Car values in the new year

the goon

Hi just hoping for some opinions on how much the price of lets say an 09 car would drop from its current price once we enter the new year. I know this is a bit of a "how long is piece of string" question, its just having sold my car this week. I am wondering if I should try and hold off till the new year to get a bit of better value.

While it would be awkward, we have the use of various family members cars which could get us through til then. To be abit more specific, I was thinking about trying for an 09 Octavia estate,or Superb or if lucky, an 09 Accord. Budget all in without anything left in the pot would be 14000.

Any advice much appreciated

bazz26

Nobody knows until the Budget is announced next month as changes in motor tax rates and VRT brackets have a direct influence on the second hand car market here. The last time the Greens thinkered with the Motor Tax/VRT system it had deprimental effects on resale values of used cars.

But in general I'd imagine any trade in price you get from a garage for your car now will most likely be close to what a garage would expect to buy your car for in January.

Vicxas

bazz26 wrote: »

Nobody knows until the Budget is announced next month as changes in motor tax rates and VRT brackets have a direct influence on the second hand car market here. The last time the Greens thinkered with the Motor Tax/VRT system it had deprimental effects on resale values of used cars.

But in general I'd imagine any trade in price you get from a garage for your car now will most likely be close to what a garage would expect to buy your car for in January.

Please god tell me they're not messing with car tax again this year

Drummerboy08

Used cars dont really drop come the turn of midnight on Jan 1st!

Chances are most cars on forecourts around the country are priced now as they will be in January.

I'd just buy now, you won't save a whole lot, and you don't have the hassle of using relative's cars.

This is all based on the boys in Leinster House not doing anything mental though...

lifer_sean

In my experience, car prices usually dip for November / December because there are few buyers around, and some dealers will drop prices to clear out stock ready for January trade-ins (ie dealers selling new cars).

Typically secondhand sales pick up in January and February. Demand exceeds supply and prices hold up. On the wholesale market I have often bought cars in December for lower prices than the same stock will make in January.

I'd buy now if the car was right and the price was right.

the goon

Thanks for the advice. It makes a lot of sense. I think I will start looking now and hold out for the budget before buying.

Saab Ed

There's a strong chance that there'll be no drop in used car values next year. Infact, like 2012, some prices might actually go up next year. Mad!

Atlantic Dawn

January could be a good or bad time to buy, depends on the dealer and whether they have a large amount of trade ins taken on new cars that the need to offload or if they made plenty of cash on the new cars and can afford to hold the 2nd hand stock for a couple months. A Lot of people in the past kept cars 3 years and then bought new, not sure how many are still doing this.