Secondhand car price crash?

[Theoldguard]

Is this the kind of shopper that DA often refers to, took until mid 40s to realise that she needed to start saving more, decent job, good income but seems to be poor with money and little forward planning.

Nice mention of the second car going as not really needed. How many others live like this, living in cold houses as can't afford or grudge paying £500 a month in winter.... Quite laughable really

https://inews.co.uk/inews-lifestyle/no-savings-fun...

[DonkeyApple]

NRG1976 said:

Why have all EV cars taken a battering? Never followed that market as I had no interest in electric. Is it down to insurance premiums?

In short, it's a market constructed upon tax breaks and incentives, most of which evaporate one used. And they started to hit the market used, in volume as the market tailed off which allowed true market forces to simply put do the manufacturers' abilities to maintain used prices via stock manipulation. Arguably helped by Tesla not retaining ownership of their cars once sold so not needing, or able to manipulate used values.

The media has made much hype about it being due to electricity prices and while that will hold true in segments like Motobility, in reality most households that would pick up a nearly new EV don't care one hot about the price of electricity. What such customers do care about is not unnecessarily paying someone else's taxes.

[Deep Thought]

MDMA . said:

The link isn’t new. It’s another pre registered car (September ‘23).

No. Unregistered at the time of the advert, not pre registered. I suspect the "must be registered by 30th Sept" was a weak attempt to add jeopardy.

[Bailey.]

EV’s just don’t work as claimed.

I had a id3 for a week just after they launched. Beyond awful

Never got anywhere near the claimed range and had a 80’s fiat interior. A sorry sack of st car.

Can only imagine how bad it was in winter.

Hilarious VW won’t take EV’s in px when their forecourts are full of them.

That’s before you get into child mined cobalt.

A carbon/eco scam like everything else these days. fk the WEF

[DSLiverpool]

Bailey. said:

EV’s just don’t work as claimed.

Hilarious VW won’t take EV’s in px when their forecourts are full of them.

Is this true? I’ve heard it about Porsche Taycans as well, the second user market cannot take the volume coming in from ex lease.

If this is a thing then what will happen?

I quite fancy a cheap Taycan

[Fusion777]

DSLiverpool said:

Is this true? I’ve heard it about Porsche Taycans as well, the second user market cannot take the volume coming in from ex lease.

If this is a thing then what will happen?

I quite fancy a cheap Taycan

Think someone's eager to shift this one:

[South tdf]

Bailey. said:

EV’s just don’t work as claimed.

I had a id3 for a week just after they launched. Beyond awful

Never got anywhere near the claimed range and had a 80’s fiat interior. A sorry sack of st car.

Can only imagine how bad it was in winter.

Hilarious VW won’t take EV’s in px when their forecourts are full of them.

That’s before you get into child mined cobalt.

A carbon/eco scam like everything else these days. fk the WEF

Everyone is different, an EV works for me as a daily, overnight charging, BMW interior is like any other 4 Series, realistically at least 250 miles range, great in winter as it’s warm when you get in, saves me paying £750 a month tax company car tax on the petrol equivalent.

[ChocolateFrog]

Fusion777 said:

DSLiverpool said:

Is this true? I’ve heard it about Porsche Taycans as well, the second user market cannot take the volume coming in from ex lease.

If this is a thing then what will happen?

I quite fancy a cheap Taycan

Think someone's eager to shift this one:

Something weird going on there.

You wouldn't lower the price 3 times in a day.

[ChocolateFrog]

DSLiverpool said:

Bailey. said:

EV’s just don’t work as claimed.

Hilarious VW won’t take EV’s in px when their forecourts are full of them.

Is this true? I’ve heard it about Porsche Taycans as well, the second user market cannot take the volume coming in from ex lease.

If this is a thing then what will happen?

I quite fancy a cheap Taycan

They've just about found their natural value now I think.

A low mileage under 2 year old ID3 in the £15-16k range feels about right.

It's a st car but it at that price you can certainly justify it.

There will be private punters that have taken £25k+ baths on them since Covid, which I just can't quite get my head around.

[AlexNJ89]

[DonkeyApple]

South tdf said:

Everyone is different, an EV works for me as a daily, overnight charging, BMW interior is like any other 4 Series, realistically at least 250 miles range, great in winter as it’s warm when you get in, saves me paying £750 a month tax company car tax on the petrol equivalent.

Racist child murderer!!!

[Fusion777]

Agreed that the Taycan is just finding it's natural value. They start at £52k for a 2020 car, which is probably about right for that sort of thing historically, following the famous 50% at 3 year rule.

[mk1coopers]

Spoke directly to someone I know in car sales yesterday, agreed with a lot of what is being said here, prices are heading down quickly, however, they were still short of good stock, (franchised dealer), gave an example of a high end model that they had bought with under 1000 miles on it for used stock, in the time it took to get the transfer done and the car on-site it had dropped nearly 15k, plus other examples of people coming in to trade in cars purchased from the same site last year where current valuations for trade in were over 10k less than had been paid within the last 12 months.

