Secondhand car price crash? (Vol. 2)
Discussion
e-honda said:
MuscleSedan said:
£735 now for pre-April 2017 registered Mustang etc.
Yeah I can't understand why a pre 2017 tax year one isn't a hell of a lot cheaper.Over 10 years it's going to cost an extra £5k+, that aught to be straight off the purchase price, plus an extra £2-3k to reflect being a year older.
But they are basically the same price.
Could double your running costs if it's a summer car car that comes out for a couple of thousand miles a year.
macron said:
loskie said:
Only a mentalist would pay £5 for a coffee.
You obviously don't live in London...https://www.theguardian.com/lifeandstyle/2024/apr/...
I actually felt sick. Only went because the McDonald's opposite was closed for some reason.
Still seemed to be plenty of customers.
My understanding of the current market is there is steady demand for new and used, not spectacular demand but not dire either.
As per the past 12 months, electric pre reg cars and vans (anything electric upto 2 years old) is difficult to shift unless it’s heavily discounted and or incentivised.
If you’re buying new or used, buy petrol, lease electric.
Buying electric is insanity at current new car prices.
As per the past 12 months, electric pre reg cars and vans (anything electric upto 2 years old) is difficult to shift unless it’s heavily discounted and or incentivised.
If you’re buying new or used, buy petrol, lease electric.
Buying electric is insanity at current new car prices.
I ran my car through some sites yesterday.
As a part ex the lowest offer was from a national car supermarket at £4700. Cinch offered £5200. Surprisingly WBAC came back at £5700 which amazed me as I thought they'd be the lowest. For some reason AT will no longer offer me a valuation but there are half a dozen similar cars listed for sale between £7-8k. I'm thinking get it serviced and a fresh MOT and put it up privately for £6995 then see what happens.
I guess the places that offer least is because they don't really want it or don't stock older cars? It would be interesting to get a part ex price from a smaller garage that deals in similar stuff.
Ultimately it comes down to price to change. Perhaps the car supermarket offering peanuts prices their stock lower to compensate?
As a part ex the lowest offer was from a national car supermarket at £4700. Cinch offered £5200. Surprisingly WBAC came back at £5700 which amazed me as I thought they'd be the lowest. For some reason AT will no longer offer me a valuation but there are half a dozen similar cars listed for sale between £7-8k. I'm thinking get it serviced and a fresh MOT and put it up privately for £6995 then see what happens.
I guess the places that offer least is because they don't really want it or don't stock older cars? It would be interesting to get a part ex price from a smaller garage that deals in similar stuff.
Ultimately it comes down to price to change. Perhaps the car supermarket offering peanuts prices their stock lower to compensate?
It's really dropped recently. I have my S5 up for sale - before I decided to sell I had a cheeky WBAC valuation to see whether it was worth doing or not. The first valuation was around £13,250. This dropped to £12,720 last week and then today we're at £11,800! Motorway offered £12K and it's currently on carwow so will see what that brings but not holding out much hope.
I have it on AT and Pistonheads at £13,750 and not a single call - not even a scam! It's quite disheartening as I really look after my cars and they want for nothing but this doesn't seem to matter anymore in the marketplace. Real eye opener!
I have it on AT and Pistonheads at £13,750 and not a single call - not even a scam! It's quite disheartening as I really look after my cars and they want for nothing but this doesn't seem to matter anymore in the marketplace. Real eye opener!
It's daft really. People feel protected by warranty and stuff when buying from dealer but many times your just buying someone's part ex that they've just off loaded. It'll have had a wash and vac if you're lucky and any warranty is likely not worth the paper it's written on.
Genuine private sellers are often proud of their cars, have maintained them well and can tell the buyer about the history. You'd think that'd be worth more!
Trouble is the private seller can't offer any financial services and with prices being so high these days that's a big issue. Everyone is worried about being scammed too. As if a dealer can't scam you!
Genuine private sellers are often proud of their cars, have maintained them well and can tell the buyer about the history. You'd think that'd be worth more!
Trouble is the private seller can't offer any financial services and with prices being so high these days that's a big issue. Everyone is worried about being scammed too. As if a dealer can't scam you!
My brother's not doing well with selling his Porsche, been up for sale for a couple of weeks now and only a handful of lowball offers. His was, at the time the advert went out, the cheapest 987 Boxster in the country (with high milers going for more) we thought it'd be a good time to sell spring into summer!
For my own needs, as mentioned before I have a search saved on AutoTrader which at it's lowest point during peak covid prices never raised above 200 results. This year it hit 300 and now we're at almost 400 - So the <£5k hot hatch segment is getting better all the time!
For my own needs, as mentioned before I have a search saved on AutoTrader which at it's lowest point during peak covid prices never raised above 200 results. This year it hit 300 and now we're at almost 400 - So the <£5k hot hatch segment is getting better all the time!
ACCYSTAN said:
I have come to the conclusion you need to sell for a minimum of 5% less than the cheapest equivalent dealer car to get interest in an autotrader private sale.
Prob more like 10 to 15% (unless you have an enthusiasts car that will appeal to the correct punter vs a dealer just wanting an easy turnover unit)ACCYSTAN said:
I have come to the conclusion you need to sell for a minimum of 5% less than the cheapest equivalent dealer car to get interest in an autotrader private sale.
