My cars value has plummeted. Why?
Discussion
I bought a very nice clio sport 172 cup 53 plate last August for £3600 which was very much the going rate for a clean example at the time.
I decided on a change last month and put it up for sale on the classifieds for £3200. I've put a few miles on but it's still low mileage. It has had a few bits tidied up and is in as good condition as when i bought it if not better. Anyway, I had no interest what so ever. So obviously priced it a bit too high.
A few weeks have passed and I thought I'd see what they are actually selling for on ebay with the completed listings feature. I'm pretty suprised at what I saw. Most are not selling. Most are on classifieds and the ones that are on auctions are not meeting reserves, some dont even get any bids. The very few that have sold are all less than 2 grand. Nice ones aswell. A very nice example sold for £1800.
I'm not having a winge. I'm just staggered that a car can half in value in less than a year even when it's allready 8 years old. And a car that did seem fairly well respected as a great performance car.
Why is this? I'm wondering if the whole idea of a performance car is now starting to go out of fashion? Fuel prices, insurance and tyres seem to be going up. I guess this has to close the market slightly for a clio with a big engine. Or is it something i have missed. Has the clio just got to the age where people arent interested, just gone out of fashion. Again, not really having a moan. I dont mind keeping it. Just curious as to whats happening in the used car market.
I decided on a change last month and put it up for sale on the classifieds for £3200. I've put a few miles on but it's still low mileage. It has had a few bits tidied up and is in as good condition as when i bought it if not better. Anyway, I had no interest what so ever. So obviously priced it a bit too high.
A few weeks have passed and I thought I'd see what they are actually selling for on ebay with the completed listings feature. I'm pretty suprised at what I saw. Most are not selling. Most are on classifieds and the ones that are on auctions are not meeting reserves, some dont even get any bids. The very few that have sold are all less than 2 grand. Nice ones aswell. A very nice example sold for £1800.
I'm not having a winge. I'm just staggered that a car can half in value in less than a year even when it's allready 8 years old. And a car that did seem fairly well respected as a great performance car.
Why is this? I'm wondering if the whole idea of a performance car is now starting to go out of fashion? Fuel prices, insurance and tyres seem to be going up. I guess this has to close the market slightly for a clio with a big engine. Or is it something i have missed. Has the clio just got to the age where people arent interested, just gone out of fashion. Again, not really having a moan. I dont mind keeping it. Just curious as to whats happening in the used car market.
Out of the last four enquiries i've made to dealers for part-ex, 3 out of those 4 have offered me £1200 below the minimum book price.
I think its the same for us all.
At least it made the decision for me to run the car into the ground, and stop chucking money down the drain by changing cars every 10 months.
I think its the same for us all.
At least it made the decision for me to run the car into the ground, and stop chucking money down the drain by changing cars every 10 months.
hornetrider said:
Did you overpay? Ebay is a place for bargains imo and not properly representative of private sale value.
Yes, probably paid a little over the odds but was the spec I wanted and a nice easy purchase. I think Ebay gives a pretty accurate account of a cars value. I cant believe anyone in the market for a car wouldnt check out what Ebay has to offer these days.Piepiepie said:
Out of the last four enquiries i've made to dealers for part-ex, 3 out of those 4 have offered me £1200 below the minimum book price.
I think its the same for us all.
At least it made the decision for me to run the car into the ground, and stop chucking money down the drain by changing cars every 10 months.
How did you know what 'minimum' book price was?I think its the same for us all.
At least it made the decision for me to run the car into the ground, and stop chucking money down the drain by changing cars every 10 months.
rufusgti said:
Yes, probably paid a little over the odds but was the spec I wanted and a nice easy purchase. I think Ebay gives a pretty accurate account of a cars value. I cant believe anyone in the market for a car wouldnt check out what Ebay has to offer these days.
The spec you wanted? The Cup only comes in one spec doesn't it?! I'm in the same boat though apart from not wanting to sell mine yet, bought it about 15mths ago for £3300 & now worth a lot less despite being in better condition & with hardly any more miles.nobodyknows said:
The spec you wanted? The Cup only comes in one spec doesn't it?! I'm in the same boat though apart from not wanting to sell mine yet, bought it about 15mths ago for £3300 & now worth a lot less despite being in better condition & with hardly any more miles.
Nope. Some late cups came with climate. I wanted climate.Market is flooded with RS Clios, 172 values have really slumped because you can get a nice 182 for £4k and early 197's are now kicking off at £6-7k!
Renaultsport also did a PCP deal late last year offering a 200 at £1k deposit / £200 per month...
I sold a minty mint full fat 172 in Monaco last year for £3600 so I think you overpaid for a Cup.
The Trophy however seems to be in a little bubble of its own though!
Renaultsport also did a PCP deal late last year offering a 200 at £1k deposit / £200 per month...
I sold a minty mint full fat 172 in Monaco last year for £3600 so I think you overpaid for a Cup.
