Is there a market for cars over 10 years old?

silent_spark

I've been trying to sell my car since March - an 05 Corolla Terra with 192,000km on the clock. There's been little interest (no viewings!) and I've already reduced the price massively (based only on current asking prices online - I haven't sought professional advice on pricing). Anyway, because of the lack of interest, I'm presuming it's still over priced (as it's in good condition, no dings, decent photos on the ad etc).

So - question is - is there any market for cars of this vintage and size (1.4ltr), particularly given the recent change in insurers rules on covering older cars? I imagine smaller 1ltr cars will still have a market in the learner driver category, but is anything else doomed to flounder in the market?

punisher5112

Post up a link. Can tell you if needs changing.

millington

Insurance situation has affected it drastically but E12 Corollas are usually good little sellers TBH

Indricotherium

silent_spark wrote: »

I've been trying to sell my car since March - an 05 Corolla Terra with 192,000km on the clock. There's been little interest (no viewings!) and I've already reduced the price massively (based only on current asking prices online - I haven't sought professional advice on pricing). Anyway, because of the lack of interest, I'm presuming it's still over priced (as it's in good condition, no dings, decent photos on the ad etc).

So - question is - is there any market for cars of this vintage and size (1.4ltr), particularly given the recent change in insurers rules on covering older cars? I imagine smaller 1ltr cars will still have a market in the learner driver category, but is anything else doomed to flounder in the market?

The popo getting serious about unaccompanied learner drivers has demolished this segment of the market I'd say.

Every car I see with an L plate these days is defo belonging to mammy/daddy.

ted1

192km is the problem

punisher5112

ted1 wrote: »

192km is the problem

How that's low

ted1

punisher5112 wrote: »

How that's low

It's not really but it is at the stage when faults start occurring.

biko

Insurers are killing a lot of the old bangernomics with their age policies.
2005 should still be good but people may look at newer cars with better tax rates.

There is no best way, just have a great advert and a great price and hopefully someone will be interested.

realdanbreen

I rarely drive cars that are less tham 10 years old. At present I have a 02 Passat 130bhp, 180k on clock TDI an absolute cracker of a car.

PukkaStukka

realdanbreen wrote: »

I rarely drive cars that are less tham 10 years old. At present I have a 02 Passat 130bhp, 180k on clock TDI an absolute cracker of a car.

Same here. I'm driving a 2003 Stilo with very low miles on it and absolutely nothing wrong. I'd be loathe to get rid of it just because insurance gets expensive. Depreciation on a newer car would be far more expensive.

silent_spark

From my perspective, the car is running really well, and it's relatively modern looking (the older model Corollas show their age more I think). I wouldn't even be selling it only I've moved to the city centre, have no designated parking space and commute to work by bus. I looked at the cost of renting a car on the rare occasion I'd need it, and it comes in at less than the cost of running the car for a year, not even including depreciation. I tried to give it to a relative, but they're attached to their (even older) car. Are we going to end up with a load of 10 years plus cars being scrapped for no reason other than these insurance rules?

Vic_08

silent_spark wrote: »

From my perspective, the car is running really well, and it's relatively modern looking (the older model Corollas show their age more I think). I wouldn't even be selling it only I've moved to the city centre, have no designated parking space and commute to work by bus. I looked at the cost of renting a car on the rare occasion I'd need it, and it comes in at less than the cost of running the car for a year, not even including depreciation. I tried to give it to a relative, but they're attached to their (even older) car. Are we going to end up with a load of 10 years plus cars being scrapped for no reason other than these insurance rules?

You still haven't put up a link or said what you are asking for it.

As above I would expect a Corolla to shift easily enough although a lot of people would look at the mileage and shy away. If it is priced sensibly and advertised properly then it should sell.

millington

ted1 wrote: »

192km is the problem

It's perfectly normal milage for the age of the car

Dord

Post a link up. Family member sold an '02 Stilo recently in about 2 days. Price and presentation matters!

ted1

millington wrote: »

It's perfectly normal milage for the age of the car

Doesn't make it desirable. The fact is you can expect to pump money into it once it hits that mileage

Toyotafanboi

ted1 wrote: »

Doesn't make it desirable. The fact is you can expect to pump money into it once it hits that mileage

Those Corollas have relatively simple suspension and chain driven engines. Chances are if it passes a basic inspection it'l keep going and going for very little investment. That's why people like them.

I'm assuming this car is a saloon OP?

punisher5112

ted1 wrote: »

Doesn't make it desirable. The fact is you can expect to pump money into it once it hits that mileage

Any car with high or low mileage may need expensive repairs all depends on how car was looked after.

