Are used cars selling?
Discussion
I Know this is a very broad statement but on the whole ive found the used car (especially the cars say around 20+ years) extremely stale. Are people just asking too much money for old cars? Ive been trying to sell my corrado for a very lengthy amount of time and having priced it inline with the others I had no bites. Having reduced it considerably still no real buyers. Looking at other cars I just don't see them actually selling. Constantly on autotrader, being relisted on ebay etc etc.
i think there are a vast amount of optimistic pricing going on in the "future classic" market.
I thought it was maybe just here in NI but when i look at the classic car websites for cars here the cars seem to sit forever and very few actually sell.
The likes of this bemuses me. Nice enough car, but its been to the moon and back yet he still thinks its a £5995 car. Its easily been for sale for six months+ maybe a year
https://www.carandclassic.co.uk/car/C962484
I thought it was maybe just here in NI but when i look at the classic car websites for cars here the cars seem to sit forever and very few actually sell.
The likes of this bemuses me. Nice enough car, but its been to the moon and back yet he still thinks its a £5995 car. Its easily been for sale for six months+ maybe a year
https://www.carandclassic.co.uk/car/C962484
Edited by Deep Thought on Saturday 24th November 19:35
Deep Thought said:
i think there are a vast amount of optimistic pricing going on in the "future classic" market.
I thought it was maybe just here in NI but when i look at the classic car websites for cars here the cars seem to sit forever and very few actually sell.
The likes of this bemuses me. Nice enough car, but its been to the moon and back yet he still thinks its a £5995 car. Its easily been for sale for six months+ maybe a year
https://www.carandclassic.co.uk/car/C962484
Cars like that are practically valueless. £6k when that would be the deposit and the first year’s payments on a Golf R that would leave that for dust.. Rinse and repeat..I thought it was maybe just here in NI but when i look at the classic car websites for cars here the cars seem to sit forever and very few actually sell.
The likes of this bemuses me. Nice enough car, but its been to the moon and back yet he still thinks its a £5995 car. Its easily been for sale for six months+ maybe a year
https://www.carandclassic.co.uk/car/C962484
Edited by Deep Thought on Saturday 24th November 19:35
I too agree that cars are sitting around, I have been looking for a decent e60 m5 for 6 months or even a low mileage e39 should one come up but it is the same cars over and over again. They seem to not sell and then disappear for a month only to be readvertised at a higher price! It seems anything remotely sporty is "an appreciating classic" irrelevant of mileage or conndition. Im wondering if I may aswell wait until after brexit now to see if it makes any difference to prices!
Honestherbert said:
I too agree that cars are sitting around, I have been looking for a decent e60 m5 for 6 months or even a low mileage e39 should one come up but it is the same cars over and over again. They seem to not sell and then disappear for a month only to be readvertised at a higher price! It seems anything remotely sporty is "an appreciating classic" irrelevant of mileage or conndition. Im wondering if I may aswell wait until after brexit now to see if it makes any difference to prices!
+1And "very rare" does not mean worth a fortune. I've seen people list stuff like low mileage 1.4 Meganes as "very rare" as they've checked and theres only 6 left on the road (with good reason) therefore it must be worth ££££'s.
Another is some really s
tty limited edition run eurobox that they think is worth ££££'s because there were "only 10,000 ever made" and that collectors are going to be falling over themselves to buy it. 
Honestherbert said:
To add to the post above however I would rather pay 6k for a rare manual 540 than I would use it as a deposit on a golf R irrelevant of mileage ??
Agreed, but not at that price...Thought this looked better value and its one of the rare future classics that the seller has had to good sense to drop in price over recent months. He had it on for £4,995 around six months ago, but now has it on for a more realist £3,995. I dont think hes far away on price.
https://www.carandclassic.co.uk/car/C1052692
Michaelbailey said:
Are people just asking too much money for old cars?
I think this, especially with dealers. At least with a main dealer you usually get a year warranty but for independent dealers to ask for similar money but only offer three months warranty etc isn't great. In Scotland used cars are typically more expensive also, usually by a few grand. Very annoying if the car you want comes up there.The market for these kind of cars is far divorced from the mainstream new-10 years old market.
Nobody needs to buy a 20 year old BMW but there may be people out there who would like to if the car represents good value. The number of cars available versus the number of people who want one will set the price.
You could argue that many of the sellers need to sell the car either, but would want to sell if they could get a price that interests them. Of course there will be some that need to sell too, either because they need the money or the space, and that's when teh bargains will appear.
The sellers asking dream money are apparently not that motivated to sell.
Nobody needs to buy a 20 year old BMW but there may be people out there who would like to if the car represents good value. The number of cars available versus the number of people who want one will set the price.
You could argue that many of the sellers need to sell the car either, but would want to sell if they could get a price that interests them. Of course there will be some that need to sell too, either because they need the money or the space, and that's when teh bargains will appear.
The sellers asking dream money are apparently not that motivated to sell.
Deep Thought said:
i think there are a vast amount of optimistic pricing going on in the "future classic" market.
I thought it was maybe just here in NI but when i look at the classic car websites for cars here the cars seem to sit forever and very few actually sell.
