Used Car Prices - What do you reckon will happen?

[RoverFolkUs]

£6k isn't unreasonable for a 2011 Automatic Corsa at the moment...

I thought Corsa D's would be wedged in the sub £2k category by now given how shit they are, but it seems not 

[RoverFolkUs]

On 4/7/2022 at 12:56 PM, Bren said:

 I wonder what it will be punted on for.

If you happen to know the reg and are inclined to, you can go onto the app 'Totalcarcheck' and if the new dealer puts it up for sale on the likes of Autotrader or gumtree the app will tell you the price 

[sierraman]

11 minutes ago, RoverFolkUs said:

"It's only going to cost me £200 a month" - yeah with a 10 year 12.9% APR finance package 🙃

That will be sort of folk who buy something like that. The payable price means nothing to them

This is going to sound harsh but if you are stupid enough to pay £11,250 for that you really shouldn’t be exposed to credit. I often think that surely people that sign up for such things must in their head figure out that it’s a crazy idea. 

[RoverFolkUs]

5 minutes ago, sierraman said:

This is going to sound harsh but if you are stupid enough to pay £11,250 for that you really shouldn’t be exposed to credit. I often think that surely people that sign up for such things must in their head figure out that it’s a crazy idea. 

I agree! 

On the subject of crazy ideas... 

I saw a post about someone saying how "bad" their MK7 Fiesta was, total lemon, they were sold a deathtrap etc etc, all that usual crap.

It was a 2012 Titanium so probably worth 2 or 3 grand. It failed it's MOT on 2x tyres, a couple of bulbs and a shock absorber. 

Instead of spending £400 or so (max) on fixing it, they said they scrapped it, got £300 for it and bought a MK6 Fiesta off Facebook marketplace for £200 and were exclaiming to everyone how much better off they were 🤦

[sierraman]

23 minutes ago, RoverFolkUs said:

If you happen to know the reg and are inclined to, you can go onto the app 'Totalcarcheck' and if the new dealer puts it up for sale on the likes of Autotrader or gumtree the app will tell you the price 

Does it tell you old sold prices? 

[sierraman]

1 minute ago, RoverFolkUs said:

I agree! 

On the subject of crazy ideas... 

I saw a post about someone saying how "bad" their MK7 Fiesta was, total lemon, they were sold a deathtrap etc etc, all that usual crap.

It was a 2012 Titanium so probably worth 2 or 3 grand. It failed it's MOT on 2x tyres, a couple of bulbs and a shock absorber. 

Instead of spending £400 or so (max) on fixing it, they said they scrapped it, got £300 for it and bought a MK6 Fiesta off Facebook marketplace for £200 and were exclaiming to everyone how much better off they were 🤦

A fool and their money are easily parted. 

[RoverFolkUs]

1 minute ago, sierraman said:

Does it tell you old sold prices? 

Not quite, it only shows historical advert prices. I've found it seems to go back to 2019 and picks up autotrader and gumtree, but not FB marketplace or ebay.

It's not perfect, but it can be a good indication if a car has been through a merry-go-round of dealers in quick succession. It does also pick up private adverts too as long as they're from gumtree or Autotrader 

[Bren]

I have had my 545 for nearly four years. The mileage is just coming up to six figures.

I would like a change - the novelty of putting high octane fuel in is wearing off. However a comparable car with similar miles - only newer - will cost me £8-10k. Chances are it would have prolapased before it was paid off.

I consider myself a bit of a car enthusiast - that's why the thought of a brand new dacia etc. is a non starter.

[New POD]

3 hours ago, RoverFolkUs said:

I agree! 

On the subject of crazy ideas... 

I saw a post about someone saying how "bad" their MK7 Fiesta was, total lemon, they were sold a deathtrap etc etc, all that usual crap.

It was a 2012 Titanium so probably worth 2 or 3 grand. It failed it's MOT on 2x tyres, a couple of bulbs and a shock absorber. 

Instead of spending £400 or so (max) on fixing it, they said they scrapped it, got £300 for it and bought a MK6 Fiesta off Facebook marketplace for £200 and were exclaiming to everyone how much better off they were 🤦

£500 better off.  

If you don't know the value of your asset, and don't  have the ready cash, to preserve the asset's value, it all comes down to cash flow. 

Pay £400, or get £100 back and still have legal transport. 

Or pay £400, sell it for £2.5k (that's about the private value ?)  thus having realised £2100, then spend £200 On replacement, and now having £1900 in the bank. If only they had £400 and a basic common sense. 

[RoverFolkUs]

22 minutes ago, New POD said:

£500 better off.  

If you don't know the value of your asset, and don't  have the ready cash, to preserve the asset's value, it all comes down to cash flow. 

Pay £400, or get £100 back and still have legal transport. 

