Secondhand car price crash? (Vol. 2)
Discussion
The luxury car tax is an envy tax. There is no reason to load VED for 5 years because someone had the audacity to pay over £40k for a car.
That said, some older cars are absolutely hammered with ved under the ‘old’ rules. Think a 56 plate s2000 is £590. A 2014 X5 4.4 is over £700. Makes many old cars very unattractive and running costs like that do matter.
The principal as much as the cost.
That said, some older cars are absolutely hammered with ved under the ‘old’ rules. Think a 56 plate s2000 is £590. A 2014 X5 4.4 is over £700. Makes many old cars very unattractive and running costs like that do matter.
The principal as much as the cost.
ACCYSTAN said:
Bottom end of the market is still busy, was droping of at evans halshaw today and the sales lad tells me anything upto £6k sells within 2 weeks.
I didn’t think evans halshaw did a lot under £5k but I was wrong.
They now put the cheap stuff at the front of the lot, there’s more interest in that than the 8 21 plate Ford focus they have lined up.
This rings true,I didn’t think evans halshaw did a lot under £5k but I was wrong.
They now put the cheap stuff at the front of the lot, there’s more interest in that than the 8 21 plate Ford focus they have lined up.
Took a deposit on a very Miley van today, no interest above 5k, flew at 4.5.
Ford offered 5k for a Nissan as a trade in (sending pics to Mannheim to get the figure) which Nissan wanted to give 3.5 for, the Nissan young gun leaving the sales manager's notes the px would be up at 9495. Ford would auc it.
Started back on Ford's mid last month after a disaster with a Focus, every post 22 facelift Focus looked at has been reduced as the month ticked over. Oddly the earlier one (like those 21 plates) have stayed firm. Wondering if that's the newer ones being Ford Direct types and under manufacture's warranty, the older ones maybe dealt with in a different way.
One dealer told me he hasn't sold a new Focus since Christmas, they all say the glitzy Pumas fly, and two have been brazen about offering naff all for Fiestas "because they don't make them any more" but all forecourt prices are up "because they don't make them anymore".
As Gambon said in Layer Cake, Always remember young man, the art of good business is being a good middleman.
Deep Thought said:
The typical "scam" out there is for to be a driveway trader masquerading as a private seller to avoid their consumer rights obligations (and likely tax and VAT too).
So they'll be using their experience and / or slight of hand to ensure they have either a compelling reason as to why the address on the V5C doesnt match where they're meeting you, or why they're selling a car so soon after buying it ("just found out the wifes pregnant, need an auto, need a manual, just lost my job, etc") or slight of hand so that you dont notice that the V5C isnt in their name / address.
Either that or they'll simply attempt to hide behind "private sale mate" when you discover the morning after you buy it that it rattles like a bag full of spanners when starting from cold.
Obviously everyone on here is a powerfully built company director and will spot their ruse immediately, but it is why a lot of people out there are worried about buying privately and therefore dont.
I can spot them. Basically it's 95% of "private sales" So they'll be using their experience and / or slight of hand to ensure they have either a compelling reason as to why the address on the V5C doesnt match where they're meeting you, or why they're selling a car so soon after buying it ("just found out the wifes pregnant, need an auto, need a manual, just lost my job, etc") or slight of hand so that you dont notice that the V5C isnt in their name / address.
Either that or they'll simply attempt to hide behind "private sale mate" when you discover the morning after you buy it that it rattles like a bag full of spanners when starting from cold.
Obviously everyone on here is a powerfully built company director and will spot their ruse immediately, but it is why a lot of people out there are worried about buying privately and therefore dont.
Hardly anyone genuinely selling thier own car wants the pain of selling privately.
Sold my son's car last year,with him, and Gum tree and Facebook just yielded mouth breathing morons trying to get it fir scrap value. Do they not realise that we can see your history, what you've got for sale, who you are in a relationship with, you racist tattooed wannabe ganzta.
Sold easily on autotrader, to someone who needed "An" car.
AlexNJ89 said:
What are people's theories on sub £5k being so in-demand?
Interest rates have dropped now which was the original theory.
Some people, have looked at thier fixed rate mortgage, which is currently 1.5%, and coming to the end in October and thinking they might need to sell the house.....Interest rates have dropped now which was the original theory.
If the current car dies, they will be looking sub 5k
Note. Conversation my wife had with her friend, who due to an ex husbands financial mis-management previously, now owns the family home, with a mortgage, when most people her age would have paid it off years ago.
Fusion777 said:
A sub-£5k car can meet a lot of people's requirements. A lot can still be fairly well equipped, comfortable, not too dated, etc. Cheap stuff is pretty much always in demand, whether it's clothes, food or cars.
Indeed. 'Twas always the same.Cheapie cars always sell. Its just that inflation has driven that price point up a bit.
My mates picked up for his 19 year old daughter a 18 plate Suzuki Celerio Cat N for £3500
Genuine 36k on the clock, minor repair to rear end, has the crash photos on vehicle check.
