Changing face of the used car market

Saab Ed

Just a couple of observations from a salesmans point of view with regards to the used car market. I'd like to hear the publics perception and other dealers opinion to see if they are seeing a similar trend.

Firstly good used cars are drying up. Small hatches and family cars anywhere between 5 to 10 grand are getting very thin on the ground. There seems to be a big push on at the moment for people looking for this kinda stuff and its just drying up. The people who would tradionaly trade in these cars just aren't there in the same numbers, this and the fact that it seems public perception is that the best value out there is in a used car and its lending to a shortage of bread and butter cars. Its ironic really but the best value, so long as you have the spare cash , is a new car at the moment.

The scrappage scheme is adding to the woes of trying to source used cars. Firstly , the majority of people that we've seen taking up the scrappage scheme are " sensible money people " for the want of a better expression, i.e people who have the money to change their car and dont change it too often. Some really good cars are being scrapped , cars that would normaly sell for cheap money yet have a years of life left in them. Because of this, its pushing the worth of everything above it upwards in value. Bangers are getting really thin on the ground , when I say bangers what I meen is cars that used to sell with a years NCT, 100k and worth a 1000 quid.

The last thing I've noticed over the past 7 or 8 weeks is that everybody is now looking for second hand diesels. Now I know what you're going to say, sure thats obvious. Not really. Until a couple of months ago only people looking for second hand 08 and 09 cars were looking for diesels, cars that fell under the new tax system, but not people looking for older cars of which most of them are petrol. But the last couple of months everybody is asking for used diesels.

Anyway , what does everybody else think, I'll be interested to know!

Padraig Mor

Put the wife's 2004 Mazda3 up for sale privately recently and nearly had the hand bitten off us!

Saab Ed

Padraig Mor wrote: »

Put the wife's 2004 Mazda3 up for sale privately recently and nearly had the hand bitten off us!

Yup , thats the stuff thats selling. If its in good condition with proper miles then it wont hang around at the moment.

langdang

Ya, I'd agree - if you were looking for a "sensible" car 4k-10k I reckon you'd be paying 10 to 15% more than the "Tiger years"

Anan1

Well cared for older cars have always been hard to find. I've been looking for a ten year old Forester/Outback auto for a friend for maybe six weeks now, and i've yet to see one with a complete service history.

Stevie Dakota

Relative sold her 2005 CLK200K to the first person who called, it was a lovely example, but she thought she would be waiting, as did I.

voxpop

Anan1 wrote: »

Well cared for older cars have always been hard to find. I've been looking for a ten year old Forester/Outback auto for a friend for maybe six weeks now, and i've yet to see one with a complete service history.

Good luck with that - Irish ppl dont know how to keep a service history especially on older cars.


I sold my 03 Golf Tdi a couple of months ago (end of April) , and it took a while to sell - maybe things are changing now.

Rabidlamb

Was recently looking for a '05 Avensis/Passat or a '06 Primera/Mondeo, all about the same money with 60k miles.

Priced a '05 Avensis up north for €6,500 including VRT (there were cheaper).
Saw the same make, model & mileage in Carlow on for €10,850.
Told the dealer but he didn't seem fussed, said he was there to do a deal, never said how much though.

Found a '06 Primera for €6,000 cash sale, perfect nick.
Local dealer had a similar with slightly more miles on for €7,000.
I offered him the business if he could match the price.
Offered me €200 off then hung up on me when I kept pushing it.

I bought the Primera, 4 year old car for €6,000, driving sweet.
Can't see why anyone would spend €20k+ on a new car with that value around.

alias no.9

Having been on the selling and buying side of things recently, I sold the wifes 2004 Micra within 10 days for significantly more than the difference between the straight sale and trade in prices we'd been offered against a number of cars. I could have sold another 2 or 3 if I had them with the level of interest.
On the buying side, the dealers who're turning over stock are the ones pricing low but without any real room for discounts. We weren't in any great hurry so I was watching some stock and it was obvious what was moving. The days of high sticker prices to allow dealers create the illusion of a good trade in seem to be gone, if the advertised prices aren't rock bottom, nobody is viewing the cars so there are no sales to be made.

