This is getting increasingly frustrating. Because of my budget, I am looking only at Ford Fiesta's (Budget v Running costs v Reliability).
However, practically 95% of used Fiesta's are massively marked up by both traders and private sellers. Usually in the region of £600-1000.
I check on Parkers to confirm the "average" used price of these cars. They do not have a below average mileage or anything else which makes them special, so why do sellers overcharge so much? It is so frickin irritating.
There is no way you are going to barter someone down by £1000, so I basically just give up viewing 90% of cars I find.
Why is it that FIesta's are marked up so much? DO dumbasses out there actually pay over the odds for these average run-of-the-mill cars?
And why does it seem that anything south of Liverpool overcharges for cars by such a huge amount?
Thanks for help.
Buying tips welcome.
2007-08-18 01:24:46 · 5 answers · asked by mick dundee 2 in Cars & Transportation ➔ Buying & Selling
The problem here is you are looking at a book rather than at current market conditions. Book prices are a guide at best, and can be considerably off. You say that "practically 95%" of the cars you look at are selling at over what the book claims to be the right price! This tells me the book is not giving you current information!
Book values can be anywhere from 2 weeks to 3 months or more out of date! I do not know Parkers, seeing as I am in the USA, but I know how the books work. They gather information about sales figures, compile it, and publish a guide! Even if the book is published weekly, it is using 2 week old data! It takes time to gather data, publish and deliver the books!
It seems that you are looking in a strong market for that car! The value of anything is that a willing buyer will pay, and a willing seller will accept! I have never seen a book buy or sell a car!
Good luck
2007-08-18 01:58:44 · answer #1 · answered by fire4511 7 · 1⤊ 0⤋
Fire 451 is giving you the right answer. Prices in these guides are not neccesarily accurate.
If folks are putting Fiestas on sale at £4000 and they are fetching close to this, then that is the market value.
One thing you can be sure of is that prices drop if no one is prepared to pay the asking price. A lot of demand for this particular model keeps prices up.
Yes, people are paying the prices that may well be over the odds.
Prices south of Liverpool may well be higher, folks in e.g. London with more money in their pockets will pay more.
You asked for buying tips, so here goes. Look for a less popular car. The price will be less over the top. BUT be careful you dont choose a clunker that you will have to virtually give away in a years time. Get an RAC/ AA / similar inspection before you buy. Be very careful some older cars are just money sponges, you never stop paying for repairs.
Ford Fiestas dont have this money sponge image, so fetch better prices when older. Good luck.
2007-08-18 03:36:21 · answer #2 · answered by John S 4 · 2⤊ 0⤋
I paid £995 for my 97 fiesta in 2005. At the time Parkers suggested that it could be worth up to £1800. I feel like I got a great bargain, it's so reliable and so light on petrol. The best £1000 I ever spent.
2007-08-18 01:35:20 · answer #3 · answered by Skippy 4 · 2⤊ 0⤋
Isn't this called supply and demand,you can charge what you like if someone is willing to pay the price.Market forces.
http://www.acedrivinginstructor.co.uk
2007-08-18 10:49:25 · answer #4 · answered by Anonymous · 1⤊ 0⤋
We live in rip off Britain, everything is expensive.
2007-08-18 01:32:26 · answer #5 · answered by elizadushku 6 · 0⤊ 2⤋