Some used cars going up in price?

Motorcheck

Hi Guys,

Has anyone tried one of the 'cash for car' offers that seem to be everywhere at the moment? There's an article on our blog today talking about the down turn in new car registrations and the knock-on effects it will have on used car values and I was wondering what other boardies think?

"The 63% fall in car sales in 2009 is only now beginning to show its effects in the used car market. Small numbers of new cars being registered means small numbers of used cars entering the market as part exchanges which in turn contributes to a knock-on effect for the supply of used cars for years afterwards.



The benefits for sellers will be;

1. an increase in the amounts being offered as ‘Part Exchange’ against a new car purchase
2. more and more activity amongst used car dealers offering ‘Cash for Cars’
3. a premium being offered for band A or B cars in the dealer and private market.

Unfortunately for buyers this will mean;

1. greater difficulty in hunting down a bargain
2. a rise in the number of used car scams as criminals attempt to cash in on buyers desperate to find the right car."

-Corkie-

Will that mean that 08/09 cars will be worth more. I have to laugh everyone says cars are worth nothing but when you want to buy a good straight car with fsh, warranty etc you pay big bucks..:)

Drummerboy08

Yeah, used car residuals are on their way up for sure.

DonJose

Bought a second hand car last week with a list price of €8k, got it for €6k cash.

jock101

Second hand cars are going up in price all over Europe at the moment! Especially super mini's and other economical cars!

Motorcheck

I think it's the band a / b cars that are going up in price. Looks like the SUV / 4X4 stuff of the celtic tiger is still struggling though.

jock101

Unless you are minted legally or illegally. Buying anything petrol larger then 1598cc would be madness with the motortax rates here and the Fuel costs, and they are due an increase in the next budget! Hence why economical cars are rising!

voxpop

Great bargains to be had on the bigger petrol engined cars. Sold my diesel and bought a 2.5ltr petrol earlier this year - I was up 5k on the sale - so was able to pay off my loan and im still 100 euro better off a month (considering Ive now got no more loan repayments). To top that all off, I get to drive a rwd straight 6

keithclancy

jock101 wrote: »

Unless you are minted legally or illegally. Buying anything petrol larger then 1598cc would be madness with the motortax rates here and the Fuel costs, and they are due an increase in the next budget! Hence why economical cars are rising!

I really don't understand this mentality since leaving Ireland.

I think people think take is expensive becuase they can only pay it in 3/6 monthly or Annual payments, hence psychologically its alot of money.

But in all fairness an extra 600 euros per year in Road tax makes F all difference. I'd happily pay the difference for a 3.2 litre straight six than a crappy 1.6. The 3.2 Liter engine will far outlast the 1.6 as well. Plus it sounds awesome

Running on LPG of course.. Petrol here would put you in the poor house in no time.

Cyrus

jock101 wrote: »

Unless you are minted legally or illegally. Buying anything petrol larger then 1598cc would be madness with the motortax rates here and the Fuel costs, and they are due an increase in the next budget! Hence why economical cars are rising!

the mind boggles with posts like this

smash

Drummerboy08 wrote: »

Yeah, used car residuals are on their way up for sure.

Depends on the car.... there's great performance bargains out there for people that have no interest in 'saving the trees'!

CountingCrows

steve06 wrote: »

Depends on the car.... there's great performance bargains out there for people that have no interest in 'saving the trees'!

Even in the "performance market" I'm having trouble tracking down a bargain. Step up someone with a bargain well spec'd '06 Golf GTI DSG and I'll take it!

smash

CountingCrows wrote: »

Even in the "performance market" I'm having trouble tracking down a bargain. Step up someone with a bargain well spec'd '06 Golf GTI DSG and I'll take it!

I said performance...

But seriously, I'm talking 2nd hand Porsche, Lotus, Ferrari - they're selling for peanuts!

Anan1

steve06 wrote: »

Depends on the car.... there's great performance bargains out there for people that have no interest in 'saving the trees'!

Look after a powerful car that's already been built and don't do too much mileage and you are saving the trees.

smash

Anan1 wrote: »

Look after a powerful car that's already been built and don't do too much mileage and you are saving the trees.

I'd like to subscribe to your newsletter!

But you're right, doing low mileage in a 6yr old M3 is more beneficial than driving 15k a year in a brand new Prius.

I have had only one dude look at my 1993 E34 touring

SV

jock101 wrote: »

Unless you are minted legally or illegally. Buying anything petrol larger then 1598cc would be madness with the motortax rates here and the Fuel costs, and they are due an increase in the next budget! Hence why economical cars are rising!

Can you please leave the motors forum and never come back?

EPM

jock101 wrote: »

Unless you are minted legally or illegally. Buying anything petrol larger then 1598cc would be madness with the motortax rates here and the Fuel costs, and they are due an increase in the next budget! Hence why economical cars are rising!

I can get better mpg out of my dads 2 litre petrol than I can out of my own 1.6 petrol. His car is much bigger than mine too. Thank God for narrow minded individuals like yourself. Means there's more bargains out there:D

bazz26

Helped buy a one owner 08 Fiesta 1.25 litre with 18k km from a main dealer for my sister last week, it was advertised at €9250, bought it for €7600 straight. Sticker price was probably a bit on the hight side but still thought we got a good deal.

Straight deals are king, having a trade-in is a major handicap from my experience and I cannot see garages giving better .

itarumaa

if the insurance is no problem, the best buy in Ireland for money wise is old, 2l petrol car:)

You can get it under 1k, no loans, no actual problem of losing money, if you would lose 50% of the value of the car in 2 years time, well if the price of buying would be 800e, you would only loose 400e, 200e in a year, 17e in a month:)

Even roadtax is not that an issue when you compare the whole cost.

There is no point to buy expensive car using loan, and then think you drive cheaply because it is so economical.

You can easily loose 300-400e in a month when having a new economy box when loan and drop of value of the car is considered.

Tragedy

Used car prices as a whole fell in the UK over the last 2 months.