scooby Posted July 11, 2006 Share Posted July 11, 2006 Due to a bit of banter with meaning i am opening a "HELP RESIDUALS THREAD" We are all guilty of :- Laughing with text at people prices Slagging cars off advertised elsewhere Sending "for sale" threads of an a tangent General Knocking of cars ETC ETC ETC Post your comments/ideas/thoughts here so we can do something about it. WE ARE KILLING OUR BRAND Now you can see why Caterham owners point and laugh, soon we will be in robin hood and locost price brand. LETS HELP OUR CARS NOT HINDER THEM Quote Link to comment Share on other sites More sharing options...
Blatman Posted July 11, 2006 Share Posted July 11, 2006 I think one of the most effective ways to prevent Cars For Sale posts becoming discussions is for the poster to lock the thread once it's posted. The author can re-open and re-close the thread when he/she wants to bump it BTTT, but whilst locked it will prevent any public discussion of the price, unless someone opens a thread in another area... Quote Link to comment Share on other sites More sharing options...
Muttleys V8 Posted July 11, 2006 Share Posted July 11, 2006 Agreed. Scoob mentioned people who are not prepared to put their cars up for sale on the site. I'm one of them!!!!!!!!! There are some great cars on the market. It's a shame you can buy one for the price of a Robin Hood. Steve Quote Link to comment Share on other sites More sharing options...
potster Posted July 11, 2006 Share Posted July 11, 2006 Couldn't agree more with all comments. Maybe we should look at trying to put together a rough price guide in the FAQ? Bit like parkers guide. I know it will need to be a bit more comprehensive with all the variations in model but it might help give sellers a better idea of what their cars are worth. It can't make things any worse on the price front Quote Link to comment Share on other sites More sharing options...
dern Posted July 11, 2006 Share Posted July 11, 2006 Agreed about locking the for sale threads. However, advertise your car for what you think it's worth and see how many calls you get. Regards, Mark Quote Link to comment Share on other sites More sharing options...
Blatman Posted July 11, 2006 Share Posted July 11, 2006 Trouble with a FAQ is potential buyers then see prices set in stone, so to speak. Those of us with above average cars will lose out. Buyers and sellers should be free to buy and sell based on the merits of the vehicle in front of them, nothing else. Buyers and sellers are then free to debate the value of the cars based on what else is around at the time, and not what the owners club based it on last year during a guessing game when prices were low... Quote Link to comment Share on other sites More sharing options...
potster Posted July 11, 2006 Share Posted July 11, 2006 I don't agree with buyers seeing prices set in stone. If for instance (*prices made up*) 2002 1.8 zetec SeiW on twin 40s - Basic spec (factory shocks, standard box, non LSD etc) £9,000. For TBs add £250 ish, LSD add £150 etc etc The sad thing is my car is now worth more broken than sold complete Quote Link to comment Share on other sites More sharing options...
Blatman Posted July 11, 2006 Share Posted July 11, 2006 Same goes for my race car. I'd get more breaking it than complete, despite it being 100% road legal if not exactly 100% road friendly... Quote Link to comment Share on other sites More sharing options...
scooby Posted July 11, 2006 Author Share Posted July 11, 2006 How much is a turn key car from ? Westfield about £18000 SO WHY ARE THEY DROPPING by OVER 1/2 in two years...........OUR FAULT GUYS There is a 2004 built SEW for sale at the moment for £7950 what a bargain but what a ball ache for prices. It should be a £11000-£12000 car all day long. Quote Link to comment Share on other sites More sharing options...
dern Posted July 11, 2006 Share Posted July 11, 2006 The sad thing is my car is now worth more broken than sold complete I think that's true of most cars given the availability of ebay. Quote Link to comment Share on other sites More sharing options...
jeff oakley Posted July 11, 2006 Share Posted July 11, 2006 You are correct scooby, but there are reasons why prices have dropped. when I bought my first one ready built there was not that large a choice, you had Caterham, Westfield and Robin hood all priced in clear bands. Now for a seven type car you have all of the above plus MNR, Leuego, GTS, Stuart Taylor, MK etc. Now a new buyer is confused when looking at the variations, we look and say what is the differance between a Caterham and a Westfield actually worth? The same goes for others between Westfield and the rest especially if it is a stripped out track only car. Choice has grown and yes there are many who will ridicule a Westfield for being more than they would pay for it on this site, and there are many owners who want out who will take a hit as normal cars do loose value so they use the same principle with the Westfield. Also when it comes to selling any car you never get back the price of modifications. Most buyers, unless they are well informed, want a "normal" spec the extras might actually work against the seller. I like the idea of us creating some form of price guide, but it will only be that, a guide, people will still sell too cheap. But it is in our interests to talk the brand up not down, that is what Caterham owners do well, they belive, right or wrong, that everything that goes with the brand is worth the premium they pay and the residuals reflect this. Jeff Quote Link to comment Share on other sites More sharing options...
