Will Coronavirus hit used car prices? (Vol 2)

[time waster]

Court_S said:

Vroomer said:

flibbage0 said:

I'm sorry but car prices are dropping for anything with a big engine.

I've been tracking the price of the following:

-C63 AMG (N/A V8)
-E92 M3 V8
-B7 RS4
-XKR
-XFR

The price on WBAC/Motorway/Cazoo is ridiculously lower than the advertised price (Usually only slightly lower). For example advert on Autotrader will be up for £16k, WBAC will only give £9k.

These cars are not moving but the prices are hardly dropping, maybe £1k max after 2-3 months. For that reason I am waiting, something has got to give for cars with a large displacement.

I know people have seen prices go up but that's for stuff like a 2015+ Euro 6 compliant petrol/diesel or an EV/Hybrid.

Have you got actual prices matched to dates, or is this just a general impression?

The values being added don’t seem to reflect a drop in M3 prices. I still have a few searches from when I was serialising at the a new prices still look high to me.

Yes, just checking - my e92 M3 value has gone down by 25% on WBAC, compared to a few months ago.

[MDMA .]

Venisonpie said:

Fast Bug said:

I'm not sure why anyone would want to buy from BCA unless they can physically view the car beforehand. Their grading seems to be done by Stevie Wonder, and it's not
unusual that the cars are delivered with unlisted major faults.

As a group we don't buy from any of the auctions, there's a lot of st that gets punted through. I'm not sure that Joe Public realise just how bad they are to deal with.

Quite. An auction is a great insulator for a seller when moving on something that isn't retail standard.

Having dealt with auctions for some time ( a decent one) I'd only ever sell, not buy since it's effectively a private sale without a test drive.

Edited by Venisonpie on Monday 19th September 06:14

Any auction to be fair. One of my old cars is advertised on here at the moment as unrestored. They’ve failed to mention the previous accident damage and repairs though

https://www.pistonheads.com/buy/listing/13873622

[irish boy]

MDMA . said:

Any auction to be fair. One of my old cars is advertised on here at the moment as unrestored. They’ve failed to mention the previous accident damage and repairs though

https://www.pistonheads.com/buy/listing/13873622

That looks like a really nice example all the same? So clean and simple as a design.

[sixor8]

Was it written off? If so, it would be on the register and declared in the catalogue.

Any car could have had a minor shunt and be repaired (if not categorised by an insurance company) and no subsequent owner would be any the wiser unless informed by the seller.

Edited to remove duff link.

Edited by sixor8 on Monday 19th September 12:45

[oceanview]

yellowbentines said:

Some of the silliest asking prices I've seen are through private sellers, not traders. People have heard or been told that cars are selling for strong prices and think that someone is going to pay them retail prices for tatty unprepared cars with short MOTs, no warranty and no comeback.

This.

Always looking online at car sales, either for myself or other people and, the majority of private sales prices are way over, with a significant number at top retail!

Some locally have been on Autotrader since last year- the adverts must be costing more than if they had been sensible with pricing in the first place!

[flibbage0]

Vroomer said:

Have you got actual prices matched to dates, or is this just a general impression?

I do. Jaguar XFR advertised for £16k on Autotrader, maximum trade in value I can find is £9450 on Motorway.

XKR for sale £21000, trade in value is £14000.

Yes I understand that the trade in value is not the same as the market price but the difference is huge when it only used to be a small amount.

For example I was tracking an XKR with the speed pack, 105k miles and it was up for around £17k. Trade in value was £15-16k, this was around September-October 2021.

I have seen an SLK55 AMG for sale on Autotrader, based in Golders Green, lovely example. Earlier this year it was for sale around £18k, now it's £16k.

Anyone who thinks V8 sports cars aren't dropping value are quite frankly in denial.

[sixor8]

My reply to the post about the Golf had the wrong link. This is the car in the CCA catalogue. Any insurance category would be declared:

https://www.classiccarauctions.co.uk/cca033-lot-51...

[MDMA .]

sixor8 said:

My reply to the post about the Golf had the wrong link. This is the car in the CCA catalogue. Any insurance category would be declared:

https://www.classiccarauctions.co.uk/cca033-lot-51...

It was more the point that it isn’t original/unrestored condition. I put new bumpers, grille, lights on. Previous owner had bumped it in a few places, painted the roof, accident repair to the o/s door and rear quarter. It’s far from original.

Edit. You do know cars repaired by insurance companies aren’t declared as they aren’t listed? A HPI report won’t tell you if a car has ever been crashed, just written off.

Edited by MDMA . on Monday 19th September 13:10

[CRA1G]

MDMA . said:

Any auction to be fair. One of my old cars is advertised on here at the moment as unrestored. They’ve failed to mention the previous accident damage and repairs though

https://www.pistonheads.com/buy/listing/13873622

Did you declare the damage and repairs when you sold it to your buyer.?

