Is there a market for cars over 10 years old?

16-05-2016 04:27PM #1

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 · 16-05-2016 04:29PM

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

millington · 16-05-2016 04:32PM

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

Indricotherium · 16-05-2016 04:35PM

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 · 16-05-2016 04:35PM

192km is the problem

punisher5112 · 16-05-2016 04:36PM

ted1 wrote: »

192km is the problem

How that's low

ted1 · 16-05-2016 04:38PM

punisher5112 wrote: »

How that's low

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

biko · 16-05-2016 04:40PM

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 · 16-05-2016 04:44PM

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 · 16-05-2016 04:47PM

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.

16-05-2016 04:54PM

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 · 16-05-2016 05:17PM

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 · 16-05-2016 05:26PM

ted1 wrote: »

192km is the problem

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

Dord · 16-05-2016 06:40PM

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

ted1 · 16-05-2016 06:59PM

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 · 16-05-2016 07:02PM

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 · 16-05-2016 07:03PM

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 · 16-05-2016 07:04PM

The price is the deciding factor.

bazz26 · 16-05-2016 08:01PM

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 · 16-05-2016 10:02PM

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 · 16-05-2016 10:33PM

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 · 16-05-2016 10:47PM

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.

16-05-2016 10:49PM

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 · 16-05-2016 10:57PM

This post has been deleted.

MiskyBoyy · 16-05-2016 10:58PM

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

PLL · 16-05-2016 11:00PM

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 · 16-05-2016 11:02PM

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

17-05-2016 08:18AM

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 · 17-05-2016 08:26AM

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 · 17-05-2016 08:35AM

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 · 17-05-2016 08:38AM

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.

Is there a market for cars over 10 years old?

Comments