When are secondhand prices going to drop

JHMEG

MarkN wrote: »

I sold an Audi S3 over the phone.

Only cos you lopped 10 grand off it and it was only 10 months old. That was bargain of the year for whoever bought it, and that's why you were able to sell it over the phone.

Mailman

MarkN wrote: »

I suggest you go search for some info on it.

The cheek of you, you little pup! : )
I know how VRT works. I've been through the VRT appeal process. Made freedom of information requests with regard to the operation of VRT. Been in lengthy correspondance with Revenue officials regarding VRT. Sought and received information from SIMI w.r.t. to OMSPs. Co-operated with others who were challenging VRT through the Courts. I'm well familiar with VRT.

King Kelly

33 posts to this thread. 25 from Mailman and MarkN. Your like an aul married couple going thrrough a messy divorce?

Maybe its time you got a room of your own!

MarkN

JHMEG wrote: »

Only cos you lopped 10 grand off it and it was only 10 months old. That was bargain of the year for whoever bought it, and that's why you were able to sell it over the phone.

Yep - I wanted to sell it. Any high performance/niche car will lose that and more per year, it's a fact of life. A new Audi RS4 loses 20k+ per year, M3 25k+ per year. Swings and roundabouts JHMEG, I got a large discount from having no trade in and have a 335 parked outside 6 months later worth almost what I paid for it.

Mailman, fair enough I didn't give you the benefit of the doubt, making out I am a fool is not exactly being tactful either. If you are so well up on VRT then you will admit it doesn't help the price of cars in this country.

E92 - I think what you are saying is very specific, not all cars are going to see as much change in pricing as a lot of BMWs and not all people are out to buy a 5 series so yeh your example of how attractive a new 5 series compared to a used one is spot on but it's not always going to be like that

Mailman

King Kelly wrote: »

33 posts to this thread. 25 from Mailman and MarkN. Your like an aul married couple going thrrough a messy divorce?
Maybe its time you got a room of your own!

I'm happy to talk about this ad nauseum. Prices are going to drop as there is an overhang of supply on the market. Wouldn't want to see punters out there loosing thousands by buying before dealers are forced to "moderate" their prices.

-Chris-

What car are you looking for Mailman? Have you walked into a dealer and tried to haggle? I'd say if you find a dealer with a lot of stock, you won't find them putting lower prices on the internet or doing a "massive overstock, everything must go" advertising campaign, but you will have more room for negotiation than usual if you push hard.

E92

MarkN wrote: »

E92 - I think what you are saying is very specific, not all cars are going to see as much change in pricing as a lot of BMWs and not all people are out to buy a 5 series

I completely agree with the point you're making but I used the 520d to illustrate the point I wanted to make about supply and demand etc:).

Mailman

AudiChris wrote: »

What car are you looking for Mailman? Have you walked into a dealer and tried to haggle? I'd say if you find a dealer with a lot of stock, you won't find them putting lower prices on the internet or doing a "massive overstock, everything must go" advertising campaign, but you will have more room for negotiation than usual if you push hard.

I agree with your strategy of negotiating hard.

To answer your question I'm not interested in changing at the moment. Will probably run my current car until it blows up unless I stumble across something I really, really like in the meantime. I like my current car and it should need no major investment for the next 20,000 miles. NCT is due late in '09 so no worries there for a while either.
I created the thread because I'm seeing a huge amount of stock on carzone and cbg. Seeing reports here and there of finance companies channeling a lot more stock through the dealers and have seen close at hand people who are living from paycheck to paycheck buying expensive cars but unable to pay their service charges on time. With the jump in jobless figures, drops in tax take I figure there is a lot less cash in the economy to buy these high sticker price items.

T J Hooker

MarkN wrote: »

Yep - I wanted to sell it. Any high performance/niche car will lose that and more per year, it's a fact of life. A new Audi RS4 loses 20k+ per year, M3 25k+ per year. Swings and roundabouts JHMEG

I'm going to have to disagree with your evaluation of those depreciation figures. I would admit that they might be accurate for the first year, but I cannot see myself picking up a 07 E92 M3 next year for the region of €55k. Depreciation slows down each year for a car. If an M3 depreciated €25k each year then we'd all be getting one in 4 years time for free

T J Hooker

I won't mention which Dealer I work for but with reference to people saying only people in reputable positions are buying cars is a load of crap. The amount of our customers financing there vehicles is surreal and from all walks of life! I'd be confident enough to say its substantially higher than last year.

milltown

I'm surprised that finance is only being given a bit part in this discussion. Finance is the raison d'etre of most of the motor trade in this country. For most (honest) dealers, the cars are only there as a means to sell finance and many of them are quite happy to sell a €35000 car for a couple of hundred euro net profit because their deal with the finance house means the 5 year finance plan with payment protection will grease their palms to the tune of a grand or two. Did you ever wonder why a lot of salesmen seem to have only a passing knowledge of the cars they are selling, but could tell you off the top of their head what deposit they'd need, how much a month and what the ballon payment would be? They're there to sell finance and they don't mind throwing in a car with it if that's what it takes to get you to sign up.

