Secondhand car price crash? (Vol. 2)
Discussion
r3g said:
Just type Kia EV fire or Niro fire into google and there's thousands of pages to read. Glancing through the results there seem to have been recalls for them and there's a bunch of lawsuits ongoing too.
https://www.autosafety.org/it-was-horrible-spontan... burning nicely!
https://www.carcomplaints.com/news/2022/kia-niro-h...
https://carbuzz.com/news/the-kia-niro-is-in-the-ho...
https://www.motorsafety.org/kia-issues-second-reca... yet another recall for fire
Is this not like typing in Vauxhall Zafira fire or BMW EGR fire as I recall both of those have a track record of burning.https://www.autosafety.org/it-was-horrible-spontan... burning nicely!
https://www.carcomplaints.com/news/2022/kia-niro-h...
https://carbuzz.com/news/the-kia-niro-is-in-the-ho...
https://www.motorsafety.org/kia-issues-second-reca... yet another recall for fire
Edited by r3g on Saturday 1st June 10:08
There is alot of myths and false information regarding BEV, one of those is the increased risk of fire
https://www.fleetnews.co.uk/news/tusker-fleet-data...
We have lived with one for 3 years and there is nothing wrong with them, clocking up over 40k miles does take some forward planning and a couple of compromises but the car itself has been faultless with the exception of 1 piece of work under warranty to fix the charging port. The more people who experience them will see them for what they are, like everything in life they will not suit everyone or at least at the minute they won't but things keep improving and those blockers are being removed.
https://www.fleetnews.co.uk/news/tusker-fleet-data...
We have lived with one for 3 years and there is nothing wrong with them, clocking up over 40k miles does take some forward planning and a couple of compromises but the car itself has been faultless with the exception of 1 piece of work under warranty to fix the charging port. The more people who experience them will see them for what they are, like everything in life they will not suit everyone or at least at the minute they won't but things keep improving and those blockers are being removed.
It’s just another one of those myths that get banded around, look at r3g above, he’s got so worked up and confused by it all that he can’t tell the difference between an EV and a hybrid.
I blame the Daily Mail, their demographic read this stuff and believe it as they believe the paper only prints the truth.
I blame the Daily Mail, their demographic read this stuff and believe it as they believe the paper only prints the truth.
macron said:
That's interesting, do you think those with these on the forecourt will be pricing down? Or will that take a while as it's new stock that should be cheaper, so it's when people think they have stuff hanging around they'll re-price?
I'm about to pay over the odds for something with no roof, stupid idea at this time of year, but at least I know I'm getting screwed!
All dealer group and dealers in general have their own policies. The ones using Autotrader pricing will be reducing as the algorithm reduces, other may stick to their prices but ultimately will have to reduce prices as new money stock filters through but ultimately depends on stock policy.I'm about to pay over the odds for something with no roof, stupid idea at this time of year, but at least I know I'm getting screwed!
As for soft tops, they do slow in the winter but prices don’t really drop, they just sell quicker in the spring. If it’s something you like and the price suits you should get it bought.
rs4al said:
Been looking for an Audi SQ5 and have noticed some dealerships pricing strategies are interesting.
One listed an SQ5 for £48k and now it’s gone up £1.5k!
How’s that work?!
They have software that tracks prices of similar to keep theirs among the cheapest.One listed an SQ5 for £48k and now it’s gone up £1.5k!
How’s that work?!
No need to give away £1.5k of profit if they don't need to
Auto810graphy said:
All dealer group and dealers in general have their own policies. The ones using Autotrader pricing will be reducing as the algorithm reduces, other may stick to their prices but ultimately will have to reduce prices as new money stock filters through but ultimately depends on stock policy.
As for soft tops, they do slow in the winter but prices don’t really drop, they just sell quicker in the spring. If it’s something you like and the price suits you should get it bought.
Thanks,As for soft tops, they do slow in the winter but prices don’t really drop, they just sell quicker in the spring. If it’s something you like and the price suits you should get it bought.
