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Are Used Car Prices Dropping Quickly

pajosjunkbox

I'm in the market for a runaround ( 2nd family car). Stuck to Done Deal and it seems that ....

1. Cars are not moving very fast

2. A lot of prices are being reduced

Will this continue on in to 2024 ? Is it worth waiting a few months to buy. Not in any major rush.

Thanks

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skydish79

I wonder are the Irish wholesale markets, auctions been hit as hard as the Uk markets that have seen 10% drop on wholesale side

mickdw

Probably not yet as the knock on effect from uk will be slightly behind I'd imagine.

Still I'd imagine dealers here looking for top money will have to have abit of a reality check on asking prices.

Tomcat007

Does anyone know any companies in Ireland that can do the processing of importing a car to avoid VAT & customs. Not looking for a car who sells imprted cars but for a company who do the processing once I have found the car itself?

mickdw

https://www.boards.ie/discussion/comment/121543767#Comment_121543767

Lots of dealers do sourcing in uk and might bring in a specific car you chose too but expect a hefty margin.

poker--addict

as above, if you add a middle man they are going to need to add margin, so what's the benefit? It may make sense if buying mega money cars where saving a few % of worth 1000s

mickdw

https://www.boards.ie/discussion/comment/121545804#Comment_121545804

Well you cannot do it by yourself without paying vat twice effectively so its either pay a dealer their margin here or lie at the loss of the UK vat element.

Very few cars will make sense if paying vat vrt duty and nox on top on the uk retail price.

Water2626262

Seems to be a number of dealers announcing used car “sales” these days. I reckon it’s gone quiet now. Interesting to see how this plays out.

goochy

Cars overpriced for so long. Couldn't last

Sono

https://www.boards.ie/discussion/comment/122075378#Comment_122075378

Good to hear, get very little off car deals these days, I always remember being able to negotiate a better price but hasn’t happened for a while now, would be great if prices start to drop.

poker--addict

been a good few weeks since I was plugged in, had some time the last few days, do not see any sign of deals. Perhaps prices being flat in inflationary environment is the best case scenario.

mickdw

VW gone to zero percent across most models suggests sales are slow.

mcw92

https://www.boards.ie/discussion/comment/121543767#Comment_121543767

It has to be a VAT qualifying car first off anyways. I was chatting a dealer in Fermanagh about it and he said the mainland seller he buys from, just has a list of cars that can be bought VAT free for NI sale to Ireland.

So bringing in a specific car as such is not an option in that way - unless you are just asking for a certain model and spec to a certain degree.

goochy

But if its vat qualifying doesn't that mean you can buy car vat free from UK but must pay vat here

Speedline

https://www.boards.ie/discussion/comment/122104141#Comment_122104141

Private buyers have to pay the vat in both countries. Traders can buy a qualifying car vat free but must pay the irish vat.

User1998

https://www.boards.ie/discussion/comment/122104302#Comment_122104302

Anyone can buy a VAT qualifying car in the UK free of VAT as long as its being exported, not just traders. Traders have it easier tho because BCA is the best source of VAT qualifying cars and it is trade only. They have to pay the UK but BCA will refund it when you prove the car has been exported.

And technically speaking traders don’t actually have to pay the import VAT here. It gets postponed to when they sell the car and just pay VAT on the full sale price of the car. Instead of paying it, reclaiming it, and then paying it again when the car sells. Whereas before Brexit it was just done using the VAT margin scheme.

mickdw

https://www.boards.ie/discussion/comment/122104365#Comment_122104365

Do you know anyone who isn't a trader who has got a mainland uk car registered here without paying uk vat or by claiming back uk vat without using an exporter or a dealer of some sort?

User1998

https://www.boards.ie/discussion/comment/122113250#Comment_122113250

No, don’t know of anyone. But its not impossible. There have been a couple of posts on here from people that have done it.

BlakeS94

https://www.boards.ie/discussion/comment/121532961#Comment_121532961

Thank the ol' British empire for the fact us and most African countries still drive on the left, agree with what you're saying though.