Second hand car market

[GASWAGON]

Originally Posted by turbodewd

The state of the 2nd hand market is not Labor's fault, it ultimately is a function of the GFC, i.e American monetary policy and 'wild West' Wall St which has no rules. This stems from a religious belief in "free" markets.

I believe in free markets too but you need rules coz complete freedom from rules is called anarchy!

Yes the ***** is still hitting the fan even since 2008 GFC1.... And its only going to get worse as far as I can tell..Buildings up for lease everywhere in Melbourne.

[302 XC]

Originally Posted by EF_6

I have had to drop my price to 9,250 today.... And I bet they will still want to bargain with me.... After todays interest rate drop things are only going to get worse IMO?

When I bought my AU XLS tray back 12 months or so ago , the owner started at $4900....
Few weeks later dropped to $4400, that's when I went for a look ....
Few weeks later dropped to $3900, I went back for a 2nd look, well it was local
Final haggling,cost $3500 with 6 months rego ....
1 family owned since new, fully documented serviced since new
I was the only one who even showed any interest
Been a great ute, only spent enuf on it in that time for new plugs,leads,and a coil pack
For something people walk away from,its been one of the cheapest to buy cheapest to maintain cars ive ever bought

[aualright]

Gee...I had trouble moving my AUIII ute in 2005 which only had 40k on the clock. I got just over $10k for it after about 4 mths. Ever since tarrifs were lowered and the GST came in, new cars have been very cheap comared to the old days. Naturally affects the used car market.

Still have an AU XR8 sitting in the shed, gathering dust. Can't bear to sell it for next to nothing. May end up being a barn find of the future?

And I agree that those wishing to push their political agendas (bias) should contemplate that both sides are the much the much on a macro level, even though one side may have impacted you on a micro one.

****

[BENT_8]

Originally Posted by danzvtil

My last ute, 2 yr old FG LPG 1 tonner with 105K was offered 10K, after haggling, the on paper value I got was 14K. It swings and roundabouts.

So your saying they valued your trade in at 10k but after haggling they put 14k on the contract and the changeover stayed the same, yeah?

[PridenJoy]

I'm in the market for a cheap second hand Ghia or Fairlane on gas and it's amazing how many dreamers there are out there. The ones priced reasonably are of course sold, missed out on a few in the last few days, so cars ARE selling.

The dreamers will complain it's a bad market though.

[Full Noise]

Originally Posted by PridenJoy

I'm in the market for a cheap second hand Ghia or Fairlane on gas and it's amazing how many dreamers there are out there. The ones priced reasonably are of course sold, missed out on a few in the last few days, so cars ARE selling.

The dreamers will complain it's a bad market though.

Any second hand car on gas will attract a premium price at the moment, regardless of the make. Whether or not they get it is another story. It probably doesn’t apply to commercials as much though.

[fordomatic]

Originally Posted by PridenJoy

The dreamers will complain it's a bad market though.

Totally agreed, as stated in another thread, this year i've sold a 2003 VY Clubsport and 2002 laser in the first week of having them for sale. I price them at the lowest i would take and then don't budge on the price. Once people looked at them and realised they were in excellent condition they sold. Both of them to the first people that looked at them.

I didn't price them that low either, i still got good prices for them. For the time and effort it takes to wait around for a car to sell it isn't worth the hastle. I then also picked up my 2010 FG XR6 turbo for a great price, so it works both ways.

[LG17]

The market at this moment (not earlier this year or 3 months ago ;)) is turning for the better.

Possibly a combination of tax returns and the gov't FBT changes.

[Revolver]

Originally Posted by ZA-289

Im pretty sure that you are the exception ;)

I used to drive 1000 k a week minimum.

150 round trip to work each day so = 750

About 75 round trip to my other job on the weekend so 150 - 900 in total

And an easy 100/200 k for any running around.

And if there was a special even to to go to or what ever would easily see an extra 200 on top of that.

It doesn't take long to add up. 1+1+1+1 and so on soon will add up to a hundred.

I just don't understand how people think that's a big number. Or maybe because I was used to it.

I've always believed its this sort of mileage that separate the drivers from a driver.

[danzvtil]

Originally Posted by BENT_8

So your saying they valued your trade in at 10k but after haggling they put 14k on the contract and the changeover stayed the same, yeah?

Not quite, I paid 4k less changeover.
Your best asset when negotiating for a new car is the dealer down the road! I make it known im shopping around and their first offer is often sharper than it would have otherwise been.

[GASWAGON]

I just had a looker yesterday from 10 minutes down the road so hes a local to my country town and he still didn't buy it even after saying how he liked the long range gas tanks and how clean the car is.....Geesus how many people are going to look at this ute before someone actually buys it?

[302 XC]

Originally Posted by EF_6

.....Geesus how many people are going to look at this ute before someone actually buys it?

