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Mar 13, 2008 22:23:59 GMT
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Yeah, but we are talking about the difference of a couple of hundred quid most likely. People won't be buying an 8 year old car with the intention of keeping it for years and years, so the lower duty will be a temporary advantage for each buyer.
You get the same with '71 and '72 cars too. A small difference in price according to the taxation band, and a HUGE difference according to the condition.
An 8 year old car is often just one major mechanical failure away from the scrapyard. Something like needing a clutch replacement can make the car worth only marginally more than its scrap value. Something that carries a higher risk of needing big spending like an ECU problem, is going to render it scrap.
Compared to the risk of spending half the cars value on getting it through the next MOT, the road tax isn't a big deal, as long as the car is still worth more than its scrap value.
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bstardchild
Club Retro Rides Member
Posts: 14,901
Club RR Member Number: 71
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2nd hand car price crashbstardchild
@bstardchild
Club Retro Rides Member 71
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Mar 13, 2008 22:29:05 GMT
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Yeah, but we are talking about the difference of a couple of hundred quid most likely. People won't be buying an 8 year old car with the intention of keeping it for years and years, so the lower duty will be a temporary advantage for each buyer. I guess that makes me different cos that's exactly what I do - between 6 & 10 years is the norm for the primary daily driver. In fact I think it won't get sold just parted out at the end of it's usefull life
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Mar 13, 2008 23:26:27 GMT
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Yeah, but we are talking about the difference of a couple of hundred quid most likely. People won't be buying an 8 year old car with the intention of keeping it for years and years, so the lower duty will be a temporary advantage for each buyer. You get the same with '71 and '72 cars too. A small difference in price according to the taxation band, and a HUGE difference according to the condition. An 8 year old car is often just one major mechanical failure away from the scrapyard. Something like needing a clutch replacement can make the car worth only marginally more than its scrap value. Something that carries a higher risk of needing big spending like an ECU problem, is going to render it scrap. Compared to the risk of spending half the cars value on getting it through the next MOT, the road tax isn't a big deal, as long as the car is still worth more than its scrap value. Which is why this S reg mondeo is now dead. It needed brake pipes and a tyre for MoT, but the clutch was on its last legs, the body scruffy and the owner skint, so he gave me the car. I made around £250 in "recycling fees" and kept the 2.0 zetec for something more worthy.
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To get a standard A40 this low, you'd have to dig a hole to put it in
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Mar 13, 2008 23:30:14 GMT
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I've a different view, I'm in the trade selling mainly at the 2-3k level cars, older than the eco warrior VED bands etc. The market is currently very bouyant for this age group, most people can get together the cash one way or another for this size of purchase.
They all want reliable, cheap to maintain, clean & tidy older cars with maybe airbags. If its a Tdi or similar its snapped up instantly. The value of pre 2000 Tdi's for example I reckon are on the increase even over the past month. It makes so much more financial sense than a new car that'll lose that much value in depreciation in one year.
I see a big increase in previously unfashionable DIY maintenance, when a service at a dealers costs £300 for £50 worth of materials tops & an afternoons work.
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Resident Toyota Geek Current Fleet: HDJ81 Landcruiser, GZ20 Soarer, JZX81 Cresta
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the key is separation. engine and box are foundry alloy (irony ally) £350/tonne and rising Alloy wheels are £1000/tonne and if the tyres are good the local recon tyre place gives £15 each for 15" tyres. Catalyst is £50 on its own, and the rest is frag feed at £135 per tonne. Its a fiver in diesel to drive to blaydon tho. Ah, I see. Last time I weighed in some scrap alloy wheels I got £1 each or something. I'm from the old skool of "load it on the trailer- straight over the bridge" rather than spending time removing the engine. Ill stretch to a cat as they seem to be worth so much. Looks like ill be doing the same as you in future! *looks for oxy aceteline cutting gear on ebay*
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1987 Maestro 1.6 HL perkins diesel conversion 1986 Audi 100 Avant 1800cc on LPG 1979 Allegro Series 2 special 4 door 1500cc with vynil roof. IN BITS. HERITAGE ISSUES.
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this "crash" is only 5% roughly according to "experts" mind you if smoethings gettin cheaper you wont find me complaining. and I whole heartedly agree with the earlier comment of if you cant afford it, don't buy it.
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bigrod
Posted a lot
Posts: 1,654
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Well, I'm gutted!
Due to my T's & C's at work I must drive a car less than 5 years old. I also wanted something with a bit of oomph about it, so resultantly I drive a 3.2 litre '03 plate modern on a daily basis.
I'm tentatively thinking on changing jobs in the not too distant future so won't have the 5 y/o rule governing me so would want to get something older and beefier to smoke about in to free up some of the cahs tied up in it, say something like a mid 90's LS400 or the like.
Resultantly, due to the hike in raod tax fo rbigger engined cars registered after 01, I can see my '03 plate car nosediving in value overnight possibly to the point where it'll be unsellable!!
Thanks Darling you f***ing t**t!!!!
