Is my car overpriced??

John2009

Hi everyone i've my car up on Dondeal nearly 4 days and i havent even had as much as one call, text or email about it, not even our Nigerian friends are interested in it, is it overpriced for what it is.

Thanks

http://cars.donedeal.ie/cars-for-sale/for-sale-lovely-2002-renault-megane/6536523

whippet

i'd say the bigger problem is that it isn't all that desirable. 12 year old french hatch with >150k miles on the clock.

if anyone was interested that would make contact, value wise i'd expect that it would be worth no more than €1000.

bbam

Yes.
€7-800 would be more realistic.

Milage isn't crazy for it's age but it's too much milage for the money.

If you were selling a low milage mint example I could see you looking that sort of money. But your not.

mgbgt1978

A quick look at DD would suggest an asking price of €1,200 to €1,300 max.
A couple are around your asking price (excluding scenic's and convertibles) but most are either side of €1,000.

John2009

Jaysus for what ye are saying its valued at i spent that on it the last 4 months or so, guess i'll leave it up awhile and shrr keep on driving it till it breaks, not spending anymore on it only servicing, nct and tax when they're due

Supergurrier

Alot better out there for 1500.

Try 900-1100

bazz26

Just a few things I would like to note:

1. The asking price is not a million miles off. But I think the car is worth about €1000/1100 so initially asking €1500 is reasonable as it allows you to drop the price gradually and allow for haggling down to it's actual selling price. Unfortunately what you spent on maintenance lately has little bearing on it's worth which is pretty much set. It might make it easier to sell however.

2. You only have the advert up 4 days, you need to be patient as it can take ages to find the right buyer. If you want it gone quickly then you have to price it aggressively. If you are not under pressure to sell then you can afford to drop the asking price gradually.

3. To the Irish motorist anything over 1.6 to tax especially the size of a Megane is deemed too expensive so this limits your buying audience.

4. Renault Meganes do not have a great reputation with the buying public and diesel Renaults of this vintage are generally an unknown entity with Joe Public.

So to summarize, I would sit tight for a week or two and then drop to €1395 and see if you get any interest and would accept any offer of €1k or more.

John2009

Thanks for the detailed reply Bazz, gonna hold tough so awhile and see what happens, the mileage isn't that crazy for a diesel is it

MuppetCheck

How much did it set you back 4 months ago?

bazz26

For a 12 year old diesel car it is not but the mentality among your average Irish Joe is that anything over 100k miles is ready to implode.

John2009

MuppetCheck wrote: »

How much did it set you back 4 months ago?

I bought it in Galway for €950

YbFocus

John2009 wrote: »

I bought it in Galway for €950

Am I missing something? Put it up for 1100 then and let it go for your 950 again.
4 months free motoring.

justsomebloke

Truthfully you are up against volvos, passats, 407s, modeos and vectra of the same age and mileage and most of them would be more popular cars especially against an older style megane so it may be hard to shift at that price

bazz26

OP, I doubt very much you will make any money from that car when you consider what you paid for it and spent on it since.

CiniO

John2009 wrote: »

Hi everyone i've my car up on Dondeal nearly 4 days and i havent even had as much as one call, text or email about it, not even our Nigerian friends are interested in it, is it overpriced for what it is.

Thanks

http://cars.donedeal.ie/cars-for-sale/for-sale-lovely-2002-renault-megane/6536523

I put my car up donedeal about a year ago, and I didn't have a single call, text or email for 5 months.
And my car was not overpriced.
So it seems normal.

Aint Eazy Being Cheezy

bazz26 wrote: »

OP, I doubt very much you will make any money from that car when you consider what you paid for it and spent on it since.

This. In truth the car hasn't been very good to you in four months of ownership, and the best way to make some money back would be to keep driving it.

Failing that just cut your losses and price it as others have said, around the 1100 mark.

djimi

CiniO wrote: »

I put my car up donedeal about a year ago, and I didn't have a single call, text or email for 5 months.
And my car was not overpriced.
So it seems normal.

Unless it is something exceptionally rare, a car that is up on DD for 5 months without a single call is overpriced.

bbam

Unless someone is out to specifically get a 12 year old Renault there are far more desirable cars for sale for €1500.

OP can't expect to Get back the money spent since buying it.

€800 tops is it's value.

djimi

John2009 wrote: »

I bought it in Galway for €950

If you bought it for €950 and the average price for them on DD is about a grand to €1200 then I would suggest that you are wasting your time advertising it for €1500 as people are likely going to just skip over it.

CiniO

djimi wrote: »

Unless it is something exceptionally rare, a car that is up on DD for 5 months without a single call is overpriced.

It was last year.
Car was 04 Mazda 6 2.0 petrol.
While initially I priced it rather high, but I kept lowering the price, and for last few months, it was among the cheapest ones on donedeal.
Still nothing - no calls, no interest at all.

Eventually someone on adverts asked few questions, came over from other side of the country and bought it.
But for 5 months of adverising I got nothing before that.

seosamh1980

Why are you selling it after 4 months? I actually know somebody looking for a car exactly like that but 1.6 petrol, it would be off putting to her that you have only kept it 4 months. Nobody buys that type of car at that age to do it up and sell at a profit, so she would assume there was something wrong with it that you're not telling.

