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Old 23 October 2007, 17:19   #11
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By my reckoning that works out at £16250. A good buy.
£26,000 - 17.5% VAT = £22128

Year 1 10% depreciation:

£22128 *0.9 = £19915

Year 2 10% depreciation:

£22128 * 0.9 = £17923.50

How did you get £16250?

Woot, is that right?

Cheers,

Orve.
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Old 23 October 2007, 17:49   #12
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Your both wrong, what's wrong with your maths!

26000-17.5%=21450

21450-10%=19305

19305-10%=17374.5

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Old 23 October 2007, 17:58   #13
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A gold star for Hightower
Biggles and Orville you are both getting extra homework
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Old 23 October 2007, 18:54   #14
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Your both wrong, what's wrong with your maths!

26000-17.5%=21450

21450-10%=19305

19305-10%=17374.5

Nope, I'm afraid you are wrong Hightower.

VAT is 17.5% of the pre-VAT price. This means that you have to divide the with VAT price by 1.175 to get the pre-vat price.

What Hightower has done is take 17.5% OFF the VAT-included price.

If you add VAT to this £21450 you 'only' get £25203.75 not £26k.

I'm afraid my maths are correct.

If you buy something for £100 +VAT it costs you £117.50.

To work out the pre-VAT price you divide the £117.50 by 1.175, you do not find 17.5% of £117.50 (which is £20.5625 - resulting in your £100 miraculously becoming £96.9375).

Sorry.

Orve

P.s. Now who gets the extra homework
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Old 23 October 2007, 19:35   #15
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Orville,

You are of course, quite right about the VAT calculations.

You may wish to take a second look at your second year depreciation figures though
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Old 24 October 2007, 05:45   #16
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Orville,

You are of course, quite right about the VAT calculations.

You may wish to take a second look at your second year depreciation figures though
Oh Yes, the answer was right but the first figure was a typo :

So, notwithstanding all the maths, would you expect to pay about £17900 for a 2 year old craft which was £26000 new?

Cheers,

Orve.
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Old 24 October 2007, 05:49   #17
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Oh Yes, the answer was right but the first figure was a typo (now edited):

So, notwithstanding all the maths, would you expect to pay about £17300 for a 2 year old craft which was £26000 new?

Cheers,

Orve.
I hope not, I've just ordered a new one. There is no 'rule of thumb'. If a 2yo good spec RC 585 comes up for £17k snap it up, 'coz the seller would be a mug.
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Old 24 October 2007, 08:45   #18
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I hope not, I've just ordered a new one. There is no 'rule of thumb'. If a 2yo good spec RC 585 comes up for £17k snap it up, 'coz the seller would be a mug.

Notwithstanding my poor maths. This was what I was getting at.
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Old 24 October 2007, 09:26   #19
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Notwithstanding my poor maths. This was what I was getting at.
Oh yeah, you've got one. Actually a 2yo 585 would be worth nearer £12K.
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Old 24 October 2007, 15:06   #20
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Oh Yes, the answer was right but the first figure was a typo :


Quote:
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So, notwithstanding all the maths, would you expect to pay about £17900 for a 2 year old craft which was £26000 new?
I was offered one for around £18k a year ago and that was a touch less than 2 years old at the time. I thought it was a good buy, but a couple of minor things put me off, so I bought something else instead. I haven't seen many others of the same spec for that price. There was one yellow one called 'Tifino'.........
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