Used car prices

[Dr Smith]

Originally Posted by Smoke Pursuit

Lol you are a long way away from the goal post. Most people will negotiate 2 - 3k. Unless they have overpriced it to start with they still wont drop that sort of value.

Used cars are pretty hot at the moment, dealer stock is low due to Covid (a lot of dealers didn't buy during the first wave of covid and depleted their wholesale / used stock to low numbers). Also alot of people cashed their supers in and bought cars (believe it or not).

I had a car I was selling for 48k and sold it to a dealer for 44k last week. Not much margin in it for them and it was easier for me to move it on then deal with the current unknown, they contacted me off car sales.

If you have a look at collectable / specialized cars thee numbers have fallen dramatically which has pushed the prices up. I'm not sure why people are not selling their collectable cars at present? Anything with a Holden badge is sky high at the moment!

Just wondering what you sold...?

[Polyal]

SP - I believe I have seen a rise in toys for sale over the past 2 weeks with the FB pages I have. Same with Justcars.com.au

So for me a few things;

1) People are trying to jump on the gravy train while they a cashed up with super
2) People are stuck and need to sell
3) People see whats coming and are trying to get a decent price now

We were keen on buying shares when all this went down but I am hanging off another a few months for the same reason. Poo is going to hit the fan.

But I am not a financial expert, just watch car sales sites too much.

[Spammy]

Next time I want to sell a car I'm definitely going to advertise it on this forum.

[fiestaz]

Originally Posted by Spammy

Next time I want to sell a car I'm definitely going to advertise it on this forum.

Absolutely.

I offer $0.50c

[Smoke Pursuit]

Originally Posted by Dr Smith

Just wondering what you sold...?

Mercedes GLC250.

[Smoke Pursuit]

Originally Posted by Spammy

Next time I want to sell a car I'm definitely going to advertise it on this forum.

Don't like what we have to say? People aren't desperate yet the Government made sure of that with things like Jobkeeper and Jobseeker.

[Smoke Pursuit]

Originally Posted by Polyal

SP - I believe I have seen a rise in toys for sale over the past 2 weeks with the FB pages I have. Same with Justcars.com.au

So for me a few things;

1) People are trying to jump on the gravy train while they a cashed up with super
2) People are stuck and need to sell
3) People see whats coming and are trying to get a decent price now

We were keen on buying shares when all this went down but I am hanging off another a few months for the same reason. Poo is going to hit the fan.

But I am not a financial expert, just watch car sales sites too much.

Ive been mainly watching carsales, things like FPV and FGX XR8.... There was around 40 FGX XR8 on carsales prior to covid19, now there's 21.

Not sure if the markets just drying up (Cars have found their forever homes) or what. Maybe I'm just a bit sad

[Polyal]

Originally Posted by Spammy

Next time I want to sell a car I'm definitely going to advertise it on this forum.

HAHAHA I agree, or some root cause analysis shows those who pipe up are in sales.

[Whitey-AMG]

Originally Posted by Smoke Pursuit

If you have a look at collectable / specialized cars thee numbers have fallen dramatically which has pushed the prices up. I'm not sure why people are not selling their collectable cars at present? Anything with a Holden badge is sky high at the moment!

Too risky...
Splashing cash around at the moment is crazy unless you’re swimming in it.
With some form of COVID restrictions forecasted well into 2021 and revised economic forecast for most of the country that looks like $7!T I’m not sure that investing in collectable cars is the wisest choice.
People can advertise high prices but I wonder how many will Legit exchange hands at the price advertised.

In Victoria at least there is word that some manufacturers are diverting their fleets to other states as Vic has slowed down completely. Most people hanging onto their cars now and not upgrading as cash flow slows down completely.

[fordomatic]

Depends how you play it really, when selling my FG XR6T. It was immaculate with low kms, I had 20k on it, most were priced around 16-18k. Every day I had offers of 12-15k, to which i replied to come and look at it and then i'll talk $, none of those people actually came to look. First person to call me and then look at it bought it for asking price.

