be made public in\nMarch, and subsequent reports of Astra\u2019s and Trax\u2019s being given large discounts\nto drop them below the $20,000 threshold, there will likely be pressure on used\nvalues of these cars to fall substantially in the coming months.<\/p>\n\n\n\n

Existing used and demonstrator stock on dealer yards will\nprobably receive the most discounts initially. With Holden dealerships around\nthe country due to wind up sales within the year, and reports of some dealers even\naiming earlier for the end of the financial year, the effects of these\ndiscounted cars entering the used car market should occur quite rapidly.<\/p>\n\n\n\n

HSV Range and\nCommodores<\/strong><\/h2>\n\n\n\n

Similar to historical Holden\u2019s like the Torana and Monaro,\nthe HSV range and Commodores will likely see appreciation in their value over\ntime.<\/p>\n\n\n\n

When it comes to the Commodores this is more likely for the\nlocally made version, which is the VF series and prior. The Holden badged but\nOpel sourced Commodores are unlikely to carry the same appeal and nostalgia\nthat the locally made versions will.<\/p>\n\n\n\n

\u201cLate model, locally made versions of the Commodore are doing\nquite well at the auctions and we expect clearance rates and prices for them to\nincrease in the coming months,\u201d said Mr Ahmed.<\/p>\n\n\n\n

\u201cWe\u2019ve already seen a Motorsport version fetch 80% of its\noriginal price at the auction just after the announcement, despite being over 3\nyears old. Any holders of these cars may be best placed to hold onto them for\nlonger as they gradually become a collector\u2019s item.\u201d<\/p>\n\n\n\n

In the HSV range, the GTS looks to be a standout and will\nlikely sell for more than their original price going forward. A 2017 version\nwith 30,000 kilometres is currently advertised\non Carsales<\/a> for $110,000 \u2013 around the price of its RRP. A 2017 Maloo GTS\nUte is\nlisted for $115,000<\/a> with 13,000 kilometres on the clock.<\/p>\n\n\n\n

Colorado<\/strong><\/h2>\n\n\n\n

Compared to the Passenger and SUV models, the Colorado is\nmost likely to retain its strong resale values into the future. Having sold\nover 17,000 units in the tough new car market in 2019, the model clearly has\nmade strong inroads in several Australian industries including the mining sector.<\/p>\n\n\n\n

\u201cEven though the Colorado is a Holden, it can clearly stand\non its own as a vehicle regardless of the brand. It was the 4th<\/sup> most\npopular ute in the new car market last year and we\u2019ve seen it be heavily used\nby mining and construction businesses. This is the one model that will retain\nstrong favour moving forward,\u201d said Mr Ahmed.<\/p>\n\n\n\n

\u201cThe Colorado features prominently in leasing fleets and its\nlikely many organisations will capitalise on any large discounts that Holden\nmakes available. They\u2019re sought after as an ex-fleet vehicle so if you\u2019ve been\nusing one as a town car you may find a fair bit of interest for it in the\ntradie market.\u201d<\/p>\n\n\n\n

Given the Australian markets appetite for utes we expect\nused car prices for the Colorado to hold steady over the next 12 months as\ndiscounted new stock enters the used car market.<\/p>\n\n\n\n

Holden Financial\nServices<\/strong><\/h2>\n\n\n\n

Somewhat forgotten in all the media releases is the\ndiscontinuation of Holden\u2019s finance arm. Holden launched its\nfinance arm in April last year<\/a>, providing a new retail loan program called\nHolden Guaranteed Value in the hopes of stimulating its sales.<\/p>\n\n\n\n

Similar to Toyota\u2019s Access program and VW\u2019s Guaranteed Future\nValue program, Holden provided loans to its customers where the balloon amount is\nguaranteed, as we explained in our previous\npost on car finance<\/a>.<\/p>\n\n\n\n

As you can imagine, holders of these loans are probably concerned\nwhether the values of their cars will hold up in 3 or 4 years\u2019 time. Holden has\ncommitted to honouring these guarantees however and its understood there are very\nfew customers who took up the offer.<\/p>\n\n\n\n

Additionally, there are thousands of people who have\noutstanding loans or leases for Holden\u2019s with a balloon payment at the end.\nUncertainty on whether the value of the car will be under water when the\nballoon payment is due can possibly become a significant financial burden for\nthese people.<\/p>\n\n\n\n

If you are one of these loan holders then using Prices People Pay\u2019s free used\ncar valuation calculator<\/a> to value your car will give you a good indication on\nwhere your financial position might stand.<\/p>\n\n\n\n

For example, if you\u2019ve got a 3-year-old Holden Cruze Equipe hatchback with 30,000 kilometres on the clock then your expected market value would be $10,200. If your balloon or guaranteed future value is somewhere in the ballpark, then you\u2019re looking good for now.<\/p>\n\n\n\n

Are you a Holden car owner affected by Holden’s decision? Comment below on your experience.<\/h4>\n\n\n\n

Disclaimer:<\/strong> This is a general information service only and we do not provide advice or take into account your personal circumstances, financial situation or needs. Please seek professional advice with regards to how any of the material on this website can impact your own financial situation. Prices People Pay is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.<\/p>\n","excerpt":"\nHolden\u2019s Announcement\n\n\n\nOn the 18th of February Holden\nformally announced that they were ceasing the sale of the brand in\nAustralia and New Zealand by the end of \u2026","category":"News","link":"https:\/\/pricespeoplepay.com.au\/blog\/whats-your-holden-worth\/","image":"https:\/\/pricespeoplepay.com.au\/blog\/wp-content\/uploads\/2020\/02\/car-3091576_1920-1024x683.jpg","author":"Emily Savage","categories_list":"News<\/a>"}