The Trophy however seems to be in a little bubble of its own though!
daemon said:
Piepiepie said:
Out of the last four enquiries i've made to dealers for part-ex, 3 out of those 4 have offered me £1200 below the minimum book price.
I think its the same for us all.
At least it made the decision for me to run the car into the ground, and stop chucking money down the drain by changing cars every 10 months.
How did you know what 'minimum' book price was?I think its the same for us all.
At least it made the decision for me to run the car into the ground, and stop chucking money down the drain by changing cars every 10 months.
I love when people say 'aha, but Parkers say the retail price is (usually a figure at least 1k under what you have the car for sale for)'
To which the reply is 'I hope your purchase from Parkers goes smoothly and that their aftersales service is as good as ours'
Back on topic, I think you overpaid. Advertise it on the Renaultsport forum. What colour is it?
Arthur Daley said:
Market is flooded with RS Clios, 172 values have really slumped because you can get a nice 182 for £4k and early 197's are now kicking off at £6-7k!
Renaultsport also did a PCP deal late last year offering a 200 at £1k deposit / £200 per month...
I sold a minty mint full fat 172 in Monaco last year for £3600 so I think you overpaid for a Cup.
The Trophy however seems to be in a little bubble of its own though!
That PCP deal would have a big effect on used prices. Renaultsport also did a PCP deal late last year offering a 200 at £1k deposit / £200 per month...
I sold a minty mint full fat 172 in Monaco last year for £3600 so I think you overpaid for a Cup.
The Trophy however seems to be in a little bubble of its own though!
The cups generally fetch more than the full fats now. Even though they were cheaper when new.
a mate of mine had to practically give his 51 plate one away
I think the following really matter
1. it used to be cool to talk about BHP but now its cooler if your car does 60 mpg
2. insurance constantly going up - why pay £1500 to insure a car when you can get a normal clio for £750 per year?
3. people are skint so cut back on cars to pay the essentials
4. speed cameras and traffic
5. fuel prices
6. people now conscious that they should be saving and paying off debt rather than buying on credit card/loan etc
the second wave of this downturn is fast approaching sadly, no more QE, talks of rates rising, public sector cuts coming in, public sector pay freezes, companies in administration, redundancies etc etc etc
plus, the market is flooded with 172's etc
it's a combination of all the above and it just becomes toxic when you add them all up
just wait to see what will happen at the next commercial property rent review, when greece goes bust and when rates start edging up
I think the following really matter
1. it used to be cool to talk about BHP but now its cooler if your car does 60 mpg
2. insurance constantly going up - why pay £1500 to insure a car when you can get a normal clio for £750 per year?
3. people are skint so cut back on cars to pay the essentials
4. speed cameras and traffic
5. fuel prices
6. people now conscious that they should be saving and paying off debt rather than buying on credit card/loan etc
the second wave of this downturn is fast approaching sadly, no more QE, talks of rates rising, public sector cuts coming in, public sector pay freezes, companies in administration, redundancies etc etc etc
plus, the market is flooded with 172's etc
it's a combination of all the above and it just becomes toxic when you add them all up
just wait to see what will happen at the next commercial property rent review, when greece goes bust and when rates start edging up
jonah35 said:
a mate of mine had to practically give his 51 plate one away
I think the following really matter
1. it used to be cool to talk about BHP but now its cooler if your car does 60 mpg
2. insurance constantly going up - why pay £1500 to insure a car when you can get a normal clio for £750 per year?
3. people are skint so cut back on cars to pay the essentials
4. speed cameras and traffic
5. fuel prices
6. people now conscious that they should be saving and paying off debt rather than buying on credit card/loan etc
the second wave of this downturn is fast approaching sadly, no more QE, talks of rates rising, public sector cuts coming in, public sector pay freezes, companies in administration, redundancies etc etc etc
plus, the market is flooded with 172's etc
it's a combination of all the above and it just becomes toxic when you add them all up
just wait to see what will happen at the next commercial property rent review, when greece goes bust and when rates start edging up
Yup that's pretty much the size of it.I think the following really matter
1. it used to be cool to talk about BHP but now its cooler if your car does 60 mpg
2. insurance constantly going up - why pay £1500 to insure a car when you can get a normal clio for £750 per year?
3. people are skint so cut back on cars to pay the essentials
4. speed cameras and traffic
5. fuel prices
6. people now conscious that they should be saving and paying off debt rather than buying on credit card/loan etc
the second wave of this downturn is fast approaching sadly, no more QE, talks of rates rising, public sector cuts coming in, public sector pay freezes, companies in administration, redundancies etc etc etc
plus, the market is flooded with 172's etc
it's a combination of all the above and it just becomes toxic when you add them all up
just wait to see what will happen at the next commercial property rent review, when greece goes bust and when rates start edging up
Gassing Station | General Gassing | Top of Page | What's New | My Stuff