re HJ's news item 11 July 08 -
www.honestjohn.co.uk/news/item.htm?id=4975
The "sold" prices for some circa 2 litres models seem particularly low, eg.:
BMW 318i 2.0ES Touring, 2005/54, 45k miles £6,800s
Ford Mondeo 2.0 Ghia, 2005/54, 72k miles £3,800s
Honda Accord 2.2i CDTI Sport Tourer, 05 reg, 49k miles £6,200s
Mercedes C220 CSI A/G auto, 2005/55, 42k miles £9,900s
Vauxhall Vectra 2.2i Desire. 05 reg, 64k miles £2,200s
Vauxhall Vectra 1.9CDTI 120 Club, 2005/55. 33k miles £5,825s
VW Passat 1.9TDI PD 100 est, 05 reg, 31k miles £5,900s
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Yes, to quote HJ "It?s so bad that if this were to continue, no one will be able to afford to buy, or make, any cars at all."
Looks like it might indeed continue; "Rising tide of bad debts will flood over banks" www.telegraph.co.uk/money/main.jhtml?xml=/money/20...l
Now I see the banks are going back to the government (i.e. taxpayer) for additional 'support'. Talk about greed and mismanagement! Apparently since 2000 about £300 billion housing equity has been withdrawn in the UK. That's bought an awful lot of X5's, Q7's and Range Rover Sports. I think we may start to see 'distress' sales on a large scale (from individuals and dealers) as the downturn gathers pace. I imagine that anyone with a reasonable income, secure job and modest mortgage is going to be able to get a stonking deal over the next year or two.
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qxman is right. As soon as I gather about 4 to 5 thousand spare I am definitely spending it at the auctions on something that is "unattractive", like big petrol engine, high tax, not glamorous... er yeah, just got to get 4 or 5 grand spare innit....
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qxman is right. As soon as I gather about 4 to 5 thousand spare I am definitely spending it at the auctions on something that is "unattractive" like big petrol engine high tax not glamorous... er yeah just got to get 4 or 5 grand spare innit....
Sounds like a plan. Subaru Tribeca fits the bill. Mind you, once its bought, you may not be able to afford to drive it anywhere.....LOL!
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If you've got to save 4 ot 5 grand before you can buy then you're certainly not in a position to be able to afford to own & run such a machine.
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I'm taking the current situation as a positive. I normally get the itch to change about every 18 months. I've decided to keep me current car for quite a while (407 2.2 coupe).
1. Because it's probably losing value at a rapid rate and I'd get a laughable p/x offer
2. The car's been faultless and after spending a week driving focus/astra diesel hire cars, it an extremely refined motor.
(Disclaimer: Never say never :) )
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Both our cars are 13 years old. We were planning to replace one of them around now but I think it's best to wait as prices are likely to fall. Our old cars are worth next to nothing anyway so they're on bonus time.
Edited by Sofa Spud on 13/07/2008 at 01:05
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Interestingly enough, they still all sold... or did HJ drop those with provisional or not sold bids from the list?
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read the auction report, smokescreen.
If the car was sold there is an 's' after the price.
If the top bid was provisional there is a 'p' after the price.
What I can't always tell is whether the auctioneer was truthfully knocking the cars down, but he appeared to be on Friday.
HJ
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Audi A6 3.0 V6 TDI quat Avant auto, sat, 05 reg, 35k miles £16,000s
Yes, and in 4 or 5 years time it'll probably be worth under £1,000. So does that make it good value?
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"What I can't always tell is whether the auctioneer was truthfully knocking the cars down, but he appeared to be on Friday."
By this, does HJ mean that the auctioneer can knock them down as 'sold' when they weren't, just to make it look like there were more sales than actually took place? Is that legal?
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Auctioneers are allowed to do what they want, though they;re not supposed to take bids off the wall once its gone over the reserve.
I've never known an auctioneer to drop the hammer when the car hasn't actually been sold.
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Oh I noticed that bit... but they were all s! Suprised me thats all.
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"I've never known an auctioneer to drop the hammer when the car hasn't actually been sold."
Was stood near the rostrum once and the hammer came down. Then a trader approached the auctioneer with a lower bid and this was submitted!
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