Will Coronavirus hit used car prices? (Vol 2)
Discussion
nickfrog said:
sutts said:
nickfrog said:
Crazy, isn't it. We bought a mint Clio RS200 on 36k miles for £6,600 a few weeks ago and I accepted that we probably paid a bit too much but now I am not even sure...
I think you did really well there. I’m looking for a really good RS200 with Cup pack and anything with around 50-60,000 miles appears to be £8k and upwards. Would love to hear more about yours.We thought we preferred a Cup, particularly as it's a Dad+son project (he did pay half) and we will track it but in retrospect I am glad we went for non Cup. It handles beautifully as it is and is just firm enough for the road.
It will need work though despite being mint cosmetically. Rad support shows rust as expected and the wheels need refurbing.
EC123 said:
Man, I bought my 2009 cup pack RS200 with 35k FSH in May 2015 for £6,500.
That's good to hear although my son was 14 then! I guess you're not on 35k miles any longer either. I think they were undervalued already then. Ours has already gone up £500 in the 3 weeks we've had it. nickfrog said:
EC123 said:
Man, I bought my 2009 cup pack RS200 with 35k FSH in May 2015 for £6,500.
That's good to hear although my son was 14 then! I guess you're not on 35k miles any longer either. I think they were undervalued already then. Ours has already gone up £500 in the 3 weeks we've had it. FYI my back brakes have stuck on three times chewing brakes apart.
So clean them regularly.
West17 said:
My car seems to be bucking the trend!
I’ve been tracking the WBAC price of my 2017 Mitsubishi Shogun SG5 which seems to have dropped £1500 in two weeks. But the few SG5s that are currently on the market seemed to have moved up significantly in price.
Perhaps too niche a car for WBAC.
It's possible that the fact that Mitsubishi are packing up and leaving the country over the next few months may be exerting a downwards pressure on values of nearly-new ones - concerns of a dwindling dealer network etc.I’ve been tracking the WBAC price of my 2017 Mitsubishi Shogun SG5 which seems to have dropped £1500 in two weeks. But the few SG5s that are currently on the market seemed to have moved up significantly in price.
Perhaps too niche a car for WBAC.
Tomm3 said:
This thread reminds me of all the "my house is worth....." comments in the early boom years. Very Daily Mail.
Ps....my Z4 has gone up too
I don't see it as bragging. It's useful insight.Ps....my Z4 has gone up too
We all know that car values have gone up in the last few months, but it's interesting to see real examples of what has gone up and by how much. The changes in supply and demand have affected some types of cars more than others.
Deep Thought said:
Tomm3 said:
This thread reminds me of all the "my house is worth....." comments in the early boom years. Very Daily Mail.
Ps....my Z4 has gone up too
Yeah though you sort of "expect" your house to go up in value. Typical every day cars going up in value is another thing altogether.Ps....my Z4 has gone up too
By the time you add margin etc to your pretty much back to what they cost new. Crazy times.
This raises an interesting point as to what is going to happen when sales of new diesel and petrol cars are banned in 2030. I suspect we are going to see prices go absolutely crazy as the supply will end and there will not be any new cars produced.
It's only eight and a half years away, will we see people start to hoard cars in the near future and prices go even crazier?
I have a feeling the days of scrapping a car because it needs a clutch and just buying a new car will be coming to an end soon. With the crazy prices being paid for scrap cars, are companies starting to hoard the parts as they know they will be worth a fortune in the coming years?
Even if supply does get back to normal in a few years I think prices will increase again once people start to realise 2030 isn't as far away as they thought.
It's only eight and a half years away, will we see people start to hoard cars in the near future and prices go even crazier?
I have a feeling the days of scrapping a car because it needs a clutch and just buying a new car will be coming to an end soon. With the crazy prices being paid for scrap cars, are companies starting to hoard the parts as they know they will be worth a fortune in the coming years?
Even if supply does get back to normal in a few years I think prices will increase again once people start to realise 2030 isn't as far away as they thought.
Joey Deacon said:
This raises an interesting point as to what is going to happen when sales of new diesel and petrol cars are banned in 2030. I suspect we are going to see prices go absolutely crazy as the supply will end and there will not be any new cars produced.
It's only eight and a half years away, will we see people start to hoard cars in the near future and prices go even crazier?
I have a feeling the days of scrapping a car because it needs a clutch and just buying a new car will be coming to an end soon. With the crazy prices being paid for scrap cars, are companies starting to hoard the parts as they know they will be worth a fortune in the coming years?
Even if supply does get back to normal in a few years I think prices will increase again once people start to realise 2030 isn't as far away as they thought.
The development of alternative fuels for ICE cars will have a significant bearing on this and many manufacturers are spending billions ££ in this area. It's only eight and a half years away, will we see people start to hoard cars in the near future and prices go even crazier?
I have a feeling the days of scrapping a car because it needs a clutch and just buying a new car will be coming to an end soon. With the crazy prices being paid for scrap cars, are companies starting to hoard the parts as they know they will be worth a fortune in the coming years?
Even if supply does get back to normal in a few years I think prices will increase again once people start to realise 2030 isn't as far away as they thought.
Agree there will be a huge uplift pricewise ££ on particularly late reg used petrol and diesel cars approaching 2030 due to reduced supply.
Sales of new petrol and diesel engined cars may be banned from 2030 but alternative fuel ICE sales will take over and rightly so offer a much better alternative than diluted EVs to car enthusiasts and many of the current EVangelists.
Edited by av185 on Tuesday 6th July 10:44
Edited by av185 on Tuesday 6th July 10:45
av185 said:
The development of alternative fuels for ICE cars will have a significant bearing on this and many manufacturers are spending billions ££ in this area.
