Car Values

[MacRS200]

Been reading the Supra/Skyline thread on here and not wanting to go well off topic I posted this.

Values are falling and I think that this is a general thing, as some of you know I have been trying to flog the Mrs Pug for months now with no luck or even interest. Absolutely immaculate, 25K miles, still under warranty, 6 seats and over 30 to the gallon, good family car you would think.

Spent over £400 advertising it, and during the time it was up for sale (about 5 months) the book value for the car in AVERAGE condition fell from £9k to £7k. Ended up sticking it in the auction just to get shot, cheque arrived this morning £4,750 (£5,250 under the hammer)

So that's £4k less than I thought I could sell it for and a cost of £5.5k for a year and 5k miles. Suppose the moral is make sure you sell your current car before you buy a new one at what seems like a bargain price, yours might not be worth what you think.

[Lex-aholic]

4 grand less ?? That's bad news mate.

Lesson to learn - don't buy French cars !

[Fidgits]

the thing is - britians are in the largest amount of debt ever - and its gotten to the point where people are suddenly starting to struggle...

So their spending slows - you can see this if you keep up with the high street retailers quarterly reports - they've seen spending dropping constantly for the last 12 months.

Of all spending the car is the biggest expenditure - and the first thing - people will 'make do' with what they have when 2 years ago they would have bought the latest model etc...

If you look around the car industry in general, you will see manufacturers are suffering and struggling to shift used cars as well as new ones.

Especially with the price of fuel, high end cars (like Supras etc) are even harder to sell, so if your looking for something a bit thirsty, you could really get a bargin if your prepared to haggle hard...

[MacRS200]

Lesson to learn - don't buy French cars !

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Thing is we flogged a perfectly good diesel Focus to buy the pug cos the Mrs wanted a bigger car with more seats, then after 5 months she decided she didn't like it and wanted an Audi! Talked her out of it by getting the Tezza and giving her the IS. Thought I could get 9 for the Pug, oh well just have to stop modding for a while

If you look around the car industry in general, you will see manufacturers are suffering and struggling to shift used cars as well as new ones.

Especially with the price of fuel, high end cars (like Supras etc) are even harder to sell, so if your looking for something a bit thirsty, you could really get a bargin if your prepared to haggle hard...

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Yup absolutely, look at the deals on new cars at the moment, the whole car market is totally b*lloxed.

Point I was making though, is make sure you sell your current car first so you know exactly how much cash you can bank from it. It could be worth half of what you think it is.

[Fidgits]

yep - thats it.

I found a great car, but i know i'll struggle to sell mine privately, so im not even bothering to go have a look...

[dangerous brain]

Makes me wonder if its worth my while taking a PX on mine. I'd kind of still do it if the difference in values ie the cash in the deal was enough just to get my cash flow in the right direction.

[chips229]

the thing is - britians are in the largest amount of debt ever - and its gotten to the point where people are suddenly starting to struggle...

So their spending slows - you can see this if you keep up with the high street retailers quarterly reports - they've seen spending dropping constantly for the last 12 months.

Of all spending the car is the biggest expenditure - and the first thing - people will 'make do' with what they have when 2 years ago they would have bought the latest model etc...

If you look around the car industry in general, you will see manufacturers are suffering and struggling to shift used cars as well as new ones.

Especially with the price of fuel, high end cars (like Supras etc) are even harder to sell, so if your looking for something a bit thirsty, you could really get a bargin if your prepared to haggle hard...

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Well said :)

Took me over 6 months to sale my LS400,that was at the start of this year.I really had to give it away in the end...got fed up with it hanging about.

I think theres worst to come,if the interest rates start to go up a little things will get tricky for all those who re mortgages there houses

[dangerous brain]

So I should have waited another few months til i bought another car lol. All I will say is watch the scrappies fill up like its going out of fashion the way its going. Its getting so bad it'll be cheaper to buy a newer car than bother to mot your own when its more than 5 years old