That mileage is nothing for a toyota

colm_mcm

The price is the deciding factor.

bazz26

192k km is not high mileage for an 11 year old car especially a Corolla of that vintage. However as shown in this thread there are some people out there who fear when this sort of mileage milestone is reached that cars suddenly start to implode. Yes parts wear out on 11 year old cars but not to say they are all money pits at that age.

Also Corollas are not that hard to sell no matter what age they are. It's very hard to say why this particular one is not selling without having more details or seeing the advert but reasons that come to mind are - pricing, advert presentation and or general condition.

realdanbreen

silent_spark wrote: »

From my perspective, the car is running really well, and it's relatively modern looking (the older model Corollas show their age more I think). I wouldn't even be selling it only I've moved to the city centre, have no designated parking space and commute to work by bus. I looked at the cost of renting a car on the rare occasion I'd need it, and it comes in at less than the cost of running the car for a year, not even including depreciation. I tried to give it to a relative, but they're attached to their (even older) car. Are we going to end up with a load of 10 years plus cars being scrapped for no reason other than these insurance rules?

Don't ever be afraid to take on the insurers. They tried to fleece me on my 02 car and I threatened to get everyone I knew to switch from them, and I would have. They came back with a quote that was 12e dearer than last year.

selectamatic

As said a 05 corolla with 190km is nothing to worry about, post 04 saw any oil burning issues done away with too. I sold a 05 saloon (assuming your car is a saloon as they are less desirable so may account for it not selling) two years ago for 3700 the car was very clean same family since new and had the all important sub 100k miles people tend to look for when buying small cc petrol cars. I felt the price I got was the top end of what a private seller could expect to get. I put it up for €4k had the car well presented and a good add emphasising how the car had been in the same locality from new and well maintained. Long story short the car sold after 3 days to the first viewer who was from the same county. The price of such cars has in my opinion fallen to around the 2k mark so if you're a good bit above this I'd imagine that's the main issue.

Chris_Heilong

Age is not a problem but mileage would be a factor for me, All my cars have always been over 10 years old but I would expect 140k to be the highest acceptable mileage if I was buying unless we are talking a very low price like in the 800-900 euro range.

silent_spark

I can't post links. I've it priced at €2,200 at the moment. It's on Done Deal, listed in Louth if anyone is that way inclined.

OldMrBrennan83

This post has been deleted.

MiskyBoyy

OP's car: https://www.donedeal.ie/cars-for-sale/toyota-corolla/11848020

PLL

I'm actually looking for an old car but that's a little out of my price range (yes, I'm that broke) however if I had 2 grand I'd be paying you a visit. Really nice car.

To answer your original question... Yes there will always be a need for cheap old cars in my opinion. Can't get a quote on anything below a '03 though.

colm_mcm

List the miles rather than the kms. People are funny.
If you put it up for €1999 you'll get all the people who are filtering out cars over €2k.
Pictures aren't too bad.
Wouldn't be any harm listing the standard equipment, even though there's nothing stand-out in there, it just looks a bit better,

Electric Windows
Electric mirrors
Remote central locking
Front and side airbags
Passenger airbag deactivation switch
CD player with MP3
Colour coded mirrors, handles and bumpers
ABS with EBD
ISOFIX mountings for child's seats
Timing chain, so no timing belt to worry about.
Taxed till July

silent_spark

colm_mcm wrote: »

List the miles rather than the kms. People are funny.
If you put it up for €1999 you'll get all the people who are filtering out cars over €2k.
Pictures aren't too bad.
Wouldn't be any harm listing the standard equipment, even though there's nothing stand-out in there, it just looks a bit better,

Electric Windows
Electric mirrors
Remote central locking
Front and side airbags
Passenger airbag deactivation switch
CD player with MP3
Colour coded mirrors, handles and bumpers
ABS with EBD
ISOFIX mountings for child's seats
Timing chain, so no timing belt to worry about.
Taxed till July

Thank you, I'll update the ad with those details.

screamer

I don't think there is a market for 10 year old cars or older. They are becoming uninsurable and soon will be totally uninsurable, or just extortionate to insure. It will have a knock on effect as cars that are 5 years old will not be worth paying ridiculous money for, with a 5 year lifespan left. It is a pity as there are some really good older cars out there that are far better than the plastic crap cars they are pumping out these days.
OP if you manage to sell it, take whatever you can get for it, as a lot of insurance companies will not quote for a 10 year old car unless the owner has had it for some time before it turned 10 years old, and yours is already 11.

punisher5112

It's only a few insurance companies and that car is well worth 2k.

Toyota will sell regardless.

I only sold Yaris recently but did take quite some time it's just a waiting game.

