Used car market

[HappytalkAgain]

Spot on, we sold the wifes SLC, another car that had every option picked from new. The offers were frankly derisory, valueing the car alongside others that were poverty spec at best. Makes you wonder if any nicely specced car is worth buying at all.

Agreed. Makes no sense. Unless you advertise privately at a price you’re happy with in the hope someone will be searching for a well spec’d example (as I did with ours).

In the past when we’ve been lucky enough to spec a factory build we’ve just accepted that the options we pay for are for our own pleasure whilst owning the vehicle.

 

[rf065]

Agreed. Makes no sense. Unless you advertise privately at a price you’re happy with in the hope someone will be searching for a well spec’d example (as I did with ours).

In the past when we’ve been lucky enough to spec a factory build we’ve just accepted that the options you pay for are for your own pleasure whilst owning the vehicle.

Agreed, even advertised on both of these forums and got no offers at all, low mileage SLC 300, 10,000 miles only. Eventually traded in and sold within 10 days for £5,500 more than we got for it.

 

[Scooby_Doo]

Part exchanged my 2018 C250d 4matic (30,000 mile FSH) in April for £21,500 and went on sale with the MB dealership next door to the Porsche dealership for £24,500. It sold within about 4 days. WBAC offer in April was £21,500 and early December was £14,350 . I was happy with my deal , only paid £31,500 for it in 2018 pre reg.
I doubt very much the new owner would be as happy with the £10,000 drop in 8 months.
When I bought my car I had a choice of two White ones, both identical, with consecutive registration numbers. I was trawling through Autotrader earlier this week and found the other white one for sale at circa £21,000 , so some dealers are still asking sky high prices.

 

[Will]

I think cars with good options and in above average condition are a lot easier to sell.

I looked at four examples of my model of car for sale over a period of several weeks/months (all at the same main dealer) and only bought my one because the condition was excellent and it had a fairly good spec. Perhaps not everyone is like this but certainly you do see poor examples of cars with low spec for sale for a long time (in other words, they need to be cheaper to move)

In terms of ‘trade’ value, possibly not so much for the mainstream - but specialist dealers in niche/prestige/sports cars seem to have a better understanding of their market and can sometimes offer more.

Buying/ordering a car new is different though, the cost of options is relatively high and any additional value/benefit of these is relatively low - which makes them great used cars to buy!

 

[rf065]

I think cars with good options and in above average condition are a lot easier to sell.

Not for a private owner though, much easier for a dealer offering finance and warranty though.

 

[SpikyMikey]

Both of ours have dropped like a stone in recent months according to Motorway and their value tracker.
Can't say I'm all that bothered; I know I paid over the odds for the Beemer, but it was pretty much exactly the spec. I wanted apart from colour. It could have taken an age to find another.
I tend to keep hold of cars for at least 5 years so who knows what the market will be like when I come to sell on. Meantime, just driving it and enjoying it.

 

[Will]

Not for a private owner though, much easier for a dealer offering finance and warranty though.

Surely that’s the case no matter what the car is though, in other words you’re saying it’s tough selling a car privately in general. Are you basing this just on your experience with your SLC? It’s more to do with it being a £20k+ private sale IMHO.

I’ve just seen the advert - looked/sounded like a great car to me but IMHO the advert wasn’t brilliant and to be fair you were trying to sell a convertible/sports car at the end of October and I’m assuming from the photos you are located ‘up North’ - so perhaps again easier if you’re near a major city etc - larger pool of buyers?

Also, no idea on the price you were asking - I mean if I was looking for one and it was similarly priced to average examples I would have snapped it up if it checked out in the flesh. But I have no idea on what the values of those were like back then or now as I’m not in the market for one!

Probably not going to be a huge market on here either - despite being an enthusiastic bunch most people on here already own a car - Autotrader, eBay etc are probably where most of the car buying public will go to find a car for sale

 

[Bobby Dazzler]

Part exchanged my 2018 C250d 4matic (30,000 mile FSH) in April for £21,500 and went on sale with the MB dealership next door to the Porsche dealership for £24,500. It sold within about 4 days. WBAC offer in April was £21,500 and early December was £14,350 . I was happy with my deal , only paid £31,500 for it in 2018 pre reg.
I doubt very much the new owner would be as happy with the £10,000 drop in 8 months.

Blimey that would sting. That said some of it is the dealer’s margin, warranty and preparation costs which the owner would have expected to lose. This is just the kind of information I was hoping would be posted in this thread, real cars and real values.

