It’s been up for sale for how long!!!
Discussion
I have noticed something that makes no sense to me:
I have been thinking about a replacement weekday driver on and off since last December, it’s not urgent as my current one is reliable and work/family always take priority (hence why so long). I usually do a “high to low” search in the classifieds as I want a good one. I keep seeing a small number of cars advertised for months on end (nearly a year with one) so obviously no-one wants them at that price, but no change in price for months! OK, their car, their choice. Even noticed one increase in price! This is while others of the same kind are depreciating as normal – what’s that about?
last Winter there was one on-line at £6,750 (reduced to approx’ £6,300 recently) making it one of the most expensive available. It looked OK (they always do…), but it was the other end of the country and the mileage was exceedingly high for the price (I buy on condition, but I am not going to pay 25K mile money for a car with over 50K miles).
These are not expensive classics; they have a one way ticket to a £1,000 SOTW, in fact older/higher mileage examples have been SOTW! most are at independent dealer cars, so I would assume they wouldn't want stock sitting for months, a private buyer might be irrational and keep the price constant, but a dealer with cash tied up in a depreciating car while paying for advertising and upkeep and space on the forecourt?
Am I missing something as it doesn't make any sense to me?
I have been thinking about a replacement weekday driver on and off since last December, it’s not urgent as my current one is reliable and work/family always take priority (hence why so long). I usually do a “high to low” search in the classifieds as I want a good one. I keep seeing a small number of cars advertised for months on end (nearly a year with one) so obviously no-one wants them at that price, but no change in price for months! OK, their car, their choice. Even noticed one increase in price! This is while others of the same kind are depreciating as normal – what’s that about?
last Winter there was one on-line at £6,750 (reduced to approx’ £6,300 recently) making it one of the most expensive available. It looked OK (they always do…), but it was the other end of the country and the mileage was exceedingly high for the price (I buy on condition, but I am not going to pay 25K mile money for a car with over 50K miles).
These are not expensive classics; they have a one way ticket to a £1,000 SOTW, in fact older/higher mileage examples have been SOTW! most are at independent dealer cars, so I would assume they wouldn't want stock sitting for months, a private buyer might be irrational and keep the price constant, but a dealer with cash tied up in a depreciating car while paying for advertising and upkeep and space on the forecourt?
Am I missing something as it doesn't make any sense to me?
I was told once that garages/second-hand car dealers receive credit/bank loans on the basis of the value of their stock, so reducing car prices reduces their credit facility to buy more in. This was after spotting a load of overpriced cars sat in stock for ages at a big, prestige dealer.
CYMR0 said:
Decimal point in the wrong place?
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