Blimey They really are getting cheaper!!
Discussion
to be fair we are having a chat about prices on a number of forums at the moment.
There are the genuine bargains out there of course. But then in a lot of cases you get what you pay for...numerous stories of people travelling to pick up there new bargain to find outriggers just about to fail, or its on the register, or the interior needs totally renewing etc. One chap who has just registered bought a cheap 4.3 from a dealer and managed to arrange a post purchase discount (never have heard of that before) for discoveries made after he took it home.
Not suggesting this car may not be a totaly bargain, and with your skills Chris a "project" car that perhaps isnt totally mint is a good call to actually get an appreciating car, but if you price out the work to be done professionally and compare it to the bargain £10k end of the chim market that will get you an A1 car, its suddenly not so attractive a proposition.
There are the genuine bargains out there of course. But then in a lot of cases you get what you pay for...numerous stories of people travelling to pick up there new bargain to find outriggers just about to fail, or its on the register, or the interior needs totally renewing etc. One chap who has just registered bought a cheap 4.3 from a dealer and managed to arrange a post purchase discount (never have heard of that before) for discoveries made after he took it home.
Not suggesting this car may not be a totaly bargain, and with your skills Chris a "project" car that perhaps isnt totally mint is a good call to actually get an appreciating car, but if you price out the work to be done professionally and compare it to the bargain £10k end of the chim market that will get you an A1 car, its suddenly not so attractive a proposition.
I don't believe that all these 'cheap' cars are projects, recorded on the register, etc,etc. Some are obviously, but I think the majority are priced at what they're worth.
Cars seem to be worth f-all if you're selling at the moment - all types.
Got offered £1900 for a 2000 (W) Xantia SX Diesel with 56k on it. Not everyones choice, I know, but a £18k car new reduced in less than 4 years to under £2k?
And it's absolutely mint
Cars seem to be worth f-all if you're selling at the moment - all types.
Got offered £1900 for a 2000 (W) Xantia SX Diesel with 56k on it. Not everyones choice, I know, but a £18k car new reduced in less than 4 years to under £2k?
And it's absolutely mint
Tyre Smoke said:
I don't believe that all these 'cheap' cars are projects, recorded on the register, etc,etc. Some are obviously, but I think the majority are priced at what they're worth.
I am not sure I understand what you are saying here. You dont believe that these "cheap" cars are projects, just priced at what they are worth...??
Priced at what they are worth seems reasonable. For £7k there was a 120k (ish) chimaera with tatty paintwork etc the other week. For £9k someone bought a 4.3 that needs various bits doing (thread on the chimaera forum). So priced at what they are worth yes, needing some work to get to be worth £10k, as seems the A1 early cars threshold. Isnt that "work" a project?
Sorry, I wasn't all that clear was I?
What I meant was these cars are priced at their value for a sale. Not priced too cheaply in order to drag the market down. I would not expect any car of 10 or more years to be mint (even yours) and would expect Chimaeras to be under £10k regularly forever and a day going forward from here. Yes, prices are depressed at this time of year, but I don't think there will be a 'bounce' of around a grand accross the board come the Spring.
By the way, I think your car is cheap from what I've heard/read about it. The problem is that a potential buyer could buy something 5/6 years newer for another £2k.
What I meant was these cars are priced at their value for a sale. Not priced too cheaply in order to drag the market down. I would not expect any car of 10 or more years to be mint (even yours) and would expect Chimaeras to be under £10k regularly forever and a day going forward from here. Yes, prices are depressed at this time of year, but I don't think there will be a 'bounce' of around a grand accross the board come the Spring.
By the way, I think your car is cheap from what I've heard/read about it. The problem is that a potential buyer could buy something 5/6 years newer for another £2k.
Tyre Smoke said:
Sorry, I wasn't all that clear was I?
What I meant was these cars are priced at their value for a sale. Not priced too cheaply in order to drag the market down. I would not expect any car of 10 or more years to be mint (even yours) and would expect Chimaeras to be under £10k regularly forever and a day going forward from here. Yes, prices are depressed at this time of year, but I don't think there will be a 'bounce' of around a grand accross the board come the Spring.
By the way, I think your car is cheap from what I've heard/read about it. The problem is that a potential buyer could buy something 5/6 years newer for another £2k.
totally agree. Although i wasnt actually trying to protect the value of my car at all. But then I guess I am not that desperate to sell it as I dont need the cash I just fancy a change. But you are right, find another £2k and you can get one considerably newer. But then I was originally looking for 95 - 97 cars before I bought mine and couldnt find one with a chassis I was satisfied with until I saw mine. sad eh! couple that with expensive upgrades such as the fully adjustable suspension and I cant see how its worth less than the price I have asked. C'est la vie, as I say, its not really an issue with my own car.
I do think these odd ones below £10k are often priced according to their condition and/or HPI status etc or mileage etc. Its rare a genuine bargain comes up apart from the occasions where someone is in desperate need of the cash and need shot of it asap.
Its difficult to tell what will happen come spring. Convertibles sell well, but if the market for chimaeras is particularly good prices may rise £1k across the board, or more if demand exceed supply. Look at the griff (albeit far less available that outstrips demand). I do agree though that I cannot see a price hike, only a stabilise. Time will tell I guess but in my view a chim bought around £10k will stay pretty much depreciation proof for a good 2 years or so.
Podie said:
Question is, if you buy a car for £10k, and then spend £2k getting it up to scratch… is it actually worth £12k…?
depends on any number of things doesnt it. stuff like my fancy shocks/springs wont add what I paid onto the cars value.
However, a 95 with stone chips, a knackered exhaust, mismatched worn no name tyres, and the chassis needing a proper rub down, POR15 coating and waxoyle would probably add the cost of the work to the original price..
Podie said:
Question is, if you buy a car for £10k, and then spend £2k getting it up to scratch… is it actually worth £12k…?
Depends on what "up to scratch" is.
If it is getting it back into good standard order because it is scruffy or has faults then yes, it will add to the value.
Just realised this is a pointless post. You and everybody knows that anyway. I have just done what I hate seeing on PH and that is posting the obvious answer which everyone already knows.
Im sorry. I'll shut up and go away now.
DustyC said:
Question is, if you buy a car for £10k, and then spend £2k getting it up to scratch… is it actually worth £12k…?
Depends on what "up to scratch" is.
If it is getting it back into good standard order because it is scruffy or has faults then yes, it will add to the value.
Just realised this is a pointless post. You and everybody knows that anyway. I have just done what I hate seeing on PH and that is posting the obvious answer which everyone already knows.
Im sorry. I'll shut up and go away now.
It was a rhetorical question...
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