Shortage of used cars?

cvisser

there is a shortage of used car @ the moment, bread and butter family car quality used cars priced between 7k to 13k, with a 12 month or 24 month warranty, or flying of the shelves, yes flying, the credit union has a big part to play in this as they are the main loaner's @ the moment, i had 2 people come in on Saturday and say "is this all the used car u have" i obviously took there number and i'm followin up with them @ the mo. The problem on the other side is that the bank's will not release cash/credit for dealers to go out and buy quality used cars, i myself will have no problem in buying cars of joe so public but the credit for us is not there. i treat customers with the upmost respect and allways have and they come back over and over again, hard work, honesty, go along way always have, Bulls**t will work with no one.:p

there is a light @ the end of the tunnel and it is getting brighter, we all have to think positive no matter what bussinnes we are in, go out with a hard workin attitude and customers will see this, go out and talk to that custmer in the rain in the forecout, people appreciate this:)

chins up:)

slightly gone a bit of the boil ther but just my 2 cents:o

cpoh1

lifer_sean wrote: »

All involved in the motor trade who contribute here are in agreement that used cars are scarce. Why can't people believe this and accept that those in the trade know what they are talking about ? Why does there always have to be a conspiracy theory ?

Fact 1 - UK prices are now higher than end 08, and cars are almost a year older, so UK is dead as a source for most mainstream cars.

Fact 2 - (per earlier poster) the number of cars on Carzone (and let's face it, almost all car dealers have their cars on Carzone) is down from 63k odd to 48k odd - approx 25% off.

Fact 3 - Wholesale prices (eg auction prices) have been increasing steadily since the spring.

Quality used cars at sensible prices are DEFINITELY scarce. Of course there are dealers out there with yards full of cars at mad prices that are ignoring the market adjustment in prices, but they will never sell the cars at those prices so the cars might as well not exist.

Just to add to this.

Carzone has less cars on it because they are charging per month to advertise and its simply gone out of fashion. People are beginning to realise that the place just wasn't very good at selling cars.

UK prices have increased in the last 6 months but only because prices over here have fallen so rapidly to match the import market.

People in the industry are right, high end used cars are scare - if you want to buy from a dealer. There's an abundance of used cars out there being sold privately by people who need to shift for financial or other reasons. There are serious cash deals to be gotten because people just dont have the disposable income to spend on a car unless they have managed to sell or trade their own wheels.

Fact is 18k will get you a hell of a lot more car than it would have 12-18 months ago.

lifer_sean

cpoh1 wrote: »

Just to add to this.

Carzone has less cars on it because they are charging per month to advertise and its simply gone out of fashion. People are beginning to realise that the place just wasn't very good at selling cars.

UK prices have increased in the last 6 months but only because prices over here have fallen so rapidly to match the import market.

People in the industry are right, high end used cars are scare - if you want to buy from a dealer. There's an abundance of used cars out there being sold privately by people who need to shift for financial or other reasons. There are serious cash deals to be gotten because people just dont have the disposable income to spend on a car unless they have managed to sell or trade their own wheels.

Fact is 18k will get you a hell of a lot more car than it would have 12-18 months ago.

The Carzone pricing structure changed for private sellers only and not for trade advertisers (other than a price increase). Trade advertisers pay a flat rate per month - this was always the case. At the end of the day the Carzone site is a better advertising mechanism for a dealer (measured in either hits or successful sales) than CBG or any of the others. I'm not a fan of Carzone (and I think they are milking for as much cash as they can get) but it works. I don't know of any dealer who has stopped using Carzone. The pricing changes do not explain the fall-off in cars being advertised.

I agree prices fell here at the start of the year to match the imported prices. However this did not cause UK prices to rise - they rose due to UK market effects. The funny thing is that UK cars are now dearer to import and Irish prices have not (yet) gone up to track the imported prices.

lifer_sean

rco2000 wrote: »

lifer_sean wrote: »

All involved in the motor trade who contribute here are in agreement that used cars are scarce. Why can't people believe this and accept that those in the trade know what they are talking about ? Why does there always have to be a conspiracy theory ?

