Secondhand car price crash?
Discussion
Deep Thought said:
Long term sick. Yup, totally get they are not able to work.
Disabled. I know many disabled people who work. Granted i'm sure theres a % who cant.
Don't need to (looking after family/house, early retired) - Chosing not to work.
Learning - Adult students we're talking about - Chosing not to work.
The group is aged 16-64, that would cover students of all ages, including some still at school - please read the article.Disabled. I know many disabled people who work. Granted i'm sure theres a % who cant.
Don't need to (looking after family/house, early retired) - Chosing not to work.
Learning - Adult students we're talking about - Chosing not to work.
Like I said, saying 1 in 5 are choosing not to work is incorrect.
andyalan10 said:
Look, this thread is for discussing other people's fecklessness or paper wealth, please don't try and subvert it with stuff about the state of the secondhand car market.
This thread is helping wean me off visiting the HousePriceCrash.co.uk forums which have long been a guilty pleasure of mine. Pretty much every thread there is 'I went to town on Saturday and there were loads of people about - the economy is fine!'; 'Rubbish! There are loads of people about because they're all taking longer to sniff out bargains because they're skint!'; 'There are lots of working age people not looking for work - there's something fundamentally wrong with the economy'; 'Rubbish! there are lots of working age people not looking for work because the economy is so healthy they've already got enough to retire!' etc etc. This thread is basically the same, with the bonus of there being a lot less racism and even the occasional bit of chat about cars. I base all my house purchasing choices based on how busy the McDonald's drive through queue is on the last Friday of the month.
Long queue, people have money to burn treating their family to a well earned takeaway economy must be booming, type to look at houses I can't really afford.
Short queue, everyone must be at nandos economy must be really really booming, time to look at houses I definitely can't afford.
Long queue, people have money to burn treating their family to a well earned takeaway economy must be booming, type to look at houses I can't really afford.
Short queue, everyone must be at nandos economy must be really really booming, time to look at houses I definitely can't afford.
Mr Mill said:
I think you should read the article. It's not that they are all choosing not to. The majority can't (long-term sick or disabled), don't need to (looking after family/house, early retired), or are learning to (students).
This isn't the statistic you're looking for.
Astonishing naivety. You sound like millions of others in the country who believe everything you read or are told. Do you honestly believe that many of those classed by a welfare system that is This isn't the statistic you're looking for.
Edited by Mr Mill on Thursday 14th March 23:41
a. Overgenerous
b. Compensates non visible conditions that rely on the honesty of the supposed sufferer (bearing in mind that a lot of humans have low intelligence and/or are weird)
c. Provided by the UK Government with all the implicit incompetence, mismanagement and complete absence of any oversight/policing
are incapable of some kind of work. The real answer is the world runs on a system where a small number at the top and their progeny benefit disproportionately and most of the rest of us spend a large proportion of our lifetimes doing things we don’t want to in order to enrich those at the top. Of course given an option to opt out of this many will.
Mr Mill said:
The group is aged 16-64, that would cover students of all ages, including some still at school - please read the article.
Like I said, saying 1 in 5 are choosing not to work is incorrect.
I wish it was a bigger % as it would really put more sand in the vagina of those who know the price of everything and the value of nothing Like I said, saying 1 in 5 are choosing not to work is incorrect.
Franco5 said:
Astonishing naivety. You sound like millions of others in the country who believe everything you read or are told. Do you honestly believe that many of those classed by a welfare system that is
a. Overgenerous
b. Compensates non visible conditions that rely on the honesty of the supposed sufferer (bearing in mind that a lot of humans have low intelligence and/or are weird)
c. Provided by the UK Government with all the implicit incompetence, mismanagement and complete absence of any oversight/policing
are incapable of some kind of work. The real answer is the world runs on a system where a small number at the top and their progeny benefit disproportionately and most of the rest of us spend a large proportion of our lifetimes doing things we don’t want to in order to enrich those at the top. Of course given an option to opt out of this many will.
I think your irritation is misplaced. I was simply paraphrasing the article and suggesting that the particular statistic was inappropriate for use as an argument in the discussion of the used car market.a. Overgenerous
b. Compensates non visible conditions that rely on the honesty of the supposed sufferer (bearing in mind that a lot of humans have low intelligence and/or are weird)
c. Provided by the UK Government with all the implicit incompetence, mismanagement and complete absence of any oversight/policing
are incapable of some kind of work. The real answer is the world runs on a system where a small number at the top and their progeny benefit disproportionately and most of the rest of us spend a large proportion of our lifetimes doing things we don’t want to in order to enrich those at the top. Of course given an option to opt out of this many will.
macron said:
. The difference? A new, advisory free MOT!
Feb 26
Today
There's also been a plate change so your car is technically a year older. Also, new MOT without advisory is probably of more interest to private buyers than trade. If I were trading my car I'd do it just before the MOT expires as it'll make no difference. Feb 26
Today
Edited by macron on Saturday 16th March 10:25
macron said:
. The difference? A new, advisory free MOT!
Feb 26
Today
None of the others are better!
