# second hand prices down 15%



## capall (22 Jun 2008)

Can anyone explain why this is. My understanding is that second hand cars aren't affected by the change in vrt and motor tax.
Is this really true about the price falls anyone have recent experience buying or selling SH


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## j26 (22 Jun 2008)

I don't know about the car market, but the motorbike market is very quiet and prices are falling significantly.


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## RS2K (22 Jun 2008)

Source for the 15% claim please?

The motor market is stagnant. Lots of cars imported, and many people waiting to change to the new lower vrt/road tax fleet.

Credit is tighter too, and the economy is in trouble. Optimism is down, and motorists are thinking twice about long trem committments.

Some good stuff on www.boards.ie concerning this stuff. Subaru's for €12k off the old price etc. €10k+ overpriced new Audi A4 1.9TDI's still attempting to be sold by dealers.

Some silly stuff going on.

No idea why the motorbike market is goosed. Maybe economics again?


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## Frank (22 Jun 2008)

Drops on teh new price should all filter down the market.

320d down by about 7k definitely going to effect the price of 07 320d.


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## iggy (22 Jun 2008)

RS2K said:


> Source for the 15% claim please?
> quote]
> Irish Indo Saturday June 21st.....


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## DOBBER22 (24 Jun 2008)

I've been trying to sell my 1.6 05 Mitsubishi Lancer on Carzone for the last 6 months with no takers I don't think theres much moving at all and I have the price down to 11k


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## carpedeum (24 Jun 2008)

I have had my 2006 Avensis on Carzone for two months... immaculate, low mileage, unmarked, underpriced...  NOT ONE INQUIRY! I've garaged it reluctantly waiting for the market to restart. The word is that people are confused over the changes in July!


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## Guest117 (25 Jun 2008)

carpedeum said:


> I have had my 2006 Avensis on Carzone for two months... immaculate, low mileage, unmarked, underpriced... NOT ONE INQUIRY! I've garaged it reluctantly waiting for the market to restart. The word is that people are confused over the changes in July!


 

Just curious as to when the market will be restarting ? Is it 1st July, 1st August, 1st Sept - My advice drop the price and get rid!


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## j26 (25 Jun 2008)

RS2K said:


> No idea why the motorbike market is goosed. Maybe economics again?



Same reasons as the car market, plus a fair proportion of bike owners are hobbyists and also have a car - if they are feeling the pinch the bike goes so they don't have to pay tax, insurance etc.  
Also the exchange rate with sterling means that a lot of bikes are being imported.  I would have gone to the UK if I'd had the time to go over when I was changing mine.


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## carpedeum (25 Jun 2008)

badge55 said:


> Just curious as to when the market will be restarting ? Is it 1st July, 1st August, 1st Sept - My advice drop the price and get rid!


 

Thanks for the advice badge, but, I'm not going to sell it for nothing! If not sold by the end of the summer, I'm giving back the Company car (08 Mondeo) and reverting to the Avensis (lighter car though better engine)... savings on BIK will compensate.


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## Guest117 (25 Jun 2008)

Good plan Carpedeum

Though you will miss the new Mondeo methinks - my missus has one and I likes it - I tried to talk her out of buying it because I had driven an old one - but she made me test drive it and won that battle easily then!

Maybe you can charge the company mileage and subsistence in line with approved civil service rates


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## brianmc (25 Jun 2008)

I'm trying to sell an 03 Golf 1.4 with only 58K miles, taken it from 9K down to a very reasonable 6.5K and still nothing doing on it.  I know many people trying to sell and they have the same story. let's hope things start happening in July again.


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## MsGinger (25 Jun 2008)

I'm in the market for a used Honda Jazz and I'm wondering if the changes next week will have any more impact on second hand prices - what do people think?


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## bacchus (25 Jun 2008)

brianmc said:


> I'm trying to sell ..


Where do you advertise? 
I can't see it on neither carzone.ie nor cbg.ie nor buyansell, and if i can't see it, you can't sell it..