Agree there will be a huge uplift pricewise ££ on particularly late reg used petrol and diesel cars approaching 2030 due to reduced supply.
Sales of new petrol and diesel engined cars may be banned from 2030 but alternative fuel ICE sales will take over and rightly so offer a much better alternative than diluted EVs to car enthusiasts and many of the current EVangelists.
I think there are a lot of people who won't be able to run an EV purely as they won't be able to charge them. I know everyone on Pistonheads lives in a £2 million detached house in Surrey with a massive drive, several garages and can easily afford to spend £50K on a daily EV while keeping the McLaren for the weekend. But the reality is not everyone lives in the burbs with off street parking, a lot of people live in flats or have to park in the street. How are they supposed to charge an EV?Agree there will be a huge uplift pricewise ££ on particularly late reg used petrol and diesel cars approaching 2030 due to reduced supply.
Sales of new petrol and diesel engined cars may be banned from 2030 but alternative fuel ICE sales will take over and rightly so offer a much better alternative than diluted EVs to car enthusiasts and many of the current EVangelists.
Plus there are an awful lot of people out there who simply can't afford to spend £35K on a Hyundai eNero so they won't have any choice but to still run an older ICE car.
As I said, people who need to run an ICE car due to budget or where they live will find prices are going to only go up the closer we get to 2030.
Joey Deacon said:
av185 said:
The development of alternative fuels for ICE cars will have a significant bearing on this and many manufacturers are spending billions ££ in this area.
Agree there will be a huge uplift pricewise ££ on particularly late reg used petrol and diesel cars approaching 2030 due to reduced supply.
Sales of new petrol and diesel engined cars may be banned from 2030 but alternative fuel ICE sales will take over and rightly so offer a much better alternative than diluted EVs to car enthusiasts and many of the current EVangelists.
I think there are a lot of people who won't be able to run an EV purely as they won't be able to charge them. I know everyone on Pistonheads lives in a £2 million detached house in Surrey with a massive drive, several garages and can easily afford to spend £50K on a daily EV while keeping the McLaren for the weekend. But the reality is not everyone lives in the burbs with off street parking, a lot of people live in flats or have to park in the street. How are they supposed to charge an EV?Agree there will be a huge uplift pricewise ££ on particularly late reg used petrol and diesel cars approaching 2030 due to reduced supply.
Sales of new petrol and diesel engined cars may be banned from 2030 but alternative fuel ICE sales will take over and rightly so offer a much better alternative than diluted EVs to car enthusiasts and many of the current EVangelists.
Plus there are an awful lot of people out there who simply can't afford to spend £35K on a Hyundai eNero so they won't have any choice but to still run an older ICE car.
As I said, people who need to run an ICE car due to budget or where they live will find prices are going to only go up the closer we get to 2030.
It won't do for everyone. But it'll do for nearly everyone.
SpeckledJim said:
A Nissan Leaf is £6,000 now. By 2030 it'll be, what, £3k? And by 2030 there will be an enormous range of places to charge it.
It won't do for everyone. But it'll do for nearly everyone.
But potentially at that age the battery will be mostly knackered and total range will be unusable? It won't do for everyone. But it'll do for nearly everyone.
sly fox said:
SpeckledJim said:
A Nissan Leaf is £6,000 now. By 2030 it'll be, what, £3k? And by 2030 there will be an enormous range of places to charge it.
It won't do for everyone. But it'll do for nearly everyone.
But potentially at that age the battery will be mostly knackered and total range will be unusable? It won't do for everyone. But it'll do for nearly everyone.
Also don't underestimate how much it costs to use public chargers, you are looking at around 35p per KWH. Plus, who wants to wait around for hours while their car recharges? Unless you can charge at home then I can see an EV being a massive pain.
sly fox said:
But potentially at that age the battery will be mostly knackered and total range will be unusable?
Unless replaced of course? I guess battery replacement is a new service we'll see more of in the future... Shame each car doesn't just use standardise the type of battery where you could drive into a forecourt, swap it over and drive out (with a monthly subscription). Of course I understand why... competitive advantage, technology they don't want to share / makes there's better.Joey Deacon said:
Unless you can charge at home then I can see an EV being a massive pain.
This. Forget battery life (which is a real issue at the bottom end of the car market where people typically run 8/10/15 year old cars on a shoestring and they still work), this is the issue which will polarise (pun intended) the country.There are tens of millions of people in the country who don't have off-road parking, and even where they do it may be an allocated space or a space "en bloc", rather than a driveway.
How are they going to effectively run an EV?
- Charge at work? Yeah, right...because a site with say 200 employees is going to pay to install 200 chargers across a car-park, are they? And what about those who have to park in a public car park, or at a station?
- Use public charging points? Hmmm...let's say that a decent charge drops down to 15 minutes duration. vs 2 minutes to FILL a petrol/diesel tank. And we've all been stuck in a queue at the petrol station at the wrong time of day. So how much worse is it going to be when (say) 50% of the population need to recharge, each one of which will take 7x as long or more?
- Run a cable out of their house and across the pavement? How long before someone vandalises it, or trips on it and sues? Because that WILL happen...we know what society is like now...
...if only all the manufacturers had got together to use the same battery systems, then perhaps a world wide standard could be used,, then perhaps you could get worldwide "stations" where you pull up a battery gets pulled out, another one put in already charged within a few mins, no need to charge at home at all, you pay at a terminal outside or get your milk and pay inside , and then drive away - but this concept is totally new and foreign to the world.
oh no wait.....
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