Has the car s/hand car price bubble burst?

[Jazzyone]

I bought my new SR 3 weeks ago having ordered it 2 months ago. I part exchanged a 2020 Seat Arona FR. At the time of doing the deal We Buy Any Car we’re quoting £17600 for it. I used this as a guide when negotiating with my Honda dealer and got £16900 for it against the SR which I thought was about right. I still keep getting emails from WBAC with an updated value. Over the last 3 weeks that value dropped to £16500 then £15500 and today it’s dropped to £14305! The prices dropped a few days after the new 22 plate came out so I can only assume that the glut of part exchanged cars has driven the market down.
So, boy am I glad I got mine ordered when I did otherwise I would wouldn’t have changed the car. But there must be people now looking for new cars and will be sadly disappointed after all the hype about how much their car is worth.
Just shows how fickle things can be.
Have to say I’m really enjoying the new Jazz. First ‘automatic’ for me and it’s so easy,quiet and smooth to drive.MPG around hilly Huddersfield is showing 50 on first 400 miles on only local journeys. That compares to 35 for the Arona so I’m well pleased.

[E27006]

A friend with a senior position in car retailing has told me the chip shortage is to last for several years, S/H cars should remain high in price  due to shortages of new car production. The car makers are not losing out, VW announced their strategy for the rest of the decade as  lower production numbers, but each new car from production will carry greater profit margins for VW, therefore aggregate profits will increase.  I think we can say farewell to low-cost mass motoring, motor car ownership and usage is heading to those fortunates to have   comfortable incomes

[sportse]

I did wonder if the market had crashed when Autocar magazine said you could pick up a secondhand SE for £14k now…

But despite an online search the cheapest non damaged ones seem to start at 17k, where they were last year when I bought my EX.

[RichardA]

We Buy Any Car quoted my £1,050 for my 121,500 mile 2007 Jazz Sport manual. A few months back it was around £600.

[sportse]

Trade in value for my 21 EX has been fairly consistent over this year despite the mileage going up.

I use the autotrader app - you can put cars into your garage and it gives you an updated price whenever you open the app.

[PaultheManc]

Just sold my 2015 ES Plus CVT Jazz, 27,000 miles, prior to picking up my new Hybrid tomorrow.  The selling dealer offered me £7,500 trade in.  I took it to Webuyanycar, with an 'offer' price of £8,350 - the agent went round the car, processed the numbers and offered me £7,150 ... after a little discussion (I did mention the £7,500 trade in) he 'communicated' with his manager, revised the offer to £7,550 - I said he had to offer £8,100 or I would walk (given the 'admin' fees and fast payment fees )... I walked.  Today I took the car to Evans Halshaw, with an 'offer' price of £7,955, where I had declared the car to be 'less than average condition', with the aim of avoiding price revision.  The experience was excellent, and professional.  The agent looked round the car, said it was in excellent condition, processed the numbers and said they would be happy to give me the offer price.  A bit more paperwork done, where he rounded the payment to £8,000 and I had the payment in my bank account before I got home. What a contrast to Webuyanycar. I used Evans Halshaw in Altrincham and am a delighted customer and would highly recommend them.  Now waiting till tomorrow to pick up the new Hybrid.

[crosstarhonda]

Just done “the motorway way” and it’s £500 more than when I brought it in February. Go figure!

[olduser1]

Dealers in used will provide a £ to appeal to owners coming to the end of PCP deals. Very few new sales are bought without finance options.
New vehicles are made to order so the UK will continue to enjoy shortages in some popular models. As ever it's all about the cost if change when looking around for another Jazz. I prefer to stick with petrol or untill someone can produce a modern 2CV, Renault 4 Beetle SAAB for Under 12000 on the road.
The real impact of inflation hasn't even begun to hit us yet.

[sportse]

I'm still seeing second hand/ex demo Hondas selling for more than list by the dealers.

The wait time for brand new cars must be quite long - I think Honda only send a boat over every few months.