Secondhand car price crash?

Secondhand car price crash?

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cc3

Original Poster:

2,794 posts

116 months

Monday 7th March 2022
quotequote all
Been looking at a few cars online Porsche BMW etc. shocked when I put the reg into Webuyanycar. £80k retail and some trade prices now £50k! Bottom dropping out of high end petrol hungry market?

av185

18,495 posts

127 months

Monday 7th March 2022
quotequote all
WBAC isn't the market.

Just means they aren't buying a particular car because e.g. they may be fully stocked.

Similarly I could bid £5k for a £150k car. Doesn't mean thats its value.

Edited by av185 on Monday 7th March 21:53

Downward

3,545 posts

103 months

Monday 7th March 2022
quotequote all
cc3 said:
Been looking at a few cars online Porsche BMW etc. shocked when I put the reg into Webuyanycar. £80k retail and some trade prices now £50k! Bottom dropping out of high end petrol hungry market?
It’s certainly looking tough for those folks with these type of cars.
Thoughts and prayers are with you all.


cc3

Original Poster:

2,794 posts

116 months

Monday 7th March 2022
quotequote all
av185 said:
WBAC isn't the market.

Just means they aren't buying a particular car because e.g. they may be fully stocked.

Similarly I could bid £5k for a £150k car. Doesn't mean thats its value.

Edited by av185 on Monday 7th March 21:53
Prices on same cars £15k higher last week.

DSLiverpool

14,723 posts

202 months

Monday 7th March 2022
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Hmm I fancied a Grand Cherokee 5.7 as a tip / family wagon - the nice ones sold as soon as listed !!! £600 tax as well.

carinaman

21,273 posts

172 months

Monday 7th March 2022
quotequote all
DSLiverpool said:
Hmm I fancied a Grand Cherokee 5.7 as a tip / family wagon - the nice ones sold as soon as listed !!! £600 tax as well.
Besides being practical for the Covid-19 Zombie Apocalypse they can also tow Russian tanks.

av185

18,495 posts

127 months

Monday 7th March 2022
quotequote all
cc3 said:
av185 said:
WBAC isn't the market.

Just means they aren't buying a particular car because e.g. they may be fully stocked.

Similarly I could bid £5k for a £150k car. Doesn't mean thats its value.

Edited by av185 on Monday 7th March 21:53
Prices on same cars £15k higher last week.
And yet strangely most trade reports confirm both the lower priced and higher priced stuff still selling well at top prices but the £10k to £20k cars are admittedly sticking a touch.

Market is selective typically.

Some stuff up some down ££. Same with different internet buying sites.

MitchT

15,822 posts

209 months

Monday 7th March 2022
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I've been watching F32 BMW 420i coupés for a while - specifically targeting five year old ones in my searches. A while back they were £18k. Recently they've been in the region of £22k. I'm now seeing them start to drop below £20k again.

ChrisH72

2,152 posts

52 months

Monday 7th March 2022
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My prediction is that prices will crash shortly after I buy my next car.

steve2

1,772 posts

218 months

Monday 7th March 2022
quotequote all
ChrisH72 said:
My prediction is that prices will crash shortly after I buy my next car.
Hurry up and buy it so I can start looking seriously 😀

ChrisH72

2,152 posts

52 months

Tuesday 8th March 2022
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steve2 said:
ChrisH72 said:
My prediction is that prices will crash shortly after I buy my next car.
Hurry up and buy it so I can start looking seriously ??
Can't, I'm too scared.

Every time I find a car I like I put the reg into wbac and find out to my horror it's already worth thousands less than I'd be paying. Weird.

cerb4.5lee

30,408 posts

180 months

Tuesday 8th March 2022
quotequote all
MitchT said:
I've been watching F32 BMW 420i coupés for a while - specifically targeting five year old ones in my searches. A while back they were £18k. Recently they've been in the region of £22k. I'm now seeing them start to drop below £20k again.
I've started to notice this as well. I've lost about £6k on the F82 M4 from what I paid for it a year ago now, but there was a time where I could've got more than I actually paid for it though. The values definitely seem to be dropping back a bit again.

AyBee

10,522 posts

202 months

Tuesday 8th March 2022
quotequote all
ChrisH72 said:
steve2 said:
ChrisH72 said:
My prediction is that prices will crash shortly after I buy my next car.
Hurry up and buy it so I can start looking seriously ??
Can't, I'm too scared.

Every time I find a car I like I put the reg into wbac and find out to my horror it's already worth thousands less than I'd be paying. Weird.
Obviously! It wouldn't be for sale privately if the seller could get more selling it to WBAC!

Cascade360

11,574 posts

85 months

Tuesday 8th March 2022
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I'm hoping that I'll be able to get a big engined V8 something or other for pennies in the near future, they have been extremely expensive recently!

BertBert

19,013 posts

211 months

Tuesday 8th March 2022
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Cascade360 said:
I'm hoping that I'll be able to get a big engined V8 something or other for pennies in the near future, they have been extremely expensive recently!
It'll be an expensive ornament with no fuel to put in it!

CoupeKid

750 posts

65 months

Tuesday 8th March 2022
quotequote all
It’s an interesting question.

New cars are hard to get hold of so the second hand market has gone mad.

The upcoming cost of living squeeze will lead to people having less spare cash for PCP payments.

Will that lead to a drop in second hand car prices as they become less affordable or will it put up prices at the cash end of the market?

CG2020UK

1,445 posts

40 months

Tuesday 8th March 2022
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Now with how tight most peoples budgets are becoming I can’t see many people dropping money on performance cars or even having the money. Quick look online and I can see plenty of 6 year old M2s, M4s, Rs and S3s sitting at £25-30K and been listed for 120+days (highest it goes to).

I personally know no one in the last 8-12months who has bought a used car they have all been leases or PCP as the deals are better. No one is going to PCP a 6 year old used BMW M4 or RS5 with 60K miles for £450 a month when the can lease a brand new car for £300 a month without the headaches.

I definitely don’t see anyone dropping £30-35K in cash on one as if they have that sort of cash they aren’t look at an aged M4 with no warranty with the new M4 and M3 now out.

Who knows if prices will crash. I suppose all you need is one or two over leveraged dealers who think now is the time to take a small hit to sort out their positions and it becomes a race to clear stock which is only losing value the more it sits.

Only way to know is to compare sales from now to before covid.


DSLiverpool

14,723 posts

202 months

Wednesday 9th March 2022
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Every hemi engineer jeep I go after is sold - they are cheap but I thought £600 tax plus juice would give me options, it doesn’t.
I’m going to hire for a few months see what the market does.

bbob

79 posts

235 months

Wednesday 9th March 2022
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Surely the limited availability of new cars will affect used car supply for a good few years so prices could remain high for some time. My simple view ignoring all the other factors!

av185

18,495 posts

127 months

Wednesday 9th March 2022
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bbob said:
Surely the limited availability of new cars will affect used car supply for a good few years so prices could remain high for some time. My simple view ignoring all the other factors!
Yep very much like it did last year.

Used prices will remain high for a considerable time yet simply because of restricted new cars coming to the market thus throttling used car supplies even more.

The effect on prices is quite clear.
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