I have sold cars withing minutes of advertising and some took up to 6 months.

almostover

screamer wrote: »

I don't think there is a market for 10 year old cars or older. They are becoming uninsurable and soon will be totally uninsurable, or just extortionate to insure. It will have a knock on effect as cars that are 5 years old will not be worth paying ridiculous money for, with a 5 year lifespan left. It is a pity as there are some really good older cars out there that are far better than the plastic crap cars they are pumping out these days.
OP if you manage to sell it, take whatever you can get for it, as a lot of insurance companies will not quote for a 10 year old car unless the owner has had it for some time before it turned 10 years old, and yours is already 11.

It's a disgraceful situation really. The car listed in the advert here looks a fine car. Would be an ideal car for a young person or as a second car for a family. Cheap to tax, relatively economical and a bullet proof engine. Service it regularly and it would do another 192k km at it's ease. I'd hazard a guess that this 15 year old uninsurable malarkey is somehow connected with an overall effort by the car industry to get people to buy new. An you'll have the environmental crowd blabbering on that new cars pollute the atmosphere less. They do but I'd hazard a guess that the pollution output during the manufacture of a new car is far more than the pollution that would be saved over driving a new car vs a 10 year old car.

millington

ted1 wrote: »

Doesn't make it desirable. The fact is you can expect to pump money into it once it hits that mileage

Then why would you be considering a cheap 11 year old car if thats what you're worried about? I really don't know how 119,000 miles can be considered "high" on an 11 year old Toyota.

Dravokivich

screamer wrote: »

I don't think there is a market for 10 year old cars or older. They are becoming uninsurable and soon will be totally uninsurable, or just extortionate to insure. It will have a knock on effect as cars that are 5 years old will not be worth paying ridiculous money for, with a 5 year lifespan left. It is a pity as there are some really good older cars out there that are far better than the plastic crap cars they are pumping out these days.
OP if you manage to sell it, take whatever you can get for it, as a lot of insurance companies will not quote for a 10 year old car unless the owner has had it for some time before it turned 10 years old, and yours is already 11.

ehm... try saying that here.

I can't afford anything younger than 10 years and I'm going to need a car real soon. I'm not the only one in this position. I'm not going to saddle myself up with debt just because the insurers don't take care of their business properly.

savagethegoat

I tried to sell a similar 06 last year, got no enquires at all and eventually got more than the asking price trading it in.

Wibbs

almostover wrote: »

It's a disgraceful situation really. The car listed in the advert here looks a fine car. Would be an ideal car for a young person or as a second car for a family. Cheap to tax, relatively economical and a bullet proof engine. Service it regularly and it would do another 192k km at it's ease. I'd hazard a guess that this 15 year old uninsurable malarkey is somehow connected with an overall effort by the car industry to get people to buy new. An you'll have the environmental crowd blabbering on that new cars pollute the atmosphere less. They do but I'd hazard a guess that the pollution output during the manufacture of a new car is far more than the pollution that would be saved over driving a new car vs a 10 year old car.

Quoted for truth. It certainly does smack of a push to revive a section of the economy alright. Japan does similar with extra taxes, higher insurance and increasingly expensive annual car tests, but they at least have a huge motor manufacturing industry to protect. Like you I don't buy the "green" excuse either. Sure, if we're talking about hybrids, but don't tell me some new 3 litre diesel is less polluting than a 15 year old 1 litre Starlet.

Senecio

Japan also has the added benefit of having created an alternative economy by exporting their grey exports to the likes of Australia and New Zealand. However it's getting more difficult to import into Australia but the Kiwi's love a Japanese import.

cruizer101

Wibbs wrote: »

they at least have a huge motor manufacturing industry to protect

This, so much f**king this, I hate how they go on about car dealerships like they are a motor industry, they are not, they are a sales industry the same as Pennies or Power City and sales industry for other types of goods.

If we really wanted to support our motor industry we should be encouraging keeping cars running longer and longer our motor industry is our mechanics and possibly some manufacturing companies making spare parts (I know we used to have some not sure if still do).

Back to thread issue though, looks like a good ad to me and great solid clean car. You could maybe consider getting a fresh NCT, rules have changed in past year so you can do it anytime of year, if before 3 months you get a year from date done. If you are confident will pass might be worth the 50 quid.
Best of luck with sale anyway.

Alanstrainor

savagethegoat wrote: »

I tried to sell a similar 06 last year, got no enquires at all and eventually got more than the asking price trading it in.

You have to take into account that if you walked into that dealership with cash in hand, you would have gotten a good discount too. So saying you got more than asking isn't really relative.

Del2005

Senecio wrote: »

Japan also has the added benefit of having created an alternative economy by exporting their grey exports to the likes of Australia and New Zealand. However it's getting more difficult to import into Australia but the Kiwi's love a Japanese import.

