Thinking of Selling, but told prices are dropping like a stone (67 Viewers)

[Sue]

Very depressing..
We are thinking of selling our IH Motorhome… it’s simply time to move on, but we have been told that, although prices went up after covid, they are now dropping like a stone. The market is weak because the future is so uncertain
What does everyone think? Is this your experience?

 

[EuroTrotters]

I dont see prices dropping

 

[WESTY66]

Have you driven one? If not go for a test drive I think you will be surprised

Nothing to do with the drive, it’s the expense, I couldn’t afford one!
I have a 2k Kuga atm and that’s getting run into ground

 

[The Wino]

Nothing to do with the drive, it’s the expense, I couldn’t afford one!
I have a 2k Kuga atm and that’s getting run into ground

We did that years ago with a Corsa that we had for about 16 years then realised we could actually drive something newer at a similar cost with the extra economy saved swapping to a newer car that used less fuel ( a three year old diesel fabia).
I think at some point that's going to happen with electric.

 

[Brains]

This is an interesting topic in its own right.

In the UK 15 or 20-year-old cars are usually worth almost nothing. In other countries they are worth different amounts.

To illustrate: the car I drive in Portugal was imported from the UK by its previous owner. So it's a right hand drive and an oddity here.

However, a 2005 Nissan Pathfinder with over 200k miles would be worth very little in the UK. Maybe £ 3 - £ 3.5 k at a push?

In Portugal, when available (and LHD), they sell for € 14,000 - € 15,000.

The cars are equally 'useful', in terms of utility over their remaining potential service life, in the two countries, but their market worth is massively different.

Now introduce a market 'discontinuity' where you can no longer buy the thing new and the only available ones are of a certain age. What effect does that have? If demand continues to exist, they will of course increase in value.

In Japan, second-hand vehicles are almost worthless (and RHD).

There a a network of dealers in Japan who buy up vehicles of a certain make, model and spec and these are all shipped to the UK a few times per year where they are sold onto the Second-hand UK market where they are worth a lot more.

There is a network of dealers in the UK who buy up vehicles of a certain make, model and spec and these are all shipped off to West Africa a few times per year where they are sold onto the third hand Nigerian market where they are worth a lot more.

In Turn the Nigerians sell them on, and eventually the parts also are sold on further.

It would be quite common for a vehicle to have been made and sold in Japan, do 5+ years in the UK before doing a decade as a taxi in Lagos bere being reduced to parts in Congo

Maybe we will be selling our European Diesel powered motorhomes to an emerging market in the 2040's.
India would be an obvious choice.

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[LostInSpace]

The big big thing about today's oil powered motorhomes is that in ten years time they are all going to be worthless.

I don't think so. Could be the opposite.

Either way, I will not be too bothered. We are enjoying having it.

 

[Southend]

The issue with that is finding people that have the cash or finance becomes an issue ......... easy with a dealer..! In fact I once heard that used car dealers don't really sell used cars...what they sell is finance and the used car is the gift to promote it! Would think in many cases it's the same with MH's.

A good friend was looking for a van last year. He made a big thing of being a cash buyer and a local dealer told him cash was no longer king and that they make more selling finance.

 

[WESTY66]

Maybe we will be selling our European Diesel powered motorhomes to an emerging market in the 2040's.
India would be an obvious choice.

So basically thanks to the ****s in charge of the EU and U.K. we’re not allowed to pollute the earth, but others are, and we have to pay through the nose for the privilege.

 

[Brains]

So basically thanks to the ****s in charge of the EU and U.K. we’re not allowed to pollute the earth, but others are, and we have to pay through the nose for the privilege.

Not quite as simple as that, as if they want to export, they will need to comply as well.

A couple of decades from now the big polluters will be the USA (and maybe India)

 

[PlacidoD]

Only pay what you are comfortable with or walk away

That is exactly what I did. I bought near the top of the market in April this year (The Bad) from a decent trustworthy dealer. But I bought an affordable, modest mileage, pristine, re-upholstered 6 metre van from the Erwin Hymer stable with full service history and zero MOT advisories (The Good).
My thinking was to dip my toe in the water during 2024 and sell up in 2025 if it did not suit me accepting that there would be a modest loss if I did that. OK my loss if I were to sell in April 2025 would be maybe £2k larger than I figured but the loss would be modest and not a disaster.

As it happens I rather like van life. I am learning as I go along and I prefer having a modest investment sat on the drive that does not rule my life because of the amount of money tied up in it. (I have a lot of singing commitments, I still work and I don't want to feel forced to use the van on poor weather weekends like the next one!) I know what I would buy in the event of a decent lottery win or similar (A LHD Rapido C03 with "bells and whistles" but probably only when they get round to offering an auto box on the Boxer chassis) but meantime I have lots of other things I would prefer to spend my money on!!

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[PaulW2]

Maybe we will be selling our European Diesel powered motorhomes to an emerging market in the 2040's.
India would be an obvious choice.

By the 2040s we probably won't see India for dust, will we?

They've averaged better than 6% GDP growth for decades now and will probably continue this growth rate for a few decades more. They already own a good chunk of what was previously British industry (like Jaguar/Land Rover). And as I understand it they're pretty in tune with the move to non-ICE engines.

I would imagine that their fellow BRICS countries are likely to provide happier hunting grounds?

 

[Bobbejaan]

A good friend was looking for a van last year. He made a big thing of being a cash buyer and a local dealer told him cash was no longer king and that they make more selling finance.

That's quite a common business practice .... When we're buying something expensive majorly expensive which would normally by purchased on finance (which is very rarely), we never let on initially that we plan on paying by cash-via-CC and let them continue to think we're finance-buyers.

That way, we can milk them for all the "freebies & purchase-price discounts" because they think they'll make it all back & more on the finance, then we pull out the credit card when we've haggled down the final price to our satisfaction .... Seeing the consequent lokks on the faces of the sellers is sometimes "priceless".

Back in 1997, my Dad bought a 300-mile old brand new demo-registered Subaru Forrester from a canterbury dealer, and my soulmate did the haggling as she's FAR better at it than I am ..... When it came to paying the final agreed-purchase price (excluding finance) of circa £21,000, we pulled out my Dad's credit card and insisted on paying that way to the dismay of the dealer.

My Dad LOVED it as he had a Special Offer on his Card of One Airmile for every Pound spent at the time, and used that 21,000 Airmiles for his bi-annual trips to Spain for years afterwards.

 

[InvictaMoto]

My wife wants me to sell my GT750A as I hardly use it after a lockdown rebuild and about £4k spent. Apparently the market has dropped like a stone....