Second hand car market

[superfly]

I did alright. Sold my then 13.5 year old WRX last year with 235K on the clock for $13250. I had offers to buy sight unseen for $8 & $10K but knocked them back. Just had to wait around for the right buyer. Took 3 months. I've seen others that took over a year to sell.

It's luck of the draw really.

[LG17]

Right now the market is as dead as I have seen.
Cars which should sell for $10000, you are lucky to get $6000 for.
Cars which should sell for $20000, you are lucky to get $14000 for.
If you don't have to sell, hang on until September as it should be ok by then.
If you do have to sell, take what you can get quickly.

[GREGL]

Originally Posted by b2tf

And a very reasonable price it was. One that I was more than happy to pay too.

Makes me roll my eyes when I see people say 'it's a buyers market nowadays' - well no, it always has been and always will be. For the simple fact that unless you have a buyer, you will remain a seller.

Sorry , thought the O.P was talking V8 and a petrol Patrol , in which case it is definitely a buyers market . Where as a while ago they were relatively easy to shift as someone else pointed out .
At present there is a glut of 4 cyl. cars around our area being placed on the footpaths , their not selling either and there not the garden variety 2000 buck s/boxes either .
This tells me one thing , people aren't getting the trade in prices they used to and are trying to get a bit extra and having a hard time doing it .
Just out of interest a Holden dealer in Brisbane was advertising VE's at massive markdowns on Saturday . Calais V8 62 down to 46 , Omega 28K and numerous others all at driveaway prices . Now that should make the people trying to sell their 2 year old VE real happy.

[P6LTD351]

Originally Posted by Polyal

And who actually offers what people are asking for straight up anyway?

An idiot.

The even bigger idiot is the seller who expects people to pay the asking price.

[FlipXW]

Originally Posted by P6LTD351

An idiot.

The even bigger idiot is the seller who expects people to pay the asking price.

Cause I have priced my car to move, and not overpriced it like every other person on carsles im an idiot?
I could ask $20k and it could sit there for months only for you to offer me 17k which I eventually take. Or I can put it up for 17k and you give me the 17k without all the root around, I know which I prefer as both a seller and a buyer.

[Polyal]

Even if I thought it was worth $17k Id still offer $16k as a start...its just a game of who wants the deal bad enough.

[nt0351]

Originally Posted by P6LTD351

An idiot.

The even bigger idiot is the seller who expects people to pay the asking price.

not so mate ,..if you are genuinely in the market to sell and offering something that appeals ,and it is a good car and you price it correctly ,..they pay exactly what you want .

Ive just sold the last 4 of a Ford musclecar collection for very good money didn't budge a cent on 3 of them ,..dropped a couple grand for transport on 1 cos i liked the bloke and he was genuine with what he had to offer ,..all 4 sold within 2 weeks.

had I put an unrealistic ask price on them ,..they would probably still be on the market and i would be subjected to the stupid offers that come with long term stale adds .

on the flip side recently offloaded my off lease company car ,a well worn but still nice 09 G6ET ,..the dealer said $17k to trade it ,I thought it was worth 25k the market said otherwise ,..not a single call ,..the minute I dropped it to $21k ,..the phone goes berserk and it sells the same weekend

[P6LTD351]

Originally Posted by FlipXW

Cause I have priced my car to move, and not overpriced it like every other person on carsles im an idiot?
I could ask $20k and it could sit there for months only for you to offer me 17k which I eventually take. Or I can put it up for 17k and you give me the 17k without all the root around, I know which I prefer as both a seller and a buyer.

The 'root around' is part of the whole game of buying and selling. From my experience, most people want to know they can bargain a little. And yes, I would rather you price it at $20k rather than $17k. If your initial price was 17k, I would expect to get it for 15 - 16k regardless of the market. It's psychological and human nature. So pricing it at 17k, and not budging is actually a waste of my time.

[P6LTD351]

Originally Posted by nt0351

not so mate ,..if you are genuinely in the market to sell and offering something that appeals ,and it is a good car and you price it correctly ,..they pay exactly what you want .