Then you look at when i bought that car, it was fully optioned and a year old with 30,000km on it. It was put up for 31k that morning, similar were selling for around 32-35k with no options. I went and looked at it, had a really good chat to the owner as he was a nice bloke. He said I could have it for the payout figure of 26500 for the loan he had on it as he wanted a quick sale to buy a car that weekend and the dealer only offered him 23k and he needed enough to pay out the loan.

Our Outlander we have now was advertised for 18k at the time, was priced about right at that amount. Went and looked at it, exactly the same as the XR6T, they just wanted to pay out their loan as dealer offered bugger all. I got it for $10500 and even 5 years on it's still insured for $14,000.

It all depends on circumstance. I've found if you actually go and see the car in person and be nice you can get a feel of how negotiable they are, by calling the owner first you can also get a feel for what type of person they are. I've not bought heaps of cars simply because of the way the owners talked on the phone. I'm also very patient, i'm happy to look for as long as it takes to find a good deal. Generally low balling wont work if you simply "low ball", negotiating works far more often.

EDIT, this xxxxx cash today crap, how else are you going to pay for it? Get the same with parts and it drives me crazy, "ï'll give you $1000 cash right now". I've only been offered crack as payment once, and that was for an AU part. Of course you are paying with cash, you are not going to pay with a gold bar.

[Polyal]

Originally Posted by Smoke Pursuit

Don't like what we have to say? People aren't desperate yet the Government made sure of that with things like Jobkeeper and Jobseeker.

Not super (ha pun) with the Govco payments propping up used car sales! Imagine if all this cash was actually spent on restructuring and looking to the future.

Nah easier to throw cash and hope for the best.

[Spammy]

This is the first time a lot people have been in a recession, unemployment is 10% or higher and government subsidies only get you so far.

Do you really think used car prices will hold up?

[fordomatic]

Originally Posted by Spammy

This is the first time a lot people have been in a recession, unemployment is 10% or higher and government subsidies only get you so far.

Do you really think used car prices will hold up?

Mate, have a look at the market, used car prices have gone up, not down. Especially in the performance car world.

[Polyal]

Originally Posted by fordomatic

Mate, have a look at the market, used car prices have gone up, not down. Especially in the performance car world.

For now, alot of people are about to be burnt unless Gov dishes out cash until a vaccine comes. If thats the case then all bets are off, this country has no investment risk.

[fiestaz]

With people getting away from public transport, used car sales have gone up.

If things get worse economically, people will still need cars. Whether this means we will see people getting out of newer cars into older cars, who knows.

[Spammy]

I'd rather have someone be honest and say they want to buy the car and here is their best offer, rather than test drive it, ask a hundred inane questions and then never hear back from them.

The car I'm looking at is in no way collectable or performance based, so I'm not dealing with, or competing against, bogans with misplaced views on what is an investment and what is an appliance.

[fordomatic]

Originally Posted by Polyal

For now, alot of people are about to be burnt unless Gov dishes out cash until a vaccine comes. If thats the case then all bets are off, this country has no investment risk.

Agreed, but I was saying in March that prices were about to plummet and then they went up but now those people don't have their 20k of super anymore sooooo maybe prices will go down this time.

I'm keen for some bargains though

[Bossxr8]

Once jobkeeper winds up the market will crash for sure. Good time to sell atm, but it won't last long.

[Polyal]

Originally Posted by fordomatic

I'm keen for some bargains though

Same. I like the save function on carsales..LOL

Ive been tempted to advertise the ZF at a silly price to see who would bite, but alas I CBF and dont want to add to the nonsense.

[Whitey-AMG]

Originally Posted by Polyal

For now, alot of people are about to be burnt unless Gov dishes out cash until a vaccine comes. If thats the case then all bets are off, this country has no investment risk.

Yep, won’t be long before people start realising that their super forecast needs to be severely truncated and may even need to be drawn down on heaps earlier than planned and their expected cash flow shrinks by 50%

If you still owe a lot of money by the time you need to draw down then you’re really farked...
As it stands right now any cash flow needs to be diverted urgently to debt minimisation and not on discretionary spending. GovCo will bail out of payments in March next year with no clear line of sight to what a recovery will look like as the situation is too fluid and at risk of spot restrictions every couple of months.