Many only look because its local, a large majority have done the sums and figures well before they even go for a drive to personally inspect
Thanks to the interweb everyone has a larger choice now
9 , 10 grand theres a wide variety of utes out there from the small 4 pots to the V8 versions ,of various brands, your in a big pond with lots of fish
10 grand id be looking at an RTV or a 4x4 ute

[BENT_8]

Originally Posted by danzvtil

Not quite, I paid 4k less changeover.
Your best asset when negotiating for a new car is the dealer down the road! I make it known im shopping around and their first offer is often sharper than it would have otherwise been.

Then you did yourself out of money.

Stamp duty is charged as a % of the purchase price, it is in SA anyway.

If for arguments sake the price of the car you were buying was 20k, and they offered you 14k for your trade, the balance is 6k, but you are paying stamp duty on 20k.
You would have been better off getting 10k for your trade and knocking the car your purchasing down to 16k.
The changeover stays the same, 6k, but you only pay stamp duty on 16k instead of 20k.

This is why trade in values is irrelevant and changeover difference is the important factor.

[Smoke Pursuit]

Originally Posted by BENT_8

Then you did yourself out of money.

Stamp duty is charged as a % of the purchase price, it is in SA anyway.

If for arguments sake the price of the car you were buying was 20k, and they offered you 14k for your trade, the balance is 6k, but you are paying stamp duty on 20k.
You would have been better off getting 10k for your trade and knocking the car your purchasing down to 16k.
The changeover stays the same, 6k, but you only pay stamp duty on 16k instead of 20k.

This is why trade in values is irrelevant and changeover difference is the important factor.

Stamp duty is calculated on the RRP of the new car, regardless of what you pay for it (on new cars QLD neways).

[GASWAGON]

Looks like i'm going to have to lower my price to 9000.... Had two callers from 2 hrs away and the one local looker on weekend......Cars seem to depreciate more and more just as the days go by....Its not fair!

[FlipXW]

Just sold my 98 2.8td GU patrol, had it for sale for 3 weeks. Got 12k for it which is what I paid 18 months ago. I did however put about 4k of accessories on it. Priced it at $12500 which was about the middle of the road for these trucks. 2nd person to look at it drove it away, offered me 10, said the lowest ill take is 12 and after about 20 mins and few other offers came up to the 12. Easiest experience I have had selling a car.

[LightningStrike]

Just sold a VE Senator (not senator signature so no magnetic ride control, but still, 317kw and full books, good genuine car). Priced right at $31900 for an 09 with 105ks, nothing directly comparable but a couple of 08 Signatures which were 10k more newer with less kays at $35k.....and they are still sitting there to..... Fo me, on the market for three days 10 enquiries 1 happy buyer.

Carsales premium ad.

Fleabay and scumtree for an HSV only attract sms responses like "hey bro you take 25k?" And of course the email only scammers........but horses for courses

Considering selling the hilux in a few weeks and I'll probably use fleabay and scumtree to broaden market reach, but not before doing a premuim carsales ad. Expensive but worth it.

[danzvtil]

Originally Posted by BENT_8

Then you did yourself out of money.

Stamp duty is charged as a % of the purchase price, it is in SA anyway.

If for arguments sake the price of the car you were buying was 20k, and they offered you 14k for your trade, the balance is 6k, but you are paying stamp duty on 20k.
You would have been better off getting 10k for your trade and knocking the car your purchasing down to 16k.
The changeover stays the same, 6k, but you only pay stamp duty on 16k instead of 20k.

This is why trade in values is irrelevant and changeover difference is the important factor.

erm....when we buy vehicles for lease, we only look at the drive away figure, THAT is the amount we are financing irrespective of what the stamp duty component is.
I have had dealers in the past make the trade in amount artificially low to reduce the GST amount THEY pay for my trade, but increase the discount to compensate. Smoke and mirrors........

[BENT_8]

Originally Posted by danzvtil

erm....when we buy vehicles for lease, we only look at the drive away figure, THAT is the amount we are financing irrespective of what the stamp duty component is.
I have had dealers in the past make the trade in amount artificially low to reduce the GST amount THEY pay for my trade, but increase the discount to compensate. Smoke and mirrors........

Erm, your original post mentioned nothing about leasing, or new cars for that matter.

[b2tf]

Originally Posted by P6LTD351

An idiot.

The even bigger idiot is the seller who expects people to pay the asking price.

I have sold 3 utes (all XR8's so according to some on here a 'very limited market') all for my asking price. Did not overprice it, did not try and get too much for it, just put on them what I thought the car was worth including the extras I put on them.

Every single one of them got asking price, no hassles or negotation. People know what they want and what they are willing to pay, just like people know what they are willing to let something go for. The simple fact is that if those two figures don't match you either negotiate or you buy something else, you don't whinge about the market or the 'haggling' - you either say yes or no.

[TheSneakiness]

From what I see the second hand market is still stagnant.

I've seen the same silver FG XR6 Ute LE in the same yard the last 4 months. Tempted to go and offer on it but not in a position to.

