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Has anyone noticed if the used car market has been slowing down in the last month. I`m trying to sell my MPV (a relatively popular model) at around £5k. Advertised it couple of weeks ago and quite a few phone calls but no viewings. Then recently reduced asking price by £500 and not a single bite
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The new car market certainly has. Many thousands of cars have had to be registered to \'fleets\' to make the months figures. These cars are now coming through at big discounts.
Lack of sales of new cars has led to a shortage of used cars so prices are tugged up by lack of supply rather than runaway demand. If you want to sell, use the link to autotrader, check what everyone else is advertising the same thing for, then undercut them. If your price is higher than theirs that\'s why you\'re not getting any bids.
HJ
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Car was already on autotrader and now compares favourably with similar. not the cheapest but nowhere near the most expensive. Being a four year old car there is often quite a variation on mileage/history/condition/spec etc
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Slowing? It's gloriously dead. (Glorious, that is, if you don't mind driving a second hand car, and are delighted to be driving a ten year old luxobarge with 100k that costs less than your monthly drinks bill...)
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a ten year old luxobarge with 100k that costs less than your monthly drinks bill...
either the barge was very very cheap, or someone does an awful lot of drinking ...
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I wrote "undercut them". If you don't, then what are you offering that the others aren't? Ther answer is nothing, and that's why your car is not selling.
HJ
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HJ, I think that the success in selling also depends a lot on where you live. I have found it very hard to sell cars in Cornwall, yet in Leicester I never had a problem and was very pleased with the autotrader effect. Indeed one car I sold was a higher price than later, lower mileage and higher specced examples of the same car. I achieved within £50 of my asking of £795 for a 106K three door Renault 11 on a B, when 5 door Cs with 70 to 80K were priced at around £695. I think the city centre location helped a lot here. Many buyers could look locally at a number of cars.
It depends a lot on what type of car you're offering to the local population, so simply undercutting someone who is better located to his or her market won't work.
The only real success I have had was the old Renault Trafic through E bay a couple of weeks ago.
Alternitively, for £6 plus the reserve listing fee (depends how you structure the price) Bobl can advertise nationally. c£5k is the sort of money a lot of people will travel for if they want the car. In addition if he can be seen to be honest on the description, that will go far.
Hugo
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Thanks HJ for the frank suggestion as to why cars not selling. Although had about a dozen phone calls at higher price and not a single one when car reduced by £500. I think Hugo`s comments about location are valid. I put car up on ebay a couple of weeks ago with a sub 4k start price without much success. Good accurate description with pictures and I have 50 positive feedback but all i got were people ringing to say if i would accept less than the start price! Incidentally identical car, more miles and not as good condition on sale at local Renault dealer forecourt at £6.5k 3 month warranty - mind you thats been there a month now
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E-bay cars are going for peanuts at the minute. Bear in mind when I first discovered the site about 3 years ago there would only be 500 cars of all types for sale, whereas at the moment there is 13000, and this figure was 20000 last week thanks to sellers taking advantage of a free listing day.
To get a sale on e-bay you must make your advert stand out from the crowd, plus consider setting your start price at whatever part-ex you would have been offered from a dealer so anything you get over that would be a bonus.
I tracked an identical car to mine recently which had a parkers trade value of around £1500. Seller started at £1000 and pulled his listing after six days without a single bid. Car looked genuine and in good condition.
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The part exchange was around the £4700 at various dealers
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One thing that I find about eBay which isn't so good for buying cars is the lack of ability to search within a region. I'm on the look out for cheapo first car for 'er indoors, and have seen quite a few; but they've all been up the other end of the country. I'm not going to travel half-way round the world for a car worth a couple of hundred quid.
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Two of my mates had good cars to sell this year,one a scooby Forester with all the bells and whistles,honestly advertised and reallistically priced,the other a Ford Explorer,same story,very little response. one was on Auto Trader the other E&M.Both remain unsold
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if you click on search by region on the homepage first the do your search you should get local results ,Hugo would be right in saying it depends what you are selling where as I often buy sell from the midlands,bigger market/customer base, also certain areas are a big no go as regarding exposure to salt both coastal and spread on the road .For many its far too easy to sign on the dotted line ,lots of cars are advertised as so much per month and not how much it will actualy cost when paid in full.
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Reduced another £400, now cheapest on autotrader for year & spec. Live next to junc 16, M4 so easy to get to. See what happens.
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