The AT algo as is being shown with this SQ5 is still reliant on competition - a Focus I still have saved from a non Ford dealer was at 17k, which was cheap for a 22 plate well specd low miles car. It was there because it hasn't sold. And had been there for ages. And is now 17.5, lol!
Just come across this video that Mclaren owners are getting annoyed that they won't take the car on SoR.
To me, this says there are people stuck in finance agreements that can't afford the £10k to get the work done on their car in order to prep it for sale, but they need someone to sell it for them to get out of the car. (as I assume £120k is a lot for a private sale where the money has to go to the finance company).
To me, this says there are people stuck in finance agreements that can't afford the £10k to get the work done on their car in order to prep it for sale, but they need someone to sell it for them to get out of the car. (as I assume £120k is a lot for a private sale where the money has to go to the finance company).
AlexNJ89 said:
Just come across this video that Mclaren owners are getting annoyed that they won't take the car on SoR.
To me, this says there are people stuck in finance agreements that can't afford the £10k to get the work done on their car in order to prep it for sale, but they need someone to sell it for them to get out of the car. (as I assume £120k is a lot for a private sale where the money has to go to the finance company).
Might be being ignorant here, but I'm very surprised that someone smoking around in a McLaren doesn't have £10k in ready cash to try and exit a finance agreement.To me, this says there are people stuck in finance agreements that can't afford the £10k to get the work done on their car in order to prep it for sale, but they need someone to sell it for them to get out of the car. (as I assume £120k is a lot for a private sale where the money has to go to the finance company).
RayDonovan said:
Might be being ignorant here, but I'm very surprised that someone smoking around in a McLaren doesn't have £10k in ready cash to try and exit a finance agreement.
I know someone who got a brand new Mclaren 570S for £1,200 per month, no deposit back in 2019. That's £57,600 across the 4 year term.Car was under warranty so just servicing to pay for on top.
From doing the delivery round on Friday to various dealers , Indis and garages this is the current consensus
New market is steady, dealers commenting it’s not crazy busy it’s not slow either.
Main issues on new market is people PCPs coming to an end and trying to find similar monthly payments.
And in regards to finding similar monthly’s the other issue is residual values have softened so not as much equity in PCPs at 3 or 4 years old so more pressure on monthly costs going up
Ford dealer has downsized some customers from Kugas to Pumas which from my experience is considerably smaller interior because they couldn’t afford higher monthly pcp costs.
Used cars, similar the best description is steady.
Some types of cars sell fast such as petrol 7 seaters (low mileage Citroen grand C4 spacetourer sell within days) or good spec SUVs under £8k, other cars sell slow (one indi cursed buying 3 Fiat Tipo 1.6 diesels which he can’t even trade on to break even, had 0 interest in them despite dropping the price and putting them front and centre of his pitch).
Main complaint remains the APR on finance, both main dealers and Indis complain it’s too expensive.
Customers don’t have the funds to put down big deposits to lower monthly costs.
Little interest in hire purchase finance, even when the monthly’s are close to a PCP quote, people don’t like the longer term to get the monthly costs down.
A sole trader / one man band indi garage who has a small pitch and is the sort of bloke I would never buy a car from does have a 23.9% APR with a finance firm, to pay that much interest on top of the used junk cars he sells is wild.
I hate dropping off at his place, takes him 20 minutes going through his ash tray and filling cabinets to club together £20 odd quid in slummy to pay for fuel filters and plugs.
Despite giving him an invoice which he already agreed to the price over the phone he still try’s to argue for a discount.
I digress, essentially the market is in a similar or usual pre Covid June pattern and no doubt the new market would be busier if either 1. Finance was cheaper and/or 2. New car prices were cheaper.
New market is steady, dealers commenting it’s not crazy busy it’s not slow either.
Main issues on new market is people PCPs coming to an end and trying to find similar monthly payments.
