Is the used car market totally dead ?
Discussion
I know its xmas but historically Ive always sold my cars around this time with no issue
This year Im trying to sell my M4.....immaculate car advertised with a proper description, good pics and most importantly very keenly priced (towards the cheapest on the market for age/spec/miles)
Its been on autotrader for a month now and not a single enquiry
Its a cheap car so I dont think I want to price drop any further
Which brings me to my question....is the market just dead with covid and all its woes ?
This year Im trying to sell my M4.....immaculate car advertised with a proper description, good pics and most importantly very keenly priced (towards the cheapest on the market for age/spec/miles)
Its been on autotrader for a month now and not a single enquiry
Its a cheap car so I dont think I want to price drop any further
Which brings me to my question....is the market just dead with covid and all its woes ?
I wonder if the market overall is good, it is btw, alot of cars under £5k are going for more now than they were pre covid, but certain cars aren't, an M4 is an expensive car to buy and run and not that practical Vs the M3. Alot of people aren't driving much so the need for a second car or weekend car has reduced.
I reckon it's this type of car which will suddenly be in demand once this is over, confidence increases and people start to treat themselves
There will be buyers out there still but I suspect it's a small market right now
Trevor has a good point though, maybe too expensive for a private purchase given the risk. Might be worth looking for a dealer to sell it on your behalf
I reckon it's this type of car which will suddenly be in demand once this is over, confidence increases and people start to treat themselves
There will be buyers out there still but I suspect it's a small market right now
Trevor has a good point though, maybe too expensive for a private purchase given the risk. Might be worth looking for a dealer to sell it on your behalf
The used car market is doing well; however, the private used car mkt has not been good for a few years, especially at this price point.
I sold a few £15k to £130k cars to trade over the past few years, all to be sold in weeks at between 15% to 8% more to retail in weeks, some were still under warranty, so needed for nothing..
You might find selling to WBAC or a specialist trader gets more than a private sale.
Zero calls suggests the price is wrong.
I sold a few £15k to £130k cars to trade over the past few years, all to be sold in weeks at between 15% to 8% more to retail in weeks, some were still under warranty, so needed for nothing..
You might find selling to WBAC or a specialist trader gets more than a private sale.
Zero calls suggests the price is wrong.
I just sold my 350Z, advertised it here on PH, sale was agreed within a week of the ad going live, car was collected today. There wasn't a flood of buyers but I had one or two other interested parties. However, that was sub-£10k so a different market and much more amenable to a private sale.
The numbers of cars for sale is a lot lower than normal I thought (at least 350Zs), so I guess trading is 'thin' but there are still buyers out there.
I echo the above suggestions, try looking for dealers that sell that sort of car and email them offering it for the same asking price. I actually did with my Z first, but because it wasn't a resaleable spec (no GT pack) they didn't bite. But I think they would've if it had been a spec they could easily sell.
Tbh with it being Christmas week now I'd not expect much retail interest until January anyway.
snotrag said:
Cheap/older cars are easy to sell.
An M4 is always gonna be tricky at a private sale - I suggested to a colleague that he see if his local Merc dealer were interested in his car, they snapped it up.
Go see if BMW will buy it off you!
I wouldn't say that... An M4 is always gonna be tricky at a private sale - I suggested to a colleague that he see if his local Merc dealer were interested in his car, they snapped it up.
Go see if BMW will buy it off you!
I'm currently trying to sell my 2008 V50, priced it extremely reasonably (Sub £2.5K), all belts recently done, full history, good photos, full valeted and top spec.
I've had 1 enquiry in the past 2 weeks.
Checked against V50s with similiar miles but less history, no mention of belts etc and its priced couple of hundred lower. Loathed to go any lower, might just end up keeping it!
CoreyDog said:
snotrag said:
Cheap/older cars are easy to sell.
An M4 is always gonna be tricky at a private sale - I suggested to a colleague that he see if his local Merc dealer were interested in his car, they snapped it up.
Go see if BMW will buy it off you!
I wouldn't say that... An M4 is always gonna be tricky at a private sale - I suggested to a colleague that he see if his local Merc dealer were interested in his car, they snapped it up.
Go see if BMW will buy it off you!
I'm currently trying to sell my 2008 V50, priced it extremely reasonably (Sub £2.5K), all belts recently done, full history, good photos, full valeted and top spec.
I've had 1 enquiry in the past 2 weeks.
Checked against V50s with similiar miles but less history, no mention of belts etc and its priced couple of hundred lower. Loathed to go any lower, might just end up keeping it!
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