Author Topic: Big Increase in Prices of Second Hand Cars ?  (Read 1416 times)

Philno

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Big Increase in Prices of Second Hand Cars ?
« on: December 07, 2021, 07:31:51 PM »
Hi All
This March I bought a Jazz 2018 SE (Manual drive), from Cazoo online for £9200 with approx 13000 on the clock. So far I have been very pleased with it indeed. It came in great condition. Love the Magic Seats!

Just out of curiosity, I've just had another look on the Cazoo website to see the current prices on SE Jazz's.
There were 3 or 4 SE models for sale of the same year , condition, manual drive and  similar mileage and the prices have shot up to £12500 plus!
Also they have started to charge a £75 home delivery charge on top. This was free for me in March.
I think this is the only car I've ever bought that has appreciated in price rather than depreciated! 
What weird times we are living in! I'm not complaining though. I'm glad I bought it sooner rather than later!

Even the Start/Stop feature on it started working OK when the outside temperature increased later in the Spring!
(Not that I'm much bothered about it, mind you!)
Take care,all

Phil

Lord Voltermore

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Re: Big Increase in Prices of Second Hand Cars ?
« Reply #1 on: December 08, 2021, 11:51:18 AM »
I too looked at low mileage 2 year old cars about then. Plenty of choice and a great saving on new. 

But back then   most 2 year old cars lacked too many of the latest bells and whistles,and offered few advantages over my existing car.   At the very least I wanted  mild hybrid ,even  though thats little more than a starter motor on steroids.

I looked again in September.  Now very little choice used  And prices that made buying new much less of a leap financially. (If you can find a new one  available for delivery)

I'm very pleased with my new Mk4.  The hybrid is a joy to drive, especially in town. Quiet and refined.   But a good few thousand more  quid no longer sitting in savings   >:(   Lets hope residual values remain high
I see Cazoo and similar businesses now seem to be getting into the realms of stockmarket flotations, investment syndicates and the like. Seems there is good money being made somewhere.

  Trust a dog to guard your house  , but not your sandwich

Kremmen

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Re: Big Increase in Prices of Second Hand Cars ?
« Reply #2 on: December 08, 2021, 11:59:40 AM »
Probably me but I've always been suspicious about 1 and 2 year old cars.

There must be exceptions but why would someone change a low mileage car in such a short time.
Let's be careful out there !

TonyO

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Re: Big Increase in Prices of Second Hand Cars ?
« Reply #3 on: December 08, 2021, 01:57:13 PM »
I bought my 2016 SE in March and it is now worth more than I paid for it!  Not that it matters because I have no intention of getting rid of it.

Jayt43

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Re: Big Increase in Prices of Second Hand Cars ?
« Reply #4 on: December 08, 2021, 02:07:53 PM »
Probably me but I've always been suspicious about 1 and 2 year old cars.

There must be exceptions but why would someone change a low mileage car in such a short time.

When I bought my Mk 1 Jazz (way back in 2002) it was just over a year old and had been registered to Honda UK.

It was actually on sale at Gatwick Honda and whilst not officially a "demonstrator" it either been used by journalists or staff at their HQ. Either way it only had 7.5k on it and was immaculate (and I had zero issues for 5 years before selling on reluctantly).

With the Mk4 I get the feeling some owners have bought the car and, after using for a short time, have not got on with the technology.

There certainly seem to be quite a few on sale currently (on Auto Trader for example) and maybe they're buyers who can take the hit financially or, with the current new car shortage / high used car prices, aren't incurring too much of a loss.
« Last Edit: December 08, 2021, 02:10:12 PM by Jayt43 »

madasafish

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Re: Big Increase in Prices of Second Hand Cars ?
« Reply #5 on: December 08, 2021, 02:11:13 PM »
Probably me but I've always been suspicious about 1 and 2 year old cars.

There must be exceptions but why would someone change a low mileage car in such a short time.

We have always bought 1-2 year old cars since 20003 when we bought our Yaris . WHich is on most original parts except front disks and glowplugs.