Mc Love

I think the fact that used cars are often way too expensive than the UK counterparts. I know this as I had to venture across the water to pick up a car that was about 3-4k cheaper (including VRT).

Also I would agree with you about the lack of used cars. I tried to sell my 04 206 and it was tough enough job, got lucky with regards the price, but it was a bout a grand lower than some of the garages were selling theirs for. If it was during celtic tiger years I reckon I would have gotten two grand more than I did.

mcwhirter

Not many interested in my old car .
I have had my 2000 saab for sale for 3 months now, still no takers. Decent car, will last another 10 years if looked after

I actually have it for sale cheaper than uk at the moment yet still no-one interested.

GTE

Interesting stuff now that I think of it.

I was looking for a car this time last year and I had a mega list of good cars to see, now when I do the same search for the sake of it I only see a small handful (if even) of cars in my search. Two of which were there this time last year and werent the best examples of how to take care of a car.

My search was for diesels under 3000 and they had to be hatchback or estate.

There were VW's, Fords, Opels, Skoda's even the odd Merc


EDIT:
Yeah, from narrowing down about 20 cars to a list of 5 to now only having 5 cars to make a list from . .

http://www.carzone.ie/search/Mercedes-Benz/300-D/Automati/201019197995991/advert?channel=CARS
And this tank, god I would have loved to see the look on my mams face if I came home with this as my first car!!

Mc Love

Mc Love wrote: »

Also I would agree with you about the lack of used cars. I tried to sell my 04 206 and it was tough enough job, got lucky with regards the price, but it was a bout a grand lower than some of the garages were selling theirs for. If it was during celtic tiger years I reckon I would have gotten two grand more than I did.

Strange that you agree when your experience is the opposite

mcwhirter wrote: »

Not many interested in my old car .
I have had my 2000 saab for sale for 3 months now, still no takers. Decent car, will last another 10 years if looked after

.

What sort of Saab is it and what are you asking for it ? Is it NCTd ?

Max Power1

bbk wrote: »

http://www.carzone.ie/search/Mercedes-Benz/300-D/Automati/201019197995991/advert?channel=CARS
And this tank, god I would have loved to see the look on my mams face if I came home with this as my first car!!

Aye tis a nice one alright - if it had leather interior it would look a lot less dated though.

JJJJNR

Think my old dear would prefer this.

Max Power1

great bargain there! for a diesel especially. Im tempted to drive down there and take a look myself now!

alias no.9

Mc Love wrote: »

I think the fact that used cars are often way too expensive than the UK counterparts. I know this as I had to venture across the water to pick up a car that was about 3-4k cheaper (including VRT).

Also I would agree with you about the lack of used cars. I tried to sell my 04 206 and it was tough enough job, got lucky with regards the price, but it was a bout a grand lower than some of the garages were selling theirs for. If it was during celtic tiger years I reckon I would have gotten two grand more than I did.

A private sale at €1k less than a garage is advertising theirs at is not a whole lot when you consider the cost of preparing a car for retail, covering a warranty and the overheads of a garage.
It's kind of funny how you can simaltaneoulsy bemoan the price of used cars here being too high and the low price you got compared to the celtic tiger years and difficulty you had in selling your used car.

Mc Love

Would have been much easier to sell at the higher price in Celtic tiger years.

mumblin deaf ro

It's an interesting observation Saab Ed.

I suppose people have realised that their small hatchback won't explode just because it's out of warranty and has driven over 50K miles. Our 06 diesel Focus runs likes a dream and we have never spent a penny on it apart from tyres and services.

mumblin deaf ro

On the whole trade-in business, I think Irish people suffer from what economists would call endowment bias.

http://en.wikipedia.org/wiki/Endowment_effect

-Corkie-

I agree saabed. I think a lot of people think that you should by a good car for half nothing with the recession. A lot of people are hellbent in "we will go to the auction and get a car for nothing or go to the uk. Im afraid good straight cars with warranty are still expensive.

The sterling difference should stop people going over the water as well. I have my own car sold(now car less:rolleyes:). I was thinking of uk again but it would hardly pay you and i cant get what i want either.