Ive just sold the last 4 of a Ford musclecar collection for very good money didn't budge a cent on 3 of them ,..dropped a couple grand for transport on 1 cos i liked the bloke and he was genuine with what he had to offer ,..all 4 sold within 2 weeks.

had I put an unrealistic ask price on them ,..they would probably still be on the market and i would be subjected to the stupid offers that come with long term stale adds .

on the flip side recently offloaded my off lease company car ,a well worn but still nice 09 G6ET ,..the dealer said $17k to trade it ,I thought it was worth 25k the market said otherwise ,..not a single call ,..the minute I dropped it to $21k ,..the phone goes berserk and it sells the same weekend

1. Muscle cars are a different beast because of supply and demand.
2. You just admitted to dropping the price of your G6E by $4k which supports my argument.

[GASWAGON]

I have just checked carsales and my BF ute is priced quite reasonably ($9,750) compared to others.... just need to wait a bit longer and hope for another looker?

[flappist]

Originally Posted by EF_6

I have just checked carsales and my BF ute is priced quite reasonably ($9,750) compared to others.... just need to wait a bit longer and hope for another looker?

Always remember when you look at carsales that every single car there has one thing in common.....no one has bought it....

[P6LTD351]

Originally Posted by EF_6

I have just checked carsales and my BF ute is priced quite reasonably ($9,750) compared to others.... just need to wait a bit longer and hope for another looker?

As long as the others are priced reasonably. When I was looking for my P6 over a year ago, the ones on carsales that were in good condition were all overpriced by a big margin. Most of those are still on there after all of this time. There is a danger pricing your car compared to others on carsales. They are still on carsales for a reason.

[302 XC]

Originally Posted by P6LTD351

As long as the others are priced reasonably. When I was looking for my P6 over a year ago, the ones on carsales that were in good condition were all overpriced by a big margin. Most of those are still on there after all of this time. There is a danger pricing your car compared to others on carsales. They are still on carsales for a reason.

Many use egay,gumtree, carsales ect to guage a "Whatsawurf" , but a one look here and there doesn't guage a realistic price, but for many they just want a "Whatsawurf" now price, which IF they are all over priced then theres more listed over priced as well
Just like years ago many used unique cars as a guage ,more like unique prices .....,hence those who don't have a clue don't have a clue and get offended when reality bites .....
Theres an add on egay now for a 2006 4x4 dual cab , starting price is 20 large , reserve not met,the writeup goes "I know what its worth ,ive done my homework "
Considering theres many others in the same year with similar Ks, same make .model ect asking high teens and no sale yet, guess the owner fails on their homework ....

[Bobman]

What about using Redbook as a price indication, along with the sites mentioned above to gauge a "Whatsawurf"?

[GASWAGON]

I just did a Redbook check and my ute is smack bang in the middle of the prices....I only bought it 3 months ago for 9,500 and have spent 1200 on it in that time!

[GASWAGON]

I have had to drop my price to 9,250 today.... And I bet they will still want to bargain with me.... After todays interest rate drop things are only going to get worse IMO?

[P6LTD351]

Originally Posted by EF_6

I have had to drop my price to 9,250 today.... And I bet they will still want to bargain with me.... After todays interest rate drop things are only going to get worse IMO?

Unfortunately, that's the way it is at the moment. People will always want to bargain - unless they have that much money that they don't care. Not many of those types are after a Falcon ute.

[05_ENFORCER]

There is a reason why the RBA are dropping the interest rate again .....................NO ONE wants to part with their hard earned dollars due to a number of things.

That is why, as an example, your vehicle you believe to be worth $9500.00 is actually only worth $5000.00 in this screwed up market place.

Have a look at your local dealers yards, FULL of stock aren't they................


.

[Bobman]

A lot of car yards have gone insolvent in the past few years.

Surprised at how many BAs are selling from 1k-3k in various conditions and kilometres.

Then you have people over-paying at auctions, so how does that work?

[P6LTD351]

Originally Posted by 05_ENFORCER

There is a reason why the RBA are dropping the interest rate again .....................NO ONE wants to part with their hard earned dollars due to a number of things.

That is why, as an example, your vehicle you believe to be worth $9500.00 is actually only worth $5000.00 in this screwed up market place.

Have a look at your local dealers yards, FULL of stock aren't they................


.

Yep, and it amazes me that people don't adapt their price to the market.

If you advertise a car and it remains unsold...it is not worth the asking price to the GENERAL market.

That's why there are cars on carsales for ages and ages and they are still unsold but the stubborn seller doesn't want to budge.

The seller has 2 choices:

1. Reduce the price
2. Keep the car

But don't complain that no one is buying your car and that everyone is 'low balling'. If everyone is lowballing, then there may just be a message in that.

