# 'Credit Crunch' cars - spotted any?



## kmpowell (May 6, 2002)

9 month old, 10k miles, 57 plate, £60k (list), M3.

Sold at a local BMW dealer for £34.5k! 

Anybody else spotted/heard of any others?


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## sean.ui (Nov 18, 2006)

kmpowell said:


> 9 month old, 10k miles, 57 plate, £60k (list), M3.
> 
> Sold at a local BMW dealer for £34.5k!
> 
> Anybody else spotted/heard of any others?


Car market in general has imploded in Ireland - generally more expensive here than the UK but to give an example - 2007 335i coupe - list 65k - 70k (depending on options), currently on sale at 40k.


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## NickP (May 6, 2002)

Few I saw that stood out -

20 month old Range Rover Sport TDV8 20 months old 33k £27,800 (£60k+ New)
2007 Audi RS4 12k miles £29,200
2007 Gallardo Spyder 2k miles £85,500 (£135k new)


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## Neil (May 7, 2002)

kmpowell said:


> 9 month old, 10k miles, 57 plate, £60k (list), M3.
> 
> Sold at a local BMW dealer for £34.5k!
> 
> Anybody else spotted/heard of any others?


This one? Saw it a few days ago, pretty cheap!

http://search.autotrader.co.uk/es-uk/ww ... gLetter=57


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## Neil (May 7, 2002)

NickP said:


> 2007 Audi RS4 12k miles £29,200


I keep telling myself not to keep looking at these, but... where was it? :roll:


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## Wolfsburger (Oct 21, 2002)

How about this....

http://search.autotrader.co.uk/es-uk/ww ... gLetter=07

Still want that TTS Kev?


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## Wondermikie (Apr 14, 2006)

kmpowell said:


> 9 month old, 10k miles, 57 plate, £60k (list), M3.
> 
> Sold at a local BMW dealer for £34.5k!
> 
> Anybody else spotted/heard of any others?


I think the M3 is currently at a price where it would make sense to consider it, yes they will keep on dropping but not that much, it could be cheap* motoring in a very capable car for a few years.

*Disclaimer - I mean cheap as in cheap for a 420bhp RWD beast, not cheap as in 1.4 Focus.


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## Neil (May 7, 2002)

neil1003 said:


> NickP said:
> 
> 
> > 2007 Audi RS4 12k miles £29,200
> ...


lol, I know the answer now, I've read Evo!


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## Toshiba (Jul 8, 2004)

used R8 - 60k.
New ROC - offered £1900 off the not yet released 1.4 version within 10mins of walking in the showroom.


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## marTTyn (Dec 29, 2008)

I expected something like..... :lol:


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## garyc (May 7, 2002)

5 month old X5sd. Invoice £55K, dealer price £30K
7 month old 750i. Invoice £65K, trade in £22K - punted back out at £3K down £225 pcm for 3 years.

Plenty M3s at £30-34K.

R8 orders being cancelled and prospective owners walking away from their deposits. ditto AMV8s and DB9s. Similar picture at Porsche.

For those in relatively secure employment andwho aren't too worried about residuals in long term, there has seldom been a better time to acquire a late model premium car.


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## clived (May 6, 2002)

Blimey - I like the sound of that 7 - would consider adding it to the fleet just for the sake of it at that price!


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## garyc (May 7, 2002)

clived said:


> Blimey - I like the sound of that 7 - would consider adding it to the fleet just for the sake of it at that price!


Twas 15 cars needed moving under the deal. All gone not surprisingly.


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## tdk (Jul 22, 2003)

clived said:


> Blimey - I like the sound of that 7 - would consider adding it to the fleet just for the sake of it at that price!


There appear to be some absolute bargins to be had with the 7 Series BMW...

One year old 730d Sport with only 465 miles on the clock - £57K+ new, now £25K and I'd bet you could do a deal on that price too... http://www.bmw.co.uk/bmwuk/auc/car_...sit-bmwuk,00.html?currentCh=WBAHM22040DN38884

Simon.


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## tdk (Jul 22, 2003)

Aston Martin V8 Vantage Roadster... 8 months old, 2200 miles, approximately £96K new - sold for £49K at an Aston dealer in the last two weeks!

Simon.


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## sandhua1978 (Sep 11, 2006)

garyc said:


> 5 month old X5sd. Invoice £55K, dealer price £30K


Where if you don't mind me asking?


