Are cars selling?
Discussion
Over the past month I've been bombarded by dealerships from whom we've previously bought cars, inviting me to engage with them on one basis or another. Notably on a buying a car from them sort of basis.
Finance brokers that I have used in the past have been on the phone telling me how busy they are. Just calling for a chat sort of affair.
I was in a Bentley franchise yesterday and there were tumble weeds blowing through the showroom. I had been led to believe that there was an event of some sort. I seemed to be the star of said event, which was basically having a go in one of their cars and having (an admittedly very nice) coffee. And the offer of a biscuit.
I've got little appetite for buying anything, due to the economic landscape and the cost of money. I am getting the sense that I am not alone.
Opinions?
Finance brokers that I have used in the past have been on the phone telling me how busy they are. Just calling for a chat sort of affair.
I was in a Bentley franchise yesterday and there were tumble weeds blowing through the showroom. I had been led to believe that there was an event of some sort. I seemed to be the star of said event, which was basically having a go in one of their cars and having (an admittedly very nice) coffee. And the offer of a biscuit.
I've got little appetite for buying anything, due to the economic landscape and the cost of money. I am getting the sense that I am not alone.
Opinions?
wyson said:
I thought the majority of those were fleet and private buyers are winding back?
In Feb (year on year) private registrations were up 4.6% and fleet went backwards 4%.I have no idea about used cars sales, but new car sales (regs) in Feb not seen a YOY decline, in fact close to historic highs.
There is a stock shortage in the trade,also dealers are groaning under the cost of stock funding,so they will be holding on to as much margin as they can.With energy and staff costs also rising it isn't a great time to be a car dealer.Most are posting 2024 profits massively below previous levels,and many are only just breaking even.Waiting for a bargain these days may be a long process,if you find the right car,buy it,it may be a while before another shows up.
I’ve been on the hunt for a used car the past month or so, narrowed my search to 2 specific German SUV’s.
What I’ve found is that anything that’s really good miles/condition is moving quick, as in my autotrader saved cars of potential purchases all the good ones are disappearing as quick as they appear, sometimes before the photographs are uploaded.
The cheaper cars with dubious S/H and condition arnt moving.
Tried to haggle on one car using all the usual tricks and got just 200 off a 45k car. With some servicing and warranty thrown in if I took their 11.9% pcp.
So it appears to me that good cars are shifting and there’s not much margin on price, neglected cars of the same type are not. Seems like business as normal to me in spite of all the price hikes and mega apr offerings.
Not sure about new but on the type of car I was looking at there appears to be some discount available but the same 10-12% pcp being thrown at you in order to get it, which can be paid off straight away of course.
What I’ve found is that anything that’s really good miles/condition is moving quick, as in my autotrader saved cars of potential purchases all the good ones are disappearing as quick as they appear, sometimes before the photographs are uploaded.
The cheaper cars with dubious S/H and condition arnt moving.
Tried to haggle on one car using all the usual tricks and got just 200 off a 45k car. With some servicing and warranty thrown in if I took their 11.9% pcp.
So it appears to me that good cars are shifting and there’s not much margin on price, neglected cars of the same type are not. Seems like business as normal to me in spite of all the price hikes and mega apr offerings.
Not sure about new but on the type of car I was looking at there appears to be some discount available but the same 10-12% pcp being thrown at you in order to get it, which can be paid off straight away of course.
g40steve said:
Just sold daughter’s Fiesta to first caller.
Buyer told me after paying the deposit, they were having it as soon as they saw it, after viewing several recently.
Phones not stopped ringing all day, was priced keen & we lost £2.4K in 6 years of ownership
Cheap cars are easy to sell, I sold a fiesta a few years ago. Could have sold it many times over. 24 enquiries in less than a day and sold for full asking to the 1st to view. Buyer told me after paying the deposit, they were having it as soon as they saw it, after viewing several recently.
Phones not stopped ringing all day, was priced keen & we lost £2.4K in 6 years of ownership
Edible Roadkill said:
Cheap cars are easy to sell, I sold a fiesta a few years ago. Could have sold it many times over. 24 enquiries in less than a day and sold for full asking to the 1st to view.
I was looking for a cheap car for my daughter six months ago and found a Fiesta on Facebook. The whole thing was dodgy from start to finish, the seller wanted to meet me in a petrol station car park and I noticed he had a load of banger racing photos on his profile after agreeing to meet.He was waiting in the car park, and as I met him was replying to yet more messages to buy the car
The car was a mess, there was a dent in the rear quarter that was hidden in the photos, the seat bolster was worn through, it was filthy dirty, the boot was full of water, there were ten years of tree debris under the bonnet and the rear light cluster still had the white pen from the scrapyard on. I didn't even test drive it and walked away.
It sold the next day.
I have sold cheap cars in the past and always make sure they are immaculate, the cheapest on eBay and I still struggle to sell them. This guy was just selling a complete heap and could have sold it ten times over.
I don't know where I was going wrong.
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