 

[ALFAitalia]

Of course they’re worth buying.

Not really especially if you by new. If you buy them because you want all the extra and are happy to pay for them...that's great. But don't go thinking it will be worth significantly more when you chop it in....it won't be. When I was selling we used to say that lots of extras will often help a car sell faster....but not usually for more money.....so we based PX figures on the book price....regardless of the extras fitted. I was honest enough to warn customers about fitting too many extras when they specced a new car....especially if they were one of my regulars.
If you buy used, hunt one with all the kit....it won't cost much, if anything, more. Condition affects price way more than extras.

 

[Darrell]

If you buy them because you want all the extra and are happy to pay for them...that's great.

I’ve always bought cars (and motorbikes) to enjoy. I buy with my heart.

 

[Scooby_Doo]

Blimey that would sting. That said some of it is the dealer’s margin, warranty and preparation costs which the owner would have expected to lose. This is just the kind of information I was hoping would be posted in this thread, real cars and real values.

I'm sure I could have pushed for a better p/ex price but the deal for the Macan was too good to miss. The usual " my car was immaculate" did actually apply to my C250, I'd only recently swopped out the Artico seats for a virtually brand new set in "real" black leather and put on stitched top door cappings, the interior was like new. Bodywork was free of dents and scratches apart from a few stone chips on the front. Wheels were totally unmarked and had Michelin crossclimates all round with about 6mm tread. Full MB service history and sold with a prepaid major service (inc transmission filter and oil) due in a few months. Any potential buyer would have looked at the interior and would have discounted any other C class with the customary Artico seats.

As an aside, there was a thread on here about refund of unused service package. As above, the car had a paid for outstanding service which I did point out to the Porsche SE. About 4 months after the sale I had £425 credited to my bank account from MB for the unused service. Obviously I didn't querry it.

 

[ALFAitalia]

Blimey that would sting. That said some of it is the dealer’s margin, warranty and preparation costs which the owner would have expected to lose. This is just the kind of information I was hoping would be posted in this thread, real cars and real values.

How much DO you think a dealer should make on your car after you PX it then?

 

[Will]

How much DO you think a dealer should make on your car after you PX it then?

I read BD’s post as more a reaction to do with the drop in value (£7k) since April rather than the £3k markup from trade in to retail?

Either way the car has lost a huge chunk in 8 months going by two offers from the same buyer

 

[ALFAitalia]

Gotcha.....but it was 5.5k markup.....which might upset some!

 

[Will]

Part exchanged my 2018 C250d 4matic (30,000 mile FSH) in April for £21,500 and went on sale with the MB dealership next door to the Porsche dealership for £24,500. It sold within about 4 days. WBAC offer in April was £21,500 and early December was £14,350 . I was happy with my deal , only paid £31,500 for it in 2018 pre reg.
I doubt very much the new owner would be as happy with the £10,000 drop in 8 months.
When I bought my car I had a choice of two White ones, both identical, with consecutive registration numbers. I was trawling through Autotrader earlier this week and found the other white one for sale at circa £21,000 , so some dealers are still asking sky high prices.

Gotcha.....but it was 5.5k markup.....which might upset some!

Sorry have I missed something here?

 

[Mactech]

Used car prices are all over the place at the moment and appear to be very model specific.
Certainly I agree that overall used prices have softened, but there are some sectors which are big losers and some that are not too badly hit.
I bought my i3 back in August when prices had been in free fall from October 2022. Since then, whilst they have not risen they have certainly not fallen much. My little BMW was just 5k miles old when I bought it for £18K from a BMW dealer. I'm pleased with the car, and pleased the prices have not continued in free fall... I can't find a similar late 2020 car for less than £20k now!

I hope this is real data, not just opinion.

 

[Bobby Dazzler]

I read BD’s post as more a reaction to do with the drop in value (£7k) since April rather than the £3k markup from trade in to retail?

Either way the car has lost a huge chunk in 8 months going by two offers from the same buyer

Exactly that

 

[Bobby Dazzler]

Gotcha.....but it was 5.5k markup.....which might upset some!

I read the Mercedes dealer markup (gross) being £3k, but of course we don’t know what the Mercedes dealer actually paid for it, nor what the buyer paid for it. Based on the numbers provided though it looks like £3k gross?

 

[ALFAitalia]

Sorry have I missed something here?

Eventually traded in and sold within 10 days for £5,500 more than we got for it.

I was referring to this one....

 

[Will]

I was referring to this one....

Oh dear - you were quoting the wrong posts then!