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## garyc (May 7, 2002)

sandhua1978 said:


> garyc said:
> 
> 
> > 5 month old X5sd. Invoice £55K, dealer price £30K
> ...


Dont know which dealer. These are from source at BMW UK who are reconciling finnace hits against trade in residuals, before deciding disposal strategy. Most tin is going to the auctions with these sorts of reserves, since the dealer network and importers dont actually want cheap late plate tin on forecourt as this will further kill new tin sales.


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## sandhua1978 (Sep 11, 2006)

garyc said:


> sandhua1978 said:
> 
> 
> > garyc said:
> ...


Your source wouldn't happen to know which auction house these cars get sent to by any chance?


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## garyc (May 7, 2002)

...will see if i can find out. I expect it's spread about the usual suspects.


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## slg (May 6, 2005)

garyc said:


> ...will see if i can find out. I expect it's spread about the usual suspects.


BMA have a few BMW sale days coming up over the country, not looked at the others as they never had what I was looking for.


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## BAMTT (Feb 22, 2004)

E60 M5's starting with a 24 handle

http://search.autotrader.co.uk/es-uk/ww ... h_full.y=7


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## Wallsendmag (Feb 12, 2004)

slg said:


> garyc said:
> 
> 
> > ...will see if i can find out. I expect it's spread about the usual suspects.
> ...


What would that be ?


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## Wild Woods (Feb 25, 2008)

I know its fairly old but £4200 is nothing. Mine probably worth 5k now

http://cgi.ebay.co.uk/2001-AUDI-TT-1-8- ... 240%3A1318


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## justtin (May 6, 2002)

Wild Woods said:


> I know its fairly old but £4200 is nothing. Mine probably worth 5k now
> 
> http://cgi.ebay.co.uk/2001-AUDI-TT-1-8- ... 240%3A1318


but at least yours doesn't have chrome alloys.....


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## sandhua1978 (Sep 11, 2006)

garyc said:


> ...will see if i can find out. I expect it's spread about the usual suspects.


Appreciated.

If you could confirm what the usual suspects are, would be good as well.

The only one i've heard of is blackbushe as being a regular spot.


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## sandhua1978 (Sep 11, 2006)

sandhua1978 said:


> garyc said:
> 
> 
> > ...will see if i can find out. I expect it's spread about the usual suspects.
> ...


Any joys on seein which the "usual suspects" were?

Or anybody heard of any other good deals passing through?


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## senwar (Apr 21, 2003)

Interestingly, I've noticed the price of 2nd hand cars go back up.

Was looking at the values of mine earlier this week, and similar models are up for 10-15% higher than they were in December.


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## Leg (Jan 11, 2006)

What you all should have done is ordered a spanking new E92 M3 for £56,000 and taken delivery in March 08. Timing is everything in life after all. This is best done just after you bought a new Mk1 V6TT for £26750, modded it to the tune of £7500 and then sold it for £18500.

When the heart rules the head, it happens. Well it does to me, regularly! :lol: :lol:


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## sandhua1978 (Sep 11, 2006)

senwar said:


> Interestingly, I've noticed the price of 2nd hand cars go back up.
> 
> Was looking at the values of mine earlier this week, and similar models are up for 10-15% higher than they were in December.


Your probably right in that respect.

But dealers knows that 99% of people walking into the showroom in the current climate are going to be asking how much you going to take off the price.

So if they add 10-15% onto the price just makes the discount they offer as part of the sale look more impressive! In the hope of sealing the deal, and in effect actually offer you no discount on what they were hoping to sell the car for anyway! :lol:

Or alternatively hoping to make a bigger slice on each car they sell given they are selling less of them!

Not sure they are going to get away with it!!


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## Kell (May 28, 2002)

sandhua1978 said:


> senwar said:
> 
> 
> > Interestingly, I've noticed the price of 2nd hand cars go back up.
> ...


Sort of true and sort of not.

With less and less new cars ordered, there's less 'nearly new' stock on forecourts. Less cars means prices can and will rise again. There's still bargains to be had but most mags reckon prices will either firm up or go up pretty soon.


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## ag (Sep 12, 2002)

A very non-scientific look round any of the car dealers local to me suggests that they are managing both new and used stocks down and, indeed, such used stock as they have is generally recent, well specified and desirable. Private and to a certain extent company new car sales are dead, the number of "09" plates cars is remarkable by their absence, but the dealers are still shifting them to hire fleets for the usual 6 month Tango. Prices seem to be hardening now for premium and just sub-premium nearly new and look tempting until you see the discounts available on brand new, especially from brokers. Smaller models are definately bucking the trend better than larger.


