Hi,
Browsing this morning various online car sites for my area I am a tad surprised to see loads of CRVs for sale - mainly petrol but quite a few diesel.
There were only a handful a week or so ago but now there is choice of colour, mileage, age, manual or auto? It has gone from a handful for sale within a 60 mile radius of myself to close on 60 or 70.
I can only assume it is because of the tax hikes and/or the fuel? Anyone else noticing this? Btw, I haven't checked other 4x4s in my area.
T.
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An elderly friend was driving a nice looking black CRV the other week instead of his ancient & rusting Fiesta.
A very clean car with leather, fsh etc, pretty much immaculate.
I asked him where he got it from - his daughter had bought a new Honda a few weeks ago, but the trade-in value was so derisory, she gave it to her dad (didn't say what she was offered)
As has been said elsewhere, I don't think dealers want to touch larger engined cars at any price, they just can't shift them.
MVP
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The Honda dealers in my area are, IMPO charging silly sums still for second-hand CRVs but the private prices seem to have come down dramatically.
I can only assume people wish to get rid of them, as I said in my OP, because of the coming tax changes or perhaps because the rise in fuel has made them pricey to run?
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The tax is only going up by £100 per year and they are not that juicey to run. I get 31MPG running around locally and 38 - 39 on a run (Auto). My diesel Accord was not much more economical 42 - 44 ish on a run and 38 around locally.
Some bargains to be had then :)
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That sound good MPG. I was reading over on whatcar's owner reviews people complaining of just 25 MPG on, I think, the petrol manual let alone the auto.
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I do drive around gently in it and the lowest I have ever got is 27 when I drove it with a lead foot
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I'm guessing this is for the previous shape (that has been replaced by the egg on stilts). From looking there are lots of nice SUVs at bargain prices at the moment - owners getting jumpy (for no reason IMO) and offloading them and dealers dropping prices to shift the stock
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31mpg in an auto - that is extraordinary! A friend of mine has one, a manual, and he gets that on the motorway. Around town is around 24-25.
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>>31mpg in an auto - that is extraordinary! A friend of mine has one, a manual, and he gets that on the motorway. Around town is around 24-25.>>
No surprise there; for reasons not up for discussion here I recently drove down to Devon on the A303 at a steady 50mph.
I drove a 2007 CRV petrol/automatic/aircon/radio/wipers/lights on etc. etc. and got a measured 40mpg. At 80mph+ or around town I'm getting about 28-30. Light right foot and avoiding dead stops/starts is the secret plus a sensible average speed.
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Seems a worldwide phenomenon.
Here's some bites from a story on the news wire:
My wife inherited her father's 2007 Hyundai Santa Fe with a mere 317 miles. Our first instinct was to return it and try to recoup the $23,000 price tag.
With gas prices around $2.90 a gallon, it seemed an affordable luxury.
"We'll only use it for camping and long trips," she said. "Besides, we can always sell it."
The arrival of a newborn forced us to a car dealer in April for a quick sale.
A wheezing, barrel-chested appraiser greeted my offer to sell with: "Why do you want to lose $10,000?" A bit shaken, I rejected his price of $15,000.
Relying on Internet car pricing sites such as Kelley Blue Book and dealer listings, and ignoring news about $3.50-a-gallon gasoline and fears of a recession, I lulled myself into thinking I would sell the Santa Fe for $18,500.
I listed it with eBay Motors. A week of tepid bidders produced an offer of $10,000.
By June, I had placed a half-hearted ad in the local paper and a spruced-up listing on Craigslist, both cutting the price to $16,500. Gas prices crossed $4.00 per gallon
"Kelley Blue Book is not going to buy your car," said Bill Seng, a senior buyer at Burns Honda. He described the current market for large used cars the worst he's seen in 35 years and cheered me with tales of distressed sellers unloading nearly new SUVs for a song. Recently, he said a Tahoe owner accepted $30,000 for a car on which he owed $48,000.
I called Kelley Blue Book. "We're seeing values drop like rocks for SUVs," said Robyn Eckard, Director of Public Relations. The flipside is that small car prices are rising. She also had advice for me.
"From a purely financial perspective, you could probably sell the Scion for more than you paid for it and you should hang onto your SUV and stick it out with gas prices."
The final step to selling the SUV was realizing that getting a great deal on a minivan meant giving a good deal on the Santa Fe. Seng said it was clear the appraiser was trying to steal the Santa Fe out from under me with his $15,000 offer.
Dispirited, I admitted I had finally sold it to an acquaintance for about what the appraiser offered.
"You got the money!" he told me. "That same appraiser would probably offer $12,500 today."
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My guess is that CRVs, in particular, have been bought in the past by people who didn't really need an SUV but fancied something different if it was made by Honda. Now they are a bit jumpy about the immediate future and are scuttling back into Accords and the like.
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A bit precipitately, in my view.
Lots of those I see in CRV's are school-run mums or, as in the earlier example, an older couple who enjoy a decent car that's easy to get in and out of.
If that's the case, the mileage won't be huge and oil prices are falling back. Why sell into a falling market? The money that goes down the drain will buy a lot of fuel and cope with any increase in VED.
