Oatz Posted March 29, 2009 Report Share Posted March 29, 2009 I've been keeping my eye out over the last few months for a potential replacement since selling the V6, is it me or have second hand car prices gone up recently?? I almost bought an edition 30 a month ago (but suspected accident damage) for £14.1k from an Indy dealer (coincidentally I also bought my old vr6 from him 9 years ago) but he ended up selling it to another dealer for £14.5k! It can now be found on Autotrader at Mini Carlisle for £16.5k! The dealer told me this happened last time around, no one bought new so secondhand values increased until people started buying new again (lack of supply and more demand) Link to comment Share on other sites More sharing options...
Mr Man Posted March 29, 2009 Report Share Posted March 29, 2009 I've been keeping my eye out over the last few months for a potential replacement since selling the V6, is it me or have second hand car prices gone up recently?? I almost bought an edition 30 a month ago (but suspected accident damage) for £14.1k from an Indy dealer (coincidentally I also bought my old vr6 from him 9 years ago) but he ended up selling it to another dealer for £14.5k! It can now be found on Autotrader at Mini Carlisle for £16.5k!The dealer told me this happened last time around, no one bought new so secondhand values increased until people started buying new again (lack of supply and more demand) A few of the Auto mags are saying the same.....I`am old enough to have seen a few recessions and it`s the same story each time.....Countless dis-used airfields crammed with unsold new cars=short supply of clean used cars=increase in value of used quality stock....particularly low milage 1 to 3 yr old cars......That`s why every dealer that has my address on their data base keeps sending me letters to inform me how they desperately want my car as they have customers wanting to buy used.....and of course they want me to trade in for new. Link to comment Share on other sites More sharing options...
D1MAC Posted March 29, 2009 Report Share Posted March 29, 2009 Definitely going up, and by a fair chunk as well. I've been thinking about getting a Z4 Coop for a while and 6 months ago I could have got a 57 plate for the same money as I'd now get 56 plate for. For my sins, I've also been looking at 130i's as a cheaper alternative (well just about everyome who has driven one says they're good fun, so they can't all be wrong) and I missed out on a couple about 2/3 months ago @ £12995 (before haggling) & now the starting point for the same seems to be closer to £14995. Hell, even my Focus has gone up in value, even though it guzzles fuel (allegedly - not THAT bad in reality) and has done more miles. The hardest part as a punter is trying to work out where you stand in bargaining terms - PITA!!!! Link to comment Share on other sites More sharing options...
Oatz Posted March 29, 2009 Author Report Share Posted March 29, 2009 Well after this thread http://www.tyresmoke.net/forum/general-cars/114008-second-hand-values-sell-now-wait.html I took the decission to sell my V6 at that moment in time. I only wish I'd listened to myself now as I'm sure I could get more now than I did then.... Oh well that's life and at least i haven't had to spend out on £600 insurance, tax, servicing etc etc How long are these price rising going to continue for?? Should have jumped back in a bit sooner. Mook, have you jumped back in yet?? Link to comment Share on other sites More sharing options...
Booster Posted March 30, 2009 Report Share Posted March 30, 2009 Well I got it very wrong in that thread didn't I? To be honest, speaking to chaps in the trade over the last few weeks there is already a change of sentiment in the air. Dealers have been paying silly money for cars and haven't been able to pass on all of the increases to the public as everyone wants a bargain right now. They have therefore been working on smaller margins. I went to see six of our dealers last week and some of their forecourts look like they are going out of business as there are so few cars for sale. They all said the same thing that they are not prepared to pay the high prices any more. Yes, used is selling well at the moment but if things change (i.e. we get another batch of bad news about the banks or some more high street names go the wall) and people stop buying again like they did in the last quarter of 2008 then they will be left holding a load of stock that stands them all wrong when prices soften. There are already some silly deals on new around now and there will have to be more very soon of they want to get the factories producing again and the stock-pile cleared. It stands to reason that second hand will have to drop considerably or we will be in a situation where there will be second hand cars that are dearer than new! Link to comment Share on other sites More sharing options...
Merlot Posted March 30, 2009 Report Share Posted March 30, 2009 If I had a car I would sit tight and buy in the autumn. Prices for used metal are now a bit high IMHO and with job losses coming through and a likely large fall in consumer spending over the summer (look at the change in the savings ratio over the last three quarters), prices will have to fall as we move from Q3 into Q4. Link to comment Share on other sites More sharing options...
cruiser647 Posted March 30, 2009 Report Share Posted March 30, 2009 I have noticed this, there is a dealer that I pass on the A1 twice a day. Starling Motors. It's in Biggleswade. Recently I have seen a few gaps developing in his line up. Last part of 2008, and there were no gaps for quite a while. Link to comment Share on other sites More sharing options...
Booster Posted March 30, 2009 Report Share Posted March 30, 2009 This article has more on the subject: Buoyant used car market shows signs of receding Link to comment Share on other sites More sharing options...
Brabus Posted March 30, 2009 Report Share Posted March 30, 2009 It's all to do with the bear market rally, lol. Used prices have to come down again, no doubt about it. Link to comment Share on other sites More sharing options...
Mollox Posted April 4, 2009 Report Share Posted April 4, 2009 Its ridiculous - just been out to have a good look and didn't find anything to look at... 2 months ago I was licking my lips and couldn't believe what was out there, and now I'm just scratching my head Seems that equivalent metal in some cases is 3-5k more than it was 2 months ago... Link to comment Share on other sites More sharing options...
JonC Posted April 4, 2009 Report Share Posted April 4, 2009 Its ridiculous - just been out to have a good look and didn't find anything to look at...2 months ago I was licking my lips and couldn't believe what was out there, and now I'm just scratching my head Seems that equivalent metal in some cases is 3-5k more than it was 2 months ago... What have you been looking at? Link to comment Share on other sites More sharing options...
Mollox Posted April 4, 2009 Report Share Posted April 4, 2009 See above - nothing Link to comment Share on other sites More sharing options...
D1MAC Posted April 4, 2009 Report Share Posted April 4, 2009 Its ridiculous - just been out to have a good look and didn't find anything to look at...2 months ago I was licking my lips and couldn't believe what was out there, and now I'm just scratching my head Seems that equivalent metal in some cases is 3-5k more than it was 2 months ago... I know the feeling - I'm looking at the moment and would buy the right thing at a sensible price at the drop of a hat but I'm really struggling to find anything that suits. On the prices front, how about this one: Approved Used BMW Just a week ago this car was £2k less and it wasn't getting people breaking down the door at the lower price - :confused: Link to comment Share on other sites More sharing options...
cruiser647 Posted April 5, 2009 Report Share Posted April 5, 2009 Linky not worky! Link to comment Share on other sites More sharing options...
D1MAC Posted April 5, 2009 Report Share Posted April 5, 2009 Linky not worky! Has worked for me on different machines. It is probably down to the BMW website being up & down more than the whore's knickers over the last few days. Probably doesn't really matter actually - It's an '07 bog std pre facelift 130iM with no options and average miles that has rocketed from £16.5k to £18.5k within the last week. From the pics, it even looks like it's been driven by Mr Sandpaper Hands. Leaving aside whether you like the looks etc or not, that's pretty awful value when you can get a 56 plate with nav, leather etc for £15k and when they couldn't sell it beforehand for £2k less - :confused: Link to comment Share on other sites More sharing options...
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