Or pay £400, sell it for £2.5k (that's about the private value ?)  thus having realised £2100, then spend £200 On replacement, and now having £1900 in the bank. If only they had £400 and a basic common sense. 

That's the thing, they would have been so much better off fixing the car for £400 and selling it for let's say £2000 if they didn't want to spend that much to keep it. 

Unless they paid £300 for the car in the first place, you've got to consider the loss from purchase price to scrap when it could have been the difference between purchase price and current market price

[Dobloseven]

4 hours ago, sierraman said:

A fool and their money are easily parted. 

You must be bloody loaded, then! 

[chadders]

1 hour ago, New POD said:

£500 better off.  

If you don't know the value of your asset, and don't  have the ready cash, to preserve the asset's value, it all comes down to cash flow. 

Pay £400, or get £100 back and still have legal transport. 

Or pay £400, sell it for £2.5k (that's about the private value ?)  thus having realised £2100, then spend £200 On replacement, and now having £1900 in the bank. If only they had £400 and a basic common sense. 

Yet again I fail to follow your logic.

 

[New POD]

2 hours ago, chadders said:

Yet again I fail to follow your logic.

 

Are you deliberately being a tosser, or have your tablets been swapped by your GP and the new ones aren't as effective. 

[grogee]

I haven't read the whole thread but I've been having similar thoughts to @83C. My reasoning goes like this:

- UK desire to have new car means many are leasing their cars

- These lease deals may be 24 or 36m term, so some will have been signed before energy prices went £££

- As usual, many people have leveraged cheap credit to get themselves into new cars

- Suddenly with the household bills ballooning, consumers are going to default on credit

- First casualties will be non-essentials like leased new cars

- Glut of nearly new ex-lease cars floods the market, prices drop

Obviously this is offset by semiconductor shortage issue pushing prices up, but I think there will be a 'new equilibrium'. 

I see so many people driving around in brand new cars, that have no business being around brand new cars. Including young drivers - an old beater is a rite of passage, you don't get to swan around in a 70-plate. 

As for shiters? Purely depends on fuel prices which don't look like dropping any time soon. Loads of smoky old V8s being offloaded in ULEZ zones.  The fuel-efficient small cars will continue to be disproportionately expensive and vice-versa. 

If I had a barn and time and money and sense, I'd hoover them all up, put them in cotton wool then wheel them out in a year or two. 

[TheXUDfiles]

I have noticed an uptick in asking prices for 90s stuff but I suspect that has more to do with sellers and traders riding the current nostalgia wave than deeper economic forces, and supply and demand as stuff like 405s get rarer and rarer. 
 

Image is still king and worthless stuff will ultimately stay worthless, I predict.

Shitters like 307s which somebody has had a wee on, and e46 320is found parked in a ditch with a boot full of mould and used needles still seem to be kicking about for less than 700 sheets.  

[sierraman]

Maybe it’s indicative of how desperate people are, trading down from a known quantity to an absolute hen house. The cost of living was always destined to go up, we’ve lived in artificially cheap borrowing for many years and people in their 20’s and 30’s have figured that’s the norm but the real ‘reckoner’ will be when the fixed rate ends and the mortgage has gone up as well. Years ago the impact was much quicker, everyone was on interest only/variable rate so the payment went up immediately. The big issue is a couple in their twenties can go out and borrow the absolute maximum, in an artificially cheap borrowing arena and without the spectre of gas prices doubling. Add into that then starting a family and suddenly an income disappearing you can see the route this can take.

[Back_For_More]

 

5 hours ago, chadders said:

Yet again I fail to follow your logic.

 

500 -> they didn't have to pay 400 for the fix, sold the 1st one for 300 then bought another for 200...... 400 + 100 - no brainer.

Alternative - pay 400 out - sell for 2500 - therefore 2100 up. 200 for the replacement and that is now 1900 ......

If you were being ironic - I apologise - didn't come across in the post.

 

[chadders]

9 hours ago, New POD said:

Are you deliberately being a tosser, or have your tablets been swapped by your GP and the new ones aren't as effective. 

No, you're talking bollocks again. I deliberately highlighted this:

If you don't know the value of your asset, and don't  have the ready cash, to preserve the asset's value, it all comes down to cash flow. 

You may be able to devise a spreadsheet that shows the optimum number of Rice Krispies to have for your breakfast but finance is beyond you, as you showed few days ago with your comments about the machine justification that you were trying to do.

If being a tosser means commenting on some of the complete crap you post yes. You're using concepts that you have no idea about but think that they make you seem knowledgeable and intelligent.

[chadders]

8 hours ago, Back_For_More said:

 

500 -> they didn't have to pay 400 for the fix, sold the 1st one for 300 then bought another for 200...... 400 + 100 - no brainer.