Eric Cartman

SARASON wrote: »

I agree saabed. I think a lot of people think that you should by a good car for half nothing with the recession. A lot of people are hellbent in "we will go to the auction and get a car for nothing or go to the uk. Im afraid good straight cars with warranty are still expensive.

The sterling difference should stop people going over the water as well. I have my own car sold(now car less:rolleyes:). I was thinking of uk again but it would hardly pay you and i cant get what i want either.

Yeah the UK thing has gone, When I bough my kia in 2008 there was a huge saving to be made in the UK , now theres very little on new cars and the only advantage on 2nd hand cars is spec and condition , Even with all the uk car warnings about salt on the roads the paintwork, interior and panels are normally immaculate and brits arent afraid of words like 'leather' or 'optional'

-Corkie-

Eric Cartman wrote: »

Yeah the UK thing has gone, When I bough my kia in 2008 there was a huge saving to be made in the UK , now theres very little on new cars and the only advantage on 2nd hand cars is spec and condition , Even with all the uk car warnings about salt on the roads the paintwork, interior and panels are normally immaculate and brits arent afraid of words like 'leather' or 'optional'

I know im half sorry for selling now but i want to put cash back in my business so ill be doing without leather and options for a while :pac:

coolkidd

I brought in a mondeo last year from uk, top spec with 80k miles. Worked out 1600 cheaper than the base models with more milage here.

What sites do ye use for uk cars??

I priced a few sports cars in uk against the ones here and tbh there is not much savings to be made anymore.

Eric Cartman

coolkidd wrote: »

I brought in a mondeo last year from uk, top spec with 80k miles. Worked out 1600 cheaper than the base models with more milage here.

What sites do ye use for uk cars??

I priced a few sports cars in uk against the ones here and tbh there is not much savings to be made anymore.

i just use autotrader and do a national search , postcode SE10AB , theres very little savings on anything from the UK anymore

JJJJNR

Sterling v euro has dropped big time, I'd say there are little gains to be made over irish cars apart from the spec, so your still getting a lot more car but I think the UK deals are loosing the shine with the exchange rate at 1.00 EUR = 0.82 GBP.

Magenta

mumblin deaf ro wrote: »

It's an interesting observation Saab Ed.

I suppose people have realised that their small hatchback won't explode just because it's out of warranty and has driven over 50K miles. Our 06 diesel Focus runs likes a dream and we have never spent a penny on it apart from tyres and services.

My neighbour recently traded in her 2007 Ford Mondeo... for a 2010 Ford Mondeo. She only drives it around the village!!!!

smash

Saab Ed wrote: »

Its ironic really but the best value, so long as you have the spare cash , is a new car at the moment.

But not everyone wants a clio or a colt etc.

but it's been said for months that good used cars in Ireland will be hard to find, thus pushing the prices up, and in return people will start going to the UK again.

fonecrusher1

Magenta wrote: »

My neighbour recently traded in her 2007 Ford Mondeo... for a 2010 Ford Mondeo. She only drives it around the village!!!!

Keeping-up-with-Jones's-ology. Its a mystery.

Guy i used to work with was obsessed with getting his brand new base model 1.4 Astra every year & often scoffed at my suggestions of getting something a little older but much more fun with a slightly bigger engine. Ya know, for a change. He was in his mid twenties.....FFS?!

It was madness to him but lifes too short really IMO.

smash

cdb wrote: »

I'd assume the summer months are traditionally a good time for second hand car sales so is this just a temporary blip after a few years of inactivity in the second hand market maybe?

Summer is always quiet for new and used car sales. People on holidays etc.

_Kaiser_

Lately I'm half-thinking about putting up my 2.0 TDI DSG 06 Passat and getting something maybe a year or two older but more upmarket (like a nice 5 series or maybe a newer shape A6 etc)

As mentioned in the OP though, what's put me off is my impression that unless it's a 08+ on the new tax system, I'd only get buttons, that and although it's very well looked after and with a full main dealer history, it has 130k KM (not miles!) on it.

I was thinking somewhere in and around 10-12k private would be realistic at the moment? Or has that now gone up a bit taking into account the rest of the OP?

L-M

Good value in anything seems to sell. I saw a 05 Range Rover up for €19,999 ¬.¬ and it sold fairly rapidly.

