Car manufacturers and the iPhone generation

599 More

Earning the right to be successful

581 More

Knowledge is power

676 More

Selling cars – it’s all about timing

959 More

Truemag

  • Home
  • About
  • Advertise
  • Archives
  • Contact
  • Subscribe

Used car prices? Take a wild guess!

At this time of year valuing cars becomes somewhat of a lottery. The true value of the car is dictated not so much by what it is really worth but more by the strange dynamics of the end of season market.

Throw in “economic uncertainty”, dealers looking to bank end of year cash, hideous weather and many people with their minds elsewhere and it can be a confusing scenario for a car buyer.

It never ceases to amaze me that the amount of convertibles on the market virtually trebles when the weather is at its worse and even the modern style with built in hard tops are not immune from chronic depreciation.

The auctions we have been visiting have a selection of convertible representing almost every manufacturer and all equally undesirable and price sensitive. We have seen examples where certain models like Peugeot, Renault and even BMW, VW and Audi have seen the hammer go down at as much as £3,000 behind their guide prices.

So if you are hoping to change your drop top in this weather please think again unless you have very deep pockets! Of course if you were thinking of buying one when the weather gets a bit better, well why wait they won’t be any cheaper than they are now and when the summer comes you will realize you are driving round in the bargain of the century.

On the other hand, as we have mentioned previously, 4wd’s have gone the other way and have risen in value at the first sign of bad weather. Perhaps we are stating the obvious but getting back to valuations in general we did an exercise around the office on about 6 cars from different sectors of the market (I know but the snow stopped us going anywhere and we were going stir crazy by now). Usually during ‘normal’ trading patterns whatever they are these days we could all expect, being professional car people to be within a few hundred pounds of each other in terms of our opinion of a cars true value.

However the patterns are clearly just as confusing to us and plainly demonstrate the activity and the regional climate as to our opinions of values because on some models we were thousands of pounds apart and somewhat baffled. But then it seems so are the 2 major trade guides Glass and Cap, so we shouldn’t beat ourselves up about it. What it does mean is, the customer who is shopping for the best price on their existing car could find himself rather confused and exasperated in the difference from dealer to dealer.

Let’s just hope that more traditional patterns of trading come back to the market in 2011, for everyone’s sake.

Dec 15, 2010MTI
  • Prices hotting up as snow melts
  • As used car prices heat up could demand swing back to new cars?
  • Used car prices and simple supply and demand
  • Used Car Prices
  • Supply shortage fueling used car prices
  • Mind the gap – used car prices hardening further
  • Steering clear of franchised dealer service departments? Maybe it's time to think againFord struggling in major European markets
    Comments: 1
    1. Mark Robbins
      11 years ago

      16th December and we have not sold a single unit this month, that’s right, not one out of around 40+ used cars on display on professional site, is it me or is the used sector in meltdown in the south of the country ie: London and Essex ??????????

    MTI
    11 years ago Blog, Consumercar sales, economy, motor trade recession, Used car, Used car buying, used car prices, used cars117
    Most viewed
    Top 100 UK Dealer Groups
    39,482 views
    The car sales process and the “9 point plan”
    11,503 views
    webuyanycar review – They will buy any car but beware of the asterisk
    6,013 views
    Most commented
    Car sales and the power of silence…
    25 Comments
    Car dealers still not prepared to play the “we buy any car” game
    23 Comments
    A Traders Tale – Part Four
    22 Comments
    Win a pre-loaded Ipod Shuffle!
    19 Comments
    Bargain of the Week – StreetKa 1.6i Luxury
    14 Comments
    Bridal Hair Berkshire
    Fox Body to 2018 Mustang Parts
    and Accessories
    About MTI

    Motor Trade Insider
    is written by people working actively in the motor trade for people on the inside and people on the outside.

    Our aims
    Build a bridge between consumers and the trade, create Interesting and informative content, break down barriers and create better understanding, expose bad practices and rip-offs and promote outstanding products and service.
    Have something to say?
    We are always looking for experienced writers who can write good original quality posts on motor-trade-insider.com. Please contact us if you would like us to consider you. Make sure you give us details of your own blog or a link to some articles you have written.
    2017 © Motor Trade Insider
    Truemag theme by StrictThemes