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Second hand prices...wtf? - drjaking
What on earth has happened to second hand car prices? Last time I was considering an upgrade I could pick up a low mileage 3y old Grand Picasso for about 6k. A year later it's more like 7.5k. Is this the same across the board?

My guess is that this must reflect price gouging by retailers in the face of lower volumes. In which case does it make more sense to buy at auction?
Second hand prices...wtf? - tony g
Hi ,08 grand picassos with reasonable mileage are currently retailing for£6000 as petrol,and £7000 as diesel on auto trader .
That's the asking price, so it should be possible to discount that by £250 /£500.
I buy used cars for a living but rarely from auctions.

Auction prices are not that great , if you add the large indemnity fees that some auctions are charging .As much as £500 at larger auctions.Theirs no incentive,or profit in buying from auctions.

Many of the cars sold at auction are bought by car supermarkets.Who need to buy in volume.They often operate on a lost leader system ,and then sell on a monthly payment proposition.That way the higher retail price becomes less of a problem.

Tony g
Second hand prices...wtf? - NARU

The last government, and now this one, printing money have made sure that our exchange rate has stayed low. As a consequence, all imported goods are going up in price. Including new cars.

As a consequence, used cars are creeping up too.

Second hand prices...wtf? - RT

The rest of the world has economic problems just like us - in the rest of Europe they've much bigger problems than ours - the Euro is struggling and this is making imports expensive for us.

Don't blame Cameron for Papandreyou or Berlesconi !!

Second hand prices...wtf? - madf

Fewer new cars being sold since 2008...Fewer second hand cars around. Scrappage removed a lot..

So shortage = firm prices.. (unless big petrol barges)

Second hand prices...wtf? - jamie745

Don't blame Cameron for Papandreyou or Berlesconi !!

I dont see what Berlusconi has to do with inflated prices of used French cars quite frankly and theres alot that Cameron seems to think he can pass the buck to someone else for.

'All Labour's fault'

'All someone elses fault'

'No money, nothing we can do'

'All Labour's fault'

'Blah blah difficult decisions blah blah'

Etc etc

You can bang on about the Euro, printing money, inflation etc all you like the fact is at the end of the day something is still only worth what someones willing to pay for it. The publics valuation of used cars doesnt rise and fall based on currency exchange rates or foreign bailouts. If a dealer on a forecourt said 'well its a grand more now you see because of the Euro crisis' he's still not going to sell the car if the customer doesnt want to pay it or doesnt have the money for it. This is fact.

Edited by jamie745 on 14/11/2011 at 12:39

Second hand prices...wtf? - gordonbennet

Supply and demand, prices coming into line with other european countries, you all voted for continued integration, enjoy.

Shortage of older high quality used due to extremely sensible Africans and East Europeans buying the best and shipping them abroad.

Second hand prices...wtf? - jamie745

you all voted for continued integration, enjoy.

Im too young to have ever had a voting say in Britains relationship with Europe. Right now we all have a Government nobody voted for at all. Second Prime Minister in a row who wasnt elected aswell. Democracy working well here in Britain.

Shortage of older high quality used due to extremely sensible Africans and East Europeans buying the best and shipping them abroad.

Where as here we go 'oh no its 4 years old thats an old car it'll go wrong i wont spend £800 on that instead i'll spend £17,000 for something which does 7mpg more!!!'

Second hand prices...wtf? - madf

." Right now we all have a Government nobody voted for at all. Second Prime Minister in a row who wasnt elected aswell. Democracy working well here in Britain."

?

I seem to remember a General Election - or rather about 9 in a row.. where I never voted for a PM but for a Party...


Second hand prices...wtf? - jamie745

And i remember an election last year where a party which didnt win ended up with their leader becoming Prime Minister. Potato Potarto.

Second hand prices...wtf? - Bromptonaut

And i remember an election last year where a party which didnt win ended up with their leader becoming Prime Minister. Potato Potarto.

Nobody won. And in that circumstance the party with the most seats usually has first dibs at forming a coalition. Our unwritten constitution works that way.

Last time it happened was in Feb 74. Heath tried to agree a coalition with the Liberals but couldn't agree. He walked and let Wilson/Labour form a minority govt. They passed some popular measures (food subsidies) and called another election in October which they narrowly won. Lost a few by-elections but struggled on with Lib support until May 79.

Second hand prices...wtf? - jamie745

Nobody won. And in that circumstance the party with the most seats usually has first dibs at forming a coalition. Our unwritten constitution works that way.

It may be worth nothing the Conservative's in 2010 got more votes than the winning Labour Party in 2005 but given the ammunition Cameron had against Labour and all the endless problems i think he should be quite embarassed that him and his party still couldnt win properly. It shouldve been a formality.

On another topic its interesting to consider what will happen in 2015, the Conservative's aim is to get rid of the deficit and thats hugely ambitious and i dont think it will be possible, not in this timeframe. It would be possible if they took hugely drastic measures but that would render them unelectable. The interesting point is usually when a party comes into power, their majority is dented in the following election but the Conservative's have no majority to work with. Ok Thatcher gained seats in 1983 but in most cases the party sees its majority dented, Labour's majority shrunk hugely in 2001 but that may be a statistical anomoly as their majority was so huge to start with there was zero chance of maintaining that.

The last time we had a Hung Parliament the party which eventually came out of it in power had 5 years in charge and then sat on the opposition benches for the best part of two decades, history would suggest a Labour win in 2015. The Tories need to fix the finances, get the deficit down and gain a majority and votes all at the same time.

Its a big ask.

