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I've been looking at 08 Vectra Design/SRi (150) diesel autos. They were £8199 @ Trade Sales last week, today are £8799. Motorpoint are £400/£500 dearer on both accounts! Do people realise there is a recession?
Edited by Chuckie888 on 16/03/2009 at 11:27
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YES
But there is a shortage of nearly new / ex-hires etc - demand = higher prices
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Dead cat bounce. They've sold a couple so the price limps up a bit. It'll be back down soon.
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When I bought a car at cargiant last month, this is exactly what the sales bloke said would happen in March. He said I'd done well to buy when I did as there was a shortage of cars coming through, which was pushing the price which they paid for them up a bit. Seems to have come true. He didn't give me this as a line before I'd decided to buy, he said this once I'd agreed to buy and paid my deposit.
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It's not like having to have a loaf or a bottle of milk. If the prices rises then surely people can put off their purchase for a while and then return when it falls. How many really need to buy a car so urgently that they can't wait a few months if the price is not right ?
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>Do people realise there is a recession
yes but that does not mean the price of second hand cars will go down.
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Fewer people and companies buying new, hence fewer being sold second hand. Therefore this was inevitable - used car prices would probably go up. Supply and demand.
... it will only get worse though won't it?
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Ford prices are going up in April.
Huge discounts will no doubt still be available, but it's still upward pressure on new which means upward pressure on used, particularly late used/nearly new.
The likes of CarGiant and Motorpoint are successful operations who know what they are about.
They will sell each car for as much as they can, and why shouldn't they?
Did I volunteer to take a lower price for my p/ex because of the credit crunch?
Yeah, right.
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Fewer people willing (or able) to take finance on a new motor means they keep their existing car, so less trade-ins going on to forecourts mean those looking to trade-in for a nearly new motor have less to choose from.
Fleets (hire cars, businesses) need to keep an eye on purse strings so not turning over their cars as much means less going to auction and less for the car supermarkets to buy.
Motor manufacturers building less new cars so people after a new motor are having to wait for a factory build, or they snap up any demos the dealer has rather than wait 8 weeks.
It will be interesting viewing over the coming months/year or so as borrwoing *should* become easier and people climb over the worry of job losses - where will the motors be to buy? Or will there be a huge sigh of relief and a rush or used stuff onto forecourts as people treat themselves to a new motor?
Trouble is, as people realise they don't have to trade in every 1/2/3 years for another new car, will the trade take a lot longer to recover and used stock become easier to find?
Dealers round my way have fewer motors on forecourts, some even shut up shop altogether (but I don't know for sure the reason) and some are proactively bidding to exisiting customers for their cars.
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My father was getting prices for a potential replacement car.Vectra Estate's 1.8 VVT Life ,08 plate around Christmas were £6.5K now £8K. Still if he hangs on, he can take advantage of the governments pay to scrap scheme coming soon. £2k to scrap one of his jallopies.
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Fewer people willing (or able) to take finance on a new motor >>
With bank rates falling and the government (theoretically at least) pressuring banks to lend, finance ought to become available more cheaply as the year goes by.
And though some peole will be hit hard by this recession, there must still be a lot of people who won't and therefore able to take on finance if they choose.
This time last year there were loads of posts on here about increases in VED and in fuel costs and predictions that some 4*4's etc would come free with a box of breakfast cereal.
Has anyone who was looking forward to buying a second-hand luxo-barge for peanuts managed to do so?
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>>Has anyone who was looking forward to buying a second-hand luxo-barge for peanuts managed to do so?
If £3,750 for a 3 year old Subaru Legacy Estate RE, FSSH, immaculate counts, then yes. I haven't got rid of my old car yet (for which I was offered £100 in early January), and am tempted to get rid of the new and keep the old...
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Indeed! If the scheme happens then there will be upward pressure on banger prices and the price of new and nearly new cars, so a lot of the benefit will be lost! Ahhh Capitalism .... lol
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.*******
Darren.
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Wholesale prices are up 15% since January so these are now filtering through to retail. I've seen Car Giant buy several cars today at auction for more than some similar examples they are advertising at retail.
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I went into trade sales in Slough the other week, they hardly any cars in stock compared to around this time last year!!!!
One complete holding area on one side of Bath Road was completely empty, just what's in their showrooms, what they have in front of the empty holding area next to the footpath & dozens of vauxhalls on the other side.
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