The car market is crashing...keep your eyes open for bargains

[Zak33]

Hi guys

I'd like to tell you that the car market is busy.... but it's patchy and tricky and sliding.

So...please, if you've ever wanted a big car, NOW is the time. I'm seeing Mercs, and BMW, Lexus and al the other heavy hitters, falling like snow in the arctic in price...

it's a downward spiral. I was trying to get a Lexus 220 D underwritten last week and it was hell.....no one will even BID. Ditto for BMW X5, Merc ML and a load of other stuff.

So....while the humble Micra's of this world are safe from Lemming_Depreciation, thwe big enginedm, heavy tax disk cost monsters are in free fall.

Glass's Guide?Chuck it away...no use at all.

Diesel Estates are still quite strong, on the whole, but saloon and 4x4 and hard.

If you want a newer car....now IS the time. Go shop.....

[dave87]

The big petrols 2.5l+ seem to plummet, as do 'sporty' models, though to a lesser extent.

IE Clio 197s seem to be sticking to their prices, 330ci plummeting, ditto 530/540i, even more so for 750i.

I think there was a 750i 2 years old up for 20k on Pistonheads, that must have been a fair chunk over 50k new...

[staffsMike]

I'm quite suprised at how much people are still asking for the Ignis Sport. I had a think about selling it not long ago and people wanted £5500 for an older one than mine albeit slightly lower milage. Crazy really when I spent less than £6000 on it over a year ago now.

I doubt this applies to the bigger car market but my cult car seems to be holding its value very well Future classic? nahhhhhhhh

[Guy]

The value of mine has plumitted, (not that it was worth much in the first place!), but now its more worth my while, keeping it and fixing it, rather than jumping ship to something different.

Still doesnt stop me wanting a manual V70 T5 though. . . .

[Lucio]

It's hardly surprising, the new tax regime will be hitting the pockets of those that scraped together the money for a bigger, flashier car and combined with the ever increasing fuel prices it's hardly surprising all the large saloons and 4x4's are being ditched.

[dave87]

The value of mine has plumitted, (not that it was worth much in the first place!), but now its more worth my while, keeping it and fixing it, rather than jumping ship to something different.

Still doesnt stop me wanting a manual V70 T5 though. . . .

Nah, you want the V70R, such a sleeper

[joshwa]

I was a big old 4 litre Jaguar pre 2001 so tax will stick to £180 for the rest of it's life (hopefully)...

Surprisingly according to Parkers, my TDI Passat is worth almost exactly the same now, as it was when I bought it 12 months ago which is nice...

James Ruppert (of bangernomics / autocar fame) reckons it's time to chuck away the Glasses guide subscription and use whatcar / parkers £3 books instead... as that's what the public use...

[Guy]

Maybe, but still get a white T5, stick a traffic cone in the boot, and hang a flurecent (sp?) jacket over the back of the drivers chair, and add a few aeriels on the back, and cue not many people ever going past you on a m-way

and the fact that it is quicker than my 200!

[kaillum]

so i'm safe with my '53 plate BMW 320 D SE Touring that I bought 6 months ago?? glad I got rid of the 1.8 Petrol Freelander! 25mpg to 50mpg

[dave87]

so i'm safe with my '53 plate BMW 320 D SE Touring that I bought 6 months ago?? glad I got rid of the 1.8 Petrol Freelander! 25mpg to 50mpg

Yea, just watch it doesn't decide to munch part of the injection system.

[UseItNow]

I was just looking at getting either a 2/3 year old Lexus IS220D or a 3/4 year old 5 series BMW.
What's the new vehicle tax costs likely to be in the next few years, as I seem to have missed this from the budget. Apologies.

Anyhow, how much would I be looking at for either of the following from a dealers say, perhaps:
-Lexus IS220D SE-L on a 55/06 plate with <40k miles?
-BMW 520d/525d SE/M-Sport on a 54/05 plate with <40k miles?

Thanks.

[BUFF]

I was a big old 4 litre Jaguar pre 2001 so tax will stick to £180 for the rest of it's life (hopefully)...

going up to £210.
I've got a pre 2001 Vx Omega estate that I was thinking of changing but may just drive into the ground now.

[Rave]

I knew this would happen. Too many people took out second moprtages and rubbishrubbishrubbishrubbishrubbished the money on flash cars- flash petrol cars, mostly. Now the credit crunch has hit and fuel prices have gone through the roof, they've all got to go, and so prices are plummeting. It's simple supply and demand.

The price of small, frugal cars, and diesel family cars/estates should hold firm or even increase. The same thing happened in the early 90s recession.

[BUFF]

afaik it's more down to the future car tax regime than the price of fuel - read an article on it in the Sunday Times (last week I think).
People are figuring future increase in running cost & deducting that from the value.

[Rave]

If you can afford to buy a &#163;30k car and stomach &#163;5k+ a year in depreciation then an extra &#163;200 a year in car tax is a drop in the ocean. &#163;200 is about two tankfuls of fuel for an X5 or similar.

This is, IMO, very little to do with Vehicle Excise Duty and very much to do with harsh economic reality.

[BUFF]

It's largely not the initial buyers that are getting hit though but the people buying s/h so the VED increase is more important to them as they mostly aren't paying 30K, indeed even relatively mundane cars like some Ford Focus models are going to see massive increases in VED.
It's the second user market that has drastically dried up.

Also, apparently a lot of people on personal lease plans are going to get hit with negative equity when they come to the end of the term because the resale value won't be what was originally forecast.