As the value of 3 year old 30k miles cars are on the up again, maybe demand for what I assume is a bit older car is reducing.Feb 26
Today
Edited by macron on Saturday 16th March 10:25
None of the others are better!
Edited by macron on Saturday 16th March 10:27
One thing is for sure, in answer to the title of the thread, we have not had a crash at retail level and it might take WW3 to trigger one.
Seems most dealers have had a good March with new and bought in some much needed PX’s as used is still in great demand.
Have also noticed a pick up in JLR product, anything VAT Qualifying (ex lease, rental etc) is making very good money, I assume for export where as normal stuff has got so cheap people are swallowing the extra insurance premiums (and poor reliability).
Highlight this week for me was Vauxhall E-Vivaro Life minibuses. We had a healthcare company ask to provide 20 new ones. They were amazed when we offered them less than a year old ones sub 10,000 miles for £21k when the list is close to £40k. How hard is it to find 20 23 registration E-Vivaro Life's?, not very when the trade are selling them for £15-£18k so that was a nice little deal.
Have also noticed a pick up in JLR product, anything VAT Qualifying (ex lease, rental etc) is making very good money, I assume for export where as normal stuff has got so cheap people are swallowing the extra insurance premiums (and poor reliability).
Highlight this week for me was Vauxhall E-Vivaro Life minibuses. We had a healthcare company ask to provide 20 new ones. They were amazed when we offered them less than a year old ones sub 10,000 miles for £21k when the list is close to £40k. How hard is it to find 20 23 registration E-Vivaro Life's?, not very when the trade are selling them for £15-£18k so that was a nice little deal.
Auto810graphy said:
Seems most dealers have had a good March with new and bought in some much needed PX’s as used is still in great demand.
Have also noticed a pick up in JLR product, anything VAT Qualifying (ex lease, rental etc) is making very good money, I assume for export where as normal stuff has got so cheap people are swallowing the extra insurance premiums (and poor reliability).
Highlight this week for me was Vauxhall E-Vivaro Life minibuses. We had a healthcare company ask to provide 20 new ones. They were amazed when we offered them less than a year old ones sub 10,000 miles for £21k when the list is close to £40k. How hard is it to find 20 23 registration E-Vivaro Life's?, not very when the trade are selling them for £15-£18k so that was a nice little deal.
I find little snippets like this very interesting. Insights offered on this thread, and others, from people actually actively involved in the trade are obviously valuable. Perhaps worthy of their own thread.Have also noticed a pick up in JLR product, anything VAT Qualifying (ex lease, rental etc) is making very good money, I assume for export where as normal stuff has got so cheap people are swallowing the extra insurance premiums (and poor reliability).
Highlight this week for me was Vauxhall E-Vivaro Life minibuses. We had a healthcare company ask to provide 20 new ones. They were amazed when we offered them less than a year old ones sub 10,000 miles for £21k when the list is close to £40k. How hard is it to find 20 23 registration E-Vivaro Life's?, not very when the trade are selling them for £15-£18k so that was a nice little deal.
If you have money then the last 12 mths have been good, the US and other stock markets have been performing very well, interest rates have also been steady on any cash you have deposited.
This has also driven up pension pots, however those without money and reliant on borrowing are still feeling the pain, so strong demand for lower priced used vehicles is not going away, its the middle that will continue to suffer, those who have decent income but not much savings or investments, who have to balance their outgoings, with their mortgages and pcp deals now more expensive have had to made cut backs somewhere which is often not renewing their pcp deal or going for a cheaper lesser spec model hence why the likes of MG have been doing well.
But if you are retired with a decent pension pot or have invested well the past 12mths you will be sitting on some very nice returns.
This has also driven up pension pots, however those without money and reliant on borrowing are still feeling the pain, so strong demand for lower priced used vehicles is not going away, its the middle that will continue to suffer, those who have decent income but not much savings or investments, who have to balance their outgoings, with their mortgages and pcp deals now more expensive have had to made cut backs somewhere which is often not renewing their pcp deal or going for a cheaper lesser spec model hence why the likes of MG have been doing well.
But if you are retired with a decent pension pot or have invested well the past 12mths you will be sitting on some very nice returns.
Just px’d a very average 4 year old family car.
I was given £16.5K for it and told they’d retail it for £18K.
There’s (at least) a couple of ways to look at that:
1) I received a px of 50% of the OTR list price in 2020
2) The dealer will retail it at 46% of the OTR price of the current MY24 equivelant model
This is broadly similar to the depreciation of previous new cars I’ve bought and traded in. Seems whilst absolute prices are obviously higher, depreciation is pretty similar to pre-COVID.
Of course, if you bought an expensive performance saloon in 2021 and are trying to sell it now that might not be the case!
I was given £16.5K for it and told they’d retail it for £18K.
There’s (at least) a couple of ways to look at that:
1) I received a px of 50% of the OTR list price in 2020
2) The dealer will retail it at 46% of the OTR price of the current MY24 equivelant model
This is broadly similar to the depreciation of previous new cars I’ve bought and traded in. Seems whilst absolute prices are obviously higher, depreciation is pretty similar to pre-COVID.
Of course, if you bought an expensive performance saloon in 2021 and are trying to sell it now that might not be the case!
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