Kiwis paying more for used cars in 2012

[HELLBM 1557]

Supports the better prices I been getting at Turners this year. Where is this heading to as our aged fleet dries up?

Kiwis paying more for used cars in 2012

[charles28 136]

I guess eventually everyone will be driving Suzuki Swifts, Daihatsu Sirions, Toyota Yaris and other such junk.

Or worse, cars from China, like Greatwall, Geely, etc.

Eventually the price of used cars may force many people into those options.

I see on the Toyota Website there's now 3 models of the Prius.. heh

The modern used car I hate seeing the most is the PT Cruiser + all the Hybrids

Edited September 5, 2012 by Charles32

[HELLBM 1557]

Thoughts on this trend people. will it take of like house prices as our stock dries up?

[HELLBM 1557]

I guess eventually everyone will be driving Suzuki Swifts, Daihatsu Sirions, Toyota Yaris and other such junk.

Or worse, cars from China, like Greatwall, Geely, etc

Greatwall with `triangle` tyres a sick joke played on the west.

[charles28 136]

Well, if its anything like the Housing Shortage in Christchurch, Supply vs Demand will rein supreme.

House prices here have gone up a lot more then 15% in many areas due to the Earthquakes.

I am building a new House in Rangiora (35kms to work each way) however it was 100k cheaper then building within CHCH for the same size section and house.

Also I'll keep using the E30 for work, despite the fact this could get me to work and back for 1/2 the price.

http://www.trademe.co.nz/motors/used-cars/...n-510757945.htm

[dubman 39]

the new Cherry's, BYD's and Greatwalls are pretty much nicely optioned mid 1990's corolla's, sunny's, civics etc... so not THAT bad for a budget car at that price range. However, i'll choose a Swift over those cars anyday.

When i went car shopping for my dad, it was pretty hard, definitely overpriced vehicles and some were snatched up pretty quickly. Ended up settling for a well maintained but rough looking Corolla at a decent price.

Don't know if it'll take off like house prices Ray, because aren't they still importing a bunch of post 2000's Jappa imports?

edit: i assume we're talking about the 1.3l to 2.1l range that was mentioned in the article, with a price tag around 7k

Edited September 5, 2012 by dubman

[NZ BMW 368]

Thoughts on this trend people. will it take of like house prices as our stock dries up?

I actually think the long term price of cars has more to do with access to credit in the countries we import from. Less new cars bought in Japan and Singapore means less supply. The other factor is that dealers have to accept lower margins because people can't afford higher prices.

Probably see less people wanting to purchase cars full stop. I take public transport to work, despite having parking. I actually don't need a car in Auckland. I live close to everything I need and only use the car for going away in the weekends. Lots of us who live in or around the CBD are living the same way.

Doubt you will see much happen outside of this one spike. My 2c anyway.

[bellicose 9]

I'd take that article for what it is, Turners propaganda.

A study by Turners for Turners about Turners.

"Latest figures from Turners show Kiwis paying up to 15% more for used vehicles"

Now, wouldn't it be nice for them to do a "media release" with Turners "fee" increases over the same period.

Wouldn't be surprised if Kiwis are paying 15% more because Turners, over the last 12-18 months have increased fees by 15%.

[M5V8 337]

The modern used car I hate seeing the most is the PT Cruiser + all the Hybrids

don't worry with a 3 star safety rating, the PT Cruiser fleet will soon be non-existent. (along with their owners) Edited September 5, 2012 by M5V8

[Apex 693]

Would be interesting to see the jump over say 5 years.

I remember buying a few cars from Turners between 2007-2010 for very reasonable prices vs what you can buy today.

The used car prices have jumped up so much that last year when looking we gave up and decided to buy a new car instead as we could not see the value in second hand cars when people were asking massive amounts for vehicles that are essentially past their used by date, $50,000 for a used BMW say with 120,000km on the clock that has the same features as a brand new Commodore for the same money.

Not really relevant but I set myself a goal to buy a car for under $1,000 to use as a shopping trolley town car a few months back and was shocked at how hard it was to find something half decent, a few years ago it would have been easy

[kiwi535 538]

Would be interesting to see the jump over say 5 years.

I remember buying a few cars from Turners between 2007-2010 for very reasonable prices vs what you can buy today.

The used car prices have jumped up so much that last year when looking we gave up and decided to buy a new car instead as we could not see the value in second hand cars when people were asking massive amounts for vehicles that are essentially past their used by date, $50,000 for a used BMW say with 120,000km on the clock that has the same features as a brand new Commodore for the same money.

Not really relevant but I set myself a goal to buy a car for under $1,000 to use as a shopping trolley town car a few months back and was shocked at how hard it was to find something half decent, a few years ago it would have been easy

yes years ago went to turners with exactly the same goal to get a cheap car to go to and from work mostly.There were a bunch of big ol toyota crowns,big square boxy things,the first one went for 200 the next for 100 the rest they couldnt give away...