And in regards to finding similar monthly’s the other issue is residual values have softened so not as much equity in PCPs at 3 or 4 years old so more pressure on monthly costs going up
Ford dealer has downsized some customers from Kugas to Pumas which from my experience is considerably smaller interior because they couldn’t afford higher monthly pcp costs.
Used cars, similar the best description is steady.
Some types of cars sell fast such as petrol 7 seaters (low mileage Citroen grand C4 spacetourer sell within days) or good spec SUVs under £8k, other cars sell slow (one indi cursed buying 3 Fiat Tipo 1.6 diesels which he can’t even trade on to break even, had 0 interest in them despite dropping the price and putting them front and centre of his pitch).
Main complaint remains the APR on finance, both main dealers and Indis complain it’s too expensive.
Customers don’t have the funds to put down big deposits to lower monthly costs.
Little interest in hire purchase finance, even when the monthly’s are close to a PCP quote, people don’t like the longer term to get the monthly costs down.
A sole trader / one man band indi garage who has a small pitch and is the sort of bloke I would never buy a car from does have a 23.9% APR with a finance firm, to pay that much interest on top of the used junk cars he sells is wild.
I hate dropping off at his place, takes him 20 minutes going through his ash tray and filling cabinets to club together £20 odd quid in slummy to pay for fuel filters and plugs.
Despite giving him an invoice which he already agreed to the price over the phone he still try’s to argue for a discount.
I digress, essentially the market is in a similar or usual pre Covid June pattern and no doubt the new market would be busier if either 1. Finance was cheaper and/or 2. New car prices were cheaper.
RayDonovan said:
AlexNJ89 said:
Just come across this video that Mclaren owners are getting annoyed that they won't take the car on SoR.
To me, this says there are people stuck in finance agreements that can't afford the £10k to get the work done on their car in order to prep it for sale, but they need someone to sell it for them to get out of the car. (as I assume £120k is a lot for a private sale where the money has to go to the finance company).
Might be being ignorant here, but I'm very surprised that someone smoking around in a McLaren doesn't have £10k in ready cash to try and exit a finance agreement.To me, this says there are people stuck in finance agreements that can't afford the £10k to get the work done on their car in order to prep it for sale, but they need someone to sell it for them to get out of the car. (as I assume £120k is a lot for a private sale where the money has to go to the finance company).
ACCYSTAN said:
From doing the delivery round on Friday to various dealers , Indis and garages this is the current consensus
New market is steady, dealers commenting it’s not crazy busy it’s not slow either.
Main issues on new market is people PCPs coming to an end and trying to find similar monthly payments.
And in regards to finding similar monthly’s the other issue is residual values have softened so not as much equity in PCPs at 3 or 4 years old so more pressure on monthly costs going up
Ford dealer has downsized some customers from Kugas to Pumas which from my experience is considerably smaller interior because they couldn’t afford higher monthly pcp costs.
Used cars, similar the best description is steady.
Some types of cars sell fast such as petrol 7 seaters (low mileage Citroen grand C4 spacetourer sell within days) or good spec SUVs under £8k, other cars sell slow (one indi cursed buying 3 Fiat Tipo 1.6 diesels which he can’t even trade on to break even, had 0 interest in them despite dropping the price and putting them front and centre of his pitch).
Main complaint remains the APR on finance, both main dealers and Indis complain it’s too expensive.
Customers don’t have the funds to put down big deposits to lower monthly costs.
Little interest in hire purchase finance, even when the monthly’s are close to a PCP quote, people don’t like the longer term to get the monthly costs down.
A sole trader / one man band indi garage who has a small pitch and is the sort of bloke I would never buy a car from does have a 23.9% APR with a finance firm, to pay that much interest on top of the used junk cars he sells is wild.
I hate dropping off at his place, takes him 20 minutes going through his ash tray and filling cabinets to club together £20 odd quid in slummy to pay for fuel filters and plugs.
