monkeyhanger wrote: ↑
Thu Nov 11, 2021 9:26 pm
When people are buying a £30+k car for retail money, they'll almost certainly want to do that transaction with a car dealer, and most will want to be able to access finance to do it too.
Can't see nany people queueing up to buy a £30k car without discount from some random Joe Bloggs.
Motorway are prepared to pay 85% of new RRP for a a 6 month old car right now (so people who bought via DTD might be getting all their money back and a modest profit), but no dealer will buy a car from you at retail with a view to sell it above retail and net you both enough money to make it worthwhile - there's just not enough money in it.
There are many "cash" buyers. You were effectively a cash buyer as is the person who began this thread!
Why does it matter if you buy via a dealer or not as you still get the warranty? People can get finance themselves if they want. There are people who do not want to wait for a new car.
Two people I know who had recent deliveries sold privately for a good profit just today, given their cars were perceived to be worth £1750 more as VW pulled the finance deposit. If a car is listed just below £35K and you buy below £28k they is a deal to be made for an immediate sale as opposed to 7 month wait. If RIshi does the right thing (as he wanted to) and pulls the £2500 grant the cars will be perceived to be worth another £2500 more. The only variable is the dealer discount.
This may create an environment that one purchased at a price below £28k and you cannot then buy new at below £32.5k after a DTD discount (or £34k via CarWow) and a 7 month wait.
People may pay list price for an immediate delivery, given some believe an EV will save them money amyway (I don't think it will save me money, but I do not expect to).
This all relies upon a long lead time. If it continues in March and I obtain delivery, then at 85% of RRP OTR (excluding all grants, PCP incentives) I would be left with c£1850 profit. This is not bad ROI for a £500 investment/deposit! This is for a delivery mileage 1 day old car and ot 6 months old. I think I should have ordered as many as I could get on finance deposit contribution (with family) many months ago and selling them as soon as they arrive!
My wife would not be impressed if I sold the one ordered for her!