hi Guys,
New member on here...but been visiting the forum regularly for a while now!
Anyway I have noticed that prices on used cars are very low - im talking about cars under the £3000 range. I have noticed various marques ie Audi, VW, Volvo etc for allot less than they were a few months ago.
Is it the time of year that is affecting the prices?
Im thinking of buying a car that I like...keeping it a few months an hopefully selling it on for a profit. Would this be possible. Im guessing the prices will probably rise once the weather gets better?
Any thoughts or opinions are welcome.
Thanks
|
Welcome M, unusual question this.
In theory it could work but not sure it will work with the more prestige marques, which could be even more adversely affected should the economy suffer the predicted second hit.
The problem with the makes you mention is that they are cheap for a reason, and might be very cheap for undisclosed (fault, write off, stolen, cloned) reasons, high parts, repair and running costs, and despite being vastly more expensive when new than some apparently mundane cars are now cheaper to buy when used.
A well chosen convertible could be a good seasonal buy, and there will always be people in difficulties desperate to sell all types of car, whether you make a profit after a winters use is another question entirely.
Can't do any harm to buy a car you like though if it's a good bargain, so long as you're prepared to keep it if all hell breaks loose, and that beggars another question, do you service and maintain it during your ownership with a view to keep or sell.
|
Anything with a petrol engine> 1.6 litres is cheap for a good reason.
Fuel prices.
If you think the economy is going to improve dramatically , buy now.
If you think we are goin to be in a recession and the Euro is likely to be in difficulty, do not.
|
Its madness but people are chucking in bigger engined cars to get something more economical even if it costs them thousands to save a few hundred.
Also an element of perception making people think that prestige brands cost more to run and in these prudent times they must be got rid off.
I only see used car prices on 1.6 + petrols heading 1 way
|
Car prices always drop before Christmas - people have other things to spend their money on. Coupled with the economic position means it's a buyers market right now.
Will it improve next spring/summer?
What are this week's lottery numbers?
|
|
Might be worth a punt on a convertible at the mo. I was looking at Chrysler Crossfires the other day ( don't ask me why, I don't want one but anyway there I was ) they're just amazingly cheap at the moment. If someone wanted a low rent but high spec sports car they're a steal. Might struggle to get a good one for £3k though.
|
The banger end of the market seems to have recovered from the scrappage scheme with prices down to sensible levels again. I saw a beautifully clean Hyundi Enantra 1.6 auto on a Y plate for £850 recently, 50k with full service history.
From what I could find out about them they were no disaster, if nothing more than very ordinary and I was almost tempted though I'm not in the market for a replacement yet.
|
>> From what I could find out about them they were no disaster,
Indeed a decent motor, but make sure it doesn't need front discs, same set up a Hyundai Coupe apparently, fitted from behind the hub, very expensive as it will almost certainly entail 4 new wheel bearings.
|
As I said in a previous thread, I always buy privately in January.
I buy on condition, and always have a choice of marques etc.
Most importantly to me though is buying from someone who you would happily invite to afternoon tea at your home. Far less chance of any nasty surprises.
|
I only see used car prices on 1.6 + petrols heading 1 way.
Indeed. And yet with the difference between petrol and diesel up to 9p in places, petrol looks more appealing than it has for years. I was doing mental maths this morning about the break-even point, and for a diesel returning 10 miles per litre against a petrol equivalent giving 8, it would take 40,000 miles to make back each £1,000 difference in purchase price. Regulars here know I'm considering a Skoda Superb estate, and the 1.8 TSI version could be the one to have - at the right price, of course.
|
So WDB forget the Skoda, what would be the break-even point for a V8 XC90 on your driveway?
Either way, any vehicle with an oil based drive system is going to be worth TSROFA in ten years time when everyone is whizzing about in mobile electric hairdryers.
|
>> a Skoda Superb estate, and the 1.8 TSI version could be the one to have - at the right price, of course.
My car is a company one so cost to me per month is monthly rental/lease and BIK. Skoda Superb Elegance might have been an option (some persuading to do at home) but actually cost me more. Hence the Passat CC GT 170PS. It really is cheaper... odd but true.
I'd have gone for the Passat with a 1.8T but it was only available in base spec and not GT. And even if I went for a base spec 1.8T Passat CC... I'd be worse off. Despite it being a cheaper, lower spec car.
|
Used Car Prices - time of year? - -
