Secondhand car price crash?

[What The Deuces]

NRG1976 said:

What The Deuces said:

To the posters confidently stating we’re at pre Covid used prices.

Are we?

Is it indexing the same cohort of cars from t0 or used prices generally? If the former that’s interesting, I suspect it’s the latter which doesn’t take into account the higher cost of cars a point of sale.

It’s an index published by ONS and used as part of CPI

I suspect it works ‘ok’ lol

If you could filter out EV’s it would be even more interesting

[What The Deuces]

Fusion777 said:

I've not seen anyone suggest we're remotely near pre-Covid used prices.

Hidden in the dull monologues and social insults it’s been suggested we’re well on the way to 2019 prices.

We’re not. We might be about normal depreciation which is what most of the sensible ones of us postulated way back in the mists of time.

[Deep Thought]

What The Deuces said:

Hidden in the dull monologues and social insults it’s been suggested we’re well on the way to 2019 prices.

We’re not. We might be about normal depreciation which is what most of the sensible ones of us postulated way back in the mists of time.

[andy43]

Dingle Dell said:

andy43 said:

AlexNJ89 said:

Dingle Dell said:

I really feel like it ticks all the boxes for me, and all ownership comments I see are positive, so right now it's hard to think of why I wouldn't buy one. That being said, i'm in no rush, and my fixed term investments become free next March, which should be good timing. I had decided it would have to be a 21 or later as the revisions seemed to be very positive, and I agree the silver does the car no favours. I actually like the car in white (unusual for me), and the red looks good too. I dropped by my local Lexus dealer and the reception I got was top notch. Not pushy but happy to spend time and chat about the cars.

Edited by Dingle Dell on Monday 20th November 20:26

Have you driven one?

I test drove one and it was excellent, the perfect size and power. Rear wheel steer made it feel nimble and high quality interior. Only downside was the boot space.

Mines a red ‘21 convertible - no RWS and a smaller boot than the coupe but there’s always the back ‘seats’, and it’s still bigger than the boot on the Maserati it replaced. By March I reckon 70k or less would get you a convertible - there’s two or three at 75 now, or a 21-on coupe could be mid 60s by then.
Alternatively by Spring you’ll be able to pick up a nice M850i for 27 pence…

I haven't driven one yet, but I can't imagine a reality where I won't like it. The one thing I miss about my old Vantage is the sound, and the LC500 will sound every bit as good if not better. Boot space should be enough for the type of trips i'll be making.

I have never been into convertibles myself (though yours looks nice in the red), so would be getting the coupe, so will see where prices of 21 and later cars go. I did consider buying new, but not sure I can justify the initial loss, and when you have the 10-year warranty, there seems little to be concerned about picking up a two or three year old car.

Today’s review. I think you’ll like it as much as they did
https://www.youtube.com/watch?v=2HPszF7iwYw

[JaredVannett]

Any opinions on E39 M5 pricing at the moment - well justified or complete fantasy land?


I know every year there is going to be slightly less on the road but it wasn't exactly low volume say relative to a 1M.

I often see them with asking prices of £25k-30k with high miles and owners - garage queen examples up around £35k-£40k last time I checked.

example: https://www.pistonheads.com/buy/listing/15895625


Sometimes I do wonder if fantasizing about 2000s cars is all a bit "rose-tinted" in that modern vehicles are a huge leap forward. I mean for less you could get a BMW F10 M5 - compromise on the manual?

[ChocolateFrog]

It's got a wky German style plate, yuk.

They look overpriced to me but then a Skyline or Supra from the same age is over 100k so in that sense they seem decent value.

[AMV93]

Casa1862 said:

Problem with the 8 series is the extended warranty costs, I checked as I was interested in a 840i...£2639 per year(or about that), just not worth it and BMW must know how expensive they are to repair.

bmw-warranty.co.uk for prices

Edited by Casa1862 on Tuesday 21st November 15:32

I'm genuinely shocked by that...I took out Aston Martin's extended warranty on my 2019 Vantage at the end of last year when it ran out, it was £3.5k for 2 years and was interest free over 10 months. I thought that was amazing value, all things considered.

I'm sure Porsche extended warranty is pretty reasonable too, unless high cost/low availability of parts has bumped these premiums up massively recently?

