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January price drop?

  • 05-01-2018 9:01am
    #1
    rafatoni
    Registered Users, Registered Users 2 Posts: 469 ✭✭


    Folks,

    Have been looking at buying a 161 reg car, been browsing since October/ November. Spec and Mileage I am looking at still hasn't gone down in price and are roughly still the same now we are in 2018 for very similar make/model/spec... Would have thought they would have gone down.

    Any of you car gurus know when garages start knocking a few quid of their current prices for 161 range or is this something that does not happen in January as people are looking to trade up etc?

    Any info would be great.

    Cheers


Comments

  • #2
    JoeA3
    Registered Users, Registered Users 2 Posts: 7,470 ✭✭✭JoeA3


    Well for starters, dealers can be very slow to update their ads (assuming its Carzone / DoneDeal you're browsing).

    And it's not like prices suddenly drop 5k at the turn of the new year. It would depend very much on the particular car, it's likely level of demand, its condition, mileage, etc. The dealer might see the asking price it had in November is still a fair price for it today - assuming it sells soon.

    Best bet is to actually pick out a couple of cars you're keen on (especially if its a car you know they've had a couple of months) and go talk to the dealers, the sticker price may have a fair bit of room for movement.


  • #3
    bazz26
    Registered Users, Registered Users 2 Posts: 51,364 ✭✭✭✭bazz26


    There seems to be an urban myth that prices of second hand cars drop dramatically on the first day or week of January every year. That's not the case for the most part.

    Any trade-ins taken in now for new cars would have been valued at 2018 rates when the previous owner done the deal with the dealer before the turn of the year. So that means the dealers will have allowed for the change in year already when they price them. Any second hand cars that dealers had since last year would probably have been reduced in mid to late November to help sell them before the January rush of more trade-ins.

    You may not see another price reduction until March or April when dealers have taken in a large number of trade-ins against new cars and at which time they may have end of quarter targets to meet on clearing stock. Of course there is no absolute written rule on this and it can all boil down to the dealer, the car he is selling, timing and how much he wants the car gone.


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