Because alot of people don't trust people in the motor trade especially after the way many of them conducted their business during the "Tiger years"

So are you including in that comment all motor trade people who contribute to boards to try to advise all and sundry on their motoring questions as best they can, with no benefit to themselves ? So if you have a problem with a funny noise in your car you will accept our inputs, but you don't trust our opinion when it doesn't suit ?????

gpjordanf1

Churchy wrote: »

GPJordan - your first post in this topic told us all what a crock this story was.
Now the example you've given us is 6 months old.
Prices have risen every month from then - in fact Dec/Jan were one of the cheapest times ever for customers South of the border to buy cars.
I'm giving at least £1k STG more for decent 08 cars today than I was in Dec.
£1k is the smallest increase - can be up to £2.5k in the case of 7 seater's with a bit of spec.

fair enough, hand's up, i was 6 months out of the loop, i got it wrong, apologies to all, the BMW's and higher end cars can be got with a bit of value still but most popular family cars are now more costly, having had a chance to look over the figures. So apologies to the guy's here in the trade, ya know your stuff! I'm sure ye are getting enough of a kicking on the forecourt without getting it here too. Were all in the same boat really, everyone are just worried at the end of the day.

cpoh1

The going rate for a 05 accord was 15k this time last year, the same car can be got for less than 10k now. How is there less value now?

Churchy

cpoh1 wrote: »

The going rate for a 05 accord was 15k this time last year, the same car can be got for less than 10k now. How is there less value now?

Who said that was the going rate?

Dont forget its a year older now.

lafors

cpoh1 wrote: »

The going rate for a 05 accord was 15k this time last year, the same car can be got for less than 10k now. How is there less value now?

Yeah obviously, seeing as its still an 05 and a year older :rolleyes:

I've been looking for a used car for the past month and the lads on here who work for dealers are right. There is a shortage of "decent" used cars here, in the €7-15k bracket. Anyone who has been seriously looking will know that and anyone who says otherwise hasn't been seriously looking or isn't interested in "decent" quality versions of a model. By decent I mean, good spec, low milage. You'll always find base models or high mileage models as they're naturally harder to sell.

I've picked out the type of car I want, from a list of 3 or 4 models that I was researching and there is only 3-4 cars of that particular spec/engine on sale here in the past month. Its just a regular brand family car (I'm not willing to say which as there is a boardsie with one for sale and I don't want him to know how few there are on the market......I want it at a good price )

Also cars from the UK are no longer worth it imho unless you go above €20-25k. I imported a high spec A3 before christmas and I know I could get it here for a similar price now.

Churchy

cpoh1 wrote: »

The going rate for a 05 accord was 15k this time last year, the same car can be got for less than 10k now. How is there less value now?

Had a quick look on Carzone.
Those around 10k are either private sales with the number plate blanked out...draw your own conclusions...dealers with VRT still to pay or 100k milers.

Decent cars are in the price range of 11,495 to 15,995 - exactly what you'd expect with a car getting older but prices rising. A modest drop in values.

cpoh1

lafors wrote: »

Yeah obviously, seeing as its still an 05 and a year older :rolleyes:

So a 3 year old car gets a year older and loses 5k and thats normal?

Anyone who discounts a car because the registration is blanked out of the ad is an idiot. Id put people who wont buy private in the same bracket, you'll get feck all guarentee from a dealer either on a car worth 10-15k besides the standard 3month engine and gearbox warranty.

Honestly lads im looking at private used cars online everyday thinking "wow what a bargain". There really is the world to choose from at the moment at sometimes astonishing prices. Ye're not looking hard enough lads. And remember what people ask for on carzone and get in reality are two completely different things! If someone has a price of 12k advertised on a car you'd be an idiot to pay anything over 11 in cash.

Churchy

cpoh1 wrote: »

So a 3 year old car gets a year older and loses 5k and thats normal?

Anyone who discounts a car because the registration is blanked out of the ad is an idiot. Id put people who wont buy private in the same bracket, you'll get feck all guarentee from a dealer either on a car worth 10-15k besides the standard 3month engine and gearbox warranty.

Honestly lads im looking at private used cars online everyday thinking "wow what a bargain". There really is the world to choose from at the moment at sometimes astonishing prices. Ye're not looking hard enough lads. And remember what people ask for on carzone and get in reality are two completely different things! If someone has a price of 12k advertised on a car you'd be an idiot to pay anything over 11 in cash.

