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V8 used car market

B

bdcmedia

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Hey all. Is it just me or is the used car marked really slow at the moment?
Is it because of petrol prices?

Thanks
Brett
 

camvyss

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Yes. Due to the ever increasing shortage of oil (hahahaha, there's tons out there), fuel prices have pushed everyone to buying Hyundais and other buckets of junk to try and get more K's to the tank.

It will pick back up again once things settle down in Iraq. The prices may take a while to settle afterwards but they will go down eventually.
 

steane

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camvyss said:
It will pick back up again once things settle down in Iraq. The prices may take a while to settle afterwards but they will go down eventually.

It's China that is the problem, not Iraq although no doubt the middle east situation isnt helping things. Unless China stops needing oil (it wont, it will need more and more) then it is here to stay along with a steadily declining resale value for V8's.

The second-hand car industry is in a bad way as well and it will get worse as record sales of new cars become record amounts of used cars coming on the s/h market, which is already happening. Those SV6's that every man and his dog has snapped up along with the fleet buyers in the last year or so will be reeeeeal cheap!
 
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