Why are (second hand) cars so expensive these days?
Discussion
I mean seriously, is an M3 CSL really £40k better than a CS? Is a 996 turbo worth £45k? Is it ok to buy a Sierra Sapphire Cosworth for £30k?
I bought a mint 996 turbo in 2012 for £23k. Why is it now worth so much more?
Back when I was 20 I had a Sapphire Cossie which I bought for £7k. I mean it was awesome at the time (1995) but it wouldn't see which way most hot hatches went any more and the interior was 'shaky' to say the least.
Are prices going to soften, surely they can't stay as hard as they are for ever...?
I bought a mint 996 turbo in 2012 for £23k. Why is it now worth so much more?
Back when I was 20 I had a Sapphire Cossie which I bought for £7k. I mean it was awesome at the time (1995) but it wouldn't see which way most hot hatches went any more and the interior was 'shaky' to say the least.
Are prices going to soften, surely they can't stay as hard as they are for ever...?
I saw a gen 2 Renault Clio V6 today. I remember when I got a Honda Accord a few years back for £11.5k there was a Clio V6 up for the same money. I was scared off by big bodywork bills being more exotic so decided to go sensible. My Honda was worth nothing when I changed. Wish I went for the Clio and put it in the garage! Going for mad money now.
You've highlighted just a couple of cars that may be considered 'overpriced. By contrast there are many cheap cars around now.
You can get a decent clio 182 or Civic type R for under £2k
More than acceptable Mk5 Golf GTi for little over £2k
A variety of Lexus Hybrids for under £5k
Nice BMW 130i/335i545i for £3-4k
Bentley Continental for a little over £15k
Aston Martin DB9 for a little over £25k
Lots of decent cars for very little money
You can get a decent clio 182 or Civic type R for under £2k
More than acceptable Mk5 Golf GTi for little over £2k
A variety of Lexus Hybrids for under £5k
Nice BMW 130i/335i545i for £3-4k
Bentley Continental for a little over £15k
Aston Martin DB9 for a little over £25k
Lots of decent cars for very little money
GroundEffect said:
Speculation. The markets and the interest rates are low, so money goes in to classic cars for cars seen to have providence, therefore expecting to appreciate further.
I nearly bought a 996 Turbo when they were £25k. Chickened out. I should have!
until the music stops!;)I nearly bought a 996 Turbo when they were £25k. Chickened out. I should have!
Whilst borrowings cheap and plentiful sought after cars will appreciate.
To answer your question are they worth it.....to me or 99.9% of the population I would imagine the answers a No.
You would really have to be very very wealthy where it's money to burn and you can afford to lose to buy many of these cars now.
To answer your question are they worth it.....to me or 99.9% of the population I would imagine the answers a No.
You would really have to be very very wealthy where it's money to burn and you can afford to lose to buy many of these cars now.
Edited by coljoh148 on Thursday 9th August 17:19
Exige77 said:
They sell for what ever price someone is prepared to pay.
Yep. To the OPer: as someone's already said, people are speculating, taking a gamble. Prices may well top out followed by a crash but then what will people put their money into instead?
As it stands, we have non-enthusiasts paying a lot of money for basically old, unreliable cars (not the cars you mentioned but the classics that are going for ridiculous sums which then encourages people to "invest" in the cars you mentioned). They still need maintaining and are still old, slow, crap cars that only enthusiasts like you and I will enjoy driving.
Why is a Picasso worth millions when a painting by a local artist which is probably "better" can be bought for £50?
Things are worth what people will pay for them, and what people will pay for things is often defined by what they think other people will pay for the same thing in the future.
Things are worth what people will pay for them, and what people will pay for things is often defined by what they think other people will pay for the same thing in the future.
kambites said:
Things are worth what people will pay for them, and what people will pay for things is often defined by what they think other people will pay for the same thing in the future.
Oh so they're buying them not because they really want to own and drive one. They're buying them because they think that someone else will want to buy it in the future for more money because that next person thinks it'll sell for more later. Amazing.Where will it all end?
Lozzaroo said:
Oh so they're buying them not because they really want to own and drive one. They're buying them because they think that someone else will want to buy it in the future for more money because that next person thinks it'll sell for more later. Amazing.
Where will it all end?
When the interest rate goes up.Where will it all end?
Cheap though!I don’t think they are for mainstream stuff at under 6 or 7 k. In fact I think that’s where the value lies. Leaving classics aside, what I don’t understand is why late model repmobiles are so damn dear at so called car supermarkets. They will be ex-hire, ex-fleet, ex daily rental etc., most will have had multiple drivers. The bulk of these cars will be fine, but why are they a mere few thou off new list price, given that that is never paid in the real world ?Big saloons are not popular, the worthy Avensis is obsolete, Mondeo is huge, Insignia is ubiquitous, C5 and 508 are quirky.....so why so expensive second hand.?
Edited by Lester H on Saturday 10th November 23:09
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