You've used the word idiot twice there - steady on we're trying to keep it friendly. If you want people who buy and sell 100's of cars a year to contribute at least listen to what we have to say.

BigZack

Spoke with a dealer earlier today. He was just back from a trip to a variety of auction houses in the UK. Wanted to purchase between 75 and 100 cars. Viewed over 7,000 and bought.......wait for it...........8!

rco2000

[quote=lifer_sean;61238074]So are you including in that comment all motor trade people who contribute to boards to try to advise all and sundry on their motoring questions as best they can, with no benefit to themselves ?

No, I am not including motor trade people who offer honest & valuable advice to Boards users - what made you think that???

So if you have a problem with a funny noise in your car you will accept our inputs
No, I don't have a funny noise in my car. My car is working fine thanks.

but you don't trust our opinion when it doesn't suit ?????[/quote]

:eek:

Mike...

lifer_sean wrote: »

So are you including in that comment all motor trade people who contribute to boards to try to advise all and sundry on their motoring questions as best they can, with no benefit to themselves ? So if you have a problem with a funny noise in your car you will accept our inputs, but you don't trust our opinion when it doesn't suit ?????

Seems that a few bad dealers tarnish the name of good fella's trying to make a living.. I would much rather buy a car from someone who appears knowledgeable like here on boards than from someone who I don't know offering a massive bargain online..

Thats just my 2c

rco2000

Mike... wrote: »

Seems that a few bad dealers tarnish the name of good fella's trying to make a living.. I would much rather buy a car from someone who appears knowledgeable like here on boards than from someone who I don't know offering a massive bargain online..


Sadly, there were more than a few bad dealers out there during the boom years. Unfortunately such was the extent of poor service from these motor dealers that they definetely tarnished the industry.

However in time I'm sure that the phoenix will rise again from the flames!

Saab Ed

BigZack wrote: »

Spoke with a dealer earlier today. He was just back from a trip to a variety of auction houses in the UK. Wanted to purchase between 75 and 100 cars. Viewed over 7,000 and bought.......wait for it...........8!

Lads its scary stuff out there. We cant get anything and values are going up not because the good stuff is rising but because you find yourself paying good money for cars with higher mileage etc that only 3 months ago you'd have left behind. I've been at auctions , repo yards in and out of main dealers and trade sellers and the stuff is just drying up. Theres very little to be bought out there. Worst bit is that the repos are starting to slow because the worst is over and the banks are getting cocky. If prices keep going up like this its gonna make it economical again to go to the UK even with the exchange rate as it is because it will be the only place you can get stock. My big concern about this is that its gonna leave the door wide open to the scumbags selling the clocked and crashed stuff which there is loads of here already. Big gaps in the market like that is exactly what the quick buck ropey dealers love to see.

Ted Striker

Having read through this thread there's some good and bad points IMO throughout. Having just sold my own car recently (Southern Reg) and been looking at other cars since end of last year (ROI, UK and NI) I'd like to make a few comments..

a) The decline in car prices is coming to a slow down, which is no surprise. Simple supply and demand. Lot of people are going for second hand cars when a few years ago they may have gone for new ones. People are wary with the economy at the moment and are being prudent. Theres no big surprise here.

b) Second hand cars are not (which seems to be the suggestion here) going to massively jump up in value and leave people paying much more for them. If this happens people will just not buy them. The general man/woman on the street will not pay 1,2 or 3k more for a car than it was 6 months/1 year ago. So prices will level again even if there is a slight increase for a period. People are not stupid and demand/supply will dictate prices. Dealers especially need cash flow.

From having looked myself over the past few months theres still some great value out there. It all depends what your after but in general cars are still much better value than they have been. Some makes/models are levelling off as I said (UK BMW 3 series M-Sport, years 06,07,08 for example) but the average saloon is, and in my opinion will be, good value over the next few years.

A lot of forecourt's I've been on are giving out the line that "second hand cars are becoming very scare" but in all honestly, when you question the how and why you find a lot (not saying all) is based on second hand conversations and anecdotes. I agree, as I've said, we are probably seeing the end of the very cheap cars, but I just don't buy the arguement that prices are somehow going to rise dramatically.