[byza213 1]

Not really relevant but I set myself a goal to buy a car for under $1,000 to use as a shopping trolley town car a few months back and was shocked at how hard it was to find something half decent, a few years ago it would have been easy

this , i always been one to have a cheapie for a run around , used to be way easier even two years back finding one in decent condition

i always look around even when im not buying on trademe etc (weirdo)

but was looking recently and was shocked at the prices of some average / junk thats out there..like some e30s and e36s

Edited September 5, 2012 by e34play

[_ethrty-Andy_ 2132]

different brands have reacted differently i think. BMWs have certainly gone up, while Mercs from the 90s have gone way below what they used to be. Hard to find cars worth buying to fixup and sell these days, so ive pretty much stopped this past year.

[bellicose 9]

Just a quick question.

Why do/would people go to Turners for a car in this day & age?

They're theives and because they "auction" their cars Joe Public has NO recourse.

[antil33t 90]

I'm never selling my touring so I'm immune. I'll just keep fixing it up when it breaks.

I also don't do much town driving... so 12L/100km is not really a worry to me. I could buy a 5k Corolla and have no soul and 7L/100km.

My guess is people will keep cars for longer... or we'll end up with horrible cars.

Though Maybe just the price of used Corolla's has gone up, seeing as that's New Zealand's best car.

Family friend of ours just bought an 06 XR6 Ford with 70k on the clock for 14k

A similar aged Corolla is similar money....

Edited September 5, 2012 by antil33t

[Apex 693]

I would struggle to find any more soul in a big old German boat than I would a Toyota Corolla, in fact a manual Toyota Corolla has plenty of character and is fun around town.. but each unto heir own i guess.

Corolla's are massively over priced though, people asking crazy money for them even with colossal millage. I think Land Cruisers have to be the one that blows me away the most though, people paying 40k for 10 year old Land Cruisers with 200,000km on them, its ridiculous.

[jeffbebe 1559]

I got my E39 528i for a steal. It's got 164,000kms on the clock but it's in good shape and if I keep it in good nick it'll do 3 times that. I'm also gradually restoring anything that's buggered back to new or as close to new as possible... It'll be a classic car in a few years and hopefully by then I'll have a mint example of one... And perhaps some fool will pay $$$$$s for it. Haha

Edited September 6, 2012 by jeffbebe

[charles28 136]

I got my E39 528i for a steal. It's got 164,000kms on the clock but it's in good shape and if I keep it in good nick it'll do 3 times that. I'm also gradually restoring anything that's buggered back to new or as close to new as possible... It'll be a classic car in a few years and hopefully by then I'll have a mint example of one... And perhaps some fool will pay $$$$$s for it. Haha

Yeah i managed to make $1500 on my E39 without trying, funny thing is the new owners been trying to sell it for months, I sold it within 2 days.

I only paid 4k for it and it had 98,000k, however the car had some history regarding accident damage, that is I could see sanding marks in the paint on some bits and the paint job seemed a bit average, other wise i'd have kept it and still be driving it now.

[westy 614]

Thoughts on this trend people. will it take of like house prices as our stock dries up?

Here's my thoughts, it's a combo deal.

More restrictive import criteria.

More competition from other countries for stock.

More awareness of 'Turners'.

More people buying second hand rather than new. Be-it more averse to finance, higher cost of living or other associated issues of a stagnant economy etc etc and so on and so forth.

I'd be interested to know how much all second hand goods have increased in price since Trade Me was born too. The Trade and Exchange used to be chock full of bargains, where Trade Me seems full over pricing dreamers and fools willing to pay.

[jeffbebe 1559]

If I can keep my E39 in good shape for another 34+ years I'll almost get back what someone paid for it in 1996 and I may only have spent $50-60K keeping it mint. What an incredible investment.

[E30 325i Rag-Top 2956]

Don't forget that due to inflation the relative value of money is dropping, what you need $10 to buy today was probably only $5 ten years ago (roughly, not an exact figure, but you get my drift). So in effect your $10 is worth half of what it was.

[Apex 693]

If I can keep my E39 in good shape for another 34+ years I'll almost get back what someone paid for it in 1996 and I may only have spent $50-60K keeping it mint. What an incredible investment.

Lol, incredible indeed. My old man brought a E39 528i SE brand new in 96 for $128,000 and sold it for $4,000 to a wrecker a few years ago. Would love to see a working 50 year old E39, would probably fetch that money as it would be one of a few still going. They dont build em like they used too.

[westy 614]

Don't forget that due to inflation the relative value of money is dropping, what you need $10 to buy today was probably only $5 ten years ago (roughly, not an exact figure, but you get my drift). So in effect your $10 is worth half of what it was.

Doesn't seem to apply to new car pricing though.

10 years ago the 540it sold for about $160000. A new 550 sedan (tourings only come in 530ds @ about $147000) is $167000 odd. A relative bargain ha.

[camera doctor 25]

We are getting ripped on new cars too.

Just got back from USA, the new Ford Focus ST is US$ 27 K, which is about NZ $ 34k

But, they are $ 52 k at the dealers !

Yes I know there is GST and freight etc, but really, nearly 20 k more expensive!

[NZ BMW 368]

We are getting ripped on new cars too.

Just got back from USA, the new Ford Focus ST is US$ 27 K, which is about NZ $ 34k

But, they are $ 52 k at the dealers !

Yes I know there is GST and freight etc, but really, nearly 20 k more expensive!

lol is that your first time in the US? - that is like that for everything, clothes, electronics, shoes, furniture, food etc