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## SISSOKO (25 Jun 2008)

Definately one of the reasons car market is quiet is because people
are wiseing up to the dealers and bringing in cars from uk and the north.

I'll be getting my new plates on tuesday for '07 passat, reckon i saved
between 5 & 6k for a day trip up to belfast.
Will have it cleared for less than 22k cheapest one from a dealer i could
find in the south was 27K with higher miles.

Well worth it


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## RS2K (25 Jun 2008)

SISSOKO said:


> Definately one of the reasons car market is quiet is because people
> are wiseing up to the dealers and bringing in cars from uk and the north.
> 
> I'll be getting my new plates on tuesday for '07 passat, reckon i saved
> ...



Absolutely.

Unsuspecting folk importing still need to be aware of a few dangers however. 

Clocking, accident repair, and finance arrears are widespread. HPI suggest as many as 1 in 3 used cars have a dark secret.

I'd always suggest a HPI check, a full and independently verifiable service history, and a full mechanical examination and warranty as being prerequisites before purchase.

There are quite a few horror stories on cut and shuts, and cars with "haircuts".

p.s. I've no connection to the motor trade.


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## Wexfordman (25 Jun 2008)

SISSOKO said:


> Definately one of the reasons car market is quiet is because people
> are wiseing up to the dealers and bringing in cars from uk and the north.
> 
> I'll be getting my new plates on tuesday for '07 passat, reckon i saved
> ...




me too, getting my 07 passat next week from up north. Got a bit curious yesterday though and visited a few local dealers to see what I could scrape out of them and give them one last chance. I got them to drop the price of a 06 Passat Highline with 30k miles from 26k down to 22.5k, and def could have got them down to 22k I reckon. Did'nt go for it in the end, nice spec, but a year older than the oone I'm getting up north and over 100 euro more expensive.

One thing I was thinkong about though was the resale value of a 07 car in a few years. Imagine looking for a second hand car, and a 07 would cost you 540 euro road tax, but a 08 model will cost you onle 240 euro!!! The 07 price will drop cos of that I reckon.
Wexfordman


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## Frank (25 Jun 2008)

Passat imprters 

can you let us all know how you get on next week with pickup vrt etc.

On payment did you use xe.com or similar or just get a sterling draft from the bank?

If xe or the like I assume you just arrange the transfer to the dealers Bank acount.

Best of luck with the new motors.

On the tax I assume it will make a little diff on resale but it is only a few hundred a year so not a complete killer.


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## gradgrind (25 Jun 2008)

> On the tax I assume it will make a little diff on resale but it is only a few hundred a year so not a complete killer


I don't know but I'd guess it'll make a difference which will be disproportionate to the saving.

1.4 cars have always sold and held their value much better than 1.6 cars despite a relatively small tax difference of around 100 euro.

There's something irrational about the way people (including myself) see yearly bills as opposed to a once off expense.


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## SISSOKO (26 Jun 2008)

Frank said:


> Passat imprters
> 
> can you let us all know how you get on next week with pickup vrt etc.
> 
> ...


 
I paid balance with sterling draft frank no probs,expect the vrt to
come in around 5k will varify next week.Got a smashin car though
still has the new car smell..........happy days..............


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## Wexfordman (26 Jun 2008)

Frank said:


> Passat imprters
> 
> can you let us all know how you get on next week with pickup vrt etc.
> 
> ...



Re Currencey trasaction, I used currency.ie, saved a couple of hundred euro.
Currency.ie will transfer direct to the dealers account, but also secured agreement for a refund if I for any reason did not take the car once I see it (how much legal standing this has I dont know, though).
VRT, will let you know on Tuesday 


The current OMSP of the car is just over 25k, so i will have to pay 20% of that, but in theory, the OMSP should also reduce on Tuesday due to the fact that new car price will drop also. Anyone any opinions on this ?
Regards,
Wexfordman


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## SISSOKO (26 Jun 2008)

I was thinking the same thing wexfordman but whether their
system is up dated that quickly i dont know, will have to wait and see.

