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Monday night 8.00pm ITV1, Quentin Willson is hosting a "special" about car prices during the recession. Confusingly its called "Deals on Wheels"
Edited by Honestjohn on 12/01/2009 at 07:32
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Thanks for the tip, should be well worth a watch.
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Let me guess
"This is my L registered LS400, It has only done 640,000 miles and last year it was worth £700 but now thanks to the recession it is only worth £300"
Still worth watching although Tonight is not really aimed at the more deserning viewer really. It is all rather moanworthy like a certain news paper which I shall not name (not the Telegraph)
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Lets hope he gets the message across that swapping a vehicle with high annual road tax might not be cost effective if the cost to change is thousands.
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Lets hope he gets the message across that swapping a vehicle with high annual road tax might not be cost effective if the cost to change is thousands.
You want to deprive other folks of bargains?
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>You want to deprive other folks of bargains?
Exactly right NW.
If people begin to realise that V8 and V12 motors are not as expensive to run as they thought the bargains are going to disappear.
Have you seen the price of used CL600s recently?
Kevin...
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I was thinking of numpties trying to downsize to get £0 or £35 road tax but paying thousands to do so.
Now NW would never have a V8 let alone V12 ;-)
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Rattle - are you one of the more 'deserning'? :O)
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Oh dear, motoring programmes clashing. Count Dracula or the Wookie ?
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Nothing so modernist here. We've only just got Ch 5 working !
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Sky+ is not that good if there are three things you want to watch at the same time. Virgin Media V+ is better ;-) Little HD content though.
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"Eh?"
If you have three things to watch that clash then V+ lets you records two programmes and watch the third at the same time. It has three tuners. You can also be watching a live/recorded programme and be archiving old ones to VHS/DVD at the same time due to two decoders.
... and pause/rewind live TV. Have video on demand from BBC, ITV, Channel 4, etc.
It's rare when there's three things on worth watching at the same time even with all the channels ;-)
Rob
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With my current PC setup I can simultaneously record all Freeview channels, one Sky and one Freesat (inc HD). Mind you there is so much rubbish, it is hardly worth it, Fifth Gear, impossible as it sounds, is getting worse - "wicked", "Awesome", "Amazing"..
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If Quentin Wilson is hosting it sounds like a good reason to miss it.
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£5200 for a two year old Saab estate at auction - it could have 150,000 miles on it for all we know!
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Just watched it on our Sagem PVR, its a freevieew one is the 5th one we have had in 6 months, this one is brilliant though as it works.
Anyway back on topic.
Seeing that Punto for £1800 has shocked me a bit it really does make me think twice at spending any more on my Fiesta. I felt the Ford Ka was too pricey at £1500, it was a ten year old and basicaly is identical to mine mechanicaly, it did look rather rust free though. Quentin got his facts wrong though, they came out in 96 not 97 and as Ka's rust so badly I am not sure it had many years life left in it as he made out! It did have very low milleage though.
I don't really feel sorry for anybody with those large 4x4s, if they did the research before buying they would have realised it did 20mpg and costs £250 per tyre.
I think I need to spend a day in the dealers to see what my cost to change would be. With that Rover man I just see me stubenly keeping an old banger because I don't want to get into debt even though I can afford a nicer car.
Anyway back on topic - well done Rattle
Edited by Pugugly on 12/01/2009 at 22:28
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£1500 for a ten year old Ka sound way to expensive. Not watched it yet - was it really ten years old?
What age was the Punto? My wife's Seicento (low mileage though) has been surprisingly reliable. A few dings in paintwork and scratches from getting her bike past it in the garage but it's in excellent condition for 8 years old. Probably worth very little now.....
Not suggesting you get a Seicento mind - she does very local trips. Although the Mx-5 that hit it in 2004 came of worse - it snapped it's front axle!
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Sorry getting my plates mixed up, it was a 2001 as pointed out below or above.
Still getting on for 8, 9 years old though and my ex's W reg Ka was so rusted by early 2008 it I could see four different perscribed MOT failure points. There was nothing left of the front cross members.
