Open Market Selling Price adjustments

M

Mick Dundee

Registered User
Messages
18
Folks,

just wondering if the OMSP of cars (on the revenue-on-line VRT calculator) will change with the New Year? Am thinking of purchasing up North given the exchange rate at present. However, if the OMSP was to change (as it should given that all 2nd hand cars will be a year older in January compared with what they are now on Dec 31st) would it be worth holding tough for a while?......

Comments appreciated,
Mick
 
its actually from the date the car is registered, so a car bought in june of this year isnt a year old till june 2009...
 
OMSP on the vrt website of all vehicles are overpriced and will
probably stay that way given the state of government finances.

Dont expect them to drop anytime soon but they might surprise us.

Hope to make my second trip north soon to get second car,outstanding
value to be had compared to they fleecers down here.
 
The government will have to react to the flow of vehicles coming in from NI and UK if they want to save the motor industry down here.

Anyone would want to be mad to buy here at the minute.
 
OMSP should reflect realistic market value which shouldbe dropping significantly given the state of the car sales.

Don't SIMI reveiw them once a quarter or something like that.

Some value to be had north and uk.

Heard an ad for a place in belfast offering to take in eire trade ins as well and make it all very easy.

With the currency the way it is an 08 320d or 520d has to make a lot of sense
 
Frank said:
OMSP should reflect realistic market value which shouldbe dropping significantly given the state of the car sales.

Don't SIMI reveiw them once a quarter or something like that.

Some value to be had north and uk.

Heard an ad for a place in belfast offering to take in eire trade ins as well and make it all very easy.

With the currency the way it is an 08 320d or 520d has to make a lot of sense
Click to expand...

Frank,

what is the name of the place in Belfast that does the trade-ins?

Certainly, great value up North and especially with the diesels and their low VRT %.

Mick
 
Heard the ad on todayfm didn't get the name sorry. Will keep an ear out though.
 
Charles Hurst is the dealer advertising to take ROI trade ins and also vrt the car,now thats service.their are dealers down south not even offering to do that on cars they have imported.When will they cop on that people
are not going to put up with this anymore.
 
Thanks guys,

absolutely agree with all the comments. Just to close out the discussion, I will give SIMI a shout and see when/how often the OMSP is updated (or if they know at all). I'll be very surprised if there's much technique involved but...... It's another fairly influential variable in the equation so it's info worth knowing if, like me, you're in no mad hurry to change a car.

BTW and it's a question for a different section of this site really but I'll ask it anyway. Is it true that loans with the credit union for the likes of a car are not examined when applying for a mortgage. I'm asking as I plan to but a house over the coming 6-12 months and don't want a car loan taken out now to back me into a corner when I'm looking for a mortgage?


Mick
 
Mick Dundee said:
Is it true that loans with the credit union for the likes of a car are not examined when applying for a mortgage. I'm asking as I plan to but a house over the coming 6-12 months and don't want a car loan taken out now to back me into a corner when I'm looking for a mortgage?

Mick
Click to expand...

When applying for a mortgage you should declare all borrowings so that the bank can use their systems to assess the affordability of the loan for you. In the past credit unions did not subscribe to the Irish Credit Bureau so when they bank would do a credit check, the Credit Union loan would not show up, this has started to change as more Credit Unions subscribe to the [broken link removed].
IMHO factors such as job security, loan to value and the type of property are the main factors that will influence your mortgage application in the next twelve months. Being able to show a credit union account with regular savings and a loan paid back on time may demonstrate to a mortgage lender that you are financially responsible.

Back on topic, I am also considering the UK import and had read on www.boards.ie that the OMSP's change on Jan 1st each year.
 
Just did a VRT calc on revenue website and sure enough, the OMSP has dropped over the last couple of days!!! Not by a lot though - maybe €1,000 or so for the car I was checking out which meant a drop of about €200 on the VRT.

Interesting......
 
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