How does currency.ie work and how do you make savings compared
to draft (already thinking ahead to 2010 purchase)....


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## Wexfordman (26 Jun 2008)

Savings made on currency.ie in that the rate was cheaper than my own bank. No transaction charge for a 3 day transfer, and only 15 euro for same day transfer.


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## DeclanP (26 Jun 2008)

The North and UK certainly seems to be popular for second hand car buyers these days but surely the dealers down South are going to have to wise up at some stage and quote realistic price for second hands.
Looking through carzone.ie for the likes of Audi and BMW and the prices are still bananas and it's no wonder that the Passat heads are delighted with themselves — and fair play to them.
Speaking of which, I am in the market for an Audi A6 or BMW 520, around 2004-06. Any recommendations of where I should go in the north would be much appreciated.


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## SISSOKO (27 Jun 2008)

DeclanP said:


> The North and UK certainly seems to be popular for second hand car buyers these days but surely the dealers down South are going to have to wise up at some stage and quote realistic price for second hands.
> Looking through carzone.ie for the likes of Audi and BMW and the prices are still bananas and it's no wonder that the Passat heads are delighted with themselves — and fair play to them.
> Speaking of which, I am in the market for an Audi A6 or BMW 520, around 2004-06. Any recommendations of where I should go in the north would be much appreciated.


 
DeclanP

Bought my car from agnews they also do bmw and audi's,we had a look
a look at some beamers before we came back they have some
absolute stunning cars on show (second hand)
Boucher road belfast.
www.agnewcars.com


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## DeclanP (27 Jun 2008)

Thanks sissoko, they have a fairly extensive website and very helpful on the phone. They even offered to meet half way if I found a car that I liked.


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## PaulHoughton (29 Jun 2008)

capall said:


> Can anyone explain why this is. My understanding is that second hand cars aren't affected by the change in vrt and motor tax.
> Is this really true about the price falls anyone have recent experience buying or selling SH


Yes, sterling has lost 17-18% against the euro in the past 9 months. The best value 2nd hand cars are all imports. This is enough to explain the fall in prices. 

You are right that the VRT and motor tax changes only directly affect new car prices. But, when new prices drop, there is a knock-on effect and second hand prices also drop by a similar %. 

In the past 9 months, stock has nearly doubled on carzone to 83,000 cars for sale. This seems to support the theory that sellers are holding onto their cars and hoping for the impossible - that their wasting chattels will suddenly decide to appreciate.

Meanwhile there is still value to be had by buying wisely in the UK. 

Dealers have been hoping for an explosion of sales in July, but why not wait until Jan and get the 09 plate?

I predict a massive dumping of stock once dealers start going bust later this year.


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## Wexfordman (29 Jun 2008)

Paul,

Secondhand imported cars are also affected by the changein vrt rates, some have a reduced rate, others have an increased rate, depending on the engine type and emmissions. Passat 1.9TDI for example, second hand import will cost you 25% vrt today, but only 20% vrt on july 1st.
So in addition to the sterling rate bringing lots of savings on second hand car imports, the new VRT rates are also adding more savings for cars like the passat tdi.

Wexfordman


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## doolittle (29 Jun 2008)

bought a 08 jan 118d es with 3000miles for the girlfriend  for £14500 sterling that  £5000 off new. should cost 3,600 euro to clear after 1 july. the dealers over there are in a bad way too and pretty desparte to clear stock, picking up next week and then I'll put some miles on it.


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## Wexfordman (1 Jul 2008)

Well,

Collected my car yesterday from up North, and drove it down, delighted with the purchase, great car, practically new, only 12k miles on it, and just under a year old.

Expecting about 5k VRT, and logged on to the vrt site today, to find it had actually dropped by 300 euor, so VRT was going to be 4.7k, happy days. The OMSP had dropped from just over 25k to just under 23.5k which explains the drop in VRT at 20% of those figures. Dont think the OMSP dropped by enough though, I think it should have been more, seeing as similar new car vaule dropped by 2-3k I think (need to verify that).