[Yomamaisasnowblower]

Talking crystal butt plug gear selectors, they also feature on some Inscription spec Volvo's, BMW iX and quite a few other cars of a french variety I think. Don't really see the point but I guess the focus groups found people liked them

[Kerniki]

Yomamaisasnowblower said:

Talking crystal butt plug gear selectors, they also feature on some Inscription spec Volvo's, BMW iX and quite a few other cars of a french variety I think. Don't really see the point but I guess the focus groups found people liked them

If someone loves the way something looks, its amazing what else they’ll overlook.

You’ll find they’re exactly the same with many areas of their lives cosmetics? make up & surgery arent massive for no reason

I’m pretty sure there’s crystal butt plugs hidden elsewhere in their lives to

[Fusion777]

What The Deuces said:

Hidden in the dull monologues and social insults it’s been suggested we’re well on the way to 2019 prices.

We’re not. We might be about normal depreciation which is what most of the sensible ones of us postulated way back in the mists of time.

Who’s suggested we’re well on the way to 2019 prices?

[Kerniki]

Does the graph allow for inflation?

£90k from 2019 is in fact £110 today, chart is showing circa £120k, not a million miles away i guess..

Edited by Kerniki on Wednesday 22 November 06:51

[DonkeyApple]

andy43 said:

Today’s review. I think you’ll like it as much as they did
https://www.youtube.com/watch?v=2HPszF7iwYw

The thing about the LFA is that it highlights, rather enormously, just how much life and soul of cars has been robbed by the accountant's turbo.

It also highlights how few modern consumers desire cabin elegance versus Bullseye speedboat chic.

It's not a particularly pretty vehicle on the exterior and few apex consumers would ever consider one due to the non winner logos and almost none would go into debt to be made a better human through temporary association to an object shoppers currently revere and worship after receiving instruction from their leaders.

How many other relatively anonymous, good sized cars are there that haven't been neutered by the accountant's turbo?

[Tonberry]

Even Car Dealer Magazine is panicking:

https://cardealermagazine.co.uk/publish/used-car-p...

The point always was that used car prices cannot rise or hold their levels indefinitely. Normal depreciation was always going to return and its doing that with extra on top if these falls continue.

BMW is delaying its launch of the ridiculous 'agency model' so they can see Mercedes fail with it first.

The funny money has dried up, its that simple. The bounce back loans have been spent and interest rates have risen.

There is no longer a massive queue out of showroom doors for X5s, Q7s, Range Rovers and Mercedes SUVs.

[Venisonpie]

andy43 said:

Today’s review. I think you’ll like it as much as they did
https://www.youtube.com/watch?v=2HPszF7iwYw

I like an LC500 but that touch screen demonstrates why they're crap. How much of a faff to just turn on heated seats.

[Frimley111R]

Dealer market review for October doesn't sound good...https://www.youtube.com/watch?v=vJPEIm4b7Go&t=518s&ab_channel=CarUK

[Vroomer]

Tonberry said:

Even Car Dealer Magazine is panicking:

https://cardealermagazine.co.uk/publish/used-car-p...
.

Used car price drops ‘causing waves across sector’ as falls take car dealers by surprise

Used car prices have dropped 13.7% since April – with another November drop looking likely
Cox Automotive director tells Car Dealer Podcast falls are ‘causing waves’ across industry
Some car dealer groups are on ‘buying bans’ as prices face radical correction

[carparkno1]

Heard direct from a vw sales manager they are moving to agency model on some cars v soon… sales people away to functions soon to learn about it.

I assume that means a 50 k golf r would indeed be list price… no discount bar vwfs input as dealer contribution would be out.

[Unreal]

JaredVannett said:

Any opinions on E39 M5 pricing at the moment - well justified or complete fantasy land?


I know every year there is going to be slightly less on the road but it wasn't exactly low volume say relative to a 1M.

I often see them with asking prices of £25k-30k with high miles and owners - garage queen examples up around £35k-£40k last time I checked.

example: https://www.pistonheads.com/buy/listing/15895625


Sometimes I do wonder if fantasizing about 2000s cars is all a bit "rose-tinted" in that modern vehicles are a huge leap forward. I mean for less you could get a BMW F10 M5 - compromise on the manual?

My opinion. Fantasy land. Pre-facelift. All the signs of a seller trying to cash in before it's too late. Not a chance of getting anywhere near that money for it.

[Vroomer]

carparkno1 said:

Heard direct from a vw sales manager they are moving to agency model on some cars v soon… sales people away to functions soon to learn about it.

I assume that means a 50 k golf r would indeed be list price… no discount bar vwfs input as dealer contribution would be out.

What is the 'agency model'?

Thanks.

[Kuwahara]

Vroomer said:

What is the 'agency model'?

Thanks.

No idea either…