Small hatchs, small engines, low tax, they're all selling. I've heard 08-09 cars aren't selling as well as they aren't offering the value most new or 06-07 cars are offering.

I had a car for sale very cheap recently, and that was the price. A fella rang and was insulted that I wouldn't give much of a discount but I tried to explain it was very cheap as it was. It sold to another customer for what I was asking in the end.

I also got a lovely offer of 12k on something that was for sale for more than twice that, and the buyer tried to give me reasons why it was a good offer, "that the motor trade was very slow at the moment".

There's is a big change, but "credit union" money cars seem to be the cars that are selling.

galwaytt

..my 0.02 on the 'shortage' of used cars of a certain size/type/etc.

Consider my 06 Saab 1.9 Tid. Ordinarily, I'd be changing it now. But, and like a lot of people, we bought it in early 08, used, at what I deemed then to be a fair price, but the collapse in prices of cars generally, since, means that we, no more than 'negative equity' homeowners, are just too far in, to take a that big a hit, now. So I would think there is a pool of cars that is eligible to change, now, but people can't (finance, etc), or have weighed it up, and won't (me). I'm not looking to get anything like money back, but the fact is, that an extra 10k depreciation got put on the car over normal depreciation due to the price re-alignments of 08, and the only way to work that out, is to keep it an extra 4 years or so over what I'd normally do.

So the situation will get worse, I'd wager.

And, even if I got good/fair price for it, I'm quite sure I wouldn't get finance on a new, anything. So that's another point against changing it......

On a lighter note, though, I'm glad to see qty's of these trundling out of our yard again, after a woeful 2009......

chalupa

<snip>Take it to adverts</snip>

furtzy

Low mileage diesels circa 2005 -06 around the €8k -€9k mark are selling like hot cakes. My 05 Vectra sold within 2 hours of me trading it.....the buyer was ringing the dealer every day to see when it was in. I left into the same dealer last year when I went on holidays to see if they could sell it and no one looked at it

chalupa

Hi all,
Just wondering what you think I should get for a 03 Lexus IS200 with 55,000 miles on clock. Have only just put it up on a few sites yesterday. No calls yet but advert just up so thats expected.

Heres the advert I have put up
http://www.adverts.ie/240816/cars/03-lexus-is200-low-milage-bargain/

Only bought it in December but going to Aus in September. Bought for €7500.

Also have only but it up on free ad sites. Do you think it is worth paying to advertise it on carzone website.

Thanks
Richard

Motorcheck

Donedeal.ie seems to be working well for others on boards.ie

galwaytt

chalupa wrote: »

..Do you think it is worth paying to advertise it on carzone website.

Thanks
Richard

Honestly ? no, I don't think so.

Donedeal is the (only) happening place atmo.

GTE

Kaiser2000 wrote: »

Lately I'm half-thinking about putting up my 2.0 TDI DSG 06 Passat and getting something maybe a year or two older but more upmarket (like a nice 5 series or maybe a newer shape A6 etc)

Yeah, Im in two minds about the tax system. For older cars, like 1994(Lovely Merc) to 2005 then I find myself thinking the tax is fine. In my head it seems that because the car is essentially the same from a year or two pre-emissions tax 08 to post-emissions tax 08 that the tax makes a big difference.

I was looking at a 2.5 Audi A6 from 2002 for the craic and I just preferred the idea of that then getting a newer car closer to the changeover.

Its an interesting one, it seems more about how the human brain works then anything concrete.

galwaytt

bbk wrote: »

Its an interesting on, it seems more about how the human brain works then anything concrete.

....hey, isn't that always the way with cars anyway ! ?

GTE

galwaytt wrote: »

....hey, isn't that always the way with cars anyway ! ?

Yeah, but if I think about tax much longer my brain will blow up because I should be paying less then 582 cause my bloody emissions are bloody lower then 5bloody8damn2!!!:mad::mad::mad::mad::mad::mad:

RandomAccess

http://www.rathdownmotors.ie had a 730d for 20k yesterday, I think it was an 05, but its not on the website anymore so I guess it was sold. They list the new prices and the depreciation is something else, apparently it was 112k new.

Wouldn't mind one of those!