Luxury used car values
Discussion
a couple of years ago we saw used values of 6 series, SL's, cayenne's, bentley gt's, aston v8's et al all drop ridiculously in value. so much so that people are making a profit when selling them now or breaking even.
but, fuel is now dearer than it was back then and the economic outlook isn't much better - you could argue worse due to public sector cuts, tax rises, ni rises and so on.
BUT, from my little viewpoint I haven't seen these 'big' cars drop a chunk in value that much recently - is it because:
1. they are already cheap
2. the economic outlook isn't that bad
3. they are dropping i just haven't noticed
4. they will drop but people haven't had to pay their january tax bills and credit card bills yet and the tax rises in april are still to come so they may fall but will do so in the next 6 months.
5. some other reason
but, fuel is now dearer than it was back then and the economic outlook isn't much better - you could argue worse due to public sector cuts, tax rises, ni rises and so on.
BUT, from my little viewpoint I haven't seen these 'big' cars drop a chunk in value that much recently - is it because:
1. they are already cheap
2. the economic outlook isn't that bad
3. they are dropping i just haven't noticed
4. they will drop but people haven't had to pay their january tax bills and credit card bills yet and the tax rises in april are still to come so they may fall but will do so in the next 6 months.
5. some other reason
dave9 said:
a couple of years ago we saw used values of 6 series, SL's, cayenne's, bentley gt's, aston v8's et al all drop ridiculously in value. so much so that people are making a profit when selling them now or breaking even.
I noticed this too at the time.Don't forget, at the time, banks were collapsing and no one knew what was happening to the world economy - there was an air of un-certainty regarding banks, savings, jobs etc.
I really wished I'd bought at that time.
SpeedBash said:
dave9 said:
a couple of years ago we saw used values of 6 series, SL's, cayenne's, bentley gt's, aston v8's et al all drop ridiculously in value. so much so that people are making a profit when selling them now or breaking even.
I noticed this too at the time.Don't forget, at the time, banks were collapsing and no one knew what was happening to the world economy - there was an air of un-certainty regarding banks, savings, jobs etc.
I really wished I'd bought at that time.
I have however lost that 10 fold since... Karma and all that.
It's pretty simple really. Those cars that fell heavily in value 2/3 years ago became affordable for the masses which has supported prices. Since then new car sales of expensive cars has been far lower, so for anyone looking for a nearly new car of this ilk today supply is pretty restricted, keeping prices high.
Pints said:
frosted said:
I'm waiting for values to drop considerably next month so I can pick up a v8 . If they don't fall within my reach I'll have to buy a pious 
There's never an excuse to buy a Prius.Edited by frosted on Thursday 13th January 19:26
paoloh said:
Prices have firmed up massively.
CAP has risen for a few months now, fewer new cars being sold means less second hand ones coming to market.
Prices at Manheim Colchester today were very strong, anything clean and low mileage was miles over book one Q7 was £5000 over CAP clean.CAP has risen for a few months now, fewer new cars being sold means less second hand ones coming to market.
frosted said:
Pints said:
frosted said:
I'm waiting for values to drop considerably next month so I can pick up a v8 . If they don't fall within my reach I'll have to buy a pious
There's never an excuse to buy a Prius.Edited by frosted on Thursday 13th January 19:26
paoloh said:
Prices have firmed up massively.
CAP has risen for a few months now, fewer new cars being sold means less second hand ones coming to market.
added to the fact most of those in over their heads have by now handed cars back, which reduces the number of used cars coming on the market furtherCAP has risen for a few months now, fewer new cars being sold means less second hand ones coming to market.
I'm generally noticing that the affluent tended to hold onto their funds during the peak of the boom - I've a good number of clients who are now spending in order to maximise the value of their money
eldar said:
frosted said:
Pints said:
frosted said:
I'm waiting for values to drop considerably next month so I can pick up a v8 . If they don't fall within my reach I'll have to buy a pious
There's never an excuse to buy a Prius.Edited by frosted on Thursday 13th January 19:26
interesting points raised.
do you think that there may be a second dip soon.
for example the papers are talking of $120 a barrel soon which will equate to another 10p on fuel per litre and in april there is about another 7p coming on fuel due to the fuel duty escalator so that's another 17p on fuel by april so unleaded will be up around £1.47 per litre and diesel possibly up to £1.60 by april at motorway service stations.
do you think this will hit the big V8's or do you think the supply issue outweighs this?
I personally see a 'mini' crash again by april/may as oil starts rising due to fuel duty, demand and the american summer getaway and the vat rise and cuts begin to bite, but don't work in the trade and as you all say demand at auctions is firm
do you think that there may be a second dip soon.
for example the papers are talking of $120 a barrel soon which will equate to another 10p on fuel per litre and in april there is about another 7p coming on fuel due to the fuel duty escalator so that's another 17p on fuel by april so unleaded will be up around £1.47 per litre and diesel possibly up to £1.60 by april at motorway service stations.
do you think this will hit the big V8's or do you think the supply issue outweighs this?
I personally see a 'mini' crash again by april/may as oil starts rising due to fuel duty, demand and the american summer getaway and the vat rise and cuts begin to bite, but don't work in the trade and as you all say demand at auctions is firm
Take a look at the inflation-adjusted oil price graph on the link,
http://en.wikipedia.org/wiki/File:Oil_Prices_1861_...
The strong spikes in 1973 and 1979 killed a lot of big engines and the late 2000s spike looks equally aggressive. On the other hand big engines now are much more fuel efficient than they used to be.
The main thing which affects MPG is the weight of the car, not the capacity of the engine.
http://en.wikipedia.org/wiki/File:Oil_Prices_1861_...
The strong spikes in 1973 and 1979 killed a lot of big engines and the late 2000s spike looks equally aggressive. On the other hand big engines now are much more fuel efficient than they used to be.
The main thing which affects MPG is the weight of the car, not the capacity of the engine.
Ozzie Osmond said:
Take a look at the inflation-adjusted oil price graph on the link,
http://en.wikipedia.org/wiki/File:Oil_Prices_1861_...
The strong spikes in 1973 and 1979 killed a lot of big engines and the late 2000s spike looks equally aggressive. On the other hand big engines now are much more fuel efficient than they used to be.
The main thing which affects MPG is the weight of the car, not the capacity of the engine.
very interesting link.http://en.wikipedia.org/wiki/File:Oil_Prices_1861_...
The strong spikes in 1973 and 1979 killed a lot of big engines and the late 2000s spike looks equally aggressive. On the other hand big engines now are much more fuel efficient than they used to be.
The main thing which affects MPG is the weight of the car, not the capacity of the engine.
the muscle car market in america died a quick death in 1974 onwards really and every yank fan knows this so the 1973 spike is interesting.
very good graph
I bought new in the trough just under 2y ago
My own (inexpert) opinion was that when the cash dried up suddenly the luxury manufacturers were still churning out cars leading to oversupply of new expensive motors and also a large tranche of cars came off lease from people spending in the earlier good times
Or something as they say in Viz
Cheers!
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