For £3500 for a reliable economical petrol only 6 years old, absolute bargain especially if they keep it and run it into the ground.
Genuine 36k on the clock, minor repair to rear end, has the crash photos on vehicle check.
For £3500 for a reliable economical petrol only 6 years old, absolute bargain especially if they keep it and run it into the ground.
ACCYSTAN said:
I meant to add, he was buying a Cat N Citroen 72 plate L’ami but surprisingly the insurance was hideously expensive (more than treble) compared to the Celerio.
Surprised at the insurance as it’s only a 2 seater and not exactly fast with a top speed of 27.
Is it because it’s electric?
Insurance on anything electric is hideous because they are known to self-combust and destroy themselves along with pretty much everything within a 50 yard radius. Insurance price reflects that, as they have to pay out not only to replace yours, but the owners of everything that got torched within that radius.Surprised at the insurance as it’s only a 2 seater and not exactly fast with a top speed of 27.
Is it because it’s electric?
Pit Pony said:
Deep Thought said:
The typical "scam" out there is for to be a driveway trader masquerading as a private seller to avoid their consumer rights obligations (and likely tax and VAT too).
So they'll be using their experience and / or slight of hand to ensure they have either a compelling reason as to why the address on the V5C doesnt match where they're meeting you, or why they're selling a car so soon after buying it ("just found out the wifes pregnant, need an auto, need a manual, just lost my job, etc") or slight of hand so that you dont notice that the V5C isnt in their name / address.
Either that or they'll simply attempt to hide behind "private sale mate" when you discover the morning after you buy it that it rattles like a bag full of spanners when starting from cold.
Obviously everyone on here is a powerfully built company director and will spot their ruse immediately, but it is why a lot of people out there are worried about buying privately and therefore dont.
I can spot them. Basically it's 95% of "private sales" So they'll be using their experience and / or slight of hand to ensure they have either a compelling reason as to why the address on the V5C doesnt match where they're meeting you, or why they're selling a car so soon after buying it ("just found out the wifes pregnant, need an auto, need a manual, just lost my job, etc") or slight of hand so that you dont notice that the V5C isnt in their name / address.
Either that or they'll simply attempt to hide behind "private sale mate" when you discover the morning after you buy it that it rattles like a bag full of spanners when starting from cold.
Obviously everyone on here is a powerfully built company director and will spot their ruse immediately, but it is why a lot of people out there are worried about buying privately and therefore dont.
Hardly anyone genuinely selling thier own car wants the pain of selling privately.
Sold my son's car last year,with him, and Gum tree and Facebook just yielded mouth breathing morons trying to get it fir scrap value. Do they not realise that we can see your history, what you've got for sale, who you are in a relationship with, you racist tattooed wannabe ganzta.
Sold easily on autotrader, to someone who needed "An" car.
I can totally see why the general public don't want to sell or buy privately.
r3g said:
Insurance on anything electric is hideous because they are known to self-combust and destroy themselves along with pretty much everything within a 50 yard radius. Insurance price reflects that, as they have to pay out not only to replace yours, but the owners of everything that got torched within that radius.
Is this irony? Because otherwise, it's total b******x. sixor8 said:
r3g said:
Insurance on anything electric is hideous because they are known to self-combust and destroy themselves along with pretty much everything within a 50 yard radius. Insurance price reflects that, as they have to pay out not only to replace yours, but the owners of everything that got torched within that radius.
Is this irony? Because otherwise, it's total b******x. Perhaps is because damaged batteries are so expensive to replace.
sturge7878 said:
Why are the premiums so much higher then?
Perhaps is because damaged batteries are so expensive to replace.
They only represent a couple of % of the cars on the road, being in a niche is rarely good for insurance premiums. There can be some valid uncertainty or increased risks, but often it's just profit making.Perhaps is because damaged batteries are so expensive to replace.
EV drivers are a great target right now, plenty of people well into negative equity who won't have a choice but to pay.
griffter said:
AlexNJ89 said:
What are people's theories on sub £5k being so in-demand?
Interest rates have dropped now which was the original theory.
Prices affected by inflation are still high and rising. Interest rates reducing doesn’t make things cheaper. Interest rates have dropped now which was the original theory.
r3g said:
ACCYSTAN said:
I meant to add, he was buying a Cat N Citroen 72 plate L’ami but surprisingly the insurance was hideously expensive (more than treble) compared to the Celerio.
Surprised at the insurance as it’s only a 2 seater and not exactly fast with a top speed of 27.
Is it because it’s electric?
Insurance on anything electric is hideous because they are known to self-combust and destroy themselves along with pretty much everything within a 50 yard radius. Insurance price reflects that, as they have to pay out not only to replace yours, but the owners of everything that got torched within that radius.Surprised at the insurance as it’s only a 2 seater and not exactly fast with a top speed of 27.
Is it because it’s electric?
Gassing Station | Car Buying | Top of Page | What's New | My Stuff