[05_ENFORCER]

Originally Posted by Bobman

A lot of car yards have gone insolvent in the past few years.

Surprised at how many BAs are selling from 1k-3k in various conditions and kilometres.

Then you have people over-paying at auctions, so how does that work?

It is stupid people getting a "thrill" and not thinking past the buying "high"

My god I saw some joker buy a 2005 4.8 ST Patrol with 156,000 ks last week at an auction for $34,500.00 what an numpty, you gotta ask yourself why?????


.

[P6LTD351]

Originally Posted by EF_6

I just did a Redbook check and my ute is smack bang in the middle of the prices....I only bought it 3 months ago for 9,500 and have spent 1200 on it in that time!

You bought it yourself for $9500 and expect someone else 3 months later to pay $9500? The prospective owner won't care that you spent $1200. Extras or mods don't mean anything to the general market.

I do see that you have dropped it to $9250. It all depends how quickly you want to sell. You could gradually keep reducing until you get a bite.

[danzvtil]

And the average joe looking to trade their car thru a dealer has to understand that they are a business, and will want to pay you WHOLESALE value. My best approach is to not even discuss trade in value, car dealers are professionals at talking the value down, they do it all day,I get them to appraise it, and nail them on CHANGEOVER price.
My last ute, 2 yr old FG LPG 1 tonner with 105K was offered 10K, after haggling, the on paper value I got was 14K. It swings and roundabouts.

[buggo]

I sold my BA XR6 auto with 160k km and 4 weeks rego last week for $7700.

I had it on carsales for $8k, a few offers for swaps etc but after 6 days I had a genuine interest from a bloke. The next day someone else who was going to come down and look.
After 3 days of chatting with the first bloke about it, he offered to buy it unseen.
I had the deposit in my bank the next day, and he came to collect 2 days after that.

I may have been super lucky or something, but a 9 year old white BA taking less than 2 weeks from ad to collection for near on $8k tells me a few things.

Don't price a BA in the range of an FG like some people did, and ad presentation is key.

I had really good photos, not just 4 ****** pics from a scabby driveway, and had a detailed blurp about every detail I could fit, good and bad.

There was 216 BA XR6s on carsales when I put mine up, you have to make sure yours looks better than the competition, and a sale is guaranteed.

[302 XC]

Originally Posted by 05_ENFORCER

There is a reason why the RBA are dropping the interest rate again .....................NO ONE wants to part with their hard earned dollars due to a number of things.

That is why, as an example, your vehicle you believe to be worth $9500.00 is actually only worth $5000.00 in this screwed up market place.

Have a look at your local dealers yards, FULL of stock aren't they................


.

I watched a show the other nite and they mentioned consumer spending since they last checked has risen "0.0%"
Match that with an election and many park up the cash

[GASWAGON]

Originally Posted by P6LTD351

You bought it yourself for $9500 and expect someone else 3 months later to pay $9500? The prospective owner won't care that you spent $1200. Extras or mods don't mean anything to the general market.

I do see that you have dropped it to $9250. It all depends how quickly you want to sell. You could gradually keep reducing until you get a bite.

Had a text msg this morning asking how low I will go....I said $9000 is lowest plus it will cost ME $500 for RWC..... Hav'nt heard anything back yet....Nuthin!

[P6LTD351]

Originally Posted by EF_6

Had a text msg this morning asking how low I will go....I said $9000 is lowest plus it will cost ME $500 for RWC..... Hav'nt heard anything back yet....Nuthin!

No doubt that it is tough out there.

Hang in there. Are you needing to sell quickly or can you hang on? That will be the determining factor.

[GASWAGON]

Just had another email enquiry for 9250... Gave this same guy my number the other day and he didn't call.... Now he's sent another msg....how dumb are these car buyers?
It does need to sell i'm on Centrelink payments at the moment so things are tight!

[turbodewd]

The state of the 2nd hand market is not Labor's fault, it ultimately is a function of the GFC, i.e American monetary policy and 'wild West' Wall St which has no rules. This stems from a religious belief in "free" markets.

I believe in free markets too but you need rules coz complete freedom from rules is called anarchy!

[GASWAGON]

OMG this guy with the msgs is an Indian I just got onto him but the reception was bad ....I couldn't even understand what he was sayin lol! Tryin to ring him back now..