What's the deal with used car pricing?
Discussion
I've was looking at replacing my car around Jan / Feb 2020 and I have a budget of around £35-45k.
I was looking at 981CS/GTS, 997 GTS, Lotus Exige V6S/350, Audi R8 and a few others
With everything going on with the pandemic i thought I'd hold fire and see how things look when we come out of lockdown, now things are starting to relax i've been looking at the same cars and they all seem to be around 5-10k more expensive
Mid mileage 981S Cayman's used to be around 28-32k now they all seem to be around 35-40k, I've seen some 981 GTS's around at 44-45k now they all seem to be around 50+, R8's were hanging around 34-37 now they all seem to be around 40-48k. Same story with the 997GTS, one was up for 48k that was in lovely shape now i can't see anything decent under 55k
Is it going that way because we are moving closer to electric and these hot performance cars are the last of a dying breed so command more money or is there another practical reason?
interested to hear your take on it..
I was looking at 981CS/GTS, 997 GTS, Lotus Exige V6S/350, Audi R8 and a few others
With everything going on with the pandemic i thought I'd hold fire and see how things look when we come out of lockdown, now things are starting to relax i've been looking at the same cars and they all seem to be around 5-10k more expensive
Mid mileage 981S Cayman's used to be around 28-32k now they all seem to be around 35-40k, I've seen some 981 GTS's around at 44-45k now they all seem to be around 50+, R8's were hanging around 34-37 now they all seem to be around 40-48k. Same story with the 997GTS, one was up for 48k that was in lovely shape now i can't see anything decent under 55k
Is it going that way because we are moving closer to electric and these hot performance cars are the last of a dying breed so command more money or is there another practical reason?
interested to hear your take on it..
Lack of computer chips throughout the world has mean a shortage for the motor industry. This has resulted in a reduce production of new cars. Less new cars sold means less used cars available and thus demand increases as does the price.
That and I wonder if a few people are jumping on the band wagon and snapping these type off cars up as an investment. Hoping they will continue to increase in value.
Just my 2p worth.
That and I wonder if a few people are jumping on the band wagon and snapping these type off cars up as an investment. Hoping they will continue to increase in value.
Just my 2p worth.
MB140 said:
Lack of computer chips throughout the world has mean a shortage for the motor industry. This has resulted in a reduce production of new cars. Less new cars sold means less used cars available and thus demand increases as does the price.
That and I wonder if a few people are jumping on the band wagon and snapping these type off cars up as an investment. Hoping they will continue to increase in value.
Just my 2p worth.
So I don’t think the chip shortage has had enough time to affect used stock availability. There’s certainly plenty of issues with some cars missing features or even production stopping altogether in some factories. People are then looking at used instead of new so used demand is up as new supply lowers.That and I wonder if a few people are jumping on the band wagon and snapping these type off cars up as an investment. Hoping they will continue to increase in value.
Just my 2p worth.
There's already threads running on this. Fleets delayed buying new cars due to covid, some factories closed in first lockdown, now chip and transponder shortages stopping new production.
all when there is good demand now for people looking for new cars, often with a good deposit due to cancelled holidays or money saved from not eating out etc.
Guy I know who owns dealerships expecting used prices to rise for a few months still.
all when there is good demand now for people looking for new cars, often with a good deposit due to cancelled holidays or money saved from not eating out etc.
Guy I know who owns dealerships expecting used prices to rise for a few months still.
Used values definitely on the rise I have been toying with the idea of letting my weekend car go as just not been getting the use out of it, went on WBAC couple of weeks ago they made a strong bid checked again yesterday gone up £700! Will leave it another couple of weeks & I could be in profit!
It's a mixture of things.
Sports car market is strong as many people have saved a lot over the past year with work from home and also have more free time so nice second cars are in the reach of more people than usual.
For the rest of the market BCA and their subsidiaries have a very strong hold of the market and can control the pricing and influx of cars to the second hand market.
Semi conductor shortages and strangling supply of new cars across nearly all mass manufacturers, which is firming up the pricing for fairly new cars.
Now is not really time to buy in my opinion, but I am usually wrong!
Sports car market is strong as many people have saved a lot over the past year with work from home and also have more free time so nice second cars are in the reach of more people than usual.
For the rest of the market BCA and their subsidiaries have a very strong hold of the market and can control the pricing and influx of cars to the second hand market.
Semi conductor shortages and strangling supply of new cars across nearly all mass manufacturers, which is firming up the pricing for fairly new cars.
Now is not really time to buy in my opinion, but I am usually wrong!
sherman said:
Supply and demand.
People didnt get to drive their weekend car last year so are holding on to them to get full enjoyment this year.
Yes and the fact that people have been put off from using public transport, others will have been browsing ads more, as a result of lockdown boredom.People didnt get to drive their weekend car last year so are holding on to them to get full enjoyment this year.
It's certainly a mixture of things, most of which has already been said.
I work for a subsidiary of a manufacturer, normal times we all get a car every 6k miles, most of us have 2 (one for the wife) as they are insured taxed etc we have been told we can't order and need to hold onto what we are in for the near future, this means the used supply to dealers has instantly dried up for quite a lot of cars. Ive had my wife's replacement on order since march and it's still not scheduled to build yet, normally we see them in 4 to 6 weeks.
Loans and self employed grants, friends of ours in the last month have bought a transporter and an X3 as they are both SE and claimed all grants and worked for most of it, combine they with a cancelled holiday, lots of people in the same position, there is yet another grant to come on August apparently.
BCA seem to have got all the used stock and these new online companies are either connected or owned by cash rich companies and are hoarding cars.
Commercial vehicles are even more in demand, lots of plants are looking at 2022 to get back on track.
I personally think we are in this for a good while yet.
I work for a subsidiary of a manufacturer, normal times we all get a car every 6k miles, most of us have 2 (one for the wife) as they are insured taxed etc we have been told we can't order and need to hold onto what we are in for the near future, this means the used supply to dealers has instantly dried up for quite a lot of cars. Ive had my wife's replacement on order since march and it's still not scheduled to build yet, normally we see them in 4 to 6 weeks.
Loans and self employed grants, friends of ours in the last month have bought a transporter and an X3 as they are both SE and claimed all grants and worked for most of it, combine they with a cancelled holiday, lots of people in the same position, there is yet another grant to come on August apparently.
BCA seem to have got all the used stock and these new online companies are either connected or owned by cash rich companies and are hoarding cars.
Commercial vehicles are even more in demand, lots of plants are looking at 2022 to get back on track.
I personally think we are in this for a good while yet.
In March my trusty shed went to the afterlife and was looking at V40's, Leon's and Golfs along with a few others to replace it. I ended up buying a 3 yr old Golf from a main dealer, used approved. The dealer would not budge on price but waived the 'delivery charge'.
Ive had a few of those moments thinking did I pay too much but....looked recently at the same models/age/mileage and the prices are crazy, have gone up a fair bit from March and you wonder when things will settle down.
Ive had a few of those moments thinking did I pay too much but....looked recently at the same models/age/mileage and the prices are crazy, have gone up a fair bit from March and you wonder when things will settle down.
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