Underpriced sports cars
Discussion
Because that's not what the market will pay for it. I have an E36 3 Series which I've owned for nearly 25 years from new. It's as good as dead now due to the usual bodywork corrosion and a rear trailing arm pocket failing, also due to corrosion. It would cost me at least £20k to get it back to mint condition, after which it would be worth, maybe, £6k, not the £20k that I've spent on it. The market dictates what something is worth. What you've spent on it is irrelevant.
mjlloyd500 said:
Patrick. I was trying to part exchange at a classic car dealer who had a tvr chimeara for sale for 23 grand
How much demand do you think he has for TVRs in Feb? Given he already has one unsold?How much margin do you think he should make?
How much does he need to consider to make good on any CRA responsibilities?
etc
mjlloyd500 said:
Patrick. I was trying to part exchange at a classic car dealer who had a tvr chimeara for sale for 23 grand
Dealer margin. You need a decent one with this type of car and prep is costly, as you can attest to. Plus, we have no idea how great the Chimaera is, or the condition of your car, despite your expenditure. A respray won’t generally enhance value a great deal, but a bad one will destroy it! It’s a car to sell privately all day long. Or accept it’s not worth what you’d hoped as a part exchange.
You will rarely get back what you put into a car for maintenance. Even if it was a lot that you spent.
In the old days the price of a second hand car would be graded, A1 was the top. Can't remember what the lower conditions were.
Essentially the most you could expect for a car would be around A1 money, even if you spent a million the car would still only be at best A1 and that would be the top price you could get for it.
Not sure what todays prices are for your TVR.
I think dealers will happily knock money off your part exchange value if they can find faults and then use trade connections to cheaply rectify those faults to bring your car up to suitable condition for retail. For the work that is involved they are expecting compensation, so there should be a difference between part exchange price and forecourt price.
In the old days the price of a second hand car would be graded, A1 was the top. Can't remember what the lower conditions were.
Essentially the most you could expect for a car would be around A1 money, even if you spent a million the car would still only be at best A1 and that would be the top price you could get for it.
Not sure what todays prices are for your TVR.
I think dealers will happily knock money off your part exchange value if they can find faults and then use trade connections to cheaply rectify those faults to bring your car up to suitable condition for retail. For the work that is involved they are expecting compensation, so there should be a difference between part exchange price and forecourt price.
Dealer here. A TVR PX is about as welcome and useful as a Chinese burn. He's not going to "do you" and make a killing on it you're giving him a car that virtually impossible to retail and the brave soles that do retail these cars quite rightly demand huge margins. I know one that commands 10k over them which is a huge margin on a sub 50k car but they come with extensive commitments. Hardly anyone in the trade would take a TVR they are very difficult to place. I wouldn't take one I've been offered many over the years I just couldn't be bothered.
Flip it around another way would you sell privately but sign a document to say that no matter how the new owner rags it about it his many miles he does you'll cover any fixes it needs in full at a garage of his choice for 6 months?
I would think buyers of TVR might prefer to buy private but they must be priced sensibly. Any car that's within a couple of grand off a dealer car you would certifiably insane not to buy from a dealer and enjoy so the benefits of consumer law afforded to you.
Flip it around another way would you sell privately but sign a document to say that no matter how the new owner rags it about it his many miles he does you'll cover any fixes it needs in full at a garage of his choice for 6 months?
I would think buyers of TVR might prefer to buy private but they must be priced sensibly. Any car that's within a couple of grand off a dealer car you would certifiably insane not to buy from a dealer and enjoy so the benefits of consumer law afforded to you.
Sold my Griff about 18 months ago. Very unfair reputation for unreliability but nonetheless only a specialist TVR dealer will retail them.
As others have said, private sale the way to go, in Spring, and Pistonheads is the best platform by far for a TVR. Also have conversations on the TVR Facebook groups, which is how I sold mine.
P.S. You will need patience!
As others have said, private sale the way to go, in Spring, and Pistonheads is the best platform by far for a TVR. Also have conversations on the TVR Facebook groups, which is how I sold mine.
P.S. You will need patience!
mjlloyd500 said:
I've owned my tvr griffith for 20 years and recently spent 10 grand on a new paint job and other things and over 20 grand on its upkeep so why couldn't I get 20 grand for it 3 months ago in part exchange against a 40 grand f type .why why why
I’m after a v8 for my next car, would absolutely love a TVR the concept is amazing, British sports car fairly lightweight, v8 power and very fast , however I’ve been following the chimaera thread for the last few months and all I read about is loads of problems, a whole host of things which potentially could trouble your motoring enjoyment. I can see why a TVR is priced as they are, great car too many troubles. I’m gonna save my pennies a tad longer and go for the F type, I know they are not totally bullet proof but maybe less time spent fixing problems than the TVR. Gonna get flamed by the TVR boys , sorry ! Billy_Whizzzz said:
General rule of cars is - it is worth X and I spend Y on it, it is still only worth X.
This.I'm currently privately selling a ~15yo V8 estate, one which has had quite a lot of work done and is likely in better condition than 90% of other examples on the market. So far I've learned that the car isn't worth what I hoped it was - c'est la vie. The work done is for my enjoyment owning the car, it's not like a house where you might build an extension and get that back when you move.
Of course a car in good condition that presents well will sell for a bit more and more easily than a down-at-heel example, but the market sets the price.
Anyway I'd look to sell privately, and set the price competitive with others offered for sale, hopefully you'll find a fellow enthusiast who'll pay the going rate for it.
If you want an example of an underpriced sports car, I'd nominate the Porsche Boxster - a car that independent critics have generally rated as the best choice, but plenty of examples available for under ten grand just due to the sheer number of cars on the road.
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