RE: Rocketing secondhand car prices spell good news...

[Biggy Stardust]

Butts1918 said:

I personally believe that Leasing is a better and far cheaper alternative to buying

For you it might be. For others it might not.

[av185]

blade7 said:

av185 said:

dean1057 said:

I bought a 18 month old 997.2 GT3 10 years ago and I'm still way up from what I paid. Just saying.

Smart move but Porsche GTs are a unique and specialised niche market.

I bought a 91 944 turbo 13 years ago, it's now worth over 3 times what I paid for it. Plenty of old pork has done well.

As has new(er) Pork too.

[blade7]

av185 said:

As has new(er) Pork too.

If it has 100k miles on it?

[ashenfie]

Well it had 100k on the clock and now it has 27k

[av185]

blade7 said:

av185 said:

As has new(er) Pork too.

If it has 100k miles on it?

Who mentioned 100k miles.???

Was referring to contemporary Porsche GTs less than 4 years old which are up 25% ££.

[blade7]

av185 said:

Who mentioned 100k miles.???

Was referring to contemporary Porsche GTs less than 4 years old which are up 25% ££.

I did, after you started patting yourself on the back.

[av185]

blade7 said:

av185 said:

Who mentioned 100k miles.???

Was referring to contemporary Porsche GTs less than 4 years old which are up 25% ££.

I did, after you started patting yourself on the back.

[Smint]

The makers learned their lesson around 2008, with compounds stacked out with end of rental/lease cars from the days of never ending overproduction, many sold at ridiculously low prices to recoup something.

They weren't going to let that happen again, but Britain had previously been a country of relatively cheap used cars compared to rest of western europe and RHD helped that happy (for used car buyers) situation, now the vast overstocks have gone and they arn't making new cars in the same unordered volumes supply and demand have evened out so Britain will have to get used to lower rates of depreciation for as long as the car keeps going reliably.

Might find things change somewhat when Rishi's fake money stops flowing and the reality of a deliberately ruined economy hits, especially once interest rates rise including car loans and mortgages double or treble.

[blade7]

Smint said:

mortgages double or treble.

I very much doubt it.

[Griffith4ever]

Something is definitely up with the market.

My mate has a motorbike shop and he's struggling to get any used stock in.

I bought an R8 V10 in Jan and currently you have to pay £10k more to get the same model, same spec, with more miles, and I bought from a dealer (specialist in high performance cars) and not privately.

[Baldchap]

av185 said:

jzma said:

Sure used car prices are up for now - but for how much longer?
When supply chain issues are resolved, low APRs on PCPs introduced and economy back to normal - values will return to normal.

Won't happen for some considerable time probably 2023 at least and used values will stay buoyant thereafter for all the reasons already discussed.

As soon as the furlough scheme ends and companies shed 40% of their staff because they've realised they can run perfectly well on less than they had (I am hearing loads of directors and owners saying this at the moment), there'll be loads of repossessed nearly new stock driving prices down. I reckon it'll be first quarter next year...

[av185]

Baldchap said:

av185 said:

jzma said:

Sure used car prices are up for now - but for how much longer?
When supply chain issues are resolved, low APRs on PCPs introduced and economy back to normal - values will return to normal.

Won't happen for some considerable time probably 2023 at least and used values will stay buoyant thereafter for all the reasons already discussed.

As soon as the furlough scheme ends and companies shed 40% of their staff because they've realised they can run perfectly well on less than they had (I am hearing loads of directors and owners saying this at the moment), there'll be loads of repossessed nearly new stock driving prices down. I reckon it'll be first quarter next year...

Given that the first quarter of any new year invariably shows the strongest demand from used car buyers and the greatest price rises following the inevitable winter Christmas and New Year lull your prediction falls at the first hurdle.

[Mick-umnh9]

A shortage of second hand cars, what about the c50,000 currently vegetating within the disused Rockingham race circuit?
You can't hide them for late release profiteering, we know they are there.

[Mick-umnh9]

A shortage of second hand cars, what about the c50,000 currently vegetating within the disused Rockingham race circuit?
You can't hide them for late release profiteering, we know they are there.

[Butts1918]

anonymous said:

[redacted]

I pay £281 per month for my missus Peug 2008. She does small mileage, but that also includes servicing, tyres and that whole caboodle and we didnt put anything down upfront. PCP terms on that would be much more and I'd have to pay the tax. So deals are decent, especially run of the mill stuff like that.

[anonymous-user]

Selling my Vantage this week, offered nearly 20% more than last year, only an old 2008 one.

13 years old this year and hasn’t had a clutch yet.

Are those people who say their car has increased x in y years taking into account tax, insurance, servicing, etc?

Insurance £700, Tax £580, servicing £500, before turning a wheel!

[KTMsm]

av185 said:

Not really.

Al it is saying is that most used cars still depreciate but at a much lesser rate than before.

Which could make leasing certain cars more attractive and cheaper ££ than before.

If used cars are depreciating LESS how exactly is it now a BETTER time to Lease ?

[av185]

KTMsm said:

av185 said:

Not really.

Al it is saying is that most used cars still depreciate but at a much lesser rate than before.

Which could make leasing certain cars more attractive and cheaper ££ than before.

If used cars are depreciating LESS how exactly is it now a BETTER time to Lease ?

I said MOST used cars and CERTAIN cars will be cheaper than before to lease.

You do know that leasing costs generally are based on residual values.........

[ahenners]

Stopped reading when I saw the often misquoted Paul Getty quote, which seems to have become synonymous with any discussion on leasing cars.

[david-j8694]

ahenners said:

Stopped reading when I saw the often misquoted Paul Getty quote, which seems to have become synonymous with any discussion on leasing cars.

Yeah, the way that quote is flagrantly wheeled out every time someone wants to justify another monthly payment (that never actually ends) is frustrating. I doubt he meant it applicable to the contemporary consumer credit situation, in which people effectively permanently lease an increasing number of personal possessions.