The other side is, even the bigger dealerships are not cash rich. They rely, perhaps even more heavily than their customers, on credit. This is the crux of the issue here. The dealer could have 95% of the sticker price outstanding with his finance company, who will start to squeeze after 30 days, harder after 60 and really start charging after 90 days. Unless you're buying the car with his finance and all the whistles and bells he can't afford to "sharpen his pencil" too much.

Sometimes you will snag a good deal if a savvy salesman knows the car you are interested in is sitting there a while and starting to cost him money. It makes sense for him to wash it out at a nominal profit and make room for something fresher. Others are fools. When looking for my current car, which I now have 16 months, I was interested in two others. One, I had a look at and it had a stiletto hole in the driver's side carpet. A shame but not a deal breaker and if the deal was ok I could repair it. He had a look over my car, took my details, told me he'd have to come back to me with a price to change. I'm still waiting for his call. The car was still on Carzone 6 months later at the same price. I'm told he sold it trade. The other was too expensive to be worth looking at, €32k when the ballpark was €26/7. That one was still on Carzone up to about three months ago, most recently priced at...€26k, except now it's a year older.

JHMEG

MarkN wrote: »

Yep - I wanted to sell it. Any high performance/niche car will lose that and more per year, it's a fact of life.

MarkN wrote: »

I have a 335 parked outside 6 months later worth almost what I paid for it.

So the 335 is not high performance or niche or what? Or it will get hammered on depreciation?

If you buy right it's possible to lose little or no money. I actually sold my last car for more than what it cost me to buy 2 years earlier.

MarkN

JHMEG wrote: »

So the 335 is not high performance or niche or what? Or it will get hammered on depreciation?

If you buy right it's possible to lose little or no money. I actually sold my last car for more than what it cost me to buy 2 years earlier.

I wouldn't class it in the niche thing really.. it's not an M3 or an RS4 or an S5. I'd be confident enough that I've lost approx 5k which in the context of cars and what I meant by "nearly what I paid for it" is not the biggest deal in the world.

TJ - you're right about that not happening every year but 25k a year is quite realistic for year one and two on an RS4 and there's a 2007 M3 in Duffy's which cost 115k going for 100k and there's easily 5-10k more give in that price and that's coming from the mouths of BMW salesmen (again for year one and two) so they're not figures I plucked out of the air.

tw0nk

kceire wrote: »

good question, i was in the market for a D4D avensis, and the cleanist one i wanted was in waterford advertised at 16,945. i rang the girl and asked her would she meet me half way to go through the car and she said no, she didnt wana risk driving for an hour with the risk of not selling the car to me.

so i said ok, if the car is as clean as you say it is, i would travel to waterford from dublin and buy it there and then subject to a good look around etc and offered her 16k and she point blank refused.

so i told her good luck selling it as your not willing to travel, and wont budge on price when its a buyers market!!!!

so im off to england tomorrow to buy a newer, higher spec (T-Spirit Saloon) than hers for the same money!!!

kceire, Fair play to you! stories like that and the action you subsequently took cheer me up no end, Im fed up with garages over-charging and in some cases advertising wrong price or wrong spec and dont give a sh*t when you point it out to them.

I asked a local garage in wexford the price of a skoda superb and the guy told me to go outside and have a look in the window as the price "should be on an a4 sheet in the window", he never bothered his arse trying to sell it to me and when I went over to the car there was no price to be seen, hope you get a good value, well specced car in the UK and best of luck.

JHMEG

MarkN wrote: »

I wouldn't class it in the niche thing really.. it's not an M3 or an RS4 or an S5. I'd be confident enough that I've lost approx 5k

5k in six months. So what are you reckoning for the full year?

MarkN

Hard to tell... 335s are few and far between, there's limited builds on them and it's an M sport too. I couldn't say for sure but I'd guess there's another 2/3 grand to come off it before end of year. It's list price was €82,000 this time last year so I can't see it being worth less than 70k for a bit of time yet.

Maybe I'm right, maybe I'm wrong but it's heading off topic now though.

Gumbo

tw0nk wrote: »

kceire, Fair play to you! stories like that and the action you subsequently took cheer me up no end, Im fed up with garages over-charging and in some cases advertising wrong price or wrong spec and dont give a sh*t when you point it out to them.

I asked a local garage in wexford the price of a skoda superb and the guy told me to go outside and have a look in the window as the price "should be on an a4 sheet in the window", he never bothered his arse trying to sell it to me and when I went over to the car there was no price to be seen, hope you get a good value, well specced car in the UK and best of luck.

cheers man,

went to england yesterday and picked up a 2005 T-Spirit Avensis Saloon, with full leather, sat nav and all the other stuff that comes with them for the same price as the 2004 lower trim T4 i enquired about, and thats including VRT, flights for 2, boat for 2, some spending money for the day in Birmingham and some dinner on the boat, all in all a good day out!

and the link on page 1 is correct, thats the car i rang u about, i mean she has it advertised at dealer prices!!