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he money that goes down the drain will buy a lot of fuel and cope with any increase in VED
Have you not seen in TV about the nation's appalling maths skill?
:)
Edited by movilogo on 19/08/2008 at 10:50
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I could just about drive a 30 mpg vehicle but a 25 mpg vehicle would be a huge expense in today's market.
What is considered a good MPG today - I have been looking at a 1.8 petrol Verso which is about 38 MPG but that seems nothing compared to all these cars in the 50s MPG mark these days, especially those superminis which get nearer 60?
I have to admit that whilst looking for a new car recently I have become a tad occupied with the MPG expense plus the VED expense and ended up looking at small cars which simply have no room for anything other than a few shopping bags... and hence impractical for my needs.
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If fuel were £5 per gallon you travel 30 miles for your £5. To travel 10,000 miles costs you
333 gallons so £1665.
At 25 mpg, 10,000 miles will cost you 400 gallons so £2000 which is 20%more. That sounds a lot but it's about £6.50 per week extra. How much is a packet of fags?
Alternatively you could cut your mileage by 25 or 30 a week.
All I'm saying is I don't think people should be panicking, losing hard-earned money and piling into little cars.
Edited by Optimist on 19/08/2008 at 12:23
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Plummetting used values.....surging petrol prices.....difficulty even selling perfectly good cars...... doesn't leasing/contract hire suddenly make a whole heap of sense?
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At the risk of sounding like a numpty I don't really understand the benefits of car leasing.
In the last few weeks I have read some article online stating that leasing is not a good option now as, with prices falling so much, the value of the car you lease will be worth so much less when the lease is up, and you have the option to buy, that you will have no other choice than to begin a new lease?
As I say, I know nothing about leasing.
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That lease version is PCP, personal contract purchase. Meaning monthly payments and then a final purchase outright payment. PCH, personal contract hire, is the one that might make the most sense for certain users. It's more or less an extended rental agreement, subject to agreed mileage restrictions.
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History repeating itself, look what happened to car values during the last oil crisis events in 1973/1974 & 1979. A similar pattern is developing now.
In the 70's large and/or fuel hungry/inefficient cars dropped heavily in value and garages/private sellers found it extremely hard to find a buyer, whereas prices for smaller fuel efficient cars held up significantly better as a result of people switching to these type of cars.
CRV's/4x4/ etc. can expect to take a hammering if the oil price continues to stay high or increases in real terms.
Edited by MikeTorque on 19/08/2008 at 14:03
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A lot of panic & hysteria around at the moment, values dropping - well yes, but.. I've got a year old CRV that I'm very happy with and at between 30 and 40 mpg what's the point in p/exing it, losing a bundle and ending up in far less suitable vehicle just to save on fuel. Just last week I got a 2m. flat pack in the back, Ikea wanted about 50 quid for delivery last time I asked - that's over 1000 miles. Try getting that in a Corsa.
Get a grip and do the sums.
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Ikea wanted about 50 quid for delivery last time I asked - that's over 1000 miles. Try getting that in a Corsa. Get a grip and do the sums.
Umm. My sums make 50 quid for 1000 miles 5p a mile. At £1.20 a litre that's 60mpg.
Try getting that in a CRV.
More realistic runing costs for a CRV would be 50p a mile, which would make it cheaper to pay the 50 quid for delivery at anything over 100 miles round trip. Assuming your time is worth nothing.
Edited by audi dave on 19/08/2008 at 14:46
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Now fill in the rest of the equation Audi.
My ex still has her '97 CRV, over 200k and a faulty cruise control the only fault so far in ten years, try getting that with a Corsa, well a Corsa maybe, but an Audi - no chance!
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Umm. My sums ... More realistic runing costs for a CRV would be 50p a mile, which would make it cheaper to pay the 50 quid for delivery at anything over 100 miles round trip.
audi dave; you sums have left out how much would it cost the Corsa owner, who would have spent fuel and time to visit the store.
It is the marginal difference in total costs between the CRV and the alternative that you look at which matters when you do your sums.
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I was trying to highlight that staying at home and paying 50 quid for delivery may well be cheaper than driving - Corsa, CRV or Audi.
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I was trying to highlight that staying at home and paying 50 quid for delivery may well be cheaper than driving - Corsa, CRV or Audi.
In which case quoting 50p a mile for a CRV is wrong, because the standing costs of the CRV, Corsa or Audi will apply as you already own them, and that assumes that you were able to make your choice of the furniture and complete the order process online. I think you got your sums wrong and/or your argument in a twist.
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50 quid won't get you 1000 miles of motoring in a CRV however you look at it.
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It is all very good going down to a small car and getting better MPG/cheaper running costs but what about these:
Lose abliity to carry large loads as and when you like - be it to the tip, the DIY store, camping or surfing kit in the back, mountain-biking, etc.
Arguably less safe in an accident
Definitely not so good for your health if you are a tall or ''larger' person trying to cram yourself into a smaller car
Not so pleasant to drive on long trips and/or on motorway
Um, there must be more.
I just wonder how many people worrying about their fuel/tax costs on a CRV, MPV or whatever are going to sit down and discover that they can no longer afford the CRV but going for a smaller car is just impractical for their needs?
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