Will private car sales make a comeback?
Discussion
We all know that private sales as a % of car sales have declined the past however many years/decades, because let's face it, it's easier.
Seems to me that the gulf between trade in/auction values and retail values are getting very high. Particularly if you do the common thing of giving your car to WBAC or similar, where in that chain there are a few people who have to make separate stages of profit (WBAC / Auction / Dealer) before the car is ultimately sold on, & all of them are facing higher costs these days.
With everyone having much less disposable income, bank transfers being instant and secure, so much info available with a few clicks (MOT history, HPI etc), will buying privately start to look appealing & worth the hassle once more?
Seems to me that the gulf between trade in/auction values and retail values are getting very high. Particularly if you do the common thing of giving your car to WBAC or similar, where in that chain there are a few people who have to make separate stages of profit (WBAC / Auction / Dealer) before the car is ultimately sold on, & all of them are facing higher costs these days.
With everyone having much less disposable income, bank transfers being instant and secure, so much info available with a few clicks (MOT history, HPI etc), will buying privately start to look appealing & worth the hassle once more?
I always sell my cars privately as I always think its worth the extra money received, I also enjoy the process, maybe I'm one of the minority.
The issue and challenge comes the more expensive the car is, as so many people need to arrange finance to purchase their next car and rather than arrange their own loan (bank etc) they are drawn to the monthly payments via the dealer - a one stop shop.
Perhaps the cut off point is £10k.
I always look to buy privately as well, although for my latest car I bought it via a dealer as there was only a limited supply of that car available for sale at that time, the one for sale privately I was interested in was at a very similar price to the one at the dealer.
The issue and challenge comes the more expensive the car is, as so many people need to arrange finance to purchase their next car and rather than arrange their own loan (bank etc) they are drawn to the monthly payments via the dealer - a one stop shop.
Perhaps the cut off point is £10k.
I always look to buy privately as well, although for my latest car I bought it via a dealer as there was only a limited supply of that car available for sale at that time, the one for sale privately I was interested in was at a very similar price to the one at the dealer.
At what age point in the market?
Over the last 10 years, all the cars we've bought have been from traders, and they've all been in the under £10k world.
Private sellers want too much money.
The CRA gives you some comfort at least with a trade purchase.
There are too many cars for sale with 'issues'.
Further up the food chain, lots of cars are ex-lease, ex fleet PCP returns, the trade has a firm grip on the market.
Before 10 years ago, I would mostly be looking at private sellers
Over the last 10 years, all the cars we've bought have been from traders, and they've all been in the under £10k world.
Private sellers want too much money.
The CRA gives you some comfort at least with a trade purchase.
There are too many cars for sale with 'issues'.
Further up the food chain, lots of cars are ex-lease, ex fleet PCP returns, the trade has a firm grip on the market.
Before 10 years ago, I would mostly be looking at private sellers
DaveCWK said:
We all know that private sales as a % of car sales have declined the past however many years/decades, because let's face it, it's easier.
Seems to me that the gulf between trade in/auction values and retail values are getting very high. Particularly if you do the common thing of giving your car to WBAC or similar, where in that chain there are a few people who have to make separate stages of profit (WBAC / Auction / Dealer) before the car is ultimately sold on, & all of them are facing higher costs these days.
With everyone having much less disposable income, bank transfers being instant and secure, so much info available with a few clicks (MOT history, HPI etc), will buying privately start to look appealing & worth the hassle once more?
Do you have data or is it just a hunch?Seems to me that the gulf between trade in/auction values and retail values are getting very high. Particularly if you do the common thing of giving your car to WBAC or similar, where in that chain there are a few people who have to make separate stages of profit (WBAC / Auction / Dealer) before the car is ultimately sold on, & all of them are facing higher costs these days.
With everyone having much less disposable income, bank transfers being instant and secure, so much info available with a few clicks (MOT history, HPI etc), will buying privately start to look appealing & worth the hassle once more?
DaveCWK said:
We all know that private sales as a % of car sales have declined the past however many years/decades, because let's face it, it's easier.
Seems to me that the gulf between trade in/auction values and retail values are getting very high. Particularly if you do the common thing of giving your car to WBAC or similar, where in that chain there are a few people who have to make separate stages of profit (WBAC / Auction / Dealer) before the car is ultimately sold on, & all of them are facing higher costs these days.
With everyone having much less disposable income, bank transfers being instant and secure, so much info available with a few clicks (MOT history, HPI etc), will buying privately start to look appealing & worth the hassle once more?
No. The number of old-timers who know to what to look for and enjoy getting a bargain is rapidly diminishing as they die out. The youngsters generally speaking don't have the first clue about cars and don't know what to look for, plus are also frightened to death of having to fix it if it breaks so they will always buy from a dealer with the protection of a warranty (even though it's typicall worthless) and are happy to pay the 20% premium.Seems to me that the gulf between trade in/auction values and retail values are getting very high. Particularly if you do the common thing of giving your car to WBAC or similar, where in that chain there are a few people who have to make separate stages of profit (WBAC / Auction / Dealer) before the car is ultimately sold on, & all of them are facing higher costs these days.
With everyone having much less disposable income, bank transfers being instant and secure, so much info available with a few clicks (MOT history, HPI etc), will buying privately start to look appealing & worth the hassle once more?
Doubt it, I think dealing with the general public with their unrealistic expectation of second hand cars and the fact they all "know their rights" and expect to be able to return the car if they change their mind, or take you to court if it breaks down means that few people want to risk that sort of grief.
