Is is really difficult to shift used cars for sensible money now? Or a price guides like Parker's and especially the WhatCar? price guide incorrect?
E.g. colleague tries to sell vgc car for £3500, £750 less than Parker's private sale price ends up having to take £3000 to get it shifted.
Friend of a friend has a used supermini worth £2500 in a private sale according to Parker's, no takers even at £1750!
I guess people want a new or newer car and with interest rates so low just now can afford the payments on a new car so no interest in any used car over 3 years old....
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I think your last paragraph had answered your question. And I reckon Parkers has always been far to generous in the past with their valuations.
--
I'm a loser, baby....so why don't you kill me?!
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The guide prices always show average. Let's say you are trying to sell popular model - 1995 Vauxhall Astra 1.4, if you live around Manchester you'll be extremely lucky to shift very good one for £900. If you live in London you'll be lucky to find one even advertised for less than £1200, let alone getting one without parking dings and starship mileage for that price.
Let me put this way, for me, in London, checking Glass's price guide is like reading stock prices from 1950ies. The values are so low it's nothing but funny.
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this links nicely with another recent thread "second hand car values" - as new car prices and promotions get better, the metal on your driveway will continue to devalue horribly.
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Your problem just indicates that the world is (over)full of used cars, as a drive up your local dealer-strip will show. Only the best examples sell at book prices. The problem is getting a buyer to see yours before he sees ten others.
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I must admit, I've finished with Parker's and Glasses guides on their own.
I always get the local paper, Auto Trader etc and compare asking prices for similar vehicles.
I found this helped get the prices right on a couple of occasions. I usually had one or two calls, and, I only need one buyer....
Hugo
"Forever indebted to experience of others"
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Hold on a minute.
Let me get this straight, people out there are unhappy that car prices are coming down ?
I can see it may be a problem for dealers sitting with a yard full of used motors, but for regular joe car driver ?
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no, it's great and a complete reversal of what we've seen in the UK, the motor manufacturers' "treasure island", for years - t'iz only bad news, of course, if you are trying to sell privately and assumed you'd get £xxxx for your wheels to move up. I wonder how many used cars there are sitting around the UK cos no-one wants them at the prices owner still believe they're worth.
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Most people (not traders) are selling an old(er) car to buy something new(er)
e.g.
Previously they were selling for 3,000 and buying for 9,000
To do the same business today they sell for 2,250 and buy for 7,500. Cheaper to upgrade by 750.
I see the same strange attitude when it comes to houses. An aquantance decided against selling his 80k terrace to buy a 120 detached a short while back. Now that his house has gone up to 100k he's chuffed and buying the detached for 150k. He thinks he's gained 20k I reckon he's lost 10k.
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an item, car or otherwise, is worth what somebody will pay for it. You can ask what you like for it, but the pile of notes you get when the deal is done is the value.
How many people have lost sight of that simple truth? Looking in Autotrader and the like will tell you what people are asking, but do you know what people are paying?
A better idea may be to see which cars stick for 4 weeks and assume they are either (a) held together with Wrigley's or (b) overpriced. Of course, it could be a bit of both....
When pricing your car, ask yourself if you want to sell it and buy a new car or just advertise it and see the car you want slip away for the sake of £100.
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