Current market
Discussion
Ed.Neumann said:
I can't answer your question, but the point I was trying to make is you are a bit of an exception.
Not many people have £40,000 to put down as a deposit on a car, hence even if they want to buy the 10 year old car they can't.
That was my point.
It's a valid one. A couple of years ago you could borrow £25k at below 4%. Now your interest will be double. Going above 6% makes no sense once you borrow for more than 24 months. For me, that is. Not many people have £40,000 to put down as a deposit on a car, hence even if they want to buy the 10 year old car they can't.
That was my point.
Edited by Ed.Neumann on Saturday 8th June 11:28
g7jhp said:
Venosta said:
bennno said:
I recall buying 4 y/o 997’s with 30k miles for £35k in 2010 or thereabouts.
Bit expensive plus cost of borrowing is slowing demand significantly in the market, as it was intended to.
Although £35k in 2010 is around £56k in today's money..from one of the online calculators:Bit expensive plus cost of borrowing is slowing demand significantly in the market, as it was intended to.
"£35 in 2010 is equivalent in purchasing power to about £56.24 today, an increase of £21.24 over 14 years. The pound had an average inflation rate of 3.45% per year between 2010 and today, producing a cumulative price increase of 60.69%."
Something I always forget to mention when explaining to my wife how our cars have retained their value
£10,000 is £14,926
So basically 50% extra.
I don't think many people sit down and work out the buying power of their wages today compared with years gone by.
The reality is, if we keep inflating everything, we can get everyone in a debt trap and make trillions from it. Inflation is a stealth tax.
This is over a decade old but becomes more relevant every day....
https://www.youtube.com/watch?v=iFDe5kUUyT0&t=...
The inflation part starts at 9mins 40 seconds. 8 minutes long and well worth watching.
stuckmojo said:
It's a valid one. A couple of years ago you could borrow £25k at below 4%. Now your interest will be double. Going above 6% makes no sense once you borrow for more than 24 months. For me, that is.
I don't think the borrowing £25k is even the problem, the issue is £25k is no where near enough anymore. We are now seeing personal loans up to £35k being the norm looking at my clearscore and experian offers. But even with £35k you're still going to need another £50,000 to get into a 4 year old 911. You're going to need another £15-20,000 to get into a 9-10 year old one.
And as you say, at 9% apr.
Ed.Neumann said:
I don't think the borrowing £25k is even the problem, the issue is £25k is no where near enough anymore. We are now seeing personal loans up to £35k being the norm looking at my clearscore and experian offers. But even with £35k you're still going to need another £50,000 to get into a 4 year old 911.
You're going to need another £15-20,000 to get into a 9-10 year old one.
And as you say, at 9% apr.
Fair point. I just went on the BoE calculator - which underestimates inflation in my opinion, and even 2020-2024 is adding 20%. You're going to need another £15-20,000 to get into a 9-10 year old one.
And as you say, at 9% apr.
The £32K 997.2 in 2020 is now £39500 - which buys you a lower end of the market 991.1
Wages haven't gone anywhere near closing that gap
What would the list be on this GTS?
663 miles, owner clearly enjoyed it....
https://collectingcars.com/for-sale/2024-porsche-9...
663 miles, owner clearly enjoyed it....
https://collectingcars.com/for-sale/2024-porsche-9...
Sukh13 said:
What would the list be on this GTS?
663 miles, owner clearly enjoyed it....
https://collectingcars.com/for-sale/2024-porsche-9...
Whatever list is, the sold price (for the spec it has) makes the new .2GTS seem all the more expensive.663 miles, owner clearly enjoyed it....
https://collectingcars.com/for-sale/2024-porsche-9...
Good value compared to this [PDK]
https://collectingcars.com/for-sale/2024-porsche-9...
https://collectingcars.com/for-sale/2024-porsche-9...
Edited by Mogul on Monday 10th June 21:35
Mogul]Good value compared to this [PDK said:
same car?Porsche-worm said:
With 207 already registered and more on the way these aren't anywhere near as rare as it was thought they would be at the start. I'd be pretty pissed if I had paid overs for one or bought a Taycan and a Macan to get on the list!
Depends what you define as rare. I would call just over 100 cars a year from nearly 50 UK OPCs since start of production fairly rare and this number was exactly as expected.Both my OPCs are receiving just 2 more build slots each for the SRS and GT4 RS for this year and a similar low number next year until both models end production simultaneously in May/June.
Ive just picked up a new T manual on a decent discount and have been following the lightly used and new market for a couple of months. I'm intrigued by a twelve month old car in Exeter OPC that was originally listed at £104k a couple of months ago that was quickly reduced to £94.9k and has suddenly jumped to £95.9k! I'm guessing it's about the number of available cars, but it's a bit choppy out there.
Sukh13 said:
What would the list be on this GTS?
663 miles, owner clearly enjoyed it....
https://collectingcars.com/for-sale/2024-porsche-9...
That’s been through once or twice before…failed to sell. I guess this time they took the medicine. 663 miles, owner clearly enjoyed it....
https://collectingcars.com/for-sale/2024-porsche-9...
Blue62 said:
Ive just picked up a new T manual on a decent discount and have been following the lightly used and new market for a couple of months. I'm intrigued by a twelve month old car in Exeter OPC that was originally listed at £104k a couple of months ago that was quickly reduced to £94.9k and has suddenly jumped to £95.9k! I'm guessing it's about the number of available cars, but it's a bit choppy out there.
I would guess that there are a combination of factors.- This should be the optimal selling season, with 4-5 months of long days and dry roads ahead
- Although rates are still quite high, economic and political confidence seem surprisingly stable
- The forthcoming 992.2 doesn’t appear to have generated a new wave of excitement
- It’s more money and probably won’t start arriving until we are approaching winter
- Seems some people are preferring the .1, especially if manual is important
- There is stock and deals to be enjoyed, but this will presumably diminish
av185 said:
Simply auto price tracking other cars which sell.
Is that how autotrader works for a dealer, does it adjust its price based on other cars advertised? How would autotrader know when a car is actually sold and for what for, this information would need to be given to them buy every seller?
Blue62 said:
av185 said:
Simply auto price tracking other cars which sell.
Does auto price tracking know the actual sale price or the advertised price? I chipped £5k off the advertised price by the time we struck a deal. Algorithms will guage the period advertised the price and when withdrawn or sold relative to all others similar on the market at that time. Most consider the spec and mileage.
So if a car was sold for say AP £150k within 2 days it will assume a sold figure at or close to the AP.
Blue62 said:
Does auto price tracking know the actual sale price or the advertised price? I chipped £5k off the advertised price by the time we struck a deal.
Surely auto price can't track that.Don't see why any dealer would share that data - they are not going to want others (dealers or customers) to know that a car was advertised for x and only sold for x-5k. I would imagine they keep that data for themselves.
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