Weekend toys not being bought, really?
Discussion
I'm looking to sell my Morgan to buy an Alpine, having contacted every Morgan dealer this week all have said we're not taking cars because we can't sell the stock we have. Only one would say they would take it on a sale or return basis.
Pressing them further that if I were to advertise privately what would be a tempting asking price, there is a 20% spread of prices, but again all said I will struggle.
Right where are my matches and can of petrol
Is this just a Morgan problem or are other "toys" affected in the same way?
Pressing them further that if I were to advertise privately what would be a tempting asking price, there is a 20% spread of prices, but again all said I will struggle.
Right where are my matches and can of petrol
Is this just a Morgan problem or are other "toys" affected in the same way?
sherbertdip said:
I'm looking to sell my Morgan to buy an Alpine, having contacted every Morgan dealer this week all have said we're not taking cars because we can't sell the stock we have. Only one would say they would take it on a sale or return basis.
Pressing them further that if I were to advertise privately what would be a tempting asking price, there is a 20% spread of prices, but again all said I will struggle.
Right where are my matches and can of petrol
Is this just a Morgan problem or are other "toys" affected in the same way?
I doubt Morgan’s have a huge market place so unlikely to be indicative of the overall market imo.Pressing them further that if I were to advertise privately what would be a tempting asking price, there is a 20% spread of prices, but again all said I will struggle.
Right where are my matches and can of petrol
Is this just a Morgan problem or are other "toys" affected in the same way?
I'm in a fortunate position to be able to purchase another occasional car now that I'm retired.
Most vehicles I'm looking at fall into the very high level tax bands, £600 pa plus.
Again I can afford to pay that. But, that works out at say £60 per month. Using the car 4 times is going to cost me £15 a time. After paying taxes for 50 odd years I begrudge paying anymore to the government.
Whilst on the subject, those high performing, high tax cars up to 2017 are really going to suffer.
Since then the first owners are paying high taxes for the first few years, and then the cost really reduces, really benefiting subsequent owners.
Most vehicles I'm looking at fall into the very high level tax bands, £600 pa plus.
Again I can afford to pay that. But, that works out at say £60 per month. Using the car 4 times is going to cost me £15 a time. After paying taxes for 50 odd years I begrudge paying anymore to the government.
Whilst on the subject, those high performing, high tax cars up to 2017 are really going to suffer.
Since then the first owners are paying high taxes for the first few years, and then the cost really reduces, really benefiting subsequent owners.
Yes it is a niche car but I am sure if you write a good advert and price it right it will sell.
Garages are an absolute rip off. When I was looking to buy my Exige I spoke to a lotus garage (also Morgan so you may of also had the misfortune of speaking to these) I was getting out of a GT4 they offered me £10k less than I achieved privately. But they spoke to me like they were doing me the biggest favour ever, recession coming yadda yadda.
Garages are an absolute rip off. When I was looking to buy my Exige I spoke to a lotus garage (also Morgan so you may of also had the misfortune of speaking to these) I was getting out of a GT4 they offered me £10k less than I achieved privately. But they spoke to me like they were doing me the biggest favour ever, recession coming yadda yadda.
I have a Porsche Boxster for sale on a number of sites and have had no interest at all in the last couple of weeks and it's priced competitively amongst others for sale but no interest so far apart from a scammer despite loads of clicks on the advert.
I have a friend though who was looking to trade in his Mercedes C63s Coupe and he paid something over 50k for it last year and when he was looking at trading in against a Cayman GT4 the dealer offered him around £35k on trade in, a 20k drop in around a year! Needless to say he's keeping the Mercedes.
I have a friend though who was looking to trade in his Mercedes C63s Coupe and he paid something over 50k for it last year and when he was looking at trading in against a Cayman GT4 the dealer offered him around £35k on trade in, a 20k drop in around a year! Needless to say he's keeping the Mercedes.
Tabs said:
I'm in a fortunate position to be able to purchase another occasional car now that I'm retired.
Most vehicles I'm looking at fall into the very high level tax bands, £600 pa plus.