Alternative - pay 400 out - sell for 2500 - therefore 2100 up. 200 for the replacement and that is now 1900 ......

If you were being ironic - I apologise - didn't come across in the post.

 

I wasn't being ironic, I was just commenting on the bit I've mentioned in the post above.

[New POD]

2 hours ago, chadders said:

No, you're talking bollocks again. I deliberately highlighted this:

If you don't know the value of your asset, and don't  have the ready cash, to preserve the asset's value, it all comes down to cash flow. 

You may be able to devise a spreadsheet that shows the optimum number of Rice Krispies to have for your breakfast but finance is beyond you, as you showed few days ago with your comments about the machine justification that you were trying to do.

If being a tosser means commenting on some of the complete crap you post yes. You're using concepts that you have no idea about but think that they make you seem knowledgeable and intelligent.

No you are deliverably being a tosser.  Only to me though it seems. 

[chadders]

Whatever.

 

[sierraman]

Without getting into the macroeconomics of the matter that palaver with the Fiesta is a bit daft. 

[RoverFolkUs]

I refuse to delve into the maths any further regarding that Fiesta but it doesn't take a genius to work out that scrapping a £2000 car for £300 instead of paying £400 to fix it is completely absurd and not best value for your money. 

Not forgetting the number of faults the replacement £200 Fiesta would have and need rectifying. Cant ignore the fact it will need £400 of work sooner rather than later. 

So not only have they thrown away £1300 and downgraded, they've still got a crap MK6 Fiesta that's likely to shit itself sooner rather than later, which would have been less likely with the newer, trusted MK7 Fiesta...

[RoverFolkUs]

36 minutes ago, RoverFolkUs said:

I refuse to delve into the maths any further regarding that Fiesta but it doesn't take a genius to work out that scrapping a £2000 car for £300 instead of paying £400 to fix it is completely absurd and not best value for your money. 

Not forgetting the number of faults the replacement £200 Fiesta would have and need rectifying. Cant ignore the fact it will need £400 of work sooner rather than later. 

So not only have they thrown away £1300 and downgraded, they've still got a crap MK6 Fiesta that's likely to shit itself sooner rather than later, which would have been less likely with the newer, trusted MK7 Fiesta...

https://vm.tiktok.com/ZMLbFK4De/

https://vm.tiktok.com/ZMLbYe2uQ/

Here are the videos in question...

And here is the "new" £200 Fiesta.

Oh the irony, the first MOT it had in their ownership it needed a shock absorber 🤦

Also; "exhuast system tender" - do we have a thread for best MOT advisories?! 😂

[maxxo]

I'm well in the bottom end of the French barge market, cars that weren't even desirable when new.....and I love them

I'm well aware in a few years I'll need to think of getting a new daily driver to replace the C5

The only logical thing I can see is either leasing or buying brand new, especially with the risk of big problems 

The 3-8 year old range is horrendously priced at rhe moment, in the danger zone too for problems......so yes it makes more sense really to buy or finance something new 

Especially when most used cars are being financed now

[RoverFolkUs]

On 4/19/2022 at 12:31 PM, RoverFolkUs said:

I agree! 

On the subject of crazy ideas... 

I saw a post about someone saying how "bad" their MK7 Fiesta was, total lemon, they were sold a deathtrap etc etc, all that usual crap.

It was a 2012 Titanium so probably worth 2 or 3 grand. It failed it's MOT on 2x tyres, a couple of bulbs and a shock absorber. 

Instead of spending £400 or so (max) on fixing it, they said they scrapped it, got £300 for it and bought a MK6 Fiesta off Facebook marketplace for £200 and were exclaiming to everyone how much better off they were 🤦

We've been blessed with an update:

Quelle surprise - the £200 Fiesta is fucked

https://vm.tiktok.com/ZMLnQQNNX/

"So much better off" - 🤠

[sierraman]

1 hour ago, RoverFolkUs said:

We've been blessed with an update:

Quelle surprise - the £200 Fiesta is fucked

https://vm.tiktok.com/ZMLnQQNNX/

"So much better off" - 🤠

No shit!!! Watch it be something like the coil. Just goes to show how out of their depth some people are when they start getting involved in this car trading game. 

[bangernomics]

Old ahhhhtttt yerrand

[Rocket88]

There’s still ( if you look ) decent sub £1000 stuff around, if you’re prepared to do without all the toys. Anything pre 2000 ish and without terminal termite action, and in reasonable mechanical fettle

[Datsuncog]

This cost me £975 in March.

It seems a great wee thing, but I can't help but think it would've been a £400 car a few years ago.

The paradox is that I was willing to pay a bit more because it has vastly fewer things fitted that could go wrong compared to newer/ more luxurious models.