Dealers Report Huge Drop In Luxury Used Car prices

[Gnevans]

What it seems to mean reading between the lines is:

A huge drop in what they will offer you for your car.

https://www.autocar.co.uk/car-news/industry-news/d...

[johnnyreggae]

The article from which the Autocar story is a synopsis is this https://cardealermagazine.co.uk/publish/luxury-car...

[bennno]

Not seeing that currently.... few cars for sale and prices high.

[Crazy4557]

I've found the opposite. Back in late June I bought a late Range Rover and WBAC have offered me a price just £4k less after 4.5k miles and I bought at main dealer price levels, I don't see that as an example of a large drop in luxury car prices.

[Gnevans]

I think they mean supercars rather than luxury. I also think they are trying to prepare people for lowball trade in offers. There doesn’t seem to be an over supply at the moment.

[Cheib]

Gnevans said:

I think they mean supercars rather than luxury. I also think they are trying to prepare people for lowball trade in offers. There doesn’t seem to be an over supply at the moment.

I think for models they are talking about like the 812 Superfast it’s been observed and discussed on here....I think all new Ferrari’s have had a tough time this year ? I do agree it’s probably a bit of “book talking” but equally they are maybe trying to get people interested as cars are transacting below advertised prices. Aston and McLaren might be in a different place as they have suffered the deprecation and used stocks are lower than they were although a lot of cars sold on finance deals so will be coming back on the market in 12 months or so.

[danh89]

I haven’t taken notice of any prices other than F12’s as that’s what I have.

The white F12 at Amari was there when I was looking last Christmas and has seen £20k slashed off the price...

Manchester Ferrari sent me vid of an F12 when I was looking that had just come in January, that is still for sale and has seen £20k off it

Huracan performante maybe suffered around £10k which I would expect as normal depreciation for this model? In 12 months as I am sure they were floating about £180k back in Jan

[Turbo cab]

Note that the add refers to Tom Hartley who's motto is "We always pay more"

Well i can tell you personally that he doesn't.

Across three cars that he's bid on from me i've sold them all collectively for over £100k more. I just cant fathom the type of desperados he does business with, either that or theres definitely no repeat business once they see their car advertised for more than what he told them it was worth retail.

Anyway rather my pocket than yours Tiny Tom.

Edited by Turbo cab on Friday 4th December 21:06

[rat rod]

Gnevans said:

What it seems to mean reading between the lines is:

A huge drop in what they will offer you for your car.

https://www.autocar.co.uk/car-news/industry-news/d...

Here we go again yet another boring doom and gloom thread. Yes certain cars will take a hit and deservedly so as they've been over priced for far to long but that would have happened anyway.

Does that mean we got to put up with post upon post from the usual scaremongers saying the same thing over and over again
Get a life

[Cheib]

Turbo cab said:

Note that the add refers to Tom Hartley who's motto is "We always pay more"

Well i can tell you personally that he doesn't.

Across three cars that he's bid on from me i've sold them all collectively for over £100k more. I just cant fathom the type of desperados he does business with, either that or theres definitely no repeat business once they see their car advertised for more than what he told them it was worth retail.

Anyway rather my pocket than yours Tiny Tom.

Edited by Turbo cab on Friday 4th December 21:06

I can only think he does well out of the people that have to sell rather than want to sell.

[BlackR8]

Interesting that these same dealers are plastering over their social media that they are really busy and cars are selling fast and in many cases before even being listed.

[GT4RS]

You only have to look at home long certain high end cars have been advertised to tell they are struggling.

I’m pretty sure I read on here Dick Lovett have 5 Pista’s available, but not all are advertised.

[footsoldier]

Wait for the excitement and cross-posting when people find out that the Speciale that just sold on Collecting Cars, has just turned up in stock at Hartley HQ....

[gunner]

re Pistas at Dick Lovett I'd be a buyer at 5...more like double figures I've heard...

[DMZ]

I don’t know if there’s a devious purpose behind the article other than generating clicks, a bit of PR, and social media excitement but the examples they are using in the article are two cars well known for depreciation, are they not? I’m mostly amazed that someone paid 100k over list for an 812 but hindsight is a great thing perhaps.

[HIS LM]

footsoldier said:

Wait for the excitement and cross-posting when people find out that the Speciale that just sold on Collecting Cars, has just turned up in stock at Hartley HQ....

Coming soon £240k nice little mark up !

[The Mad Monk]

Crazy4557 said:

I've found the opposite. Back in late June I bought a late Range Rover and WBAC have offered me a price just £4k less after 4.5k miles and I bought at main dealer price levels, I don't see that as an example of a large drop in luxury car prices.

Why are you selling it?

[TP321]

HIS LM said:

Coming soon £240k nice little mark up !

...and then we wonder why we all go on about depreciation - these dealers wont get out of bed unless there is a £25k profit in it for them, which just goes to show that a big part of "depreciation" is actually the dealers profit - who actually adds no value to your car. Money down the drain for nothing.

I am actually happy CC exists - its giving us all a chance to see the numbers involved with buying and selling used cars.

[BlackR8]

TP321 said:

HIS LM said:

Coming soon £240k nice little mark up !

...and then we wonder why we all go on about depreciation - these dealers wont get out of bed unless there is a £25k profit in it for them, which just goes to show that a big part of "depreciation" is actually the dealers profit - who actually adds no value to your car. Money down the drain for nothing.

I am actually happy CC exists - its giving us all a chance to see the numbers involved with buying and selling used cars.

A 2018 Ceramic Grey 570s sold for £81,600 on CC last week, and I think it is the exact same car up a few days later for £96,980. So it does seem at least a £15k profit per car is what dealers want on cars around this sort of price.

[TP321]

BlackR8 said:

A 2018 Ceramic Grey 570s sold for £81,600 on CC last week, and I think it is the exact same car up a few days later for £96,980. So it does seem at least a £15k profit per car is what dealers want on cars around this sort of price.

That works out at 20% mark up.