The Punto was a 54 reg ELX spec from the look of it, had 64k on the clock though which means its not really a mile muncher but ideal for a low milleage city car. I have nothing against FIATS, my dads Punto was always very reliable.
The Ka did look in good condition though and it did appear to be a higher spec one.
Basically though all this programme did is encourage people to sell their old big cars and get smaller new ones, which will probably cause even more problems for the used car industry :(
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"Basically though all this programme did is encourage people to sell their old big cars and get smaller new ones, which will probably cause even more problems for the used car industry :( "
Which I wondered about yesterday - see above.
If there is a cost to change (and you're happy with your big car) the alternative of not changing might not cost any more. Especially with low mileage. My wife's Seincento still has just over 22,000 miles on it. In 12 months it still will have a lot less than 25,000 miles. He use of the car has plummeted but the car still needed.
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Well this point was indirectly made, and they included the cost of change in it and did work out cheaper to downsize even when somebody still owed £11,000 on a car that was worth £5k. It was all made for TV though and you got the impression it was heavily edited.
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It was tabloid telly. What frightened me though was the potential for millions to be in "negative equity" (which is a nonsense term in car terms but hey !) with their loans - this could sink a lot of people especially if mortgages become the choice to pay off - we're looking over an abyss guys.
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The same people probably bought 2 bed flats in Manchester city centre for £250,000 and are now wondering why its worth £150,000 - could it be that there is still another 12,000 empty flats?
The real picture is quite worse though with interest. Buy a £12,000 merc M class at 10% APR in Jan 2008, how much would the interest have grown by Jan 2009? On top that the car is now worth less than half that :(.
It will be the banks that suffer when these people go under with their massive debts, the same people are the ones that will probably loose their jobs too. On these terms the recession will get a lot worse before it gets better.
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You owe (still) £11k and the car is worth £5k. Fuel, insurance and road tax are the least of your worries.
I fear too many overstretched and will not suffer - I hope not.
PU, I have to agree there cannot be a concept of negative equity on a car as such. If you buy a car on finance or not it's immediately worth less. The assumption has been houses go up. In 8 years ours went up more than 200% in value! Stupid figures. But it will be down now.
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Sorry, chaps, I beg to differ. In theory it could happen, just the same as on a house... you buy a car for £4k, put in a grand and take out a loan of £3k... the car value goes down quicker than usual and you end up with a car worth less than the loan... hence negative 'equity'.... in theory NE can happen to any purchase you make... just that a car, like a house, is a large purchase and therefore more visible than others.
I did think that they looked for the worst example they could find for the programme... probably just went around all 4x4 owners until they found a sucker who'd agree to get his '15 minutes of fame'... and look a right idiot in the process... you had to feel sorry for him, though...
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And that is why this country is financially in the state it is. Too much credit. He was always going to take a hit on a second hand 4X4 even before prices slumped.
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And that is why this country is financially in the state it is.
No disagreement there, FC... I've worked hard over many years to clear all my debts except for the Mortgage and now I've got to that position I'm getting damn all on my savings... and yet the Gov seem to be bending over backwards for those who spent freely and irresponsibly... very annoying!
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Likewise. I've built up to where I am as regards cars. Factoring in affordable depreciation to what I can then afford to pay the next time I upgrade. An 11 grand loan would not be on my radar. I wonder if that included interest payments because if it didn't the purchase would have been madness? But it was his choice.
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I felt the Ford Ka was too pricey at £1500 it was a ten year old
The ka in question was a 2001 (y) and at £1400 a bargain in my opion
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The ka in question was a 2001 (y) and at £1400 a bargain in my opion
I would have thought that the Ka was maybe a little overpriced. 2002 and 2003 models with 40-50k miles are going on Autotrader from dealers for £1400
Chris.
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That Kia Cerato was the real bargain on the programme. Unbelievable value. So much more car than that Ka, for very little more money.
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Anything new bought with 0% deposit will immediately be in negative equity.
Sofa, car, new-build flat.
It makes perfect sense: if you sell it, you still owe money.
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Tonight - er....tomorrow night !
Prize for oddest title to a thread in 2009 goes to Pugugly [beating Angelina, Kate, Slumdog, etc.].
Edited by jbif on 13/01/2009 at 09:59
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