Second Hand Car Market

digitally-yours

Hiya i just saw these figures recently released from CSO

what do you guys think ? how will this effect the second hand market ?

I think it means that pricess should fall for the secondhand market as more and more people going for either NEW cars or either Importing cars from elsewhere

what will be your nterpretation of this document ?Linky here

furtzy

There will always be a strong second hand market for good condition good spec cars as some people just won't but new no matter how much money they have available because of depreciation.

rowanh

If i had 50K to spend on a car i wouldnt consider buying one new. Partially because i dont really like most new cars and also because unless you have an infinate amount of money you can buy something much nicer used. I really dont understand why people buy new cars especially ones that cose under 20k.

digitally-yours

rowanh wrote:

If i had 50K to spend on a car i wouldnt consider buying one new. Partially because i dont really like most new cars and also because unless you have an infinate amount of money you can buy something much nicer used. I really dont understand why people buy new cars especially ones that cose under 20k.

If you had a job worth anywhere above 80k with all nice perks and etc.

Believe me u will always buy a new car.Money changes thinking.

Linford

digitally-yours wrote:

If you had a job worth anywhere above 80k with all nice perks and etc.

Believe me u will always buy a new car.Money changes thinking.

I disagree

80k with nice perks etc is not very much these days; and still limits your purchasing power.

Unless you have unlimited money it is not a motivating factor to buying a new car.

Why buy a relatively average new car for circa 30k when you can get a brilliant 2 or 3 year old car for the same price? The only benefit I can see in buying the new car is the warranty and the "new car smell", verses the obvious first year depreciation, I know what I will continue to choose...

digitally-yours

We have to agree here to disagree

when i say 80,000 it means its a take home pay

Plus free accomodation + fuel allowance + insurance paid by comoany and etc etc

Linford

digitally-yours wrote:

We have to agree here to disagree

when i say 80,000 it means its a take home pay

Plus free accomodation + fuel allowance + insurance paid by comoany and etc etc

LOL

80k take home pay is the equivelant of 130k a year, I don't know what you mean by free accommodation (aside from living at home with your parents).

But most people who have 80k disposable income a year have additional costs(mortgage, kids etc) and I believe you need to be earning in excess of 250k a year and that starts approaching the unlimited money category I mentioned in my previous post.

digitally-yours

Linford wrote:

LOL

80k take home pay is the equivelant of 130k a year, I don't know what you mean by free accommodation (aside from living at home with your parents).

But most people who have 80k disposable income a year have additional costs(mortgage, kids etc) and I believe you need to be earning in excess of 250k a year and that starts approaching the unlimited money category I mentioned in my previous post.

U seem to have a different view and u willing to present things as u want them.
The truth is i know loads of people who have taken loans to buy new car and wouldnt touch a second hand car.

Its personal choice !

Glanza V

rowanh wrote:

I really dont understand why people buy new cars especially ones that cose under 20k.

i totally agree, but then its all down to the year thing and they can tell their friends that they have a new 2007 car!!!

But then again, i earn a descent wage and my newest car is a 2003. In the next year i am thinking of splashing out on a 2005 7 series or go all out and get a brand spanking new Q7 or toureq. undecided yet though.

ToxicPaddy

I know someone who has 65k cash sitting in a bank account and refused to buy
a new car simply because the car would lose up to 10% almost instantly with
him signing on the dotted line..

So he went out and bought a full loaded demo model of the car he was looking
for with under 2000 kms on the clock and got nearly 8k off the price.. It was a
06 car so was the same reg as all new cars on the road except he just didnt take
the same hit on depreciation..

Well worth it if you ask me and I can well see his point..