Price Used prices

[terry]

I wonder if the used prices are holding up as much as Honda expected?
A quick look on Autotrader shows a 2.2 sport 2007 07 plate with 29k miles under £10k!
I thought the predicted value was around 55% after 3 years.

Terry

[NEEMSTAR]

30k mileage in a year is not "average" so that is to be expected on the car you mentioned.

Also taking into account the recent fuel bills, not many cars are going to hold value as people start to buy smaller and cheaper cars to run.

[minisweeper]

Agreed - 29k is fairly high milage. Under 10k still seems pretty cheap though.

I guess resale prices will pretty much always be a kick in the balls as you never get as much as you'd want. If 55% is accurate and I can get £11.5k for mine in a years time I'll be pretty chuffed though

Granted with the fuel price comment - then again our cars are some of the best on the market economy wise without moving to something even smaller like the Jazz etc which is much less useful for a full family. I'd also imagine that a couple more people are looking towards the second hand market when they come to buy as they can't afford the loss a new car involves so it could be a good thing...

[cp794]

I was looking at part exchangeing my type r gt, 07 with nav and hft, against an Audi TT, and was offered £13,000, which I was gobsmacked at with less than 10k on the clock?

Values are definitely not holding up at the moment, which is only to be expected in the current economic climate.

[Kremmen]

Dealers will never offer what a car is supopsedly worth at the first hit. They will always 'try it on'. "What do you think your car is worth sir?"

I have nearly always had to walk out to get them to recalculate. I just politely tell them that they have broken my budget so I will see them in a years time. They then ask what my budget is and I always have a figure on a post-it note tucked in my pocket which I have previously calculated. So far they have always managed to oblige.

I usually work on the RRP - £1K plus the figure shown on the Parkers website. If you can get that figure then I think you have done well.

[Doubtingthomas]

Originally Posted by cp794

Values are definitely not holding up at the moment, which is only to be expected in the current economic climate.

When have values really held up?

There is only one winner in this game and it ain't the customer, no matter how good a deal he/she thinks he/she has obtained.

It is going to be very interesting to see how the market reacts to the ever increasing cost of fuel. I think we all know there has been a significant drop in the sale of 4x4's of late.

[HappyMan]

If fuel prices continue to rise at the rate they have been then second hand car prices are going to drop like lead, especially if you have a larger engined car.

Second hand values are never what you think they will be as there is always some 'factor' that means it's lower than predicted.

[DeanFYoung]

There are also a lot of Civics around now....maybe used models are starting to flood the market???

[Pottsy]

Some trade guides predict an overall drop in used prices by up to 30% by the end of the year.

Here is this months analysis from Glasses:

Difficult market conditions will cause a firm downward movement in used car values with figures down during June by between three and a half and four per cent – a similar story to last month.

The types of cars currently being purchased by consumers are typically lower-medium cars that retail under £6,000. Dealers are responding to this demand by acquiring the best condition examples of these types of models to avoid incurring the time, cost and aggravation of getting sub-standard cars prepared.

Furthermore, the abundance of premium-brand used cars three years old and beyond, is providing more choice, with the result that attention is being diverted away from the run-of-the-mill examples.

Even though difficult trading conditions have been evident throughout the first quarter, we believe that recently they have reached new heights of importance. The values of high emitting and fuel inefficient cars are also looking more vulnerable, not just because retail demand for them has suddenly declined, but because the trade is anticipating a greater adverse reaction from customers any time soon.

It is very difficult for dealers to see where any improvement in retail demand is likely to come from, especially as we approach the traditionally quieter summer months. Accepting that the continuation of difficult trading conditions is the most likely scenario, dealers will be resigned to doing the important jobs better, such as focusing on competitive pricing and strict stock management.

Also:

http://www.telegraph.co.uk/news/2099...this-year.html

[angie4m]

Originally Posted by Doubtingthomas

When have values really held up?

When I had my Mini they could be sold for more than they were bought, I also sold a 6 year old Mini for 4K less than I bought it 6 years previous with 62,800 miles on it. I know that I will never see a residual like that again.

Only time residules hold up is when there is too much demand for the car and not enough supply like the Mini and the orginal TT. Mini were actaully telling folk they couldn't even order for 8 months then there was a 3 month wait to get the car once the order was placed so if you didn't want to wait you bought second hand for funny money!

I can only but imagine what it must be like for the Focus ST, it was supposedly only worth 35% of its original value 3 years down the line......wonder if its worth anything really?

[harleyfatboy]

You either ride the wave or lay on the board .....small print dont just apply to contracts...remember shares go up as well as down ...just like life....its called s#;t happens....ON A STEEL HORSE I RIDE

[KEN BYE]

You can bet your bottom dollar when you come to trade your car in i'ts either the wrong model, colour, or the time of year nothing is ideal.

[HappyMan]

Originally Posted by KEN BYE

You can bet your bottom dollar when you come to trade your car in i'ts either the wrong model, colour, or the time of year nothing is ideal.

Very true

[Doubtingthomas]

Originally Posted by HappyMan

Very true

I'll second that!

[Dimplyred]

It's best not to think about it until you are ready to change your car, I find it just spoils your enjoyment.

[angie4m]

Originally Posted by Dimplyred

It's best not to think about it until you are ready to change your car, I find it just spoils your enjoyment.

And we both know DR that when the time comes for a change with our cars nobody will want them proabably so i've resigned myself to the fact that i'm going to be keeping mines forever

It will get a respray and live in a garage as a thing of beauty!

[cb550]

Originally Posted by Dimplyred

It's best not to think about it until you are ready to change your car, I find it just spoils your enjoyment.

Your'e right,I've always said/believed you can't put a price on enjoyment e.g. a memorable night out and back home with empty pockets-so what;same with cars,my 147 Alfa was brilliant and although it cost me at trade in time that was ok because I enjoyed that car