Will Coronavirus hit used car prices? (Vol 2)
Discussion
Deep Thought said:
Its not a matter of the trade rather they were crushed, its a matter of them being worth more as scrap.
...and at the other end of the market nearly-new car (1-3 yrs) values continue upwards because the OEMs can't supply enough new.As a country, are we really THAT consumerist that we'd rather pay over-the-odds to change our car now, instead of waiting 6 months or a year and keeping the old snotter* running?
(I'm conscious that there are probably 1 or 2 intervening steps in the chain between £25k+ BMW (for example) and £500 Vauxhall...but that logic probably applies in the middle...I'll wager 5y.o. car values are also rising, for example...)
* I'm assuming here that the old snotter doesn't need a big job doing and has plenty of MOT, as the examples mentioned above seemed to be...
Auto810graphy said:
New cars are not selling well as there are hardly any to sell. Everything is pretty much factory order and lead times are being stretched. PCP prices seem higher as the manufacturers don’t need to incentivise buyers with deposit contributions and discounts.
I heard a rumour that a Vauxhall dealer sold a new car for list price last week, crazy if true!
Entirely believable in the current market. The hugely reduced supply of quality used fleet stock in the auctions e.g. Motability and dearth of quality used 1 owner Vauxhalls under 3 years old with FVSH has resulted in Insignias Astras and Corsas selling for around 25% more than they were in January this year. The days of buying these at £1500 to £2000 under Cap Clean are long gone they are now £1500 over and rising ££ due to the supply issues.I heard a rumour that a Vauxhall dealer sold a new car for list price last week, crazy if true!
havoc said:
...and at the other end of the market nearly-new car (1-3 yrs) values continue upwards because the OEMs can't supply enough new.
As a country, are we really THAT consumerist that we'd rather pay over-the-odds to change our car now, instead of waiting 6 months or a year and keeping the old snotter* running?
(I'm conscious that there are probably 1 or 2 intervening steps in the chain between £25k+ BMW (for example) and £500 Vauxhall...but that logic probably applies in the middle...I'll wager 5y.o. car values are also rising, for example...)
* I'm assuming here that the old snotter doesn't need a big job doing and has plenty of MOT, as the examples mentioned above seemed to be...
Well generally speaking people dont go from snotters to brand new cars or even nearly new (usually), as you've concurred above.As a country, are we really THAT consumerist that we'd rather pay over-the-odds to change our car now, instead of waiting 6 months or a year and keeping the old snotter* running?
(I'm conscious that there are probably 1 or 2 intervening steps in the chain between £25k+ BMW (for example) and £500 Vauxhall...but that logic probably applies in the middle...I'll wager 5y.o. car values are also rising, for example...)
* I'm assuming here that the old snotter doesn't need a big job doing and has plenty of MOT, as the examples mentioned above seemed to be...
At the lowest end of the market some old Corsa going through an auction with maybe no or little MOT and needing a couple of hundred spent on it to make it an acceptable buy is going to have a specific value to a consumer and that may be lower than its scrap value - just like, for years people have been buying gold as scrap as its worth more as scrap metal than it is as (often worn out, old) jewellry.
Conversely, at the new / newer end of the market, values are up generally. My car for example is worth maybe £5K more than it "should" be. I would imagine many are in a similar boat and are tempted to change their car, even if the new(er) car is more expensive also. And likewise, maybe the net cost to change is the same as it would have been? £5K more for your car, £5K more for the car you're buying, why wait a year when both prices will drop proportionally anyway?
The spinner of plates said:
I think that’s pretty much it.
Can you image the grief you’d get being a bottom end dealer selling £1,000 cars with £200 profit per unit?
Having the new owner turn up 3 months later with a wear and tear issue ‘because they know their rights’??
f
k that. I can see why the trade would rather they were crushed. Which is a shame.
Having sold a couple of sub £1K cars on Facebook and eBay, I would rather just scrap them than go through that again. You hope you are going to be contacted by the sort of people who frequent the "Joy of running an old shed" thread, but unfortunately that is rarely the case.Can you image the grief you’d get being a bottom end dealer selling £1,000 cars with £200 profit per unit?
Having the new owner turn up 3 months later with a wear and tear issue ‘because they know their rights’??
f
k that. I can see why the trade would rather they were crushed. Which is a shame. What you get are complete timewasters or people who want it for half price because "I am a key worker" or have some sob story about needing it today to see their four children.
