Has the second hand price bubble burst?

[anonymous-user]

I just read a news article, admittedly the Daily Mail, claiming that average used prices are down 17.8% since April 2023.

What say you?

[Gigamoons]

Think its certainly coming down
But whilst new cars are now more readily available, they're ridiculously expensive at list and finance is more expensive.
And manufacturers are geared towards EVs... which I think is tipping into an over supply position as less people are moving this way than anticipated.

So whilst it will fluctuate I think the used ICE market will be strong for at least the next decade with people like me keen to ride the wave for as long as poss.
I know early adopters who moved to EV and at the end of the 4yr moved back to ICE.
I'll get an EV when I'm forced to, so plan to abstain for as long as possible.

[mirsgarage]

Watching the top end of the market, the slide is very apparent. Cars sitting around and being absolutely chopped in price, and still not moving. A car I've been looking at, in general, has slid around 10-15% in value in the last year or so.

[Nomme de Plum]

I've been posting for months that the used car bubble had burst and we'd to return to historic norms. Obviously inflation will help slow the decline slightly.

[anonymous-user]

A colleague was looking to p/x her two year old car for a brand new one recently. The dealer reduced their offer 10% over a 6 week period. It just about worked initially but not at all 6 weeks later.

[swisstoni]

I was watching a couple of YouTubes from a s/h dealer talking about the market;
At auction, modest cheap to run cars are commanding good money.
‘Prestige’ stuff going for under the valuation.

[MB140]

There’s a thread over on the Porsche part of the forum where there is something like 300 911 for sale (and speculation Porsche are hiding more in compounds), some cars like Turbo and turbo S models now having £15-20k off list price. 18 months ago you were looking at quite a wait to order a new one.

Obviously if the price of a new one is being discounted then the price of second hand has to come down.

It’s a long thread with the usual PH bickering and arguments but someone posts a daily update most days and about many are in the system.

https://www.pistonheads.com/gassing/topic.asp?h=0&...

Doesn’t help Porsche are still trying to gouge every penny out of there customer base with huge APR rates.

I get the feeling that no brand is really immune except maybe ultra rare and ultra exp naive stuff where your customer base are mega rich.

[Nomme de Plum]

Gigamoons said:

Think its certainly coming down
But whilst new cars are now more readily available, they're ridiculously expensive at list and finance is more expensive.
And manufacturers are geared towards EVs... which I think is tipping into an over supply position as less people are moving this way than anticipated.

So whilst it will fluctuate I think the used ICE market will be strong for at least the next decade with people like me keen to ride the wave for as long as poss.
I know early adopters who moved to EV and at the end of the 4yr moved back to ICE.
I'll get an EV when I'm forced to, so plan to abstain for as long as possible.

Surely this is a thread about used car prices not EVs.

Evidence is better than feelings. I know that my Diesel C Class estate depreciated from an actual offer of £17K at the beginning of the year to £15.5 sale price 5 months later.

95% of the population do not give a fig what's under the bonnet.

There will always be a few ICEs which are sought after and that won't change but to use the derogatory term oft used by deriders of EVs the 'White Goods' ICEs will depreciate as they always did.

[mirsgarage]

MB140 said:

I get the feeling that no brand is really immune except maybe ultra rare and ultra exp naive stuff where your customer base are mega rich.

Even stuff like Speciales etc are sliding on downward. Unsure of £1m+ though.

[macron]

If only there was a thread with nearly 17000 posts discussing just this.......


https://www.pistonheads.com/gassing/topic.asp?h=0&...