I drive sheds, once I am done with them they either get given to immediate family or get crushed.
I drive sheds, once I am done with them they either get given to immediate family or get crushed.
ThingsBehindTheSun said:
Doubt it, I think dealing with the general public with their unrealistic expectation of second hand cars and the fact they all "know their rights" and expect to be able to return the car if they change their mind, or take you to court if it breaks down means that few people want to risk that sort of grief.
ThisThingsBehindTheSun said:
Doubt it, I think dealing with the general public with their unrealistic expectation of second hand cars and the fact they all "know their rights" and expect to be able to return the car if they change their mind, or take you to court if it breaks down means that few people want to risk that sort of grief.
I drive sheds, once I am done with them they either get given to immediate family or get crushed.
Surely that is an argument for dealers losing market share and private sellers increasing?I drive sheds, once I am done with them they either get given to immediate family or get crushed.
Tisy said:
No. The number of old-timers who know to what to look for and enjoy getting a bargain is rapidly diminishing as they die out. The youngsters generally speaking don't have the first clue about cars and don't know what to look for, plus are also frightened to death of having to fix it if it breaks so they will always buy from a dealer with the protection of a warranty (even though it's typicall worthless) and are happy to pay the 20% premium.
Depressing... times change, some of that change is progress, some is the opposite.I'm half an "old timer", not a big expert and love a bargain.
But most of all, this is my thinking when I buy a car at the sort of low price point I buy at... do I?
(1) Spend £6k on what is theoretically a good older car with a warranty, but which could die and become worthless the day after the warranty expires, and which best case is going to have things go wrong from time to time because it's old.
Or
(2) Spend £4k on what is theoretically an almost as good older car with no warranty, which could die and become worthless the day after I buy, and which best case is going to have things go wrong from time to time because it's old.
Add in the fact that a lot of motor dealers are idiots (not saying crooks, just idiots) and I'll go private almost every time. Last time I visited a dealer he had the car at him home not at his garage; didn't take it out of the underground car park so I could see it properly, or ask if I wanted a test drive; it wasn't properly cleaned; wanted top money for decent-ish car; laughed in my face at the prospect of a discount (he dropped the price at least 20% over the following two months because it was massively overpriced, and for all I know he still has it or dropped more to get a sale). I ended up spending 60% less on a car 30% worse on paper, but which could easily be more reliable than the lower mileage dealer one would have been.
Tisy said:
No. The number of old-timers who know to what to look for and enjoy getting a bargain is rapidly diminishing as they die out. The youngsters generally speaking don't have the first clue about cars and don't know what to look for, plus are also frightened to death of having to fix it if it breaks so they will always buy from a dealer with the protection of a warranty (even though it's typicall worthless) and are happy to pay the 20% premium.
Good point!It's not just the people changing, modern used cars are different from what we grew up with.
Complicated electrics, transmissions lots of stuff that's expensive to fix.
We learned a lot of stuff about points and condensers and carbs that people just don't need to know these days.
Also buying and selling privately, does seem to involve meeting people who range from 'hard to trust' downwards.
And if you buy a used car privately and find a few things need fixing, dealing with the motor trade to get stuff done can be a nightmare.
I'd be happy to buy my next car privately, but you have to be selective, dealing with 'norms' who have jobs and lives becomes a very time consuming process, you can look at a similar number of cars in the trade much more quickly.
I think the problem is there's very little market for condition of the car. More and more cars are bought without even viewing these days.
For example I think there's an argument that my car is the best example at the age and mileage. But sold privately it'll be worth a bit less than the cheapest for sale at a trader in the same spec. Unless you find a rare buyer that actually values condition and is prepared to buy privately.
Most often not worth the hassle.
For example I think there's an argument that my car is the best example at the age and mileage. But sold privately it'll be worth a bit less than the cheapest for sale at a trader in the same spec. Unless you find a rare buyer that actually values condition and is prepared to buy privately.
Most often not worth the hassle.
Was dreading selling my car privately 15 year old audi with 125k miles on the clock. Put on Gumtree for 3k. Sold to the first and only person who enquired in 4 days. No hassle no haggle
Didnt get any silly half price offers or any time wasters at all. Just the one guy who came looked and bought. Double what motorway offerd and almost triple wbac
I think anything over 10 years or 100k miles and under 10k will most likely be private as the trade in values are so low
Didnt get any silly half price offers or any time wasters at all. Just the one guy who came looked and bought. Double what motorway offerd and almost triple wbac
I think anything over 10 years or 100k miles and under 10k will most likely be private as the trade in values are so low
Imho people will hold on to their current cars for longer. EV not great for all + poor infrastructure + tax going up for new ICE blah blah. As ICE gets older and older though more expensive to keep on the road. Next 10 years through to 2035 gonna be very tough for car manufacturers and the car market in general imho.
TX.
TX.
sunnyb13 said:
depends on the car. a bog standard car 3-7 years old, easier to go via motorway as it fetches almost the same money as a private sale.
anything more interesting/ performance related, or trade values are highly off, then private sale.
This. Anything under 10 years old and remotely mainstream may as well just go on Motorway. Niche, PH-esque, cars are normally worth a private sale. anything more interesting/ performance related, or trade values are highly off, then private sale.
From personal experience selling privately, the car always needs to be priced at the bottom of the market/autotrader even if it is in great condition to get any interest.
Will private sales make a comeback? I can't see it.
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