Interesting post on Piston Heads. (With photos)
tinyurl.com/5h3end
Some sharp intakes of breath I would imagine.
(Mods..hope this isn't breaking any rules)
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Perhaps you could persuade V8mate to come over from the Dark Side to join us ;-)
The 2005 55 Saab 9-3 1.9TiD Vector [120] 86k making just £3,250 provisional was pretty cheap, surely? Sharp intake of breath on my part.
Edited by oldnotbold on 20/11/2008 at 20:15
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I'd have that Audi A6 3.0 Quattro - or maybe the XKR, or maybe the .....??
Are prices going to go lower?? If so, some real bargains around and what I would consider real "exotics" are going to be within reach!!
Now, do I buy a new Berlingo for £14k or an Audi A6 for £8k or so? Now what would you say??
Phil
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The Berlingo comes with an internal roof-rack for your snowboard. Then again, your snowboard will look better on the back seat of an A6 with a blonde sat in the front passenger seat! Or something like that.
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"a blonde sat in the front passenger seat! Or something like that. "
My wife is blonde - and looks beautiful in any car (he wrote as his wife came into the room asking "are you writing rubbish on Honestjohn again?")
Not sure about the snowboard - to old for that sort of kneee-shattering stuff - the knees went years ago! Plenty of room for wine boxes from France in the Audi though!
Phil
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I'd have the Audi A6 too... I know someone who bought one new (well pre-reg) on an 05 plate back then it was significantly more than that. I know this is an auction but some of those cars were "cheap".
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Looking at those prices makes me feel much much better about the £1000 I got at auction for my Fabia last week.
It's almost a nice feeling to be looking for a replacement for it now.
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I'm rather more interested in the 'story' behind these cars. Each one represents, ultimately, a destruction of capital for some unlucky punter. Presumably many of these cars would have been bought within 5-8% of manufacturers price - although some may be slightly cheaper ex-lease etc.... whatever. It isn't just a transfer of money to somebody else, but a simple anhiliation of equity - nobody's making money from these, just losing it.
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I would have taken the 2005 05 Audi A6 3.0 TDi Quattro SE Tip Auto. 68k. £8,000. Might pop to BCA next week.
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>>It isn't just a transfer of money to somebody else but a simple anhiliationof equity - nobody's making money from these just losing it.
That's a really good point. There's an interesting cultural effect of these kinds of price collapses too, in that cars like the XKR are now at normal prices for a new hatchback. There's no status in them any more, unless you count the "I can afford to lose £20K a year" bragging rights, which is just stupid. This changes the very basis on which consumer capitalism works; namely the idea that you are buying something special that others can't afford or at least don't have. It's a cultural and social crunch as well as a credit crunch and I guess this works across the range of cars too. Suddenly these status symbols are commodities. I have no use for a car like that (the twin exhausts would interfere with the obligatory tow hook), but I'm seriously tempted; more so by the A6 Quattro though. They'll be almost worthless soon and then people who can't afford to run them will buy them and ruin them.
Incidentally the 'no interest' flags on those cars do resonate with the 1930s when in the USA at least used car dealers were literally giving them away. I'm quite shocked by this report actually.
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I'm surprised too. A year ago (Plus a few weeks) I got a new Mazda6 2.0d Sport (the previous model) which list price was about £19k. What's it really worth now! Not my problem as it's a lease/company car but it makes you wonder!
I know so many that opt out of the company scheme and take the money (I could) but I couldn't make the figures tell me it was worth it. If prices plummet then I made the right choiceI think.
Edited by rtj70 on 21/11/2008 at 00:22
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I think it depends on the day and the auction. For example, there was a BMW auction at BCA Nottingham yesterday and whilst some cars (3-Series mainly) were struggling some were fetching bonkers prices. Even supposedly "unpopular" 4x4 X5's had people fighting over them - one which booked at CAP 11100 sold for 13000. Cars with the right spec all went over book and there were hardly any provisionals in the whole auction.
On the other hand, there was a Lex sale at Blackbushe last week where they literally couldn't give cars away (and they were selling as they'd obviously been told to accept any bids).
As ever, model, spec, colour and retail appeal are all. If a car ticks those boxes it'll still get strong bids but anything which doesn't quite hit the spot (basically anything a bit ordinary in colour/spec/condition) gains no interest at all.
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Oh, and on the Saab. Judging by the problem most seem to have by 86k I think £350 would have been too much for me. It was also from Fleet 100 - probably an Argos car or similar. No thank you very much.
A6's are cheap because there are too many about and the 3.0 is not the model anyone wants. They also need leather, satnav and bigger wheels on the 05 models to have any retail appeal.
3 year old ex-lease cars may get a bit more expensive in the new year as there were less 06 plate cars bought by lease companies than 05/55's but time will tell.
One interesting thought is that if the economy picks up in 2010 used cars may get very expensive in about 2012 when demand will suddently go high but there will be very few 2009 cars around. This happened in the late 90's when there was a lack of 1991-1995 cars to satisfy demand.
Edited by pd on 21/11/2008 at 10:04
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Out of curiosity, what happens if a leasing firm goes bust? Are all the cars they have, which are leased out to drivers all over the country for different firms etc, all recalled and sold as assets? Or do the lease firms actually only "lease" these direct from manufacturer?
Just curious!
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Or do the lease firms actually only "lease" these direct from manufacturer?
They're all on finance from a bank or similar.
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Sounds great HJ. Trouble is in my case the call might cost more than the car is now woirth !
:-(
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"One interesting thought is that if the economy picks up in 2010"
Nice idea.. add 5 years.
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To add my 'This weeks auction bargain'...
07 Range Rover Sport diesel - didn't check full spec, but 13k & sold £21700 in Derby, on Wednesday.
Why I was looking at overpriced Toyota Celicas, for a customer, I just do not know, with a fine selection of already mentioned fleet choice...
VB
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Another good write up by the PH chap.
tinyurl.com/6k8yme
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Just a note on the X5, I have been looking for one for a customer and had spotted it in the catalogue but it was a manual hence the low price.
3.0 D Autos with the right spec are still fetching £1000-£2000 over book. Goodness knows why but they are.
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3.0 D Autos with the right spec are still fetching £1000-£2000 over book. Goodness knows why but they are.
I was thinking drug dealers replacing impounded cars, but then I don't suppose they buy the diesels.
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Did you see that Jag XJ !!!!!!????
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