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If I have to explain, you won't understand. Maximum signature image height = 80 pixels
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I read the 'news' as the price of regular, everyday, non-banger cars is going to fall.... i see that as bad news for us retro riders! Can't afford that 55-plate Mondeo? Wait a second.... there's a Sierra over there for £500, that'll do... and soon word will get round that when it breaks in a minor fashion, you can just weigh it in I can see the price of retro fodder rising soon....
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Never trust a man Who names himself Trevor. Or one day you might find He's not a real drug dealer.
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2nd hand car price crashBenzBoy
@benzboy
Club Retro Rides Member 7
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Mar 14, 2008 10:10:10 GMT
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I think were talking about different markets here though - someone who has been priced out of buying a new or new-ish car because they can't get credit will just set their sights a bit lower and get a 5-year-old car instead. I don't think those kind of punters will ever consider rolling their sleeves up and getting the spanners out on a '90s car. People who buy sub-£2k cars aren't really going to be directly affected. As cptsideways said, people can find ways of raising that kind of capital without going cap in hand to the credit companies for a 33.3% APR raping. I also think that the status thing will still come into play - people have been using new cars bought on credit as a symbol of their wealth (even though in actual fact they're a symbol of the amount of debt they're in), so Mr and Mrs Jones, whilst not able to afford a new Meriva with 37 cup holders and a baby wipe dispenser, wouldn't consider buying a Mk3 Cav instead - they'd go for an 02 Vectra or something. Still perceived as being a "new" car, without the shame of buying something that they can actually afford. The sort of cars that we Retro-Riders buy aren't seen as viable dailies for most regular car buyers, so I just don't see the prices being affected that much. Our main concern, as mentioned earlier, is the rising price of scrap.
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Mar 14, 2008 10:25:04 GMT
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Well, I'm gutted! Due to my T's & C's at work I must drive a car less than 5 years old. I also wanted something with a bit of oomph about it, so resultantly I drive a 3.2 litre '03 plate modern on a daily basis. I'm tentatively thinking on changing jobs in the not too distant future so won't have the 5 y/o rule governing me so would want to get something older and beefier to smoke about in to free up some of the cahs tied up in it, say something like a mid 90's LS400 or the like. Resultantly, due to the hike in raod tax fo rbigger engined cars registered after 01, I can see my '03 plate car nosediving in value overnight possibly to the point where it'll be unsellable!! Thanks Darling you f***ing t**t!!!! I'd be asking about a company car if they are that bothered! I know the taxes get ugly too but someone elses car to smoke in 'numpt-head rich commuting' times , saveing the love for the 'spare time' car!
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it doesn't matter if it's a Morris Marina or a Toyota Celica - it's what you do with it that counts
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bigrod
Posted a lot
Posts: 1,654
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Mar 14, 2008 10:31:45 GMT
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I'd be asking about a company car if they are that bothered! I know the taxes get ugly too but someone elses car to smoke in 'numpt-head rich commuting' times , saveing the love for the 'spare time' car! Oh that is an option, but a) it would cost me around £400-£500 per month for something half decent, b) I'd be stuck with it for four years, c) It would cost me a fortune if I decided to leave the company and d) there's nothing I really fancy on the car list!! The upside is that all the running costs are covered, but it's still a lot of money to lose every month. I could run two cars on that!!
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If I have to explain, you won't understand. Maximum signature image height = 80 pixels
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Mar 14, 2008 11:29:43 GMT
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For me company cars are a no-brainer, we have a decent choice and fully covered including fuel. I'm running a Cupra R, 225bhp for about £300 a month all in. Ok it's a fair whack of money but I know people paying that just on HP on their cars, and thats for one of those "give it back in 3 years and owe nothing or find another 7k to keep it", so at the end of 3 years they'll still have c0ck all to show but will also be worse off with fuel, tyres, maintenance, insurance, tax etc.
That said next car will be a Prius so I can pay naff all tax since impending baby and loss of an income means every penny counts. I'm struggling to convince the wife that when she sells the 307CC it would make sense to buy a 4-5k Passat for sprog moving rather than a 10k A4 since it's only going to get covered in vomit anyway and 5k is a nice nest egg on single income.
Last company I worked for relaxed the co.car opt out so anything that didn't "detract from business image" was allowed. Those that effectively did zero company miles bought an Aston, a BMW 2002, loads of cool stuff! I was doing mega miles and had no NCB and accident history so smoked around in a Lupo TDI, 55mpg, made a packet on the mileage rate but sweated to death with no AC!
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bigrod
Posted a lot
Posts: 1,654
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Mar 14, 2008 12:33:54 GMT
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Last company I worked for relaxed the co.car opt out so anything that didn't "detract from business image" was allowed. Those that effectively did zero company miles bought an Aston, a BMW 2002, loads of cool stuff! Y'see that would really work for me!! I despise taking the hit on the depreciation on the sub 5y/o car when I could buy two cars and suffer next to no depreciation!!
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If I have to explain, you won't understand. Maximum signature image height = 80 pixels
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