JohnBoy26

For the money and work you put into it you would be better off keeping it and getting your value out of it.

John2009

seosamh1980 wrote: »

Why are you selling it after 4 months? I actually know somebody looking for a car exactly like that but 1.6 petrol, it would be off putting to her that you have only kept it 4 months. Nobody buys that type of car at that age to do it up and sell at a profit, so she would assume there was something wrong with it that you're not telling.

There is absolutely nothing wrong with the car, any mechanic is more than welcome to the car for an hour and do there thing, throw it up on the lift etc,

I suppose I did waste abit of money in doing what I did but the car needed what it needed and got it,

Looking for a change really, call me mad but I'm bored of it,

I'll more than likely now keep hold of it for another while and at least get some mileage out of the new parts fitted

bazz26

Yeah, I'd get some value out of what you have spent. It will not depreciate a whole lot over another 6 months or so.

NobodyImportant

Seems a grand car, good ad, if a little pricey (but may be worth a small premium over others given the amount spent).

There is plenty to choose from in the €1,500 range, just be patient and consider running it into the ground.

MuppetCheck

If you paid €950 for it. You put a few quid into it to keep it on the road. If it was that bad you may have over paid to begin with.

I'd be sticking it up for €1200, taking out the 110% bit (I ignore ads with that thing), and being happy to get anything over what was paid. Just because the others are up for the same money doesn't mean they're getting that either.

beauf

CiniO wrote: »

It was last year.
Car was 04 Mazda 6 2.0 petrol.
While initially I priced it rather high, but I kept lowering the price, and for last few months, it was among the cheapest ones on donedeal.
Still nothing - no calls, no interest at all.

Eventually someone on adverts asked few questions, came over from other side of the country and bought it.
But for 5 months of adverising I got nothing before that.

I found this one with an astra diesel. Put it in the paper and it sold almost immediately. My conclusion was that the target market wasn't on the web.

BMJD

My initial reaction to your ad would be along the lines of "if he spent that much on it then why would he be selling it now, after just 4 months?"

Timing belt, water pump, alternator belt and fuel filter recently changed

Fully serviced before Xmas

Comes with part service history upto 95500 miles

New Sachs front shocks and springs

New Boge rear shocks

New rear axle bushings

New front anti roll bar link's plus bushings

New TRW Brake discs and pads plus brake fluid renewal

New rear brake hubs

New wind deflectors

New tailored car mats

New 6000K HIDs in dipped plus main beam

New Osram Nightbreaker Plus in front foglights

djimi

BMJD wrote: »

My initial reaction to your ad would be along the lines of "if he spent that much on it then why would he be selling it now, after just 4 months?"

Inclined to agree. Some people just want a change of course, but it seems strange to me to buy a car for €950, put as much again into fixing it and then sell it on a few months later at a loss.

John2009

Think I know now never to buy a cheap Renault and pump loads of money into it, lesson learned ðŸ˜႒

toyotaavensis

A few comments on your ad (these are suggestions not orders):
1 I like your photos
2 Delete 110% makes me think there is something wrong with it and your overcompensating
3 Delete part service history up to 60000 miles ago as this doesnt help your case
4 Delete that you have only owned the car for 4 months
5 Also mention in the ad roughly where the car is as Co. Cork is quite big. I live in Co. Cork but parts of Beara are 3 hours away and for me Dublin is 2 and a half hours away.

ironclaw

Latest data I have to hand for the Renault Megane (2002) is an average asking price of €1390 with that reducing to €1300 in the private sector of the market. Average is 106,900 miles. That comes from a data set of 54 cars to give you an idea of the market size.

So as previously said, you'd want to be asking €1300 at most (Less because of your mileage) and be willing to accept (I generally say) 20% off that, so €1000 cash in hand.

toyotaavensis

to be fair most meganes are petrol and she is diesel

Greyfoot

The list you said was changed were new when? A good overall decent, recent service can raise the value of an older otherwise ****e box model. especially with clean and tidy interior.

ironclaw

toyotaavensis wrote: »

to be fair most meganes are petrol and she is diesel

I've done a massive amount of number crunch on the car market recently, and whilst I agree different fuel types will attract different prices, as you go back the years i.e. 10 years or greater, for most standard cars your talking negligible difference.

For instance, the most common car on sale in Ireland at present is the 2010 1.6 Diesel Focus at an average of €11,700 (Over 200 cars) The petrol, of which there is 4 in Ireland in my data set, is averaging €12,200.

Go back to 2005, and the 1.4 Petrol Focus is averaging €4373, whilst the Diesel 1.6 is €4354. So you have well and truly levelled out.

I might actually put together a few stats and throw them up. Its very interesting.

road_high

JohnBoy26 wrote: »

For the money and work you put into it you would be better off keeping it and getting your value out of it.

This was my first thought too. "She's worth more to you than she is to someone else" adage rings true.