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

sundin13
sundin13 Posts: 481 Forumite
in Motoring
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

Comments

  • tomstickland
    tomstickland Posts: 19,538 Forumite
    10,000 Posts Combo Breaker
    I doubt it. They're stockpiling cars and I reckon that they'll be an excess of supply.
    Happy chappy
  • lincroft1710
    lincroft1710 Posts: 19,543 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    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.
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • Conor_3
    Conor_3 Posts: 6,944 Forumite
    Used prices are in freefall.

    Strangely though, classic car prices seem to be rising still.
  • Hintza
    Hintza Posts: 19,420 Forumite
    10,000 Posts Combo Breaker
    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
    vansboy Posts: 6,483 Forumite
    Part of the Furniture 1,000 Posts
    Conor wrote: »
    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
    sheslookinhot Posts: 2,465 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Conor wrote: »
    Used prices are in freefall.


    You wouldn't think so, given the silly money people seem to think their cars are worth.
    Mortgage free
    Vocational freedom has arrived
  • ianian99
    ianian99 Posts: 3,095 Forumite
    1,000 Posts Combo Breaker
    unless its a car with little engine and low emmissions , they seem to be going up in price
  • DealDrivers_company_representative
    DealDrivers_company_representative Posts: 339 Forumite
    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.
    “Official Company Representative
    I am the official company representative of DealDrivers. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"
  • markelock
    markelock Posts: 1,735 Forumite
    Part of the Furniture Combo Breaker
    £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!
    Remember the time he ate my goldfish? And you lied and said I never had goldfish. Then why did I have the bowl Bart? Why did I have the bowl?
  • david69_2
    david69_2 Posts: 580 Forumite
    I think buying a big car is a good move not everyone wants to drive a diesel shoebox
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