Despite giving him an invoice which he already agreed to the price over the phone he still try’s to argue for a discount.
I digress, essentially the market is in a similar or usual pre Covid June pattern and no doubt the new market would be busier if either 1. Finance was cheaper and/or 2. New car prices were cheaper.
Interesting insight, thanks. I'm currently looking at a Tesla Model Y and the used PCP rates are actually making a new car on PCH look like a better deal..New market is steady, dealers commenting it’s not crazy busy it’s not slow either.
Main issues on new market is people PCPs coming to an end and trying to find similar monthly payments.
And in regards to finding similar monthly’s the other issue is residual values have softened so not as much equity in PCPs at 3 or 4 years old so more pressure on monthly costs going up
Ford dealer has downsized some customers from Kugas to Pumas which from my experience is considerably smaller interior because they couldn’t afford higher monthly pcp costs.
Used cars, similar the best description is steady.
Some types of cars sell fast such as petrol 7 seaters (low mileage Citroen grand C4 spacetourer sell within days) or good spec SUVs under £8k, other cars sell slow (one indi cursed buying 3 Fiat Tipo 1.6 diesels which he can’t even trade on to break even, had 0 interest in them despite dropping the price and putting them front and centre of his pitch).
Main complaint remains the APR on finance, both main dealers and Indis complain it’s too expensive.
Customers don’t have the funds to put down big deposits to lower monthly costs.
Little interest in hire purchase finance, even when the monthly’s are close to a PCP quote, people don’t like the longer term to get the monthly costs down.
A sole trader / one man band indi garage who has a small pitch and is the sort of bloke I would never buy a car from does have a 23.9% APR with a finance firm, to pay that much interest on top of the used junk cars he sells is wild.
I hate dropping off at his place, takes him 20 minutes going through his ash tray and filling cabinets to club together £20 odd quid in slummy to pay for fuel filters and plugs.
Despite giving him an invoice which he already agreed to the price over the phone he still try’s to argue for a discount.
I digress, essentially the market is in a similar or usual pre Covid June pattern and no doubt the new market would be busier if either 1. Finance was cheaper and/or 2. New car prices were cheaper.
Guess the problem with people downgrading on PCP is their next move. If you need a decent amount of space and move from a Kuga to a Puma, what's your next move when the Puma PCP ends?
ChocolateFrog said:
RayDonovan said:
AlexNJ89 said:
Just come across this video that Mclaren owners are getting annoyed that they won't take the car on SoR.
To me, this says there are people stuck in finance agreements that can't afford the £10k to get the work done on their car in order to prep it for sale, but they need someone to sell it for them to get out of the car. (as I assume £120k is a lot for a private sale where the money has to go to the finance company).
Might be being ignorant here, but I'm very surprised that someone smoking around in a McLaren doesn't have £10k in ready cash to try and exit a finance agreement.To me, this says there are people stuck in finance agreements that can't afford the £10k to get the work done on their car in order to prep it for sale, but they need someone to sell it for them to get out of the car. (as I assume £120k is a lot for a private sale where the money has to go to the finance company).
RayDonovan said:
ChocolateFrog said:
RayDonovan said:
AlexNJ89 said:
Just come across this video that Mclaren owners are getting annoyed that they won't take the car on SoR.
To me, this says there are people stuck in finance agreements that can't afford the £10k to get the work done on their car in order to prep it for sale, but they need someone to sell it for them to get out of the car. (as I assume £120k is a lot for a private sale where the money has to go to the finance company).
Might be being ignorant here, but I'm very surprised that someone smoking around in a McLaren doesn't have £10k in ready cash to try and exit a finance agreement.To me, this says there are people stuck in finance agreements that can't afford the £10k to get the work done on their car in order to prep it for sale, but they need someone to sell it for them to get out of the car. (as I assume £120k is a lot for a private sale where the money has to go to the finance company).
There's a couple round my way where the house is 200-250k with the same value in new or nearly new cars on the drive.
Does make you wonder.
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