Again I can afford to pay that. But, that works out at say £60 per month. Using the car 4 times is going to cost me £15 a time. After paying taxes for 50 odd years I begrudge paying anymore to the government.
Whilst on the subject, those high performing, high tax cars up to 2017 are really going to suffer.
Since then the first owners are paying high taxes for the first few years, and then the cost really reduces, really benefiting subsequent owners.
Just don't tax it. So few police on the roads that you'll never get tugged.Most vehicles I'm looking at fall into the very high level tax bands, £600 pa plus.
Again I can afford to pay that. But, that works out at say £60 per month. Using the car 4 times is going to cost me £15 a time. After paying taxes for 50 odd years I begrudge paying anymore to the government.
Whilst on the subject, those high performing, high tax cars up to 2017 are really going to suffer.
Since then the first owners are paying high taxes for the first few years, and then the cost really reduces, really benefiting subsequent owners.
I've seen this on a few of the car forums I'm on. Well built/spec'd/maintained cars at good prices just sitting around, at all ends of the market. Not sure if there is a glut of toys available as people are selling up, or people are being much more cautious about what they're buying, especially as credit isn't as cheap as it was.
Tabs said:
I'm in a fortunate position to be able to purchase another occasional car now that I'm retired.
Most vehicles I'm looking at fall into the very high level tax bands, £600 pa plus.
Again I can afford to pay that. But, that works out at say £60 per month. Using the car 4 times is going to cost me £15 a time. After paying taxes for 50 odd years I begrudge paying anymore to the government.
Whilst on the subject, those high performing, high tax cars up to 2017 are really going to suffer.
Since then the first owners are paying high taxes for the first few years, and then the cost really reduces, really benefiting subsequent owners.
Use it 8 times then, that way it'll only cost you £7.50 a go Most vehicles I'm looking at fall into the very high level tax bands, £600 pa plus.
Again I can afford to pay that. But, that works out at say £60 per month. Using the car 4 times is going to cost me £15 a time. After paying taxes for 50 odd years I begrudge paying anymore to the government.
Whilst on the subject, those high performing, high tax cars up to 2017 are really going to suffer.
Since then the first owners are paying high taxes for the first few years, and then the cost really reduces, really benefiting subsequent owners.
Seriously though, I'm not a fan of more taxes either, but I'd rather they were on luxury items than everyday stuff.
Toidi said:
Tabs said:
I'm in a fortunate position to be able to purchase another occasional car now that I'm retired.
Most vehicles I'm looking at fall into the very high level tax bands, £600 pa plus.
Again I can afford to pay that. But, that works out at say £60 per month. Using the car 4 times is going to cost me £15 a time. After paying taxes for 50 odd years I begrudge paying anymore to the government.
Whilst on the subject, those high performing, high tax cars up to 2017 are really going to suffer.
Since then the first owners are paying high taxes for the first few years, and then the cost really reduces, really benefiting subsequent owners.
Just don't tax it. So few police on the roads that you'll never get tugged.Most vehicles I'm looking at fall into the very high level tax bands, £600 pa plus.
Again I can afford to pay that. But, that works out at say £60 per month. Using the car 4 times is going to cost me £15 a time. After paying taxes for 50 odd years I begrudge paying anymore to the government.
Whilst on the subject, those high performing, high tax cars up to 2017 are really going to suffer.
Since then the first owners are paying high taxes for the first few years, and then the cost really reduces, really benefiting subsequent owners.
From a potential buyer POV, I'm in the situation where I expected to be entering into owning a weekend toy as my circumstances have changed beyond my expectations for the better to the point that only a few years ago if I saw myself in this position I wouldn't have hesitated.
However, I can't bring myself to pull the trigger even though I've been cutting my budget right down for this purchase. Initially was looking at AMG GT now I occasionally consider a 2010ish Vantage or maybe a Cayman.
Things that are stopping me:
1. Finance. No way am I paying 10%.
2. I'm seeing the cars I have been looking at dropping in price quite regularly. AMG GT especially so.
3. I'm nervy about making a long term commitment right now, even though I expect my affordability to improve over the next 12 months.