The likes of this bemuses me. Nice enough car, but its been to the moon and back yet he still thinks its a £5995 car. Its easily been for sale for six months+ maybe a year
https://www.carandclassic.co.uk/car/C962484
I saw this and thought I hope this isn't my car in the link! (My car is on the website at £5995)I thought it was maybe just here in NI but when i look at the classic car websites for cars here the cars seem to sit forever and very few actually sell.
The likes of this bemuses me. Nice enough car, but its been to the moon and back yet he still thinks its a £5995 car. Its easily been for sale for six months+ maybe a year
https://www.carandclassic.co.uk/car/C962484
Edited by Deep Thought on Saturday 24th November 19:35
I think people are like trying the old "appreciating classics" or "future classic" and im not buying it. But even myself selling my car (don't want to break any rules here by advertising) was up initially for 6.5k and im now down to the point where I will accept 3 but they buyers just aren't there, genuine ones that is.
I wish everyone bought cars like I do
Edited by Michaelbailey on Thursday 29th November 14:20
i think certain private sale niche markets are booming...people pay a premium for rare and/or interesting retro JDM stuff for example
Sold my 1996 mitsubishi mirage 2 years ago for £2k with 145k on the clock, it was on sale for 2 weeks and the first guy to see it bought it.
I've just myself bought something JDM and interesting- year 2000 car with 52k on the clock, paid a decent amount for it because i like it and there aren't many around. The guy didn't even advertise it, i put a wanted post up and was contacted directly.
If its interesting enough there will always be a market.
Sold my 1996 mitsubishi mirage 2 years ago for £2k with 145k on the clock, it was on sale for 2 weeks and the first guy to see it bought it.
I've just myself bought something JDM and interesting- year 2000 car with 52k on the clock, paid a decent amount for it because i like it and there aren't many around. The guy didn't even advertise it, i put a wanted post up and was contacted directly.
If its interesting enough there will always be a market.
Buyers can be a problem at this level too. We've got an e39 we took in part ex for sale. New MOT, genuinely nice old bus, anything that old we usually scrap but this thing is far too good to bin. Sub £1500. It's a really genuine nice old smoker.
No brainer in my book but the people we get in on it that just want to tell you about the one they used to own and crab it for needing two rims refurbed on a two decade old banger. I can understand the motive behind making similar (more exciting models) mint and charging silly money to avoid having to encounter the riff raff.
No brainer in my book but the people we get in on it that just want to tell you about the one they used to own and crab it for needing two rims refurbed on a two decade old banger. I can understand the motive behind making similar (more exciting models) mint and charging silly money to avoid having to encounter the riff raff.
Michaelbailey said:
I Know this is a very broad statement but on the whole ive found the used car (especially the cars say around 20+ years) extremely stale. Are people just asking too much money for old cars? Ive been trying to sell my corrado for a very lengthy amount of time and having priced it inline with the others I had no bites. Having reduced it considerably still no real buyers. Looking at other cars I just don't see them actually selling. Constantly on autotrader, being relisted on ebay etc etc.
The "classic" market is going through a price adjustment period at the minute, downwards.Modern classics....not much market for most of them in reality, I can sell an e type, aston, lotus, even mgb much faster, easier and for more profit than Corrados, XR3s and the ilk. There is plenty of chat about them on the net but little action when it comes to selling, unless they are uber low mileage original cars of show quality.
Michaelbailey said:
I saw this and thought I hope this isn't my car in the link! (My car is on the website at £5995)
I think people are like trying the old "appreciating classics" or "future classic" and im not buying it. But even myself selling my car (don't want to break any rules here by advertising) was up initially for 6.5k and im now down to the point where I will accept 3 but they buyers just aren't there, genuine ones that is.
I wish everyone bought cars like I do
Is it the Storm spec car?I think people are like trying the old "appreciating classics" or "future classic" and im not buying it. But even myself selling my car (don't want to break any rules here by advertising) was up initially for 6.5k and im now down to the point where I will accept 3 but they buyers just aren't there, genuine ones that is.
I wish everyone bought cars like I do
Edited by Michaelbailey on Thursday 29th November 14:20
Don't take this the wrong way but it's a bit rambling.
Far better in bullet points with the mileage, spec, leather heater seats, air con etc,, mentioned first and also the 12 month MOT
IT's hard to see the points buyers are looking for in with all the other information.
Looks a nice car.
GreatGranny said:
Is it the Storm spec car?
Don't take this the wrong way but it's a bit rambling.
Far better in bullet points with the mileage, spec, leather heater seats, air con etc,, mentioned first and also the 12 month MOT
IT's hard to see the points buyers are looking for in with all the other information.
Looks a nice car.
It is and constructive feedback is more than welcome.Don't take this the wrong way but it's a bit rambling.
Far better in bullet points with the mileage, spec, leather heater seats, air con etc,, mentioned first and also the 12 month MOT
IT's hard to see the points buyers are looking for in with all the other information.
Looks a nice car.
I need to adjust it anyway to reflect the fact im willing to take basically no money for it so I will probably address the rambling. and it is a spectacular car, makes it all the harder to part with it for no money
Gassing Station | Car Buying | Top of Page | What's New | My Stuff