Recently, the Telegraph reported that you can save £1000 on a convertible if you buy in December or January, according to Glass's Guide.
However, a CAP survey shows that, while car sales grind to a halt in December, demand jumps a lot in January.
If I wait until January to buy a convertible, will I find dealers less willing to give me the sort of discount Glass's think I should get?
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I know nothing about the trade but would guess that whatever car you were after, if you bought it this week instead of in January you would save money. This week must be totally dead for car sales...
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I know nothing about the trade but would guess that whatever car you were after, if you bought it this week instead of in January you would save money. This week must be totally dead for car sales...
I know of a few dealers that actively seek out stocks of convertibles as Winter tightens its grip. They offload some regular stuff at a keen rate as Summer draws to a close and snap up cheap roadsters to sell on at a good profit many months down the line.
One dealer says in October he buys up to eight MGFs to store and then sell on from April. He reckons he buys them in at two grand under, and charges a healthy premium over book when Summer's in full swing.
Apparently he says punters are so predictable when it comes to seasonal buying...
O
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In the meantime though he will be paying interest on the money borrowed to buy up to eight MGFs.
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What\'s for you won\'t pass you by
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We're told its £2k under in the winet and "over book" in the summer - say £1k. So that's a £3k profit.
MGF are, say £14k S/H at most? So let's say he's buying at £12k and selling at £15k. So he ties up £12k for 6 months at (say) 6% pa. That's £360 of interest.
As opposed to £3,000 profit. Sounds worth it to me!
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Patently, plus the space to keep the darn things where they won't be vandalised or nicked, plus the 6-month loss in value .. COULD be worth it, but not guaranteed, imho.
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Patently, plus the space to keep the darn things where they won't be vandalised or nicked, plus the 6-month loss in value .. COULD be worth it, but not guaranteed, imho.
Oh yes, but Stuartli was querying the interest charges.
Re parking them, yes a problem but if you happen to have a warehouse and nothing better to do with it then you might as well use it..... I don't personally, but some may. Thus, the idea will be more tempting to them than to me.
6 month's depreciation? Yes, but superimposed on that is the cyclical change in open-topped valuations which is behind the whole idea.
There is a risk, but any business idea has a risk. Nothing is guaranteed, except death and taxes.
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>>This week must be totally dead for car sales...
it's been dead for about a month!
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Same same (if not more so) with motorbikes.
Took mine out to charge up the battery and move the oil around today and it was COLD!
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On the same theme , chap I knew when I lived in London used to look at a three week old Motorcycle News in winter, phone round likely bikes, then go and offer, say £1,500 cash for bikes offered for £2,500. Quite a few people would bite (need the cash, bike's not sold after three weeks). He would buy up 10 or 12 bikes. He'd then sell them in July for just under the street price with no bother whatsoever. He reckoned on about £10 - £12 grand a year (at a time when I was earning £7,400 as a programmer in London)
V
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The not sold after 3 weeks method is a good one and not just for cars. With anything you are buying if you know it has been up for sale for a long time without any luck then you are going to be in a strong position to bargain. A pile of back numbers of Autotrader will let you watch out for a car that has been advertised for months with no sale. It might be rubbish but it might be ok. Either way the vendor will be nicely softened up for negotiations. We did that with a house. Saw it, loved it, went through the back numbers of the local paper and saw it had been for sale for months. Offered low and wouldn't go up. Got it at a very nice price. Mind you we got it well checked out before we clinched the offer. Two years on we are very happy with it.
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.."Winter is the best time to go topless"...
Not this morning it isn't...:-)
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What\'s for you won\'t pass you by
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PS
One of the most fun days I've had was driving a Mercedes convertible on a cold February day in the Yorkshire dales - the superb heater ensured that even with the hood down I kept pretty warm.
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What\'s for you won\'t pass you by
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You would be suprised. The heater of an MX5 is on a level with an atomic power station. Top down on a nice sunny day like today, even if cold, is envigorating at least.
Martin
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I'm quite interested in this thread because I am considering buying a Jaguar XK8 this year (subject to certain business deals taking place).
I've never had a convertible. What is it like? Can you hear yourself think above 50 mph? What's to stop all your maps / car-park tickets / receipts getting blown away? Do you get targetted by thieves with knives slicing into the hood? Should I stick with my, err... Toyota Estima?
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I had a convertible - once.
I don't like draughts. I dislike noise. I hate buffeting. I don't like being cold.
I have never had one again: and never missed one.
madf
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Lizard, I have owned 3 convertibles and enjoyed them all, but ultimately got rid for reasons of practicality. They are unsuitable for (a) rain, obviously (b) motorway driving (c) prolonged strong sunlight (d) reduced and awkward-shaped luggage compartment (e) more prone to leak (f) ease of roof damage - though I never suffered that problem myself. Also expensive to insure.
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A good wind buffer (usually an extra) plays a key role in keeping down the buffeting from the wind pressure at speed.
But you clearly wouldn't have liked the Ariel Atom that seemed odds on to rearrange JC's facial features in Top Gear last night then...:-)
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What\'s for you won\'t pass you by
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Well why does ANYONE buy a convertible?
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'Cos they're huge fun. I used to have a Daimler SP250, the car I most regret selling. It was pretty warm even in winter with the heater on full, side windows up and a woolly hat. If it hadn't been used with the roof down for a while, over a certain speed (about 80mph IIRC) all the dust and rubbish in the carpets and footwells would suddenly become airborne and fly away. It was better than vacuuming.
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Lizard,
Every convertible is different with regard to noise, practicality etc. Try them all, and drive them all as you plan to drive your own (even if the dealer squeaks from the passenger seat).
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