They had a good run selling to us also. Shame our insurance companies are killing that option to.

savagethegoat

Alanstrainor wrote: »

You have to take into account that if you walked into that dealership with cash in hand, you would have gotten a good discount too. So saying you got more than asking isn't really relative.

How would I walk in with cash when no one wanted to buy it or even view it?

colm_mcm

As an example.

You were asking 3k for your car
You were buying a new car for 23500
Garage gave you car for 20,000 with your car
You effectively got €3500 for your car.

Garage could have sold new car with no trade in for €21,000
You effectively got €1000 for your car.

(Not actual figures of course)

daRobot

What's a true disgrace in this situation, is that the insurance industry lobbied so hard to get the NCT in the first place, as obviously a standardized test drastically reduces their risk profile.

And once they get it, they wait a while and then start massively loading on older cars.

kerten

If you have means to meet with buyers in Dublin, I would change location to Dublin to not to be filtered out from location based searches.

pcardin

bazz26 wrote: »

192k km is not high mileage for an 11 year old car especially a Corolla of that vintage. However as shown in this thread there are some people out there who fear when this sort of mileage milestone is reached that cars suddenly start to implode. Yes parts wear out on 11 year old cars but not to say they are all money pits at that age.

You're right. There are so many misinformed people around who literary know nothing about cars but actively spread these horror stories. It keeps pricing of second hand cars down. Good for buyers, not so for sellers.

They are usually the same folk that would tell you that Alpha Romero is a sh1te car and Volkswagon Daysul that pulls like train and is bulletproof is the indestructable one to go for

CorkMan_

I have a 2000 Audi A4 that'll be up for sale in the next week. To say I'm not too optimistic about selling it is an understatement. Go to Europe and older cars are the norm. Tis a joke the way it's gone here. It's an excellent car with a lot of work done to it the last year but a car I've always wanted came up for sale so I took it. Otherwise the Audi would still be driven.

Squidgy Black

CorkMan_ wrote: »

I have a 2000 Audi A4 that'll be up for sale in the next week. To say I'm not too optimistic about selling it is an understatement. Go to Europe and older cars are the norm. Tis a joke the way it's gone here. It's an excellent car with a lot of work done to it the last year but a car I've always wanted came up for sale so I took it. Otherwise the Audi would still be driven.

Is it a B6 or a B5 body shape? If it's a B6 you could get lucky as all the boy racers are made about them these days particularly if it's a tdi.

If it's a B5 then you could be in for heartbreak.

Special Circumstances

_Tyrrell_ wrote: »

Is it a B6 or a B5 body shape? If it's a B6 you could get lucky as all the boy racers are made about them these days particularly if it's a tdi.

If it's a B5 then you could be in for heartbreak.

You'll be in for the heartbreak when the over-sensitive fanboys throw a wobbler over a perfectly legitimate observation :D

Titzon Toast

pcardin wrote: »

You're right. There are so many misinformed people around who literary know nothing about cars but actively spread these horror stories. It keeps pricing of second hand cars down. Good for buyers, not so for sellers.

They are usually the same folk that would tell you that Alpha Romero is a sh1te car and Volkswagon Daysul that pulls like train and is bulletproof is the indestructable one to go for

I agree with most of that, but you're not gonna try and tell me that Alpha's are reliable are you?!
Would you recommend a used one to a family member or friend?
Don't get me wrong, I'm a fan of them, but they're very badly put together.

_Kaiser_

savagethegoat wrote: »

How would I walk in with cash when no one wanted to buy it or even view it?

This will cheer you up.

I currently drive a 2005 3L TDI Audi A6 with 227000 km on the clock! Imagine how much interest that will get from the "low tax/100k+ is instant deathtrap" brigade!

Never mind that it has only 1 previous owner, is well looked after and running perfectly. Never mind that it has a fantastic spec and is economical enough that even with a heavy foot it'll do 900km of motorway miles to a tank.

I fully expect to get buttons for it when it comes to trading it in next year, and I certainly won't be able to get anything similar with the way the age limits on insurance is going.

ba_barabus

Titzon Toast wrote: »

I agree with most of that, but you're not gonna try and tell me that Alpha's are reliable are you?!
Would you recommend a used one to a family member or friend?
Don't get me wrong, I'm a fan of them, but they're very badly put together.

Aye Alpha's are ****e. Greek rubbish.

I would however recommend an Alfa Romeo as a reliable alternative to a VW Pisshat speaking from experience.

Indricotherium

_Kaiser_ wrote: »

This will cheer you up.

I currently drive a 2005 3L TDI Audi A6 with 227000 km on the clock! Imagine how much interest that will get from the "low tax/100k+ is instant deathtrap" brigade!

.

I think you're probably out the other end of the low tax doesn't save much argument there with the 3 litre to be fair.