Anyway, dropped round to the vrt office today, and yer man came out to check the car out, looking for extras etc. He came back and said he would have to refer the car to rosslare, as it is a 07. He also said the mettalic paint would be charged as an extra, so looks lke I am going to have to fork out a few quid more. Bit of a joke he had to refer it to rosslare though, surely he could get a list of the spec of a 07 car with ease.

SSISCO, how did you fare with registering your passat today >

Wexfordman


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## SISSOKO (2 Jul 2008)

Wexfordman said:


> Well,
> 
> Collected my car yesterday from up North, and drove it down, delighted with the purchase, great car, practically new, only 12k miles on it, and just under a year old.
> 
> ...


 
Wexfordman,

No problems went first thing yesterday only one ahead of me.
Expecting to pay about 5k but same as yourself had dropped
to 4.7k.
He asked to see the car alright said it was because of it
being a '07.He had a quick look at mileage and verified
chassis number but nothing else.
He didnt say anything about rosslare or wasnt bothered 
about metallic paint.I'd say we have more or less the same
car so dont know why it would be different in wexford as
opposed to galway.

SISSOKO


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## paulo99 (2 Jul 2008)

It seems to vary location to location, I have been told its best to go into office in Dundalk. Though I imagine they will be trying to get as much out of you as possible with tax revenues dropping.


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## Vanilla (2 Jul 2008)

Also selling a car at moment- car advertised only couple of weeks but no enquiries. On CBG- they rang to advise that they felt now that changes introduced there would be a surge in car buying secondhand- our car would now cost an extra 1200 per annum to tax if you buy after 1 July, also the VRT would be massive if importing now ( it's a car we imported a year ago). 

Funnily enough our car has every extra going- pop up sat nav and terrestrial tv, full leather interior, third row seats etc etc but we were not charged any extra VRT at the time. Maybe lucky.


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## paulo99 (2 Jul 2008)

Vanilla said:


> On CBG- they rang to advise that they felt now that changes introduced there would be a surge in car buying secondhand



Report back in few weeks as to whether this is a reality or not.


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## Vanilla (2 Jul 2008)

The only thing I would be able to report in a few weeks time is whether MY car has sold by then.


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## teachai (3 Jul 2008)

I have a suspicion that 2nd Hand SUV's will actually increase in value, as they will generally be more expensive to buy new. Poeple buying these, will opt for a 2007, pre-July 2008 model rather than buying brand-new.

That way they won't get caught for the extra co2 emisisons.


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## Wexfordman (3 Jul 2008)

SISSOKO said:


> Wexfordman,
> 
> No problems went first thing yesterday only one ahead of me.
> Expecting to pay about 5k but same as yourself had dropped
> ...




SISSOKO,

VRO rang me today, and all okay, except they are charging me an extrea 70 euro for metallic paint!! 

Think I might contest it. I was thinking about the OMSP as well and I dont think its right. I think the 1.9TDE SE is the same as the Highline here, so I had a quick look at the pre July and post July price of the new highline. The price of a new highline dropped by 2000 euro, whereas the price of my second hand Passat SE dropped by only 1500 euro. Surely the second hand value would drop by at least 2000 euro as well, if not more ?

Anyone any opinions/thoughts ?

Wexfordman


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## teachai (3 Jul 2008)

Is it worth all the hassle for €70.   

What you could do is point out any defects, scratches, worn tyres, etc which would reduce the value.  These guys just go to a simi handbook anyway.

(or just pay the extra  €70 in small demonimation coins )


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## SISSOKO (3 Jul 2008)

Wexfordman said:


> SISSOKO,
> 
> VRO rang me today, and all okay, except they are charging me an extrea 70 euro for metallic paint!!
> 
> ...


 
Wexfordman,

I pretty sure the SE is equivelant to the comfortline but i'm
no VW expert and open to correction but would contest the
€70 as its a standard on the SE not an extra.


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