Author Topic: Used car prices going crazy.  (Read 2488 times)

Kremmen

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Re: Used car prices going crazy.
« Reply #15 on: June 15, 2021, 10:47:11 AM »
Those are Parkers figures. When I remember I take a note of current value.
Let's be careful out there !

madasafish

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Re: Used car prices going crazy.
« Reply #16 on: June 15, 2021, 01:16:09 PM »
Meanwhile some Honda dealers are offering 10%off the price of a new Jazz, so there is not much demand.

Please post details of the Dealer offering 10% off,  does the discount apply to  Dealer supplied finance or cash purchase?
If the buyer does not have a vehicle to part exchange, is the discount still applicable?

https://www.autotrader.co.uk/car-search?sort=relevance&postcode=st87dr&radius=1500&make=HONDA&model=JAZZ&include-delivery-option=on&maximum-mileage=100

Deejay

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Re: Used car prices going crazy.
« Reply #17 on: June 15, 2021, 03:14:40 PM »
I use Webuyanycar as a barometer as to the value of my cars. At the present I’ve a 2019 Jazz Sport with CVT.

On 30th March this year WBAC offered £11,260 for it, today’s valuation is £13,725 considering I paid £15,400 for it new that’s quite impressive.

richardfrost

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Re: Used car prices going crazy.
« Reply #18 on: June 15, 2021, 03:52:11 PM »
Heard a great reason a colleague gave for not being able to return to the office any time soon. She had sold her car. I suppose for the better part of 18 months, having a large depreciating asset sitting outside the house slowly deteriorating must have prompted the choice. A lot of work from home couples will also now be realising they can get by with one car instead of two. This might cause overall sales volumes to be depressed.

On the other hand, the worldwide shipping delays and the parallel worldwide shortage of components, specifically computer chips and screens, is driving down availability. This will inevitably cause an increase in the value of quality used vehicles.

I have a letter from my Toyota Dealer telling me the Group Operations Director has some good news regarding my existing vehicle. I wonder what that might be? As if I didn't know what they are up to. :D


Rory

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Re: Used car prices going crazy.
« Reply #19 on: June 15, 2021, 08:25:38 PM »
Heard a great reason a colleague gave for not being able to return to the office any time soon. She had sold her car. I suppose for the better part of 18 months, having a large depreciating asset sitting outside the house slowly deteriorating must have prompted the choice. A lot of work from home couples will also now be realising they can get by with one car instead of two. This might cause overall sales volumes to be depressed.


I've certainly been thinking about for my "work" car - it's literally done a few hundred miles since March 20.  It isn't worth much now, but I was a bit mad taxing and re-insuring it a few months ago - if I'd thought about, I should have SORN'd it.

That said, it does seem as though there is still pretty high demand for new and used cars.  I know many haven't been affected by Covid etc, but you'd think enough would have been affected to take the edge off demand.


E27006

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Re: Used car prices going crazy.
« Reply #20 on: June 15, 2021, 09:05:31 PM »
The life blood of a franchised  car dealer is the used stock, not the new, they make more money on a used car sale than a new car purchase.  Sales of new car took a dive in 2019 and collapsed in 2020, the dealers are struggling to find 2 to 3 year old quality stock for their used car forecourts

MartinJG

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Re: Used car prices going crazy.
« Reply #21 on: June 15, 2021, 10:52:30 PM »
The life blood of a franchised  car dealer is the used stock, not the new, they make more money on a used car sale than a new car purchase.  Sales of new car took a dive in 2019 and collapsed in 2020, the dealers are struggling to find 2 to 3 year old quality stock for their used car forecourts

Oh yes. Those part ex trade in deals for the old jalopy are just manna from heaven. New cars are really just about 'money for old rope' finance deals, servicing charges coming in second place with traditional volume car sales bonus payouts coming an increasingly poor third these days.
« Last Edit: June 15, 2021, 10:54:09 PM by MartinJG »

Westy36

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Re: Used car prices going crazy.
« Reply #22 on: June 16, 2021, 08:34:56 AM »
It'll calm down soon enough. Lots of folk have saved up a bundle of cash over lockdowns and can't spend it quick enough. Might be as soon as the end of October, or maybe early next year, but this is nothing other than a blip IMHO.

What makes it so interesting though, is that this has never happened before. Car values, other than classics or the very occasional hot new model that trade over list briefly, have only ever gone one way. Down, and usualy fairly quickly. Covid is a first, and so is this current car market.

I think the fact that saving rates are so low that it makes saving feel pointless, is part of it too. What is the point of keeping the money when 0.4% is the reward? May as well spend it....'YOLO' and all that.

For those that do need to borrow for a purchase, it has never been cheaper or easier to do so.

A unique and interesting time. We should oppen up forum odds on when it will end !!

« Last Edit: June 16, 2021, 08:36:57 AM by Westy36 »

MartinJG

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Re: Used car prices going crazy.
« Reply #23 on: June 19, 2021, 11:16:37 AM »
I think the other factor is that the younger and coming generations know no difference. Debt is just a way of life to them. All part of the 'you will own nothing and be happy' mantra, care of Herr Klaus Schwab, Bond Baddy in waiting, and his fellow clones...

« Last Edit: June 19, 2021, 11:23:43 AM by MartinJG »

Hora

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Re: Used car prices going crazy.
« Reply #24 on: July 03, 2021, 04:47:59 PM »
Reading that used prices were through the roof I checked out (purely for interest) what webuyanycar would give me for mine.
Appears it’s worth £750 more than I paid 3 months ago!
Shame I love it really coz there’s no way I’m going to flog it.

I wouldn't trust wbac one bit. I used them two days ago - £400 for 3 stone chips on lower front (plastic) valance. I questioned him and his reply was 'that's what we are knocking off for those/tough you can leave it). I came away with a price that put me firmly towards the others/PX range.

With hindsight I should have px the car so I would have had something to drive around in for the weekend before new car collection.

Kremmen

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Re: Used car prices going crazy.
« Reply #25 on: July 04, 2021, 04:29:20 AM »
Almost every car will have some frontal stone chips, can't avoid them these days.

WBAC know that and as posted on many forums they give you a quote based on showroom condition to suck you in then knock you down.
Let's be careful out there !

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