second hand prices down 15%


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
 
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)....
 
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.
 
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
 
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.
 
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
Click to expand...
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.
 
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
 
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.
 
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
 

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


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
 
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 )
 

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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