Why is so difficult to sell a car at the moment

[metalhead]

Don't think age has much to do with it, except combined with the economy and most having kids... I'm 30, and most of my mates would love an old Vette, but they have kids and/or job insecurity. My wife and I have reasonably safe jobs (as far as any are nowadays) and no kids, so I have cars and she has horses. Of course, if we still had to play in the ridiculously expensive Sydney housing market then we wouldn't be able to afford either... And even in our situation I couldn't afford the top end of the market. My '79 was a bargain priced local car, mechanically needing some work, but zero rust, decent interior etc, here and registered for 5 years. It had still sat on the market a while, and I haven't seen anything comparable in value come up for sale since.

Also, on the rhd thing, as someone who works on my own cars, I'm not interested in a rhd, would prefer lhd. Main reason being parts availability and not having any issues with a hodgepodge of components. Even for my '79 f250, which was an Aussie built one, it's all the rhd specific parts that are hard to find/buy, and that's a factory built vehicle that was made in reasonably large numbers!

Anyway, just my 2c.

[StephenSLR]

I'm 30 and most of my mates would love an old Vette

I find this to be true, I get compliments from younger folk constantly and sure they'd love one but would a 60's car be at the top of their list if they had the cash to buy one or would they go with something more modern?

s

[metalhead]

I find this to be true, I get compliments from younger folk constantly and sure they'd love one but would a 60's car be at the top of their list if they had the cash to buy one or would they go with something more modern?

Depends... I guess my point of view is biased - I own 3 vehicles, the '79 Vette, '79 f250 and a '68 MG Midget. I have very little interest in newer cars. But, I guess if I'm honest I'm not the usual case - even my 3 younger brothers, who grew up with me and driving my dad's MGA and MGBGT, have each bought newer cars to play with (MGF, MGZS, and MX5), but cost is a big factor there. Both the MX5 and MGF both cost dramatically less than even my cheap Vette, and that's disregarding the money spent on it to bring it up to scratch. The MGZS was similar to purchase, but less in ongoing costs and is the only car my brother and his wife own, so a newer 4 door car made more sense for them. I expect each of them will probably buy older cars as time goes on and they have the resources. I have other mates who appreciate older cars, but mostly have newer stuff (one does have an old Datto with a modern turbo motor in it) and some who still appreciate older stuff but are only interested in owning newer stuff (a small minority).

Price has a huge part to play. You can buy a pretty cool '80s, '90s, even '00s car cheaply, with easily available parts, and it will likely be reasonably reliable, economical, practical, and not suffer from rust... Or you can spend more money for a 60s or 70s car that will cost you more money again to bring up to scratch, and continue to cost you more in ongoing maintenance and repairs, while being fairly impractical and expensive to run... You really have to be very committed and/or in a reasonably secure financial position to consider an older car.

How many people here don't own a newer car? Assuming you do own a newer car, think about if you had a young family and current young peoples wages, and were trying to break into the current housing market. Do you think you could afford/justify a pre '80s car as a toy/hobby? Or would you be more likely to buy a cool newer car that could more easily serve double duty as a useful second car?

[StephenSLR]

How many people here don't own a newer car?

Me, newest car I own is 1976.
Yep, even in the 80's, people were selling their Aus. pony cars to put down mortgages. I always read about how they regret doing so but if they thought about it for a minute, they'd realise it's their wisest financial decision. How many times over has their property increased in value compared to what their cars have? Even if you sold a GTHO or A9X back then, you've still made more with property.

s

[metalhead]

Me, newest car I own is 1976.

Cool! You know we're a minority though.

Yep, even in the 80's, people were selling their Aus. pony cars to put down mortgages. I always read about how they regret doing so but if they thought about it for a minute, they'd realise it's their wisest financial decision. How many times over has their property increased in value compared to what their cars have? Even if you sold a GTHO or A9X back then, you've still made more with property.

Monetarily sure, but smiles?

[StephenSLR]

Cool! You know we're a minority though.

Yep.

Monetarily sure, but smiles?

True but the usual comment comes after seeing what their old car is worth these days and then saying they wished they never sold it as it would fetch 6 figures these days. Their house however would be fetching closer to 7 figures.

s

[Vettech]

Have a look on CarSales or just cars, I think they had 167 - 175 cars - nearly all C3 a few C1/2 plus some C4's. nearly all C4s were LHD unregistered !?!?!. the C3's had some LHD and they want big money. A bit too much for young family's.

[StephenSLR]

nearly all C4s were LHD unregistered !?!?!.

Yep when the USD was riding low, many US cars were imported by people wanting to make a quick buck and they were sellng them LHD unregistered. My guess is the C4's are leftovers that haven't sold as quick as the others.

s

[bootlegger]

It make me laugh when people say the poor economy is to blame for lacklustre sales of collector cars.
Just when I am about to believe that there is no money around I see some cars go for moon money.
I cant believe the money that farm clearnce sales bring for laddock wrecks.
I think the American car market has had its day. Simply put way too mamy cars have come in.
Off course the really special cars will still find a buyer.

[StephenSLR]

It make me laugh when people say the poor economy is to blame for lacklustre sales of collector cars.

Of course the really special cars will still find a buyer.

^ this is the case. Rich people are often still rich in a poor economy, they just don't spend as freely and it's often when they make their best buys. Special cars will always fetch interest, it's the not so special that have a hard time selling but you can always sell if the price is right; it's just a matter of how low you want to sell for in a poor economy.

s