Has the used car market crashed?
#1
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Has the used car market crashed?
...Or is it just Scoobs? Had mine up for two weeks now, on 'for sale' on here, Pistonheads and Autotrader without so much as a phone call. I've slowly dropped the price from an initial £4.2k down to £2995 with no interest whatsoever! I'm stunned - it's a superb car, despite its somewhat leggy 114k, and serves me proud. Only reason I'm selling is financial constraints. But perhaps everyone else is feeling the pinch too, and that's why?
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the entire car market has crashed, new and old, sales down 42%
no matter how good or how cheap a car is, if nobody wants to buy right now, it will remain unsold...
no matter how good or how cheap a car is, if nobody wants to buy right now, it will remain unsold...
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...Or is it just Scoobs? Had mine up for two weeks now, on 'for sale' on here, Pistonheads and Autotrader without so much as a phone call. I've slowly dropped the price from an initial £4.2k down to £2995 with no interest whatsoever! I'm stunned - it's a superb car, despite its somewhat leggy 114k, and serves me proud. Only reason I'm selling is financial constraints. But perhaps everyone else is feeling the pinch too, and that's why?
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£4.2k is dream world for a legacy with 115k on the clock. Type into auto trader that price and mileage and see what cars you could have for the price. My advice to you is hold onto it. My wifes ford KA 1.3 2002 with 36,000 miles on the clock is probably worth more than your car in the current market.
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It's not a Legacy, it's a MY99 Impreza.. very nice motor, despite its 114k - those are entirely my motorway miles. I've spared no expense on oil changes every 4k and meticulous servicing. Surely £3k is a fair price? Or should I expect nearer £2.5k?
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Just hold onto it mate. Unless you want to swap for a KA 1.3 with 36,000. Does about 50 to the gallon.
#9
There are already several threads on this.
Small cars are making good money, especially small Diesels. Thirsty and expensive to run cars become 'monuments'. I think you'll really struggle to shift it. And things won't be getting any better in the short-medium term. I think things will get even tighter after Christmas. Good time to be buying, very bad time to be selling.
Small cars are making good money, especially small Diesels. Thirsty and expensive to run cars become 'monuments'. I think you'll really struggle to shift it. And things won't be getting any better in the short-medium term. I think things will get even tighter after Christmas. Good time to be buying, very bad time to be selling.
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...Or is it just Scoobs? Had mine up for two weeks now, on 'for sale' on here, Pistonheads and Autotrader without so much as a phone call. I've slowly dropped the price from an initial £4.2k down to £2995 with no interest whatsoever! I'm stunned - it's a superb car, despite its somewhat leggy 114k, and serves me proud. Only reason I'm selling is financial constraints. But perhaps everyone else is feeling the pinch too, and that's why?
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Thats my point: I dont think that we have seen half of it yet. Even a U turn by the inept government cant save 'large' cars as things are...
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Sad days for selling a performance car and has been this way for a while . Really impress in the selling that it falls into the cheap tax bracket (if you haven't done so already) as it a pre March 2001 model.
Personally I'd try and keep it but I don't know your circumstances for selling.
Good luck matey with the sale.
Personally I'd try and keep it but I don't know your circumstances for selling.
Good luck matey with the sale.
Last edited by wolfie28; 06 September 2008 at 02:58 PM.
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With petrol prices being so high as well as servicing costs for Imprezas people are just not interested. Went out in a friends 1.9tdi Punto. My Impreza is louder, faster, much more racey. But when you consider the difference in running costs, and the fact that the Punto is not exactly slow, you can see why people just prefer them.
In real world driving its not that much slower, but it does cost half as much to run, if not even less than that!
In real world driving its not that much slower, but it does cost half as much to run, if not even less than that!
#19
its the media thats created this, we wont enter a reccession for 2 simple reasons, theres way to much demand for houses, and theres to much demand for food etc. which in turn gives people jobs etc etc, you know the cycle. the only people that have caused this problem is the government with tax prices on fuel and road.
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I had my 05 STI PPP on Pistonheads for weeks. 1 no show, 2 emails, then nothing. Lowered the price from £12,750 to £12,250 for another week or so, still nothing.
Spent £75 putting it on Autotrader.......... Sold it within the week
Just wish I hadn't payed to advertise it in the mag now. No phone calls from the mag. All from viewing on the Website.
Spent £75 putting it on Autotrader.......... Sold it within the week
Just wish I hadn't payed to advertise it in the mag now. No phone calls from the mag. All from viewing on the Website.
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sold my evo viii mr in less than a week for near on full asking price must have been lucky. tbh i paniced and jumped on the credit crunch selling up band wagon!
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I started asking for £14,250 in June and am now asking £10,495...
https://www.scoobynet.com/private-sa...-10-450-a.html
https://www.scoobynet.com/private-sa...-10-450-a.html
#23
I've just picked up a mint, premium 4x4 on a 53 plate with the right miles, FSH, tax, new MOT, etc, for just 20% of what the first owner paid - and I've got the sales invoice which is how I know!
