F430 prices

[JDH1]

Just noticed some 430 prices seem to have dropped while I wasn't looking. Now several available at below £90k with reasonable mileages. Strange thing is that they all seem to be at main dealers rather than private. Private prices still a lot higher. Seems strange. Is it just a case of unrealistic private sellers? Starting to look very tempting now.

[gumshoe]

I bet there are a lot of negative equity owners still not facing up to the fact that their car is only going one way on price, and that's down. It's in the sheer desperate hope that someone will bail them out of their monthly payment misery and unbearable negative equity. Most probably they can't pay the £20k negative they have on exiting if a stealer or anyone with the readies to buy would leave them in.

Once summer is over, I'd bet you'll see even more price drops on these cars. Wait it outa little longer, they are not going to get more expensive that's for sure!

[Murcielago_Boy]

gumshoe said:

I bet there are a lot of negative equity owners still not facing up to the fact that their car is only going one way on price, and that's down. It's in the sheer desperate hope that someone will bail them out of their monthly payment misery and unbearable negative equity. Most probably they can't pay the £20k negative they have on exiting if a stealer or anyone with the readies to buy would leave them in.

Once summer is over, I'd bet you'll see even more price drops on these cars. Wait it outa little longer, they are not going to get more expensive that's for sure!

Edited by Murcielago_Boy on Friday 27th June 10:32

[LittleBro]

Someone told me recently that there are more 430's in the dealer network than there are in private hands!

[jo5eph]

great news, theyll be 75k before you know it and ill be able to px my 360 for a miserly 40k

[Huliganov]

They'll carry on dropping at a faster rate than they normally would due to this credit crunch. Infact, most are on finance anyway.

Edited by Huliganov on Sunday 13th July 11:33

[Webber3]

Huliganov said:

They'll carry on dropping at a faster rate than they normally would due to this credit crunch. Infact, most are on finance anyway.

Edited by Huliganov on Sunday 13th July 11:33

Kind of glad I didn't buy a 430 Spider this year now. I couldn't see the point in buying another convertible, what with the the sh*tty summer we've had . You have to be a real optimist to buy a convertible in this country. Still there's always next year.

Do you really think the majority of these cars were bought on credit? I always assumed most were bought with City bonuses. It will be interesting to see what those bonuses are like this year, if they're bad it can only depress prices further.

Edited by Webber3 on Monday 14th July 00:15

[Huliganov]

Webber3 said:

Huliganov said:

They'll carry on dropping at a faster rate than they normally would due to this credit crunch. Infact, most are on finance anyway.

Edited by Huliganov on Sunday 13th July 11:33

Kind of glad I didn't buy a 430 Spider this year now. I couldn't see the point in buying another convertible, what with the the sh*tty summer we've had . You have to be a real optimist to buy a convertible in this country. Still there's always next year.

Do you really think the majority of these cars were bought on credit? I always assumed most were bought with City bonuses. It will be intersting to see what those bonuses are like this year, if they're bad it can only depress prices further.

I don't know, I'm only assuming that most are on finance. Most people I know with flash cars (M3s, M5s, Merc CLs, SLs, Audi RS4s) have their cars on finance. I can only assume that this trend carries over to other 'higher end' cars as well. People with more expensive cars have more expensive houses, therefore - often - have bigger mortgages, more credit cards, more expensive tastes and so on to keep that level of lifestyle going.

You'd be suprised just how many people have their cars, nay, their entire 'lives' on finance. Infact, if they didn't get paid for two months the majority would be close to financial ruin.

Edited by Huliganov on Sunday 13th July 22:20

Edited by Huliganov on Sunday 13th July 22:21

[Sarnie]

Huliganov said:

Webber3 said:

Huliganov said:

They'll carry on dropping at a faster rate than they normally would due to this credit crunch. Infact, most are on finance anyway.

Edited by Huliganov on Sunday 13th July 11:33

Kind of glad I didn't buy a 430 Spider this year now. I couldn't see the point in buying another convertible, what with the the sh*tty summer we've had . You have to be a real optimist to buy a convertible in this country. Still there's always next year.

Do you really think the majority of these cars were bought on credit? I always assumed most were bought with City bonuses. It will be intersting to see what those bonuses are like this year, if they're bad it can only depress prices further.

I don't know, I'm only assuming that most are on finance. Most people I know with flash cars (M3s, M5s, Merc CLs, SLs, Audi RS4s) have their cars on finance. I can only assume that this trend carries over to other 'higher end' cars as well. People with more expensive cars have more expensive houses, therefore - often - have bigger mortgages, more credit cards, more expensive tastes and so on to keep that level of lifestyle going.

You'd be suprised just how many people have their cars, nay, their entire 'lives' on finance. Infact, if they didn't get paid for two months the majority would be close to financial ruin.

Edited by Huliganov on Sunday 13th July 22:20

Edited by Huliganov on Sunday 13th July 22:21

Thats a very broad 'assumption'

[5to1]

Huliganov said:

Webber3 said:

Huliganov said:

They'll carry on dropping at a faster rate than they normally would due to this credit crunch. Infact, most are on finance anyway.

Edited by Huliganov on Sunday 13th July 11:33

Kind of glad I didn't buy a 430 Spider this year now. I couldn't see the point in buying another convertible, what with the the sh*tty summer we've had . You have to be a real optimist to buy a convertible in this country. Still there's always next year.

Do you really think the majority of these cars were bought on credit? I always assumed most were bought with City bonuses. It will be intersting to see what those bonuses are like this year, if they're bad it can only depress prices further.