Second hand prices...wtf? - Bromptonaut
The last time we had a Hung Parliament the party which eventually came out of it in power had 5 years in charge and then sat on the opposition benches for the best part of two decades, history would suggest a Labour win in 2015. The Tories need to fix the finances, get the deficit down and gain a majority and votes all at the same time.

I wouldn't put too much on that precedent.

Callaghan nearly called an election in autumn 78 but bottled it. My Dada and I sat in disbelief to his live broadcast to the nation. He'd most likely have won. Thatcher was not popular at the time; it was the 78/9 'Winter of Discontent' that did for him.

The Conservative majority from 79 to 83 was not large by later standards; around 35. The landslides were 83 and 87.

Edited by Bromptonaut on 14/11/2011 at 14:31

Second hand prices...wtf? - jamie745

Maybe we shouldnt use the precident of the last hung parliament and instead go on precidents of parties increasing majorities by following elections, it was done in '83 and '87 so its not like its impossible. Plenty can happen between now and then and a handful of things can alter the fortunes of the parties, we still dont really know what Miliband is all about and to be quite blunt i dont think anybody cares but one day he'll have to put a manifesto out.

Second hand prices...wtf? - RT
(Sorry - refers to an abusive exchange which I've had to censor.)

Edited by Avant on 14/11/2011 at 22:53

Second hand prices...wtf? - Bromptonaut

The rest of the world has economic problems just like us - in the rest of Europe they've much bigger problems than ours - the Euro is struggling and this is making imports expensive for us.!!

On the contrary, if the Euro were struggling on forex markets our imports would be cheaper. Although its fallen by a few cents against the pound in the last few weeks its still, at 1.18, way over the 1.50 it was at in 2006.

Why Greece/Italy haven't impacted on exchange rates is a different question. Possibly the markets have already discounted them falling out so Euro rates are refelecting Frnch and above all German strength. If the Euro fails German imports will be very expensive.

Second hand prices...wtf? - madf

US,UK and Euro economies are all in trouble so respective Exchange rates are unlikely to change much until a decisive event... like Greece actually defaulting..or Italy or France ..

Lots of deckchair re-arranging. Wait for real action to see a move.

Second hand prices...wtf? - meldrew

The OP original raised a comment regarding used car prices!

Last weekend my son's car, an MG-ZR that he had had from new was declared beyond economic repair. All Saturday we were out looking for a "value" car that would enable his wife to start driving regularly and do a reliable 10 mile commute to the station.

Forget this nonsense about supply and demand - the country is sinking uder the weight of all the used cars that are for sale. Unfortunately anything half reasonable was grossly overpriced with 2 year old cars barely below new prices and older cars looking well used.

We tried a well known (four letters, the same as the make of a car!) supermarket and there was nothing worth buying at their prices. We had looked at used cars at a main dealer earlier in the day and as a last resort went back to the local Ford dealership.

Forget the list prices, said the man, tell me what you want and we can certainly do a deal. As the primary reason for the purchase was now for his wife to get the hang of driving again we settled on a new basic Ka for £6995 OTR. I will wager that the cost of running this for 3 years will be less than a 3 year old car for £4k taking into account road tax and wear and tear.

We tend to buy new in our family and keep a car for as long as it lasts. Despite the alleged eight year life our own statistics show that the better quality cars actually do last twice as long as the cheaper variety. Frankly I can't stand the strain of more regular changes!

Second hand prices...wtf? - SteveLee

The rest of the world has economic problems just like us - in the rest of Europe they've much bigger problems than ours - the Euro is struggling and this is making imports expensive for us.

Don't blame Cameron for Papandreyou or Berlesconi !!

I suspect he's blaming the consequences of racking up record peacetime debt during 11 years of global boom - doubling national debt before the "credit" crunch even happened - the IMF warned the one-eyed-idiot several times over the years about "his" debt levels - still he ploughed on claiming to have banished boom and bust...

What we are seeing and will see for generations is the fallout from this record debt, as usual the Tories will get the blame for clearing up Labour's financial mess - near bankrupting the country - again.

Second hand prices...wtf? - jamie745

'All Labour's fault' is getting very boring now. Pathetic excuses with Cameron offering no reason why anybody should vote for him, of course he doesnt have to give anybody a reason to vote for him for quite some time yet. However not being Labour isnt going to be enough for 2015, he couldnt beat Gordon Brown last year which should make him feel embarassed to show his face in public so it wont work in 2015 either.

still he ploughed on claiming to have banished boom and bust...

I think Brown had this vision of constant boom. Try and wrap your head round that one.

the Tories will get the blame for clearing up Labour's financial mess

The point is that there is still nothing to really suggest the Tories (this lot anyway) actually have the ability to do that.

Tory supporters go on the internet and spout about Brown bankrupting Britain etc but the fact is the Tories still didnt win last year, Cameron couldnt properly beat the supposed fish in a barrel. Most people have no interest in deficits and kicking disabled people out of wheelchairs (the two things the Conservative's are very keen on) people vote in accordance with what will affect them personally and the Conservative's plans will - neccessarily or otherwise - negatively impact alot of people.

Im not saying they cant win and i will make my voting decision no earlier than a fortnight before the election, what im saying is the public need to see results. Not so much with Cameron but more importantly with Osborne's economic plans, he's the man who needs to see his decisions pay off so as the Conservative's can point to what they've done right rather than rely on listing what Labour did wrong. Its easy to win an election (which they didnt) based on your oppositions failure after a long time in Government but by 2015 Labour will be out of Government for 5 years and not to blame for anything.

Edited by jamie745 on 14/11/2011 at 23:40