I know the time of year is a factor, as are many other things, I'm glad I have waited to change, I’m now expecting to pay, next year, for a car with what I would consider, ‘normal’ depreciation, hopefully around 3 years old, yes it will still probably be more expensive than if we hadn’t had what has happened globally since 2020, however what it will be is what I wanted to change into rather than having to go for a lower spec, older car for the budget put in place.

[RayDonovan]

A £15k ID3 makes a lot of sense. If you can get past the insurance costs, they are cheap to run, sufficient range for most driving profiles, decent to drive (yes, I have driven one) and look OK in the right colours.

[Fusion777]

ID3s aren't £15k yet. One is £17k, rest start at £18k.

I'm sure they will be £15k before long, though.

[AlexNJ89]

[DonkeyApple]

Pflanzgarten said:

Electric has come back down in price

No one cares about the environment really

They're bloody cheap now!

But many need or wish to be seen to care so EV's will put in a bounce at some point. If your bank won't let you fly the family to an island this Christmas maybe they'll still lend enough to get an object that says you care more than others so are a better person?

The real issue is that EVs have gone from being an object that many people absolutely dived at to make them look wealthy or on trend and that jig is up. Tesla has become all rather 'white goods' as their glitter has all washed off with time and many early adopters revealed to be genuine idiots not helping the image. And all manufacturers now offer them. And the core market is into them on the back of a higher income benefits culture so if the handouts aren't valid for a used EV a large chunk of the EV consumer demographic isn't going to want one.

But waiting on the other side for EVs are a million households ready, willing and able to pick them up as cheap sheds. They make superb suburban runabouts. No sane person wants to fanny about with remote charging let alone paying money that guarantees you have to go to motorway service stations. That would be insane!!! You pay money to very specifically not do those things, that's how planet normal works. But for an object that sits on the drive, costing next to nothing to maintain and refuel and is just used for all the mundane, day to day chores u til it is worth nothing more than scrap and eventually put in the bin, the product is absolutely superb.

Arguably the issue with a lot of EVs is that they were shaped to resemble 20th century repmobiles. Made to look like things that spent their life powering the length and breadth of the UK's motorway network keeping the economy flowing when in reality, under the skin was the perfect system for the local potterings of Margo Leadbetter.

Few other car types have to make such a transition from a first owner tending to be an apex consumer requiring the latest goods and services at any cost and easily drawn in to the benefits culture to facilitate versus second owners who have a tendency to be of the frugal, non consuming type but with funds and so not exactly likely to rush to overpay for an object but instead consider what it is worth to then and offer accordingly. It's actually a weird and unusual scenario where the front end is loaded with spenders and the other side is underwritten by savers so you've had this interesting value collapse as all the excess froth is washed away during the first ownership cycle.

And with so many apex consumers getting themselves butt hurt on the bandwagon, things like the Taycan, which is a very nice car will soon find the level at which the next buyers are willing to deal and represent good value. Same with Polestars.

[DonkeyApple]

ChocolateFrog said:

Fusion777 said:

DSLiverpool said:

Is this true? I’ve heard it about Porsche Taycans as well, the second user market cannot take the volume coming in from ex lease.

If this is a thing then what will happen?

I quite fancy a cheap Taycan

Think someone's eager to shift this one:

Something weird going on there.

You wouldn't lower the price 3 times in a day.

You would if Big Daz was sitting in your front room wanting his money back and the missus had already been put out for work.

It does look odd though. Just on its own it gives the impression the chap is screwed and that you'd actually turn up with a wad of cash and offer on anything on the property you fancied and pay pennies in the pound.

Would be interesting to know the real reason for all the rapid changes.

[Mr Whippy]

AlexNJ89 said:

Asking price analysis, not used sales volumes and prices, is a bit skewed.

And he never does predictions, he’s good, but the writing is on the wall.

People were saying rates would never go up, inflation is transitory… then every rate rise we’d see a pause, and everyone was wrong.


Never heard of a dead cat bounce? Even aggressive on inflation Volker got bitten by a resurgence in inflation and the USA could be seeing the same again soon with their stupendous fiscal stimulus packages.


In any case, with so much uncertainty, and winter, you’d be a nutter to go buying a Porsche now when you can make 5% in cash safely for 6 months.

There is no way the Porsche market will go up 5% over winter so win win.

Wait and see. Don’t buy on ‘statistical’ analysis that the worlds biggest central banks can’t even do properly

[DSLiverpool]

Fusion777 said:

Think someone's eager to shift this one:

Is that the AT extension?

That’s a panic sale and the first one under £50k I bet