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## garyc (May 7, 2002)

Kell said:


> sandhua1978 said:
> 
> 
> > senwar said:
> ...


My premium car industry friends seem to think that the residuals for premium cars will follow the property market, not in absolute % terms but in direction. ie wait for property price falls to bottom out - which may not be that far off.

Sort of makes sense, since car is second biggest capital investment for most folk. Also dealers are keeping forecourts as clear as possible and instead using BCA etc to clear late stock - none of them want to appear to have a glut of late stock at low values.

BMW using BCA to flush through used cars that may normally be on forecourts.

http://www.british-car-auctions.co.uk/Default.aspx?page=18


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## Stucoupe (Mar 9, 2009)

sandhua1978 said:


> senwar said:
> 
> 
> > Interestingly, I've noticed the price of 2nd hand cars go back up.
> ...


All cars are cheap - thats the cynic in me. Compare our new car prices to that of europe, we're getting bargains. Its probably a matter of them getting rid of stick - its about turnover. If all these places are making big layoffs, its about cost cutting too and raking in as much money as possible. They're bound to cut production of our right hand drive cars significantly and expect to see brand new prices go up; if euro prices are anything to go by and the strength of the pounds remains unchanged, I'd expect a 30 percent increase in prices. Also expect less new car sales - another reason to bolster up prices. So make the most of it now.

Second hand cars are odd. They've come down; some people are panicing and selling cheap. But anyone notice all the dealers advertising to Buy your car. They probably foresee the New car prices going up next year and hope that 2nd hand car prices go up a little too. .... IMHO

I dont want to step onto the soap box of Credit Crnuch, but anyone here - who hasnt bought a big house on low mortgage rate in last 5 yrs - feeling the credit crunch yet... really? Doubtful. The only other reason I can see people getting rid, is if they take the advice of the likes of moneysavingexpert and sell big assets like a car; but if they're on finance and the car is worth less than the amount due to be paid off, they might choose to keep hold of it for many years to come; those are the people who've spent more than they would normally and might feel a pinch now.


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## clived (May 6, 2002)

Stucoupe said:


> I dont want to step onto the soap box of Credit Crnuch, but anyone here - who hasnt bought a big house on low mortgage rate in last 5 yrs - feeling the credit crunch yet... really? Doubtful


I see where you're coming from here, but I think you're ignoring the macro-economic situation that is not really anything to do with folks over-extending themselves. I imagine plenty of people with reasonable mortgages have been made redundant, fear they may be made redundant or are expecting to earn less in the near future for whatever reason - and therefore big capital expenses have to be reversed or delayed, or montly payments minimised...


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## Kell (May 28, 2002)

clived said:


> Stucoupe said:
> 
> 
> > I dont want to step onto the soap box of Credit Crnuch, but anyone here - who hasnt bought a big house on low mortgage rate in last 5 yrs - feeling the credit crunch yet... really? Doubtful
> ...


Pretty true Clive. Effectively nothing has changed for us in five years. In fact we're paying the least we've ever paid for our mortgage now since we fixed this time last year.

However, I've also not had a pay rise in five years and when I started this job, we weren't paying nursery fees etc. So while we wnet on happlily thinking thing would be alright 'soon' as wages would get better, or that we were making money on our house, all of a sudden things are a lot different, despite nothing really changing. If that makes sense.


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## Stucoupe (Mar 9, 2009)

clived said:


> Stucoupe said:
> 
> 
> > I dont want to step onto the soap box of Credit Crnuch, but anyone here - who hasnt bought a big house on low mortgage rate in last 5 yrs - feeling the credit crunch yet... really? Doubtful
> ...


I'll not go into this, as economics is a part of my job and thus boring. I hear what you're saying (going back to car prices and how sell-sell-sell is affecting them), and the redundancies are harsh and will take some radical actions to solve, but worries about the furture are plain crazy. I'll sell my car when Im redundant, not before.
I've never worried; what happens will happen; if I want a better life, I had better sort it out my self, I know the government wont, even if it means emigration. 
However, I fully respect that everyone has different views of how to deal with the future; so yes, I guess your point could explain the market conditions for cars.
(utmost respect to those in redundancy proceedings, I went through it last year)


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