Are 2nd hand cars really not selling at the moment?

Zascar

I'm considering selling my car to downgrade - I use a motorbike during the week to get to work and I really only use my car a small amount at the weekends. So I want to sell it and buy a cheaper runaround.

However I'm told the 2nd hand car market is really crap at the moment - is this true? Recession, higher tax and petrol costs, not a good time to be selling a 2 litre... The car is a 2002 Honda Civic Type R. There seem to be quite a few on carzone.

What do you think, is the whole market very slow - should I wait it out a while?

alias no.9

Cars are selling just fine at the right price, if you price it realistically and advertise it honestly, it will sell. I'm not sure what you mean by wait it out, if you mean that you feel the car is of more value to you as your daily driver than sold at current market value only to spend the money on another, then that could be a sensible choice but one thing you can be guaranteed of is that your car will not get more valuable over time, i.e. if it'll only fetch €12k in the current market but you were hoping for €15k, you can be pretty sure you won't even get €12k come the new year, never mind €15k.

jaycen

alias no.9 wrote: »

Cars are selling just fine at the right price, if you price it realistically and advertise it honestly, it will sell. I'm not sure what you mean by wait it out, if you mean that you feel the car is of more value to you as your daily driver than sold at current market value only to spend the money on another, then that could be a sensible choice but one thing you can be guaranteed of is that your car will not get more valuable over time, i.e. if it'll only fetch €12k in the current market but you were hoping for €15k, you can be pretty sure you won't even get €12k come the new year, never mind €15k.

Absolutely right, far too many people get sentimental when it comes to price, be realistic and you will sell.

Marcus.Aurelius

I can't believe dealers are not dropping prices on the older 2nd hand cars (<02), whatever about the newer stuff.

That older segment is just sitting in their yards, rubber rotting away and metal corroding and seizing. They just can't see past the greed.

E92

Joker wrote: »

I can't believe dealers are not dropping prices on the older 2nd hand cars (<02), whatever about the newer stuff.

That older segment is just sitting in their yards, rubber rotting away and metal corroding and seizing. They just can't see past the greed.

Apparently old cars are what's selling well at the moment - it's the recent machinery the dealers can't sell(because of the aforementioned greed).

Marcus.Aurelius

E92 wrote: »

Apparently old cars are what's selling well at the moment - it's the recent machinery the dealers can't sell(because of the aforementioned greed).

Older cars are selling well privately, but I know several dealers who haven't sold one out of a hundred older cars in months. Maybe its a regional thing where I am?

RedorDead

The number of cars for sale on carzone has decreased from somewhere close to 85,000 in late August to 67,000 today, so as folks above have said it you price it reasonably and advertise it well, it should have no problem selling.

jvc

RedorDead wrote: »

The number of cars for sale on carzone has decreased from somewhere close to 85,000 in late August to 67,000 today, so as folks above have said it you price it reasonably and advertise it well, it should have no problem selling.

Probably because everyone hates their new look and they have increased their prices

omb0wyn5ehpij9

The other question worth asking is.....what car would go for next? And would you be happy driving it after having a fairly modern 2.0 civic type r?

I have a dc2 integra type r, and i know even if downgraded now that i wouldnt be happy driving something like a 1.4 golf or civic again. I dont just mean that in terms of power, but also in terms of handling etc

sk8board

RedorDead wrote: »

The number of cars for sale on carzone has decreased from somewhere close to 85,000 in late August to 67,000 today, so as folks above have said it you price it reasonably and advertise it well, it should have no problem selling.

The numbers of cars ont he site fell because they now only post the cars for a set period of time, and not forever. The people who didn't want to pay the extra were unlisted.

me-skywalker

the whole motor trade is on its knees at the moment. dealers are leaving prices the same to get more money in because they are not selling much. and privatly its tougher because ppl arent willingly to spend as much ppl are asking....
leverage is what is needed, if its a case of wants vrs needs just get enough money out of it and sell it on by the time u get an offer and someone to look at it it'll be decreased in value again and again and again

Easy Rider

I hear alot of people are actually faulting on there car loans be it the various hire to buy schemes or people who just got money too easily from the banks, i.e. massive car loans....so maybe going to an auction might be best, I have heard plenty of deals to be done.

Stevo11

sk8board wrote: »

The numbers of cars ont he site fell because they now only post the cars for a set period of time, and not forever. The people who didn't want to pay the extra were unlisted.

I went to renew my ad a couple of days ago and was met with a "choose payment option to renew" type screen.. pity about that... it was a good site while it lasted.. no reason to use it over any other now.
OP, If you look @ adverts.ie you'll see the 2nd hand market is alive and well still.

how about the equivalent version of this website:
http://daftwatch.atspace.com/

but for car websites?

fifomania

I'm jumping in here but I want to sell my '99 corsa for hopefully a '00 or '01 206 and on any of the car websites, the dealers are asking way more than the private sellers are for the same car. :rolleyes:

cvisser

RedorDead wrote: »

The number of cars for sale on carzone has decreased from somewhere close to 85,000 in late August to 67,000 today, so as folks above have said it you price it reasonably and advertise it well, it should have no problem selling.

Theres is something wrong with Carzone @ the Moment since the change over, alot of cars missing since the change over.

-dmo7-

The new layout of carzone is not user friendly at all. Very badly set up in my opinion.

Regarding the sale of private cars, and believe me I study car prices religiously as i'm in the market for a new one, people are asking more realistic prices at the moment but after Christmas i'd imagine they'll drop a significant amount again. 3 weeks ago there used to be about 30 cars added per day, this is now down to 5/6 at most per day. People are holding onto what they've got. Car market will collapse soon and there will be lots of bargains around, providing people are still trying to sell.

galwaytt

-dmo7- wrote: »

3 weeks ago there used to be about 30 cars added per day, this is now down to 5/6 at most per day. People are holding onto what they've got. Car market will collapse soon and there will be lots of bargains around, providing people are still trying to sell.

It's already collapsed, there are bargains already.

I wonder if, with the collapse of the VRT & VAT income to the exchequer, that big - and I mean BIG - reduction in both, would help? I'm using, as a comparison, how the reduction in income tax and CGT over the years actually generated more income. Increasing taxes, or sustaining too-high ones, must surely be the single biggest impediment to growth/recovery ?

Mind you, don't know how it's affect all the 2nd stuff in the country, as-is.

As for the amt of cars being added - Carzone's arsehole policy change, to include, in the worst market imaginable, a charge for renewals is a huge factor. And Autotrader's outrageous rates are a joke - more money for a ****e version of the UK site is pulling the piss, tbh.......