[au2000]

When i brought my G6ET from the dealer they had it up for $45000 drive away.. i liked it .but was not in love with it so i was one of those low ball offerers and threw my hat in the ring at $35000 drive away...
It was 8 months old and had 6000ks on it.
I got laughed out of the dealership
2 weeks later.. when the keys were in my hand and i was leaving with the car mats and spare badges at $35000 i was the one laughing.
Point is.. does not hurt to ask.. we all have our own budgets and prices .. occasionally you win and loose but as its been said, its more about how you do it.

[fordomatic]

Deleted

[BENT_8]

I enquired about an 04 Prado Grande on Saturday id found on Gumtree, they were asking $11.9k, it was a fair drive so i was upfront about what i had to spend so as not to wasye anyones time, told them i had 9.5k, would drop a deposit of 1k and pick it up with balance paid on Monday, they accepted before disclosing paint damage on drivers side so i respectfully declined and thanked them for their honesty.

[Poetic Justice]

Originally Posted by Spammy

I'd rather have someone be honest and say they want to buy the car and here is their best offer, rather than test drive it, ask a hundred inane questions and then never hear back from them.

The car I'm looking at is in no way collectable or performance based, so I'm not dealing with, or competing against, bogans with misplaced views on what is an investment and what is an appliance.

Fair enough. As someone who sells cars for a living the issue is (and this is why we get angry) if the conversation starts with "I'll give you $7k less than you're offering" generally makes the salesperson think you're a dick not worth pursuing.

This is usually followed by "I'm a serious buyer" which after 15 years in the trade I urge you to believe me when I say that it always means they are not a serious buyer.

As others have said if someone genuinely wanted to buy the car they'd put more effort in to it.

[Blue Dog]

Originally Posted by Spammy

With new car sales down the proverbial and Covid here for a lot longer that we imagined, what does everyone think about used car prices?

I'm in the market for a used car in the low 20s - my aim is to find a sellers looking for $30k and offer them $23k cash today, take it or leave it.

Perhaps you should consider changing your forum name from Spammy to Rick Harrison.

What particular vehicle is it you're interested in paying $23K for, that an existing owner thinks would be worth $30K?

[Franco Cozzo]

Originally Posted by GasoLane

Playing the devil's advocate here but if you were selling a car for $30k would you take $23K?

Yes because I advertised it at $30K expecting low ballers and wanted $23K for it then I 'negotiated' down

Always advertise it for a couple thousand higher than you want because it gives you 'negotiation' room.

[Spammy]

Originally Posted by Blue Dog

Perhaps you should consider changing your forum name from Spammy to Rick Harrison.

What particular vehicle is it you're interested in paying $23K for, that an existing owner thinks would be worth $30K?

I'm looking at 2014/15 Lexus Is250. Redbook has the trade in at about $18k, there are a few for sale in the mid 20s with high kms or 22in Tempe tyres rims, which is good as it drags down the price of all of them.

I really don't care what the seller thinks it's worth, I'm the buyer and it's my money and a car will only sell for what a buyer is prepared to pay.

[Smoke Pursuit]

Originally Posted by Spammy

I'm looking at 2014/15 Lexus Is250. Redbook has the trade in at about $18k, there are a few for sale in the mid 20s with high kms or 22in Tempe tyres rims, which is good as it drags down the price of all of them.

I really don't care what the seller thinks it's worth, I'm the buyer and it's my money and a car will only sell for what a buyer is prepared to pay.

Good try that doesn’t always work. I’ve got a wovr you can have for 23k tho.

[Dr Smith]

Originally Posted by Spammy

I'm looking at 2014/15 Lexus Is250. Redbook has the trade in at about $18k, there are a few for sale in the mid 20s with high kms or 22in Tempe tyres rims, which is good as it drags down the price of all of them.

I really don't care what the seller thinks it's worth, I'm the buyer and it's my money and a car will only sell for what a buyer is prepared to pay.

I've yet to see anything sold where the buyer forced the seller to agree...unless they had a gun in their hand....a buyer only buys when the seller agrees, not the other way round.

[CyberWasp]

A lot of people have a weird trait where they always over value what they have to sell and under value what they want to buy.