I wouldn't have got it so cheap if it was a diesel but on the mileage I will do in this car it would have taken 12 years for the extra money to pay for itself and who wants to stand at the smelly derv pump or listen to knocky motors - certainly not me.
And I don't think we've seen the bottom yet - just like house prices which have got at least another 15% to go. Others think that it will be another 30% but I have my doubts on this number.
Values will not climb again to 2007 levels until 2016 according to one agent in the papers today.
I sold at the top of the market and am now renting and just watching my next house get cheaper by the day!
The only downside is that my money in the building society isn't getting the interest rate it deserves as the building societies cover their costs by increasing their mortgage rates to borrowers faster than their interest rates to savers so opening up a nice little profitable gap for themselves.
Anyway, I'm not complaining as overall I'm going to do all right.
Sorry if that p*sses some folk off who are now looking at negative equity, but I got lucky with this recession ... unlike the last one in the early 80's when I had to sell to relocate and then got caught by a rising market when I wanted to buy.
I wouldn't have got it so cheap if it was a diesel but on the mileage I will do in this car it would have taken 12 years for the extra money to pay for itself and who wants to stand at the smelly derv pump or listen to knocky motors - certainly not me.
And I don't think we've seen the bottom yet - just like house prices which have got at least another 15% to go. Others think that it will be another 30% but I have my doubts on this number.
Values will not climb again to 2007 levels until 2016 according to one agent in the papers today.
I sold at the top of the market and am now renting and just watching my next house get cheaper by the day!
The only downside is that my money in the building society isn't getting the interest rate it deserves as the building societies cover their costs by increasing their mortgage rates to borrowers faster than their interest rates to savers so opening up a nice little profitable gap for themselves.
Anyway, I'm not complaining as overall I'm going to do all right.
Sorry if that p*sses some folk off who are now looking at negative equity, but I got lucky with this recession ... unlike the last one in the early 80's when I had to sell to relocate and then got caught by a rising market when I wanted to buy.
#24
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its the media thats created this, we wont enter a reccession for 2 simple reasons, theres way to much demand for houses, and theres to much demand for food etc. which in turn gives people jobs etc etc, you know the cycle. the only people that have caused this problem is the government with tax prices on fuel and road.
You must be living in a cave??? The buildings have seen massive amounts or people being paid off. Houses aren't selling as building societys are giving out mortgages and if you can get one they want a 25% deposit? I have had to take a 30% paycut just to keep working. The housing market is totally dead and as for food that is up 30/40% as compared to this time last year.
#25
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Just bought a scoob 2 week ago
2000 Wreg UK turbo wagon in mica blue, air con model
115k, 1 owner from new, FSH, standard, recent brakes, tyres, exhaust
unmarked and no wear on interior, exterior - lots of doors have been opened against it!
relatively well looked after (older chap) - headlight / spot covers, subaru hatch/boot mat
and I can't believe how well it drives for its miles, no rattles, still tight and corners well.
hopefully a MAF and aircon gas will sort out only probs
paid £1500 off a dealer
bought from autotrader website
is everyone more worse off or have they been watching too much doom n gloom credit crunch tv?
2000 Wreg UK turbo wagon in mica blue, air con model
115k, 1 owner from new, FSH, standard, recent brakes, tyres, exhaust
unmarked and no wear on interior, exterior - lots of doors have been opened against it!
relatively well looked after (older chap) - headlight / spot covers, subaru hatch/boot mat
and I can't believe how well it drives for its miles, no rattles, still tight and corners well.
hopefully a MAF and aircon gas will sort out only probs
paid £1500 off a dealer
bought from autotrader website
is everyone more worse off or have they been watching too much doom n gloom credit crunch tv?
Last edited by LeeMac; 06 September 2008 at 09:43 PM.
#26
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I sold mine 2 years ago and got £11k, 5 months later the new owner was forced into a sale and got less than £9k. The same car now would struggle to realise £6k. I bought a Skoda Fabia vRS which is a cracking little car. Nowhere near as quick as the Scoob, especially mine with the T25 suspension set-up, but amazingly quick mid-range considering the possible 60mpg. My first one cost me £9.2k and I sold it 8 months later for £9k after it had made me a living as a driving instructors car for 20k miles. My second one I bought for the same amount and was owned by my missuse before me. It's currently on 27k and would still fetch £7.5k. The day of Scoobs is dead right now I'm afraid. Looking from another direction, a mate ran an Ariel Atom for 2 years paying £41 for the spec he chose. He sold it on after 2 years of the most extreme car ownership there is (probably) for £39.5k. £1.5k depreciation in 2 years If I can ever stretch anywhere near a performance car in the future, that's what I'll aim for
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