The sort of people who are expecting a brand new car with zero faults for £500 with the option of bringing it back for a refund if they change their mind. The sort of people who will send you a text six months later saying "My mechanic says the car needs £500 of work, what are you going to do about it?"
How the traders who deal with these cars put up with all of this for a few hundred pounds profit per car I will never know.
A scrap car is worth around £300 at the moment, I would much rather scrap it and get on with my life than having to deal with these people.
Joey Deacon said:
The spinner of plates said:
I think that’s pretty much it.
Can you image the grief you’d get being a bottom end dealer selling £1,000 cars with £200 profit per unit?
Having the new owner turn up 3 months later with a wear and tear issue ‘because they know their rights’??
fk that. I can see why the trade would rather they were crushed. Which is a shame.
Having sold a couple of sub £1K cars on Facebook and eBay, I would rather just scrap them than go through that again. You hope you are going to be contacted by the sort of people who frequent the "Joy of running an old shed" thread, but unfortunately that is rarely the case.Can you image the grief you’d get being a bottom end dealer selling £1,000 cars with £200 profit per unit?
Having the new owner turn up 3 months later with a wear and tear issue ‘because they know their rights’??
f
k that. I can see why the trade would rather they were crushed. Which is a shame. What you get are complete timewasters or people who want it for half price because "I am a key worker" or have some sob story about needing it today to see their four children.
The sort of people who are expecting a brand new car with zero faults for £500 with the option of bringing it back for a refund if they change their mind. The sort of people who will send you a text six months later saying "My mechanic says the car needs £500 of work, what are you going to do about it?"
How the traders who deal with these cars put up with all of this for a few hundred pounds profit per car I will never know.
A scrap car is worth around £300 at the moment, I would much rather scrap it and get on with my life than having to deal with these people.
They also tend to be very hard nosed and merciless about the whole thing. Will do the minimum to make the car look presentable and drive ok to maximise their very thin profit margins, but they will rarely offer any sort of backup when something goes wrong.
And of course the problem with selling a £500 car to someone is, they're generally driving it because thats all the money they have available at that time, so any problem at all they're going to want to make it the sellers problem.
Deep Thought said:
Joey Deacon said:
The spinner of plates said:
I think that’s pretty much it.
Can you image the grief you’d get being a bottom end dealer selling £1,000 cars with £200 profit per unit?
Having the new owner turn up 3 months later with a wear and tear issue ‘because they know their rights’??
fk that. I can see why the trade would rather they were crushed. Which is a shame.
Having sold a couple of sub £1K cars on Facebook and eBay, I would rather just scrap them than go through that again. You hope you are going to be contacted by the sort of people who frequent the "Joy of running an old shed" thread, but unfortunately that is rarely the case.Can you image the grief you’d get being a bottom end dealer selling £1,000 cars with £200 profit per unit?
Having the new owner turn up 3 months later with a wear and tear issue ‘because they know their rights’??
f
k that. I can see why the trade would rather they were crushed. Which is a shame. What you get are complete timewasters or people who want it for half price because "I am a key worker" or have some sob story about needing it today to see their four children.
The sort of people who are expecting a brand new car with zero faults for £500 with the option of bringing it back for a refund if they change their mind. The sort of people who will send you a text six months later saying "My mechanic says the car needs £500 of work, what are you going to do about it?"
How the traders who deal with these cars put up with all of this for a few hundred pounds profit per car I will never know.
A scrap car is worth around £300 at the moment, I would much rather scrap it and get on with my life than having to deal with these people.
They also tend to be very hard nosed and merciless about the whole thing. Will do the minimum to make the car look presentable and drive ok to maximise their very thin profit margins, but they will rarely offer any sort of backup when something goes wrong.
And of course the problem with selling a £500 car to someone is, they're generally driving it because thats all the money they have available at that time, so any problem at all they're going to want to make it the sellers problem.
Just sold my 2018 Ford Ranger Wildtrack, 26k miles. Bizarrely Greenhous Vauxhall offered £500 more than Ford. No P/X, straight purchase.
Had no real intension of selling until i punched my details into WBAC and was shocked to see how much it had risen in value. So I tried my luck with the dealers.