I don't know, I'm only assuming that most are on finance. Most people I know with flash cars (M3s, M5s, Merc CLs, SLs, Audi RS4s) have their cars on finance. I can only assume that this trend carries over to other 'higher end' cars as well. People with more expensive cars have more expensive houses, therefore - often - have bigger mortgages, more credit cards, more expensive tastes and so on to keep that level of lifestyle going.

You'd be suprised just how many people have their cars, nay, their entire 'lives' on finance. Infact, if they didn't get paid for two months the majority would be close to financial ruin.

Edited by Huliganov on Sunday 13th July 22:20

Edited by Huliganov on Sunday 13th July 22:21

You may be right, but I think the reasoning is flawed.

I'm sure a fair proportion finance the cars, but I don't think most do that because they are living on a credit funded lifestyle.

With the relative low cost of borrowing we've had, many will feel they can make the money perform better. Thats the main reason people I know buy these things on credit. And largely they've got to this position because they can make the money work hard enough to offset the cost of borrowing for their cars.

However, their are a fair few like me, who believe in the principle "never finance a depreciating assest".

Ofcourse, as with any walk of life, some do live beyond their means while sitting on a credit time bomb. But generally they dont stand the test of time. That bomb eventually goes off and brings them back to a realistic lifestyle for their means.

[bean455]

Just been offered a 430 spider f1 06 06 3000 miles red with cremma electric seats shields for £117,000!

[kryten22uk]

Huliganov said:

Infact, most are on finance anyway.

Huliganov said:

I don't know, I'm only assuming that most are on finance

Huliganov said:

Infact, if they didn't get paid for two months the majority would be close to financial ruin.

Yawn, another finance thread by those with no financial knowledge, making incredibly brash and unfounded statements.

[andy355]

im curious. what investment have people made that has beaten car finance rates and has been worthwhile? assuming you pay tax on your profits of 40% and unless there is an odd subsidy going on the car finance would be libor + so even before current libor/base spread widening would have been circa 6% so you would have to make 10% to break even

as i said, just curious... The appealing side of finance for me on a car would be still to have money in the bank rather than all in an "asset", purely for liquidity

[rmfa30]

Huliganov said:

They'll carry on dropping at a faster rate than they normally would due to this credit crunch. Infact, most are on finance anyway.

Edited by Huliganov on Sunday 13th July 11:33

This has all been said before... there's gonna be a 'bloodbath' pricewise on 430's.....

[3200gt]

Where does everyone think they will be by Feb/March 09? Might just have to get my missus and wallet prepared! (in that order)

[5to1]

andy355 said:

im curious. what investment have people made that has beaten car finance rates and has been worthwhile? assuming you pay tax on your profits of 40% and unless there is an odd subsidy going on the car finance would be libor + so even before current libor/base spread widening would have been circa 6% so you would have to make 10% to break even

as i said, just curious... The appealing side of finance for me on a car would be still to have money in the bank rather than all in an "asset", purely for liquidity

Not something I personally do, as I stated in my previous post. I'm more from the "never finance a depreciating assest" school of thought.

However, to give you some ideas (and this is pre-credit crunch). Firstly, the people I know who do finance expensive cars have a good line of credit. Therefore are able to attain excellent rates of finance. Many will secure the debt against property/release equity which further brings the cost of finance down. Either way, when you've serviced 7/8 figure credit lines for years adding 100k can be relatively cheap.

I wouldn't presume to know, or like to discuss what people pay in TAX on profit. But would suggest most aren't employees, so draw your own conclusions.

As for where they put their money, its generally property development/business (mobiles was a big one)/commodities. The ones into commodoties, I'm never sure what they really make on their money. As they are generally less forth coming when they've taken a bath, and OTT when they've made a killing.

Edited by 5to1 on Monday 14th July 15:27

[Huliganov]

kryten22uk said:

Huliganov said:

Infact, most are on finance anyway.

Huliganov said:

I don't know, I'm only assuming that most are on finance

Huliganov said:

Infact, if they didn't get paid for two months the majority would be close to financial ruin.

Yawn, another finance thread by those with no financial knowledge, making incredibly brash and unfounded statements.

Ok genius, rub your crystal ball and tell us what the future holds then.

[Webber3]

andy355 said:

im curious. what investment have people made that has beaten car finance rates and has been worthwhile?

Maybe not possible with a simple investment but some businesses need large amounts of working capital to function and the owners would prefer to hang onto their cash.

I know a couple of people that need huge amounts of cash to keep their business running. Their profit margins on this money would easily offset the cost of car finance. In this case I suppose it would make sense to go down the finance route. Not that they did though!

andy355 said:

assuming you pay tax on your profits of 40% and unless there is an odd subsidy going on the car finance would be libor + so even before current libor/base spread widening would have been circa 6% so you would have to make 10% to break even

as i said, just curious... The appealing side of finance for me on a car would be still to have money in the bank rather than all in an "asset", purely for liquidity

Depending on how long you hang on to these cars, running them as company vehicles can also make good sense and avoids that initial 40% tax hit.

Edited by Webber3 on Monday 14th July 20:43

[Loz8]

The only people who will REALLY lose out are ones who haven't driven and enjoyed them enough, believing low mileage will save them and now have to sell...drive them and losing £1k a month (as many super cars do and as I believe spiders are doing at the moment) in depreciation isn't the end of the world

[Callughan]

Say the economy in a year was to improve and people started spending again.

Would that mean the car prices of 430's would stop falling and stabilize or start to increase in price due to increased demand?