4. The cost of everything has gone up so much, I don't feel any better off.
But... on the other hand. I want a weekend toy before my mortgage payments go up at my next remortgage in 4 years.
However, I can't bring myself to pull the trigger even though I've been cutting my budget right down for this purchase. Initially was looking at AMG GT now I occasionally consider a 2010ish Vantage or maybe a Cayman.
Things that are stopping me:
1. Finance. No way am I paying 10%.
2. I'm seeing the cars I have been looking at dropping in price quite regularly. AMG GT especially so.
3. I'm nervy about making a long term commitment right now, even though I expect my affordability to improve over the next 12 months.
4. The cost of everything has gone up so much, I don't feel any better off.
But... on the other hand. I want a weekend toy before my mortgage payments go up at my next remortgage in 4 years.
I think dealers are subject to all sorts of constraints such that sometimes they're desperate for stock and other times they're turning it away, which doesn't necessarily directly read across to the wider used market in general. Maybe they've stocked up in anticipation of the sunnier weather which has taken its time arriving, maybe financing costs are limiting how many cars they can stock, maybe they're anticipating a new model.
FWIW I've been tracking Sports Series McLarens on AT, number of ads withdrawn (so likely sold) per week over the last few weeks is 17, 17, 19, 25, 9, and 8. So generally feels like at least that market is ticking over, cars at the right price are being bought, hence
IME if you position a car such that there's a compelling reason for someone to buy yours rather than the others on the market, it'll sell. So generally a bit cheaper than cars advertised that appear directly comparable in terms of spec, year, mileage.
FWIW I've been tracking Sports Series McLarens on AT, number of ads withdrawn (so likely sold) per week over the last few weeks is 17, 17, 19, 25, 9, and 8. So generally feels like at least that market is ticking over, cars at the right price are being bought, hence
keo said:
Yes it is a niche car but I am sure if you write a good advert and price it right it will sell.
Don't forget that the prices you see advertised are the cars that have not been purchased, the cars that have actually been cheap enough to sell, have sold, so you aren't seeing those ads. So looking at advertised asking prices, there is a 'survivorship bias' which distorts the picture upwards somewhat.IME if you position a car such that there's a compelling reason for someone to buy yours rather than the others on the market, it'll sell. So generally a bit cheaper than cars advertised that appear directly comparable in terms of spec, year, mileage.
So I sold my Boxster just now toa dealer who travelled from South Wales to Yorkshire to collect it, he told me he and his brother who own the business are buying porsches because they sell well.
He must have better luck than me.
Anyway I ended up having ro sell it for around £1000 less than I wanted so I'd guess he will likely price it the same as I did on his forecourt or slightly more.
He must have better luck than me.
Anyway I ended up having ro sell it for around £1000 less than I wanted so I'd guess he will likely price it the same as I did on his forecourt or slightly more.
Jamescrs said:
So I sold my Boxster just now toa dealer who travelled from South Wales to Yorkshire to collect it, he told me he and his brother who own the business are buying porsches because they sell well.
He must have better luck than me.
Anyway I ended up having ro sell it for around £1000 less than I wanted so I'd guess he will likely price it the same as I did on his forecourt or slightly more.
My boxster is prob worth 10-11k, I spoke to a friend today who is a trader and he said that hpi trade indication is 6500….he says people would pay more for it but shows you the margin they may want or need potentiallyHe must have better luck than me.
Anyway I ended up having ro sell it for around £1000 less than I wanted so I'd guess he will likely price it the same as I did on his forecourt or slightly more.
A chap I know who sells sports and classics said the market went quiet in Q4 last year. Much more than just seasonal.
Weekend toys appear to be taking a different trajectory to mass market used cars. I was pleased to get out of my TVR a few months ago for close to what I paid a specialist for it two summers previously. The buyer was going to keep his Lotus until Spring expecting to get more for it.
Weekend toys appear to be taking a different trajectory to mass market used cars. I was pleased to get out of my TVR a few months ago for close to what I paid a specialist for it two summers previously. The buyer was going to keep his Lotus until Spring expecting to get more for it.
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