Boomy Posted July 11, 2006 Share Posted July 11, 2006 I must admit, i have been quite suprised at the current prices.When i got my car i did so because something else i would of probably prefered was easily 4 to 5k more at that time. A year on though and i could of owned many of them. However, i am just as suprised at the prices of many every day second hand vehicles. A nice luxurious low mileage Mercedes coupe or estate for example, ones that no doubt cost well over 20k new, on a W or X plate can be had for 6 to 8k. 01/02 Fords for 4k or less, newer shape A4's for 7k, the list goes on and on. I suppose when westfields etc are treated mostly as impractical weekend summer toys, people assume that they should cost even less?. You don't get a lot in them at the end of the day and there isn't that much to look at to the untrained eye. An £800 exhaust system etc etc may not suddenly attract a new westfield owner. Maybe as the popularity of such cars has grown, it's really only the true petrol heads and people in westfield circles who are prepared to pay top dollar for the cream of the crop. Those selling such vehicles know what has gone into them, demand a good price and have to just get lucky in attracting such a buyer because they will be out of reach for someone purely looking for some mid life fun and games. Other people who may be upgrading are often prepared to sell for a lower value too because their new pride and joy is waiting in the wings and they just want to get hold of it asap. Perhaps it's just down to the way things have played out, looking at the bigger picture i mean. Maybe we are now at a stage where owners who have been into such cars for years and years have either sold up and moved on or have sold on to upgrade to newer technology etc. That has caused the older cars to become less and less valuable. Subsequently new owners are spolit for choice (with regards make and models) and sellers now have to make their cars seem really attractive to stand out, and what better way than by making it a "bargain". I guess the old saying that something is only worth what someone is willing to pay has never been more true. I fear though that it is unlikely people will be willing to pay a few extra thousand now they have seen what the going rates are.To some, an escort/vauxhall/bike engine slapped into a plastic body will always be just that no matter how many bells and whistles you stick on it maybe. At the end of the day, the real losers will be those who purchased new and wish to sell after a relatively short time or those with extensive mods. For the rest of us, it's like the housing market i suppose.Sure your house price may of risen 20k in a year, but so will the house you wish to purchase next. Likewise, if it drops 20k, so will the one you now wish to buy. It just seems to me that a lot of people have jumped apon the kit car bandwaggon with the promise that there is huge fun to be had for very little money. When they see a car that looks very much like another, but one is 6k more, yet they are told on various forums that they will still love it, it pushes prices down all across the board as people try to sell. Quote Link to comment Share on other sites More sharing options...
pistonbroke Posted July 11, 2006 Share Posted July 11, 2006 Market forces dictate the price more than ever , I think the HUGE increases in mortgage prices have brought about a glut of people looking to make cut backs . Unfortunate , something totally uneccasry , like a kit car, must be top of the list for money saving , this coupled with the need to raise cash and fear of further depreciation makes for a buyers paradise . Not just kit cars to , depreciation is huge across the tin top market At the end of the day , a car , westfield or other is just a commodity . Quote Link to comment Share on other sites More sharing options...
steve_m Posted July 11, 2006 Share Posted July 11, 2006 Westfield second hand cars Why do owners undervalue their cars when Westfield don't ? The above link will take you to Westfields pre-owned cars section and you can see a 2003 1800 Zetec is still for sale at £11,250 - they might take £10,000 for it I suppose worst case but that's still a good £3k more than private sellers are achieving. Quote Link to comment Share on other sites More sharing options...
Boomy Posted July 11, 2006 Share Posted July 11, 2006 Why do owners undervalue their cars when Westfield don't ? The above link will take you to Westfields pre-owned cars section and you can see a 2003 1800 Zetec is still for sale at £11,250 - they might take £10,000 for it I suppose worst case but that's still a good £3k more than private sellers are achieving. Isn't that the same for most car dealers though? There is a reason people often buy privately, i always assumed that was the reason. Quote Link to comment Share on other sites More sharing options...
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