Discuss - 2009 cars

[bluevenetian]

New car production has slumped so does that mean : "in 3 years time the second hand market for 2009 cars will be relatively stronger than preceeding years because there are fewer vehicles of this vintage to choose from?"

Or "Will 2009/2010 registered cars attract strong discounts in the second hand market in three years time because buyers will be aware most of these vehicles were marked down when sold new?"

Also "will 09 and 59 registrations be a mark of doom on second hand cars given many cars sold this year will actually have been manufacturered in 2008 or even 2007 and stood in vast parking lots and thus creating the perfect breeding ground for electrical gremlins to?"

You may now turn over your examination sheet and commence

 

[Deleted member 11979]

You mean people will be able to afford to buy cars in the future? I thought the world was ending?

 

[KNU7S]

A friend on mine just bought a SAAB 9-3 Cab Diesel (I know SAAB is having a bad time) last year when he was looking the car he wanted was around £32,000. He has just bought the same spec for £18,500 from a SAAB dealer on a '09 plate.

The majority of the cars purchased in the next few years (except brand new models) could be up to 2 years old!.

Used car prices will not recover long term, with the increase in road tax and the price of fuel increasing.

Buying a new car will be a luxury from now on

 

[Seamster15]

Only seen one 09 plate car so far, considering the town that I live in its a massive surprise....

 

[wemorgan]

Only seen one 09 plate car so far, considering the town that I live in its a massive surprise....

Guildford is so affluent everyone has private plates

 

[JumboBeef]

A friend on mine just bought a SAAB 9-3 Cab Diesel (I know SAAB is having a bad time) last year when he was looking the car he wanted was around £32,000. He has just bought the same spec for £18,500 from a SAAB dealer on a '09 plate.

I like Saabs and have had a number over the years but there is no way on earth I would buy a new one at the moment: I think values will go through the floor (just look at Rover).

 

[bluevenetian]

As a keen new number plate geek -- anyone remember the British Leyland ad for 1977 which went something like "S plate special coming down the line!" ?-- I've a;sp been keeping a sharp look out and have only clocked one 09 plater -- although it was an Aston Martin convertible.

Some of the price offers on new cars seem very strong, they must be shifting them at a loss no?

 

[KNU7S]

I like Saabs and have had a number over the years but there is no way on earth I would buy a new one at the moment: I think values will go through the floor (just look at Rover).

The price of SAAB's always do, if you buy the right one they are not too bad, Just try finding a reasonable Rover 75 Diesel Estate!

Buying any new car i would expect to loose half of its value in the first 2 years

 

[Smiley]

Back to the original question - used values of 2 yr old cars in 2 yrs time will be a higher proportion of the new price - due to supply and demand - demand may still be weak at that point but supply will be even lower. So whilst it may feel wrong now may be a good time to buy a new car.

 

[James Rothwell]

I've only handed over 6 new 09 plate cars this month, compare that with March 2006 when I did 27.

Used sales are up though without a doubt. My main problem at the moment is all this talk in the media of dealers being in trouble and you can get a new car for £8.30 is all rubbish, people get annoyed with me when I have to tell them that they can't have a £24k car for £20k because our margins haven't got any larger and the manufacture can't really help because they have to buy the cars from the factory at Euro prices with Sterling which is worthless.

I've noticed the value of decent 2/3 year old stock has increased because they are so few available to you tend to have to pay over the odds to get the right stock which has to be passed onto the end user. I think you'll find over the next 8-12 months the prices of in-demand used cars will go up in price whilst big engines stuff will level out or may even drop some more but I think people who've got them now can't afford to let them go since they will be so far upside down on the finance that they simply won't be able to get out of their cars without pouring £5k-£10k into the finance company.

 

[Howard]

Not seen an 09 plate in Tedders yet , now that is a real surprise

 

[280gee]

You mean people will be able to afford to buy cars in the future? I thought the world was ending?

It is ending, but nobody knows exactly when...
Lots of theories about it of course.

 

[Benzowner]

I have seen one 09 plate so far, they are indeed rare. As regards second hand market, I suppose it is possible that if the new car sales stay low for a couple of years, I can see the price of second hand cars rising as result of scarcity value, assuming the second hand market picks up and credit becomes available

 

[bluevenetian]

Second hand prices for small runaround cars like Fiestas and the like seem to be holding up well, in fact a friend who has been looking to buy a 2 year old Nissan Micra saw the price actually go up! The vendor said it was because he had been swamped with inquiries -- people watching to get into cheaper to run cars apparently.

 

[crammy69]

The guy who lives opposite me has just bought a 09 plate Bentley GT Convertible, but has coverd it up with his private plate already ( does that make him modest or more flash?). Weirdly enough the firm he runs/owns does all its work for banks and trading rooms, so despite the gloom there is obviously still money around ( taxpayers maybe...). Other than that, one other neighboor has bought a '09 plate Maserati, looks lurrvely.

Me? I need a new gearbox ;-)

As for the original question, I reckon a mixture of low 09/10 registrations, GBP devaluation, and infaltion pressures will mean that nearly new 2nd hand car's will, in nominal terms at least, remain firm. However, if the direst of predications on the jobless rate is realised, the vast amount of cars bought on finance hitting the market for short periods as it did in December/January.

 

[hawk20]

When we come out of recession there are going to be huge tax hikes to pay for all the money that has been -and still is- being thrown at the banks. We need to guess which taxes will be increased.

Here's my shot: VAT might return to 17.5% but is more likely to go to 20%.

VED rates will be increased especially on larger engines -using saving the planet as the excuse. Fuel duty will be increased as well.

2009 cars will be in short supply and new cars will be much dearer due both to taxation and the fall in the pound. Second-hand prices for sensible engine sizes will be strong.

 

[oldcro]

It is ending, but nobody knows exactly when...
Lots of theories about it of course.

Tomorrow?

 

[219]

Only seen one 09 plate car so far, considering the town that I live in its a massive surprise....

I don't pay any attention to number plates - a piece of plastic on the back of a humdrum lump of tin is of no interest to me .

 

[Bobby Dazzler]

Here's my shot: VAT might return to 17.5% but is more likely to go to 20%.

The VAT expert at work has suggested 19.5% in January.

We're already planning the huge amount of work involved.

 

[bluevenetian]

Is it likely to be the case that once the car makers have either gone bust or laid off half their workforce -- and thus produce fewer cars -- the demand supply ratio will balance out again and prices of new cars will strengthen, with a knock on impact on the second hand market? I've no idea!