Big engined car values - private sales

[briers]

Looking for advice on the values and ease of sale of big engined cars when selling privately in current conditions.

I'm currently looking for an XFR, cars that started at around 60k-64k now 3 years on are worth only 28k-31k from dealers so original owners got a terrible deal on these on trade in.

Good time for me to buy as I prefer to buy with cash once most of depreciation has happened. However jag dealers sticking with their prices, hardly any or no movement on cash sale. Can't help thinking this is still going to loose me 2k-3k a year and then be almost impossible to sell privately when I've got bored.

So are the dealers pricing these to sell or should I be holding out for a better deal? I assume selling a v8 17mpg car in this day and age especially privately isn't going to have a queue of people at the door without silly discounts?

[crosseyedlion]

briers said:

Looking for advice on the values and ease of sale of big engined cars when selling privately in current conditions.

I'm currently looking for an XFR, cars that started at around 60k-64k now 3 years on are worth only 28k-31k from dealers so original owners got a terrible deal on these on trade in.

Good time for me to buy as I prefer to buy with cash once most of depreciation has happened. However jag dealers sticking with their prices, hardly any or no movement on cash sale. Can't help thinking this is still going to loose me 2k-3k a year and then be almost impossible to sell privately when I've got bored.

So are the dealers pricing these to sell or should I be holding out for a better deal? I assume selling a v8 17mpg car in this day and age especially privately isn't going to have a queue of people at the door without silly discounts?

I think its very much a case of, if you can afford the car - the slight extra in annual fuel costs will be insignificant. And also, on a run they can actually give reasonable economy.

[briers]

The fuel consumption is ok for me i'm just wondering what the value might be when i come to sell in 1, 2 or even 3 years time.

On the private market i might not be able to shift this without some serious discounting so i'm trying to get a least a bit of cash off the purchase. I can afford to do it, just dont like having my pants taken down.

So just wondering what the private market is looking like for these types of cars. Hard to say with the XFR as no private sales yet.

[wemorgan]

Plot graphs of XFR @ 1,2,3,4,5 years old and you'll be able to roughly extrapolate to the car's future value.
I can see a £30k car halving in value in 5 years.

[ryanthescot]

cant you negotiate a good discount for a deal on finance and then pay it all off with the cash you have within 14 days and therefore pay no interest? i'm sure i read someone on here explaining that this could be done.

[briers]

If that is the case i would be interested! I didnt think this was possible, early repayment before 50% of the term without charges but i've never looked into finance properly. Also what about front loaded interest?

Edited by briers on Sunday 6th January 12:45

[LouD86]

Consumer Credit Directive, check it out!! Makes finance much better for you. You also have a 14 day period as mentioned, when you can cancel and pay it off with no charges! Try it!

[Ozzie Osmond]

wemorgan said:

Plot graphs of XFR @ 1,2,3,4,5 years old and you'll be able to roughly extrapolate to the car's future value.
I can see a £30k car halving in value in 5 years.

Yes.

As a rough guide any new car loses about half its value in the first three years.

It then falls by another 50% in the next 3 years, leaving the value of a 6-year old car at about a quarter of its original selling price. After that they tend to lose a relatively fixed amount of money each year.

The blue line on this graph shows the picture,

[POORCARDEALER]

Your not going to buy a 30K Jag without doing at least 10K in over 3 years, will prob be more.

[wemorgan]

POORCARDEALER said:

Your not going to buy a 30K Jag without doing at least 10K in over 3 years, will prob be more.

Especially if you buy through a dealer then p/x it again through a dealer.

[POORCARDEALER]

wemorgan said:

POORCARDEALER said:

Your not going to buy a 30K Jag without doing at least 10K in over 3 years, will prob be more.

Especially if you buy through a dealer then p/x it again through a dealer.

However you buy it. will drop more than 10K in the guides.

[Fox-]

LouD86 said:

Consumer Credit Directive, check it out!! Makes finance much better for you. You also have a 14 day period as mentioned, when you can cancel and pay it off with no charges! Try it!

How does it make it much better from him? The protection afforded by the Consumer Credit Act shield him partially from negative equity, rather than avoiding depreciation. I assume this is what you are referring to. If he is financing a £30,000 car he'd need to have paid back at least £15k before he can hand the car in and simply walk away. An XFR is unlikely to be sub £15k any time soon so its dubious what the benefit of this really is?

[Bowler]

Fox- said:

LouD86 said:

Consumer Credit Directive, check it out!! Makes finance much better for you. You also have a 14 day period as mentioned, when you can cancel and pay it off with no charges! Try it!

How does it make it much better from him? The protection afforded by the Consumer Credit Act shield him partially from negative equity, rather than avoiding depreciation. I assume this is what you are referring to. If he is financing a £30,000 car he'd need to have paid back at least £15k before he can hand the car in and simply walk away. An XFR is unlikely to be sub £15k any time soon so its dubious what the benefit of this really is?

I think what he means is:

Dealer wants to sell on finance (outright purchase) rather than cash = more room to manouvre on selling price due to finance co dealer commission

Buyer signs up, takes the discount by financing the car and pays off it all in one lump sum

= result for both parties, except the finance company

[Aeroresh]

Although if you pay back within the 14 day cooling off period wont the dealer also lose his commission on the finance?

In this event is there anything in the purchase agreement that allows the dealer to come after you for his dosh?

[briers]

Aeroresh said:

Although if you pay back within the 14 day cooling off period wont the dealer also lose his commission on the finance?

In this event is there anything in the purchase agreement that allows the dealer to come after you for his dosh?

Interesting, I would like to know if there is any downsides for the dealer too. If not and I don't pay any charges by cooling off by submitting my cash to pay it off, this seems like there is something in this.

Dealers definitely more interested in doing a deal when taking out finance.

[CaptainSlow]

wemorgan said:

Plot graphs of XFR @ 1,2,3,4,5 years old and you'll be able to roughly extrapolate to the car's future value.
I can see a £30k car halving in value in 5 years.

..and the rest. Valued at £15k at 8 years old? I think it'll be about half that.

[chrisx666]

Maybe ask for a PCP quote - this will give you a good idea what they think the car will actually be worth in 2/3 years.

[smokey145]

briers said:

Looking for advice on the values and ease of sale of big engined cars when selling privately in current conditions.

I'm currently looking for an XFR, cars that started at around 60k-64k now 3 years on are worth only 28k-31k from dealers so original owners got a terrible deal on these on trade in.

Good time for me to buy as I prefer to buy with cash once most of depreciation has happened. However jag dealers sticking with their prices, hardly any or no movement on cash sale. Can't help thinking this is still going to loose me 2k-3k a year and then be almost impossible to sell privately when I've got bored.

So are the dealers pricing these to sell or should I be holding out for a better deal? I assume selling a v8 17mpg car in this day and age especially privately isn't going to have a queue of people at the door without silly discounts?

not as a dealer i would imagine. some are realistic and will move stock for the appropriate price. some are deluded and will just keep hold of the car until the right customer comes along to buy it. and after time, that "right" customer will come.

as a private seller, ive had no problem getting rid of my large engined cars as they are the types of vehicles that have a following, if you want one you know everything that comes with them.

[ajb85]

Get yourself down the auction. I see high end stuff that I can't afford (Cayenne Turbos, SL55 Mercs etc) go for absolute peanuts. I'm only assuming, but Jag dealers must have a hefty margin on something like an XFR.

[GTRmad]

Jesus"These have dropped in price.What a bargain for such a great looking car.
Nice example http://www.autotrader.co.uk/classified/advert/2012...