[302 XC]

Originally Posted by b2tf

People know what they want and what they are willing to pay, just like people know what they are willing to let something go for. The simple fact is that if those two figures don't match you either negotiate or you buy something else, you don't whinge about the market or the 'haggling' - you either say yes or no.

That's about as simple as it should be ....
But we all know every one wants a million bucks for their rusted out neglected pile of junk that even the wreckers reject,then there are those who stick their nose in an help jack an inflated price, then no one wins
Theres a sale yard on faceache,a dude selling a combi,only wanted 3 K , some tool threw his 5 cents in the bucket,now the owner wants 6.5 K

Theres that many used cars around that are for sale for months and months, those priced fair will sell most times, those greedy wont

[ZA-289]

Got 3k for an average vs stato. Stuff still sells just takes longer.

[BENT_8]

Originally Posted by ZA-289

Got 3k for an average vs stato. Stuff still sells just takes longer.

Lol, selling Holden badged product of that price range in Adelaide is like setting up a lemonade stand in a desert...

Im surprised it took long at all.

[tezxr8man]

Originally Posted by jmack

people might think 0%finance is good but depreciation isnt and getting 3% on the same money sitting in the bank is better, let the joneses have their own little competition of mines bigger than yours,

How many people do you see nowdays that tough it out financially to buy a new car for $40,000 then do the sae thing again a few years down the track? if they keep it for 3 years it's worth $25,000, how is that smart business sense... while they have lost 15,000 they say they are smart because it's at 0.9% interest

[302 XC]

Originally Posted by tezxr8man

How many people do you see nowdays that tough it out financially to buy a new car for $40,000 then do the sae thing again a few years down the track? if they keep it for 3 years it's worth $25,000, how is that smart business sense... while they have lost 15,000 they say they are smart because it's at 0.9% interest

Its a double edged sword...
Those who can afford the hundred or more a week for a newie,wont bother stuffin around with 2nd hand ,mostly junk,when the hundred or so buys a new car with 3,5 year warranty and hopefully should be trouble free for 3 maybe 5 years,or even more depending on how its maintained
The next issue is, new are longer service periods,generally have better power and efficiency,so doin the math and depending on Ks travelled , its really a no brainer to buy new ,as a package
Ive done the sums recently, a new triton was $125 P/W getting around the 10L/100Ks,Vs my patrol that's owned at 20L/100Ks, it doesn't take too much travel to off set the payment in fuel savings
Itll get to the point that many will buy new,in 3,5 years time itll be trade in,trade will pay out the residual and they will borrow for new again,thus keeping the weekly/monthly payment the same and being in a new car
If I could afford to do this and needed a reliable car day in day out,id do this without a 2nd thought,but I don't need a car every day for the daily grind,i have better things to spend money on,so I stick with what I have

[tezxr8man]

Originally Posted by 302 XC

Its a double edged sword...
Those who can afford the hundred or more a week for a newie,wont bother stuffin around with 2nd hand ,mostly junk,when the hundred or so buys a new car with 3,5 year warranty and hopefully should be trouble free for 3 maybe 5 years,or even more depending on how its maintained
The next issue is, new are longer service periods,generally have better power and efficiency,so doin the math and depending on Ks travelled , its really a no brainer to buy new ,as a package
Ive done the sums recently, a new triton was $125 P/W getting around the 10L/100Ks,Vs my patrol that's owned at 20L/100Ks, it doesn't take too much travel to off set the payment in fuel savings
Itll get to the point that many will buy new,in 3,5 years time itll be trade in,trade will pay out the residual and they will borrow for new again,thus keeping the weekly/monthly payment the same and being in a new car
If I could afford to do this and needed a reliable car day in day out,id do this without a 2nd thought,but I don't need a car every day for the daily grind,i have better things to spend money on,so I stick with what I have

It all depends on the age too, you wouldn't compare an XC hardtop with a brand new falcon but a 3-4 year old car makes more sense to buy than brand new as the depreciation has slowed a lot and the technology hasn't moved along that much. even a 10 year old car doesn't miss out on a lot compared to a brand new car and they can be had for nearly nothing in most cases so it would take a real long time to catch up
the only question is reliability and brand new cars aren't as reliable as new cars 10 years ago but a used car has the question mark over how it was treated before you get it

[mr smith]

2011 XR6 ute for sale. No bites in 4 weeks. Priced just under $20K.

[ZA-289]

Originally Posted by BENT_8

Lol, selling Holden badged product of that price range in Adelaide is like setting up a lemonade stand in a desert...

Im surprised it took long at all.

That was my point of starting this thread. It took 5 weeks. 1 person looked at it. He bought it. 6 months ago it would have sold in 2 weeks.

[ZA-289]

6 months later and nothing has changed. Trying to sell a clean 2000 nissan patrol which is low kms and almost the cheapest one In the country. 1 call in 3 weeks. Mate cant sell his 2010 hilux either