Secondhand car price crash?
Discussion
soupdragon1 said:
Deep Thought said:
I know salesmen seem to get a bad rep for being disinterested but i was quite impressed by this....
A few clicks on facebook on a local dealers advert took me to their website. Charles Hurst - CUPRA. They'd a "whats your car worth" type section so i thought i'd plug mine in just to see where they were relative to WBAC and HPI. More of a curiosity as to where they would pitch. Of course they asked for the obligatory Name, email and phone number which i plugged in. Again just out of curiosity as to see how it would be handled.
Surprisingly - even though i'd been led to believe it was a "click and sell" type valuation service it came up "thank you for your interest in CUPRA Born we will be in touch shortly".
Fair enough.
This morning, 09:40, missed call from them. 10:02 text message and email from the salesman with a link to a "personalised video". Proper 3 minute walk around of a Born in their showroom by the salesman, mentioned me and my car during the video, invite to come down and test drive.
Yes, no doubt the junior salesman and hes obliged to do it daily but it was all pretty efficient and pro-active.
Charles Hurst have just been bought over in case you didn't know, so the staff will be ontender hooks right now, as redundancies are possible so that might put them into shape. Plus that Cupra dealership is a new showroom, taking over from the old Vauxhall showroom so they'll be wanting to impress their customers right now I would think.A few clicks on facebook on a local dealers advert took me to their website. Charles Hurst - CUPRA. They'd a "whats your car worth" type section so i thought i'd plug mine in just to see where they were relative to WBAC and HPI. More of a curiosity as to where they would pitch. Of course they asked for the obligatory Name, email and phone number which i plugged in. Again just out of curiosity as to see how it would be handled.
Surprisingly - even though i'd been led to believe it was a "click and sell" type valuation service it came up "thank you for your interest in CUPRA Born we will be in touch shortly".
Fair enough.
This morning, 09:40, missed call from them. 10:02 text message and email from the salesman with a link to a "personalised video". Proper 3 minute walk around of a Born in their showroom by the salesman, mentioned me and my car during the video, invite to come down and test drive.
Yes, no doubt the junior salesman and hes obliged to do it daily but it was all pretty efficient and pro-active.
Boleros said:
lord trumpton said:
Dingle Dell said:
I could care less, and these comments don't pass mustard as to all intensive purposes, we all new what was really meant, so it's a mute point
It's 'moot' point you pleb 
I'm feeling a bit peckish...now where is that humble pie
JNW1 said:
Interesting! I'm pretty sure an EV would work for us given we could charge at home and seldom do a high daily mileage nowadays; however, I can't say I find the prospect of an iPad on wheels a particularly attractive one and hence I suspect I'll end-up sticking with an ICE car for a little while longer!
Try a decent one and you might be surprised. We are 3 years in - after a varied and interesting collection of ICE - and are never going back. Nothing, £ for £, gets close to an EV for speed, refinement and relaxation as a daily driver. And if you buy a decent one they can be fun to drive too. I have learned over the years that it's driving that I love - anything from a tractor to a GT3 - rather than a particular propulsion unit.
But we do have a 911 and a 2CV in the garage too
JNW1 said:
I think your final sentence says it all! Most of the "car people" I've come across who've made the move to an EV as their daily driver seem to have also retained an ICE car as a fun vehicle and if I had the funds and garaging/parking space that's almost certainly what I'd do as well. However, I don't and it's moving to one as our only car that I'm less convinced about.
But out of interest which of the current crop of EV's would you regard as decent and fun to drive? Unlikely I'd be looking at a brand new one but given the way secondhand EV values have been going recently I could be tempted to one of those if something decent was available at around the £30k level. A Tesla Model 3 is in many ways the obvious choice but personally I detest their reliance on the touchscreen and for that reason wouldn't be keen to go that route...
At around 30k it has to be a 2-3 year old iPace (if you hunt around). I have never driven a Jaguar before (put off by the image to be honest) but the iPace is very good. And very quick. I have a dog so need a hatchback / estate (my previous cars were a B9 RS4 and C7 RS6). I tried the Taycan ST/CT but they weren't good enough to justify the extra money. But out of interest which of the current crop of EV's would you regard as decent and fun to drive? Unlikely I'd be looking at a brand new one but given the way secondhand EV values have been going recently I could be tempted to one of those if something decent was available at around the £30k level. A Tesla Model 3 is in many ways the obvious choice but personally I detest their reliance on the touchscreen and for that reason wouldn't be keen to go that route...
And iPaces are very cheap at the moment. Mine has been faultless, but best run under proper manufacturer warranty.
As for smaller daily, we went i3. I know it looks funny but it's a hoot to drive. Just swapped out 3 year old normal version for one of the last i3s (an S) to come off the line.
JNW1 said:
Good information, thanks for that!
I also have dogs (and hence a need for a hatchback) and recent cars have been a G21 M340i and an F31 335d. The iPace is something I'd identified as potentially fitting the bill, not least because with the recent price falls a decent one can be had for around the £30k mark (including some from Jaguar dealers which means you get a two year warranty plus they'll pay for a charger to be installed at your home).
I know at least a couple of people on Bimmerpost who have migrated from BMW's to an iPace and they (like you) seem very pleased with their decision. However, I've also seen other comments to the effect they're cheap secondhand for a reason (i.e. they have lots of known potential problems) and hence the advice is not to touch one with a bargepole. I guess the answer is if I do decide to make a change I'll have a look and drive in one and draw my own conclusion!
They are just suffering the same depreciation as all EVs at the moment. Good time to buy possibly... Well better than when I bought in 22 anyway I also have dogs (and hence a need for a hatchback) and recent cars have been a G21 M340i and an F31 335d. The iPace is something I'd identified as potentially fitting the bill, not least because with the recent price falls a decent one can be had for around the £30k mark (including some from Jaguar dealers which means you get a two year warranty plus they'll pay for a charger to be installed at your home).