[MDMA .]

CRA1G said:

Did you declare the damage and repairs when you sold it to your buyer.?

Yes. All the paperwork/invoices for the repairs went with the car. Can’t remember the exact date, but I’m sure I had some copies. It’s 7-8 years ago since I sold it. It’s only because I went to look at a MK1 Golf Sportline on Saturday that I started to look for MK2 GTI’s later that day and saw my old one pop up. A week later and I wouldn’t have seen it.

[sixor8]

MDMA . said:

sixor8 said:

My reply to the post about the Golf had the wrong link. This is the car in the CCA catalogue. Any insurance category would be declared:

https://www.classiccarauctions.co.uk/cca033-lot-51...

It was more the point that it isn’t original/unrestored condition. I put new bumpers, grille, lights on. Previous owner had bumped it in a few places, painted the roof, accident repair to the o/s door and rear quarter. It’s far from original.

Edit. You do know cars repaired by insurance companies aren’t declared as they aren’t listed? A HPI report won’t tell you if a car has ever been crashed, just written off.

Edited by MDMA . on Monday 19th September 13:10

Yes, that was my whole point. You didn't answer the question as to whether it had been written off earlier but have now. Plenty of cars have repairs unknown to subsequent buyers. Anybody checking the history should see the receipts, IF they've been retained.

Edited by sixor8 on Monday 19th September 14:24

[MDMA .]

sixor8 said:

Yes, that was my whole point. You didn't answer the question as to whether it had been written off earlier but have now. Plenty of cars have repairs unknown to subsequent buyers. Anybody checking the history should see the receipts, IF they've been retained.

Edited by sixor8 on Monday 19th September 14:24

Not written off. Just the auction listing as original and unrestored is misleading. It isn’t original (as it rolled out the factory). The previous owner to myself did lots of restoration on it. It’s had paint to most panels, the bumpers are pattern parts (good ones), along with the grille.

[surveyor]

I recently bought a car from a trader for £13k which was advertised at £13,500. I was surprised that I achieved this. Then I found out he had the car since April, first advertised at £14,600. I suspect he had enough and wanted shot.

I'm thinking the market is on the turn..

[e-honda]

sixor8 said:

Yes, that was my whole point. You didn't answer the question as to whether it had been written off. Plenty of cars have repairs unknown to subsequent buyers.

Yeah but to claim it hasn't had any restoration just been well looked after is stretching the truth a bit, at best you don't know the history well enough to make such a claim at worse you know it to be false.

[anonymous-user]

surveyor said:

I recently bought a car from a trader for £13k which was advertised at £13,500. I was surprised that I achieved this. Then I found out he had the car since April, first advertised at £14,600. I suspect he had enough and wanted shot.

I'm thinking the market is on the turn..

Doesn't the market tend to slow after summer, maybe the best time to buy is January?

[Niguy]

surveyor said:

I recently bought a car from a trader for £13k which was advertised at £13,500. I was surprised that I achieved this. Then I found out he had the car since April, first advertised at £14,600. I suspect he had enough and wanted shot.

I'm thinking the market is on the turn..

Based on one transaction? Surely as a surveyor you should know that one swallow does not a summer make.

[Bemmer]

Niguy said:

surveyor said:

I recently bought a car from a trader for £13k which was advertised at £13,500. I was surprised that I achieved this. Then I found out he had the car since April, first advertised at £14,600. I suspect he had enough and wanted shot.

I'm thinking the market is on the turn..

Based on one transaction? Surely as a surveyor you should know that one swallow does not a summer make.

Or he's bought a lemon that the dealer wanted shut of......

[chickenbarns]

ChocolateFrog said:

nickfrog said:

chickenbarns said:

2015 Alfa romeo 4c tbi has seen its asking price jump to £43000 and over from £38000 in 2018 with no drop on listings but posters here are telling us there will be a big drop

-CB

They have made literally millions of that car so it is indeed a fantastic barometer of the used car market in general.

Agreed.

All future predictions for the UK market should be based purely on the asking prices of Alfa Romeo 4C's, its foolproof.

Insert unnecessary signature here.

We bought a golf 1.4 tsi 68000 miles in 2018 for £3200 and the same car is now going for nearly £5000. I remember similiar price in november. Better?

-CB

[Niponeoff]

e-honda said:

sixor8 said:

Yes, that was my whole point. You didn't answer the question as to whether it had been written off. Plenty of cars have repairs unknown to subsequent buyers.

Yeah but to claim it hasn't had any restoration just been well looked after is stretching the truth a bit, at best you don't know the history well enough to make such a claim at worse you know it to be false.

Any trader worth his salt will know if a car has had paint. Unless they are really bad at their job.

[anonymous-user]

Niponeoff said:

Any trader worth his salt will know if a car has had paint. Unless they are really bad at their job.

Unless it's a DeLorean, they have all had paint.