With respect, is that not stating the obvious?A dealer offers a warranty, trade in facilities, the ability to get finance and you have rights if purchased from a dealer.
You forego 99% of that when buying privately.
Strocky said:
ACCYSTAN said:
I have come to the conclusion you need to sell for a minimum of 5% less than the cheapest equivalent dealer car to get interest in an autotrader private sale.
Prob more like 10 to 15% (unless you have an enthusiasts car that will appeal to the correct punter vs a dealer just wanting an easy turnover unit)Certainly needs to be notably cheaper.
ChrisH72 said:
It's daft really. People feel protected by warranty and stuff when buying from dealer but many times your just buying someone's part ex that they've just off loaded. It'll have had a wash and vac if you're lucky and any warranty is likely not worth the paper it's written on.
Genuine private sellers are often proud of their cars, have maintained them well and can tell the buyer about the history. You'd think that'd be worth more!
Trouble is the private seller can't offer any financial services and with prices being so high these days that's a big issue. Everyone is worried about being scammed too. As if a dealer can't scam you!
As per your last paragraph, a private seller cant offer finance, a trade in facility and you do have consumer rights when buying from a dealer.Genuine private sellers are often proud of their cars, have maintained them well and can tell the buyer about the history. You'd think that'd be worth more!
Trouble is the private seller can't offer any financial services and with prices being so high these days that's a big issue. Everyone is worried about being scammed too. As if a dealer can't scam you!
Yes, a dealer can scam you - but you know where they are to go back to. Scam sellers usually just disappear or hide behind the fact you've little protection when bought privately.
8IKERDAVE said:
It's really dropped recently. I have my S5 up for sale - before I decided to sell I had a cheeky WBAC valuation to see whether it was worth doing or not. The first valuation was around £13,250. This dropped to £12,720 last week and then today we're at £11,800! Motorway offered £12K and it's currently on carwow so will see what that brings but not holding out much hope.
I have it on AT and Pistonheads at £13,750 and not a single call - not even a scam! It's quite disheartening as I really look after my cars and they want for nothing but this doesn't seem to matter anymore in the marketplace. Real eye opener!
A lot of stars have to align to sell privately for £13k in the midst of a cost of living squeeze. Your market is about 2 people with immediate access to that level of funds in cash, and they have to be really wanting your car. Everyone else needs finance and often px. The low-ball offers will be from the buyers at car dealers and when you eventually cave and accept their offer due to lack of any better offers after 2 months, you find this out when they want you to complete the yellow section and you give them the V5 I have it on AT and Pistonheads at £13,750 and not a single call - not even a scam! It's quite disheartening as I really look after my cars and they want for nothing but this doesn't seem to matter anymore in the marketplace. Real eye opener!
.The only sector that's moving with private non-dealer sales is the under-£3000 one which is very buoyant. Everything else, you get offered up to 75% of your asking price and not a penny more.
r3g said:
The only sector that's moving with private non-dealer sales is the under-£3000 one which is very buoyant. Everything else, you get offered up to 75% of your asking price and not a penny more.
I would concur. My brother does motor trading part time and anything under £3K flies out the door. Anything above that just sits.I'm advertising a car for a friend of mine at the minute. A very nice 2013 120d M Sport at £4995 which by spec and miles would make it one of the cheapest in the entire country.
Any interest so far has been along the lines of "would you take a trade in?" or "would you swap for", which at this price point always feels like somebody trying to offload their trouble to someone else.
Mojooo said:
The main benefit of using a dealer is paying by credit card and getting section 75 protection. Because as you say their warranty could be pointless.
Be wary of a dealer that doesn't take CC - even if they say its because of the fees.
I think you'd be doing well to find a dealer that takes CC these days. I don't & all of the other dealers I speak to don't either. I think the only places that do are prestige main dealers and even they don't like much more than £5k on a CC.Be wary of a dealer that doesn't take CC - even if they say its because of the fees.
If anything, I'd say be wary of a dealer that does accept CC. As it is probably somebody desperate to get cash in the bank by any means necessary.
123DWA said:
Mojooo said:
The main benefit of using a dealer is paying by credit card and getting section 75 protection. Because as you say their warranty could be pointless.
Be wary of a dealer that doesn't take CC - even if they say its because of the fees.
I think you'd be doing well to find a dealer that takes CC these days. I don't & all of the other dealers I speak to don't either. I think the only places that do are prestige main dealers and even they don't like much more than £5k on a CC.Be wary of a dealer that doesn't take CC - even if they say its because of the fees.
If anything, I'd say be wary of a dealer that does accept CC. As it is probably somebody desperate to get cash in the bank by any means necessary.
So you could pay say, £250 deposit using a CC then the rest with cash
123DWA said:
I think you'd be doing well to find a dealer that takes CC these days. I don't & all of the other dealers I speak to don't either. I think the only places that do are prestige main dealers and even they don't like much more than £5k on a CC.
If anything, I'd say be wary of a dealer that does accept CC. As it is probably somebody desperate to get cash in the bank by any means necessary.
When a car is on finance does the dealer or the finance house get the cash first to disperse?If anything, I'd say be wary of a dealer that does accept CC. As it is probably somebody desperate to get cash in the bank by any means necessary.
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