I bought my 2012 Jazz at 6months old and 500 miles. The one owner had specced it up for retirement, then was diagnosed with six months to live and sold the car to fund a before-death cruise. Good luck to her.
« Last Edit: December 08, 2021, 02:15:43 PM by madasafish »

richardfrost

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Re: Big Increase in Prices of Second Hand Cars ?
« Reply #6 on: December 08, 2021, 04:27:03 PM »
Probably me but I've always been suspicious about 1 and 2 year old cars.

There must be exceptions but why would someone change a low mileage car in such a short time.
Since handing back my company car in 2013, all my cars have been 'nearly new'. A 2012 Jazz, a 2015 HR-V and my current main car, a 2016 Toyota RAV4, ex Toyota Head Office pool car and immaculate at one year old.

Time was, there was a great saving to be had over new, but not in these weird times. The Jazz was a trade in, the HR-V was a lease car at end of contract and the RAV4, well, I guess they move them on quickly.

As I was collecting the Jazz, an elderly lady was collecting a brand new red one, and handing back a two year old red one, which was indistinguishable from the new one. I asked the salesman why she would do that and he said I would be surprised how many elderly Honda customers replace their cars for new on a regular 1,  2 or 3 year cycle.

FarNorthJazz

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Re: Big Increase in Prices of Second Hand Cars ?
« Reply #7 on: December 08, 2021, 04:36:54 PM »
Yes -  as reported in all the motoring press,  there has been a big increase in the price of second hand cars.

In June I bought a 2.5 year old 68 plate Jazz EX Navi from a Honda franchise dealer.  It was one owner,  sold originally by the same dealer and had a very low milage,  possibly due to Covid travel restrictions.  It was in "like new" condition.

Looking on Autotrader today,  low milage cars of the same age and specification,  from franchised Honda dealers, are all about £3500 - £4000 more than I paid  -  and these cars are now slightly older than when I bought mine.  Higher milage vehicles,  and cars from non franchised dealers are also around £2500 - £3000 more.

Like Philno, it is the first time I have ever bought a car that appreciated in price.  The downside is that if you have any thoughts of instant "profit"  either the new car you want may not be available (which is why prices are up),  or the second hand car you want instead will also have had a big price increase.   There ain't no free lunch

embee

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Re: Big Increase in Prices of Second Hand Cars ?
« Reply #8 on: December 08, 2021, 05:23:59 PM »
..
As I was collecting the Jazz, an elderly lady was collecting a brand new red one, and handing back a two year old red one, which was indistinguishable from the new one. I asked the salesman why she would do that and he said I would be surprised how many elderly Honda customers replace their cars for new on a regular 1,  2 or 3 year cycle.

My 2 yr old Jazz was a one-little-lady-owner car which had lived all its life garaged and was in showroom condition. It had 1500 mls on it, 2 services at 800 and 1400 mls.
She had traded it in for a new Jazz.
Thanks very much!!  ;D

123Drive!

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Re: Big Increase in Prices of Second Hand Cars ?
« Reply #9 on: December 08, 2021, 06:38:47 PM »
Hi All
This March I bought a Jazz 2018 SE (Manual drive), from Cazoo online for £9200 with approx 13000 on the clock. So far I have been very pleased with it indeed. It came in great condition. Love the Magic Seats!

Just out of curiosity, I've just had another look on the Cazoo website to see the current prices on SE Jazz's.
There were 3 or 4 SE models for sale of the same year , condition, manual drive and  similar mileage and the prices have shot up to £12500 plus!
Also they have started to charge a £75 home delivery charge on top. This was free for me in March.
I think this is the only car I've ever bought that has appreciated in price rather than depreciated! 
What weird times we are living in! I'm not complaining though. I'm glad I bought it sooner rather than later!

Even the Start/Stop feature on it started working OK when the outside temperature increased later in the Spring!
(Not that I'm much bothered about it, mind you!)
Take care,all

Phil

If you sell your car on webuyanycar.com you will probably make a small profit on your car! Prices have been crazy. Lets hope my 09 Jazz is going to run for a few years as there's no way I can afford a car now. Problem is that even if I can buy a new car, it will takr at least 6 mths for delivery!

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