Owned for 2 years with a nice £3k profit at the end. Can't grumble.
Had no real intension of selling until i punched my details into WBAC and was shocked to see how much it had risen in value. So I tried my luck with the dealers.
Owned for 2 years with a nice £3k profit at the end. Can't grumble.
It's getting absolutely crazy now, as a serial shedder I don't know where to go next. As we all know, the cheapest cars are all being weighed in now as the £300 plus anything for the cats is much less hassle.
The OK cars with an cleanish MOT which used to be £1K are now £2995. The 10 year old cars with a decent bit of life in them which used to be £2995 are now £4995.
Anybody who bought a nearly new car in the last couple of years has effectively had free motoring as they can sell it for at least what they paid for it.
Is the solution to buy a brand new Dacia Sandero Essential TCE 90 for £9995? The way things are going, I suspect the list price of these is going to go up soon and after three years you would get most of your money back.
Is it actually going to be cheaper to run a Dacia Sandero for three years with full warranty and no MOT to worry about than a £3K shed?
The OK cars with an cleanish MOT which used to be £1K are now £2995. The 10 year old cars with a decent bit of life in them which used to be £2995 are now £4995.
Anybody who bought a nearly new car in the last couple of years has effectively had free motoring as they can sell it for at least what they paid for it.
Is the solution to buy a brand new Dacia Sandero Essential TCE 90 for £9995? The way things are going, I suspect the list price of these is going to go up soon and after three years you would get most of your money back.
Is it actually going to be cheaper to run a Dacia Sandero for three years with full warranty and no MOT to worry about than a £3K shed?
Joey Deacon said:
The OK cars with an cleanish MOT which used to be £1K are now £2995. The 10 year old cars with a decent bit of life in them which used to be £2995 are now £4995.
Crazy, isn't it. We bought a mint Clio RS200 on 36k miles for £6,600 a few weeks ago and I accepted that we probably paid a bit too much but now I am not even sure...Joey Deacon said:
It's getting absolutely crazy now, as a serial shedder I don't know where to go next. As we all know, the cheapest cars are all being weighed in now as the £300 plus anything for the cats is much less hassle.
The OK cars with an cleanish MOT which used to be £1K are now £2995. The 10 year old cars with a decent bit of life in them which used to be £2995 are now £4995.
Anybody who bought a nearly new car in the last couple of years has effectively had free motoring as they can sell it for at least what they paid for it.
Is the solution to buy a brand new Dacia Sandero Essential TCE 90 for £9995? The way things are going, I suspect the list price of these is going to go up soon and after three years you would get most of your money back.
Is it actually going to be cheaper to run a Dacia Sandero for three years with full warranty and no MOT to worry about than a £3K shed?
ULEZ extension is no help?The OK cars with an cleanish MOT which used to be £1K are now £2995. The 10 year old cars with a decent bit of life in them which used to be £2995 are now £4995.
Anybody who bought a nearly new car in the last couple of years has effectively had free motoring as they can sell it for at least what they paid for it.
Is the solution to buy a brand new Dacia Sandero Essential TCE 90 for £9995? The way things are going, I suspect the list price of these is going to go up soon and after three years you would get most of your money back.
Is it actually going to be cheaper to run a Dacia Sandero for three years with full warranty and no MOT to worry about than a £3K shed?
While I do see the appeal of the Dacia, and I might bought one for the OH in another life, I would struggle to handle "so much" cash for a metal box with plastic parts "innit".
I drove some, and they are really built down to cost. It does feel cheap. A "good" shed (Focus mk1, Mondeo mk3 or 4 Volvos....) feels old, but not cheap. Different feeling, for me....
cedrichn said:
ULEZ extension is no help?
While I do see the appeal of the Dacia, and I might bought one for the OH in another life, I would struggle to handle "so much" cash for a metal box with plastic parts "innit".
I drove some, and they are really built down to cost. It does feel cheap. A "good" shed (Focus mk1, Mondeo mk3 or 4 Volvos....) feels old, but not cheap. Different feeling, for me....
I have never driven one, but I have sat in the old one and the Fiat Tipo and I know exactly what you mean. I also recall there was a thread on here where someone bought one and ended up having the whole car Dynamatted but still eventually got rid of it as he couldn't get on with the NVH.While I do see the appeal of the Dacia, and I might bought one for the OH in another life, I would struggle to handle "so much" cash for a metal box with plastic parts "innit".
