Are cars going to go down in price like houses?

Question

If so how long should you wait to get a good price?

Answer 1

Only on gas guzzler SUVs and trucks that are currently in inventory. Prices of fuel-efficient cars are going up as demand goes up.

Manufacturing costs are going up, so automobile prices in general will be going up as well.

Answer 2

Some are, some aren't. Small fuel-efficient hatches like Corsas and Clios seem to be holding their value quite well just now, but bigger petrol engined cars from 2001 onwards are really struggling because of the new tax laws which will hit them hard. There was an article in a local paper here about how a lot of dealers are refusing to take big petrol 4x4s like BMW X5s and Merc MLs at all as part exchanges.

So if you want a huge 15mpg truck, now's your chance!

Answer 3

I live right across the road from a big showroom in Glasgow and they are coming down.Maybe not as much as houses but they are getting cheaper.

Answer 4

No point waiting, the value of your car is never going to go up unless it's a Zonda or something rare.  Car prices may drop if they're gas-guzzlers with high tax, but if people stop buying houses they'll probably buy cars instead, so prices won't drop much.

Answer 5

It depends on the type of car.  The cars that will get hit most by tax, fuel prices, etc. should drop quite a bit, especially second hand as owners have trouble unloading them, while the more economical cars will likely go up in price.

Answer 6

They certainly are,look at the numbers of unsold cars on display,also the bigger engined fuel guzzlers will not sell well and their prices will drop first,small economical diesels will be in great demand,second hand and new.

Answer 7

Absolutely, cars have gotten much cheaper over the past few years.

Especially if you're in the market for a truck/suv, due to gas costs they are selling dirt cheap.

Answer 8

Yes they are.  Some dealerships have had to close down show rooms.

Just keep an eye on the prices.

Answer 9

yes cars are decreasing in price, as is everything else. If you have cash to spend, then you are onto a winner. I would go to an auction and buy, like I recentlry did, a newish car. I got a 56 Plate Golf TDi 150 BHP in Silver for £4200, which was very cheap...

London is the cheapest place for most cars, if you know where to look.

Answer 10

Yes all new car prices are falling due to the credit crunch for example my local vauxhall dealer is has slashed the price of a vauxhall vectra 1.9 cdti 150 bhp from £19,000 to £9,000 saving a whopping ten grand. Vw also are selling a vw golf 2008 2.0 tdi 150 for £9950 down £4000

this is also reflecting on the second hand car market. for example this May a golf iv tdi 130 with 70 thousand miles on the clock cost £7000 second hand, now it will only cost you £4100.

Answer 11

Used cars are already dirt cheap - the new car market is flooded with company vehicles & financed vehicles, and there are just too many cars on the roads. Drive on any motorway or in any city, and you'll see thousands of newish repmobiles occupied by one person per car, all stuck in endless queues.

Look on Ebay or visit an auction, and £1000 will get you a really nice car, £500 will still get you a decent motor.