My advice to anyone looking to buy is simple, invest the time online. Use the mainstream sites to start with but branch off into doing your own research too, follow links to dealer sites, search for cars of choice, use ebay (even though I'm not a fan). You will find plenty value out there, and I believe, you will still find this over the next few years.

Also, and I know this is obvious, if you need to sell first make a big effort to sell your own car privately. Remember cash is king these days. Even if you have to reduce the price to much less that you think, you will still be better off once you walk into a garage forecourt with cash in hand. You'll find the 5k they offered for your trade-in really doesnt hold much water when your talking a straight cash deal.

Stevie Dakota

The UK is rapidly becoming a non option for some nearly new cars. I bought a 6 month old Focus a year ago for £12K, the same car now would cost me nearer £14K.

BigZack

Saab Ed wrote: »

've been at auctions , repo yards in and out of main dealers and trade sellers and the stuff is just drying up.

It was rumored that a lot of the banks decided to store their repos until the market levelled out. They were taking a beating at the auctions and felt it would be better to hold out until the market levelled off.

Don't buy that Aston Martin just yet!

Saab Ed

BigZack wrote: »

It was rumored that a lot of the banks decided to store their repos until the market levelled out.

Nah I wouldnt buy that. Sure the banks dont know their arse from their elbow. Still the same twonks in the same swivel office chairs taking the call and checking in with their superior as to can they or can they not except an offer. One good contact I have told me that " there wasnt a hope in hell they would sell that car ( Ford focus I was after ) because it was June and there was no way they would write off some much before the end of the second quarter" ( 10 grand by the way ) Sure enough the car was sold in the first week in July. You gotta remember no matter how many cars they take back its only a drop in the ocean compared to the property loans. Some of the guys at the top probably dont even know they have a repo yard . They dont care , its the same as before, targets and money in.

bf

Just a footnote on this - I have my 07 Passat up on Carzone and I have had calls from 3 garages this week offering strong cash prices (near asking) to buy it into stock. 2 didnt even want to inspect the car

Chatted to one of the guys & he said they were having real problems sourcing good used cars and they were getting most of their stock by trawling the private market as it offered the best value at the moment.

Big Nasty

bf wrote: »

I have had calls from 3 garages this week offering strong cash prices (near asking) to buy it into stock. 2 didnt even want to inspect the car

Interesting!

Now were these guys from the UK by any chance or asking you to part with €150 up front? Be very careful here - could be the next scam!

bf

MCMLXXV wrote: »

Interesting!

Now were these guys from the UK by any chance or asking you to part with €150 up front? Be very careful here - could be the next new scam!

No these are SIMI registered garages in the Dublin area (2 were main franchise dealers) - phone numbers are real & I made a point of calling them back to verify.

I know there are plenty of ads in the papers these days of garages offering to buy cars for cash, but from what i've read these are opportunists/offering very low money.

What i was struck by was these garages were offering decent money for my car

Big Nasty

If they were offering near the asking price why didn't you take it?

bf

MCMLXXV wrote: »

If they were offering near the asking price why didn't you take it?

I might still do yet!

I am negotiating on a car at the moment with a garage with my passat as a trade in & beign offered a far stronger trade in value than what I have the car advertised for - so there actually may actually be no benefit for me being a cash buyer....

Big Nasty

Well done so!

BigZack

Yep. It's definitely starting to have an impact. I was checking out the cars on the forecourts of the 'Motor Malls' recently and noticed a serious depletion in the numbers / quality of the stock.

Carawaystick

sk8board wrote: »

'08 subaru legacy diesels are non-existant. zero on Carzone

'

Subaru Diesels only came out 12 months ago- when the vrt changed. Why would anyone take a big hit selling and replace it with a different car, given the current climate.
Subaru ( Legacy and Forrester anyway) tend to keep their cars longer in the States and britain.

Big Nasty

Carawaystick wrote: »

Subaru Diesels only came out 12 months ago- when the vrt changed. Why would anyone take a big hit selling and replace it with a different car, given the current climate.
Subaru ( Legacy and Forrester anyway) tend to keep their cars longer in the States and britain.

Here's a few for ya!
http://www.cbg.ie/SearchResults.aspx