How much cheaper can cars get ?

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Mon 4 Nov 2002 22:11
How much cheaper can cars get ? - Steve G
Over the last few weeks at auction it struck me just how cheap good cars are these days (e.g 18 months old, low mileage Vectra's £6000-6500). With the never ending reductions on new car prices (check out HJ's news section) and low interest rates it would seem the knock on effect will be even cheaper used cars.
The way things are going any car over 8 years old will be scrap value.
Question for HJ :
In your years of going to auctions do you think cars have ever been this cheap before ?
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Mon 4 Nov 2002 23:27
How much cheaper can cars get ? - Honestjohn
Sierra/Mondeo/Cavalier/Vectra 1.8LX/LS were £7,000 - £7,500 at 9 - 10 months old and 9 - 10k miles in a cheap year; £9,000 - £9,500 in a dear year. So right now, not accounting for any fall in the value of Sterling, we're about mid-way. I'm going to a Ford Rental sale tomorrow. But volumes are lower these days (200 v/s 500) and Ford is able to control prices much better. I think the market is actually healthier than it's ever been because buyers are now more confident that they are paying fair prices for new cars, and there is far elss difference between private discounts and fleet discounts. Also, fewer companies and private buyers are buying the £15k rep's specialis which were always the heaviest depreciators. If they do buy the reps specials, they pay £11k - £12k. Or they buy somethign with a bit of status. Either way they take a far smaller hit in depreciation.

HJ

HJ
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Tue 5 Nov 2002 22:29
How much cheaper can cars get ? - Steve G
Thanks for the info HJ.
Just read your Ford ex-rental report and i have to agree with your comments on what a good car the Focus is and what excellent value at the moment.
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Mon 4 Nov 2002 23:36
How much cheaper can cars get ? - gibbo
some good points there i was at bca birmingham today some of the prices astounded me in 2 ways, some of the big ex fleets eg 98 on an s peugeot 406 with aircon electrics etc and 80k on the clock was sub 3k ( to me very cheap) but a volkswagen finance polo 14L basic spec about the same age, granted it had lowish milage 26k but 700 quid more to me crazy, but to the joe public buying all the volkswagens golfs polos etc its still a little bit cheaper than you would pay a a volkswagen main dealer.
i was after one of these coveted polos today but to be honest with the small cars fiestas polos etc i think you can save a bit ,but with your 406,s mondeos and vectras ex fleet your more than likely to be saving a small fortune ,i would have like one myself i just couldt afford the insurance..different issue there ..licensed theives..
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