I've noticed a lot of brand new Pandas for sale (in white) on Ebay all down the country which are brand new with about 10 miles on the clock. They are all for sale between £5500-£5995 and all private sales.
As the Panda was £4995 on Scrappage it appears these idiots have tried to profit on scrappage as they thought they were really getting a £7700 car for £4995. Well I hope their plan has really back fired and they don't tell them. Online you can now get the Panda for £5795 brand new (in white) so why do they think they can get £6k for a second hand one?
I only paid £6500 for mine and that is in the more expensive metalic blue. Why these idiots think they can get £6k for a used white one I will never know.
Last edited by: RattleandSmoke on Tue 25 May 10 at 20:29
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I can't help wondering if there were a lot of people for who the thought of trading in their 10 year old car for a brand new one under the scrappage scheme was too much of a temptation, but in reality they couldn't really afford it, and they are now trying to off load them. Some of the finance schemes offered under scrappage were pretty expensive. There seem to be a lot of Hyundai i10's with delivery mileage on ebay too !
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did anyone actually do this for profit? I cant believe they did, AndyP's analysis much more on the money IMHO
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I am not too sure, I am sure AndyP is right but I also bet some people did do this to try and profit. The market seems to be flooded with one owner city cars with less than 100 miles on the clock at the moment.
If Andy is right then I wonder how many of these 'bargains' still have finance owed on them?
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There are certainly a lot of I10s about at the moment - currently 267 less than 1 year old on Autotrader. I suspect a lot people somehow thought they were "missing out" if they didn't get a "cheap" car.
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And what a con it was, I found the original papers on the scrappage deal and the APR was 13% and £5395, without scrappage the car was £6500 and 9.6% APR, but I also sold the older car for £250.
I am not sure which works out cheaper but I certainly haven't lost £1750 by not going via the scrappage scheme! There can only be a few hundered quid in it.
Last edited by: RattleandSmoke on Tue 25 May 10 at 22:45
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or people realise the i10 is a piece of korean junk....
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sit back and light the, what colour is it, oh yes, blue touch paper (whatever the hell that means!)
i've just signed up for a mini cooper diesel, which is at least double the price of an i10, apparently half as capable, less reliable etc etc etc
do i care? deeply
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Ever driven one, Nick? I haven't, wondering how reliable your assesment is.
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you are joking, seen dead wouldn't I be it in - rearrange!
tbh it was more a question than statement, sorry should of added a ?
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Don't mention the warranty
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indeed - the warrenty, i need one cause all my cars breakdown all the time!
meanwhile back on planet earth
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Well I had an i10 as a hire car in Greece last year and it was 'OK', would I buy one - no, because hitherto I can afford larger and more prestigious cars.
This is a choice, buying an i10 is a rational choice, they're a lot better than merely OK (in my experience), certainly not 'junk'.
Choosing a Mini is also a rational choice, it just satisfies different needs...
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To me the i10 was a bit too rational, a Hyundai does not say petrolhead, its why they don't make a hot hatch version, the Panda does not say petrolhead either, but at least it is liked by many petrol heads.
I think the Panda is still classless like the i10 but at least says a bit more about the owner, but then I am biased!
I do like the i10 a lot for what it is, but I've always loved FIATs.
I think what these city cars are is a very good alternative to the over priced over styled superminis on the used market.
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>> Choosing a Mini is also a rational choice, it just satisfies different needs...
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As long as you don't need usable rear seats.
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>> you are joking, seen dead wouldn't I be it in - rearrange!
Not much chance of that. They're a little on the small side to make a decent hearse.
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Yes people did buy these cars on scrapage thinking they could make a profit. There were many such posts on the old place asking what car to buy and how to offload it, and none of them could accept the concept of the car only being worth less than what you paid for it.
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To my logic, anyone who was remotely interested in a cheap new car was able to go out and get one under scrappage, i.e. the market for this type of car is probably heavily saturated right now. Used ones will sell for the right price, as always, but no chance of making a profit!
Wasn't it often the case that the ex-demo car on the dealer's forecourt was barely any cheaper than buying a brand new one. It was just there to tease you in to buying brand new!
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There would have been a proportion of these cars that were bought for cash as punters cashed in their ISAs hoping to make a quick buck especially as the Koreans hit the buffers on the numbers of cars they were able to supply to he market dried up.........scrappage was a flawed scheme, but maybe the only scheme in town at the time. Cheap second motors disappeared, not helped by the Southern Irish buying them by the bucket full from auctions etc...
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In the last 4 years we have owned a S plate 323, 05 plate Corolla, 05 plate Saab 9-3 (150 Diesel), 09 plate A3, 04 plate Subaru Legacy and a 59 plate i10.
Each of these cars have good and bad bits. The i10 is a good car around town and acceptable on a run up to an hour. It is easy to drive, well specified and well built. It was easier for my wife to drive than the Fiat 500 and Panda (the former she loved the look of, the latter she really disliked).
We bought ours on the scrappage scheme and intend to keep it as my wifes car until it dies.
I remember an economics text book definition of a a true capitalist market system is you pay for what you don't know. For example, these people who go to PC Word and pay 20% more for a computer than I would. These people selling cars think they can take advantage of that, trouble is Ebay is about the worst place to try to disguise price/cost.
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>> ....... idiots ............
Good luck to these entrepreneurial people, I say. Anything which keeps money circulating is good.
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People who tried to profit out of scrappage - Skip
