What'll the 'crunch' do to used car prices?

[sundin13]

Just thought I'd pose a question for debate....if the car manufacturers are reducing their production at the moment (Honda 10% I read today), then in twelve months time when I'm ready to buy a nearly new car, will I end up paying a higher price, because supply is low?

I'm asking because we've seen a pretty good deal on a car we'd be interested in buying, but we've sort of decided to wring another 12 months out of our current old banger. I'm just hoping its not a mistake.

Interested to hear your opinions.

S13

[tomstickland]

I doubt it. They're stockpiling cars and I reckon that they'll be an excess of supply.

[lincroft1710]

Did you not see Top Gear tonight, top of range Astons and Mercs losing absolute shed loads of cash, one car was depreciating at rate of £85 per mile over 10K miles.

[Conor]

Used prices are in freefall.

Strangely though, classic car prices seem to be rising still.

[Hintza]

I think your duty is an upstanding citizen is to keep the economy going and buy now.

On a more serious note..........that old Satus Quo songs springs to mind Down Down!!!

[vansboy]

Used prices are in freefall.

Strangely though, classic car prices seem to be rising still.

That's what happened 'last time' things got tough.

People with big ammounts of £$£$ still need to 'invest' it somewhere.
It'll be antiques & similar areas that will also see a bit of an increase in demand.

VB

[sheslookinhot]

Used prices are in freefall.


You wouldn't think so, given the silly money people seem to think their cars are worth.

[ianian99]

unless its a car with little engine and low emmissions , they seem to be going up in price

[DealDrivers company representative]

You need to buy cleverly based on Co2 emissions. The reason a huge no' of cars are not selling is because of the RFL changes from April 09. i.e. what the road tax will be for a car from that date.

People have checked what the C02 g/km figure is on older used cars and have decided to go for something cheaper to tax from next year instead. There are now literally hundreds of cars becoming available from manuf'rs with £120 or £35 or even £0 road tax emission levels as they have been set targets to produce models to meet that requirement...but not that many cars over 2-3yrs old fit into the categories.

If you use the simple emissions table on our web page dedicated to this subject...you can guage what's going to be a better buy for you in terms of what it will cost to tax after April:

http://www.dealdrivers.co.uk/html/road_tax_rates.html

The tables there also show what will happen to the same cars in April 2010 based on current government plans.

[markelock]

£17k for a CL600 and £750 insurance, petrol at 94.9p a litre.

i'd be tempted to go large if I had any money!

[david69]

I think buying a big car is a good move not everyone wants to drive a diesel shoebox