Abarth 124 Interior

[Rapid rental]

Well turns out I might be wrong in my prediction on values. Just had a lomg conversation with my local dealer and he advised that they are paying over book at the moment for the cars from the auction sales, as stock is looking a bit thin and they are selling well. In particular the manual cars, but all generally.

[dxg]

Rapid rental said:

Well turns out I might be wrong in my prediction on values. Just had a lomg conversation with my local dealer and he advised that they are paying over book at the moment for the cars from the auction sales, as stock is looking a bit thin and they are selling well. In particular the manual cars, but all generally.

Well, with the 124 withdrawn from the UK market and the ridiculous prices of new MX5s these days (£33k for the top end!!), I can see why second hand cars might be holding onto their value...

[Rapid rental]

dxg said:

Well, with the 124 withdrawn from the UK market and the ridiculous prices of new MX5s these days (£33k for the top end!!), I can see why second hand cars might be holding onto their value...

Odd isnt it, usually after a major financial upset like a recession, let alone Covid, all the toys plummet in value, but this time the dealers are very busy. I must be missing a trick?

[ryebread]

Rapid rental said:

Well turns out I might be wrong in my prediction on values. Just had a lomg conversation with my local dealer and he advised that they are paying over book at the moment for the cars from the auction sales, as stock is looking a bit thin and they are selling well. In particular the manual cars, but all generally.

I think that just might be because of difficulties in getting stock through from the auctions. There's at least 20 manuals sitting in Manheim's storage at the moment and almost as many autos more. Plus no doubt many more coming on the way as they pick up more expired leases that were so popular this time 2 years ago.

The only issue will be getting through as much stock now as they can because it's summer.

I wouldn't be surprised if you just wait until September to see prices drop >10% across the board.

[anonymous-user]

Rapid rental said:

dxg said:

Well, with the 124 withdrawn from the UK market and the ridiculous prices of new MX5s these days (£33k for the top end!!), I can see why second hand cars might be holding onto their value...

Odd isnt it, usually after a major financial upset like a recession, let alone Covid, all the toys plummet in value, but this time the dealers are very busy. I must be missing a trick?

Maybe the affordability and relative rarity of the model is a selling point, where people downgrade their attention from more expensive toys and this is what they look at instead. They're a relatively cheap toy for someone who's into flash cars but doesn't want to look like they're 'slumming it' in a normal car.

Edited by anonymous-user on Thursday 2nd July 17:19

[chrispmartha]

ryebread said:

Rapid rental said:

Well turns out I might be wrong in my prediction on values. Just had a lomg conversation with my local dealer and he advised that they are paying over book at the moment for the cars from the auction sales, as stock is looking a bit thin and they are selling well. In particular the manual cars, but all generally.

I think that just might be because of difficulties in getting stock through from the auctions. There's at least 20 manuals sitting in Manheim's storage at the moment and almost as many autos more. Plus no doubt many more coming on the way as they pick up more expired leases that were so popular this time 2 years ago.

The only issue will be getting through as much stock now as they can because it's summer.

I wouldn't be surprised if you just wait until September to see prices drop >10% across the board.

Mine’s still parked up doing nothing waiting for Manheim/Leasys to give me a date to pick it up it was due back in April, bit annoying as its costing me to insure a car I’m not using.

[Luke.]

chrispmartha said:

Mine’s still parked up doing nothing waiting for Manheim/Leasys to give me a date to pick it up it was due back in April, bit annoying as its costing me to insure a car I’m not using.

You don't need to insure it. Leasys will have that covered.

[PenelopaPitstop]

Rapid rental said:

Odd isnt it, usually after a major financial upset like a recession, let alone Covid, all the toys plummet in value, but this time the dealers are very busy. I must be missing a trick?

I thought luxo-barges will tank too but they didn't. They seem to hold value better than before. It might be stocking issue. I also watch SLK55s on Autotrader and they almost sold out as soon as lockdown ended.

I think 124 prices will go down a bit after the summer. There's def. a few ex-lease cars on the market, suddenly plenty of black cars and it was free colour, so people chose it on lease.

I put my 2019 plate auto through Webuyanycar to see what's the trade value and was quoted £17500.

[CostaBrava1972]

Just been out on a long run in mine again today and it was brilliant. Just brilliant.

Two lovely Italian classics left in the garage and a Land Rover laid-up to avoid swingeing road tax all leave me wondering why bother with anything else......?

Shopping? Well me and her and a three-week Tesco raid can all fit in it (just) so there's no criteria left unmet there either.

Blooming brilliant.

And to think I sat in a white one when they first came out - and didn't like it..... stupid boy! ('Over-decorated', I thought).

Who cares about current prices! You've got to settle on one choice of car or another, sometime.......

Or else as 'Bluebottle' said in 'The Goon Show', when they found him in a cellar, and asked why:
"Well, everybody gotta be somewhere..."

As an overall enthusiast's package, can't think of many better automotive 'somewheres-to-be' than in a 124 - an Abarth or otherwise. It's a real 'Road To Damascus' job.

Edited by CostaBrava1972 on Thursday 9th July 10:25

Edited by CostaBrava1972 on Thursday 9th July 10:26

Edited by CostaBrava1972 on Thursday 9th July 10:27

[PenelopaPitstop]

Haha, I agree. Car is good for daily and fun driving. I leased it, because I didn't think I will like it enough to keep it, but now changed my mind and may buy it from Leasys at the end.

I'm only considering replacing second car with new one, to have 4 seats for vet runs with my cats. I'm looking into Abarth 595, it should be nice companion to Spider. In worst case scenario, I could rent something with 4 seats when needed.

[chrispmartha]

Luke. said:

chrispmartha said:

Mine’s still parked up doing nothing waiting for Manheim/Leasys to give me a date to pick it up it was due back in April, bit annoying as its costing me to insure a car I’m not using.

You don't need to insure it. Leasys will have that covered.

Heres a dilemma - Ive noticed someone has hit the bumper at the back and caused a bit of damage - who's liable for the repair? my lease ran out at the end of March.

[CostaBrava1972]

Suggest you go on a leasing thread and ask there - it's not 124 specific.

[chrispmartha]

CostaBrava1972 said:

Suggest you go on a leasing thread and ask there - it's not 124 specific.

Good point

[Luke.]

chrispmartha said:

Heres a dilemma - Ive noticed someone has hit the bumper at the back and caused a bit of damage - who's liable for the repair? my lease ran out at the end of March.

Not you, I don't think. The car's not yours. Think the leasing company's insurance should cover it.

[Rapid rental]

Luke. said:

Not you, I don't think. The car's not yours. Think the leasing company's insurance should cover it.

I think you will find that its down to you until its actually collected.

[Luke.]

Rapid rental said:

I think you will find that its down to you until its actually collected.

Why would it be down to you to insure a car you're no longer responsible for? They can't pick it up, it's their problem. Nothing to do with Chris.

[PenelopaPitstop]

Depends on a contract terms. Some have clause that leasee is responsible for a car until it's collected.

[chrispmartha]

My insurance actually didn't run out until the end of this month anyway so I just left it running - I think I'll just ring Leasys but sure wether to mention the damage or not.

[PenelopaPitstop]

Read the contract. Someone will have to pay for the damage. It won't just disappear. Did you take detailed pictures at the end date of the lease and sent them to Leasys? It would be difficult to prove when the damage occured, without pictures.

[chrispmartha]

PenelopaPitstop said:

Read the contract. Someone will have to pay for the damage. It won't just disappear. Did you take detailed pictures at the end date of the lease and sent them to Leasys? It would be difficult to prove when the damage occured, without pictures.

Unfortunately I didn't.