I drove some, and they are really built down to cost. It does feel cheap. A "good" shed (Focus mk1, Mondeo mk3 or 4 Volvos....) feels old, but not cheap. Different feeling, for me....
All the reviews state the new model is a massive step up, but I know how those niggling things that you think will be OK end up making you hate the car.
Fast Bug said:
Whilst the plastics may have a softer feel in a Focus than in a Dacia, that won't help when your Focus has broken down and spat a bill at you. Meanwhile the Dacia will be under warranty for 3-5 years.
We've pushed the boat out with a Kia Xceed 1.5t DCT. Amazing spec and 7 year warranty. £20k after 22% discount off list. nickfrog said:
Fast Bug said:
Whilst the plastics may have a softer feel in a Focus than in a Dacia, that won't help when your Focus has broken down and spat a bill at you. Meanwhile the Dacia will be under warranty for 3-5 years.
We've pushed the boat out with a Kia Xceed 1.5t DCT. Amazing spec and 7 year warranty. £20k after 22% discount off list. Is this a move away from the one you normally lease?
Just sold my Z4 owned it for 3 months and made effectively 30% on it profit wise.
I paid £3,150 and sold it for £4,250 asking price after 2 days to the first person that viewed it...
Earlier today I saw a 14 plate Boxter S PDK up for £46k at the local garage. The world has gone mad.
I'll sit back 12 months and see what happens I wanted a more expensive weekend toy but I am too scared to buy anything pricey currently as I can see me getting burnt.
I paid £3,150 and sold it for £4,250 asking price after 2 days to the first person that viewed it...
Earlier today I saw a 14 plate Boxter S PDK up for £46k at the local garage. The world has gone mad.
I'll sit back 12 months and see what happens I wanted a more expensive weekend toy but I am too scared to buy anything pricey currently as I can see me getting burnt.
Edited by greggy50 on Monday 28th June 19:16
greggy50 said:
Just sold my Z4 owned it for 3 months and made effectively 30% on it profit wise.
I paid £3,150 and sold it for £4,250 asking price after 2 days to the first person that viewed it...
Earlier today I saw a 14 plate Boxter S PDK up for £46k at the local garage. The world has gone mad.
I'll sit back 12 months and see what happens I wanted a more expensive weekend toy but I am too scared to buy anything pricey currently as I can see me getting burnt.
Exactly why i bought a Z4 Coupe last year. Was concerned about the volatility in prices further up the price point. Gave £7,500 for mine, seems to be worth around £11,000 now (albeit with +£1,100 spent on alloys).I paid £3,150 and sold it for £4,250 asking price after 2 days to the first person that viewed it...
Earlier today I saw a 14 plate Boxter S PDK up for £46k at the local garage. The world has gone mad.
I'll sit back 12 months and see what happens I wanted a more expensive weekend toy but I am too scared to buy anything pricey currently as I can see me getting burnt.
Edited by greggy50 on Monday 28th June 19:16
Same here greggy - I'm sitting back and if the car comes to my biting point I'll pull the trigger, butt right now the prices are just too high for me to justify as its a a bit of a treat this next car.
As for the Z4's, enjoyed mine when I had one - make sure you play around with the 'sound foam' - used to take mine out and it made a lovely induction noise, got annoying after a while but it was a 1min job swapping it in and out
As for the Z4's, enjoyed mine when I had one - make sure you play around with the 'sound foam' - used to take mine out and it made a lovely induction noise, got annoying after a while but it was a 1min job swapping it in and out
Deep Thought said:
Sounds like a cracking deal
Is this a move away from the one you normally lease?
Yes the 3008 was due back this month and the silly lease deals have dried up for the past 18 months so we'll probably keep it until we go electric...Is this a move away from the one you normally lease?
I can't believe how good this KIA is.
I feel so stupid for not buying something daft 18-24 months ago when I could.
"But no don't buy a fancy car flibbage, buy a house first, house prices will crash......"
I could have bought a Mustang or XKR or anything around the £25-30k and had fun and not lost anything. Hindsight and all that
"But no don't buy a fancy car flibbage, buy a house first, house prices will crash......"
I could have bought a Mustang or XKR or anything around the £25-30k and had fun and not lost anything. Hindsight and all that
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