I know at least a couple of people on Bimmerpost who have migrated from BMW's to an iPace and they (like you) seem very pleased with their decision. However, I've also seen other comments to the effect they're cheap secondhand for a reason (i.e. they have lots of known potential problems) and hence the advice is not to touch one with a bargepole. I guess the answer is if I do decide to make a change I'll have a look and drive in one and draw my own conclusion!
I can't speak for all iPaces but well put together (as you expect from Magna Steyr who build them for JLR) and faultless so far (kiss of death). Up there with my RS6 for build and perceived quality.
Deep Thought said:
JaredVannett said:
God these M2C prices are tempting!
Last time i checked it was possible to get an Approved Used 2020 M2 Comp, metallic paint, both packs, low miles for £34,495. I'm sure thats been snapped up but there have been several sub £35K cars of the year and spec available from main dealers. Thats crazy cheap.Havent really checked older cars much but 2018 cars but had a quick cursory check there and its possible to get a 2018 car for around £31K ish from a dealer.
Sweet spot for me would be the 2020 car, if someones budget can stretch the bit extra.
scot_aln said:
Scottie - NW said:
lord trumpton said:
Im trying to sell what was once a very easy car to shfift
A BMW F31(estate) 335d Msport. Good spec, FBMWSH, minter etc. Up for 15k and not a f
king sniff except from some bradford driveway trade bruv.
Definitely a slooow market.
I think they are starting to look old now. Also I think with higher prices people are more reluctant to spend a lot if the mileage is high.A BMW F31(estate) 335d Msport. Good spec, FBMWSH, minter etc. Up for 15k and not a f
king sniff except from some bradford driveway trade bruv.Definitely a slooow market.
My bemusement is 6 months ago they sold really well indeed
It seems the American YouTubers who were predicting a used car price crash for the last couple of months are starting to change their tune now.
Seems like he is now convinced there are a lot of people waiting for prices to fall, and if they do they will start buying cars propping up the market.
As others have said, anything under £10K seems to be attracting high bids at auction, to the point where there is no real profit for dealers so prices must go up?.
Apart from the froth being blown off the expensive executive and sports car I just cannot see a massive crash in prices of everyday cars.
Seems like he is now convinced there are a lot of people waiting for prices to fall, and if they do they will start buying cars propping up the market.
As others have said, anything under £10K seems to be attracting high bids at auction, to the point where there is no real profit for dealers so prices must go up?.
Apart from the froth being blown off the expensive executive and sports car I just cannot see a massive crash in prices of everyday cars.
Louis Balfour said:
Since Christmas, it has been heart-warming the number of prestige car dealers that have been calling me to see how I am.
I've also had calls from finance brokers.
It gives me a warm feeling that these people are taking time out to check on my welfare, when they must be busy doing other things.
Damn. I thought it was just me…I've also had calls from finance brokers.
It gives me a warm feeling that these people are taking time out to check on my welfare, when they must be busy doing other things.
Cost of living getting worse guys, reported on the news this morning that 40% of all adults have less than £2k in savings and investments and that more people than ever are now struggling with bills, rent, and making ends meet. The percentage of Brits with no money left at the end of the month has risen sharply (doubled) from 11 per cent in 2022, to 21 per cent in 2023.
So things are getting worse, and a significant percentage have not even yet felt mortgage pain as most people have yet to renew their current deals, at higher rates. Effects renters to if landlords need to raise rents to cover increased mortgage interest payments.
In this climate, who on earth is going to be paying chunky sums on PCP or lease deals? It is all looking very unsustainable at current price points. Feeling very crashy crashy to me.
So things are getting worse, and a significant percentage have not even yet felt mortgage pain as most people have yet to renew their current deals, at higher rates. Effects renters to if landlords need to raise rents to cover increased mortgage interest payments.
In this climate, who on earth is going to be paying chunky sums on PCP or lease deals? It is all looking very unsustainable at current price points. Feeling very crashy crashy to me.
nickfrog said:
D.S. said:
In this climate, who on earth is going to be paying chunky sums on PCP or lease deals? It is all looking very unsustainable at current price points. Feeling very crashy crashy to me.
Perhaps some people will switch to used cars rather than new.Perhaps a lot more people will also just stick with or drive/fix what they have currently got - as evidenced in the cycle market. Not many new bikes being sold at the moment and used bike prices have taken a massive nosedive. Retailers and bike manufacturers are having a very tough time of it and many are going bump, with Orange bikes and Chain Reaction/Wiggle being the most high profile victims so far.
Mr Whippy said:
I’ll admit my ability to spend without too much concern is gone.
My income has dropped in real terms and outgoings have shot up.
But some people have done very well from the last four years. Seemingly at everyone else’s expense.
But they’re sufficient in number to keep the elephant in the room ignored… for now… with their outsized spending.
Yes, but there are only so manyMy income has dropped in real terms and outgoings have shot up.
But some people have done very well from the last four years. Seemingly at everyone else’s expense.
But they’re sufficient in number to keep the elephant in the room ignored… for now… with their outsized spending.
I know a surprising number of people who seem rich on the outside (big house, flash SUV etc), but beneath the surface are hugely exposed through their mortgage, vehicle and other debt. A good friend of mine has been in his large house since 2003 and despite earning well, I was surprised to hear he still had a large mortgage on it. He seems to have kept re-mortgaging to fund their lifestyle. He is rather worried at present due to no bonus at work this year.
I've always taken the opposite approach. Buy nice things sure, but never overstretch myself and seek good value in all purchases - i.e. buying a lightly used 4-5 year old 911 rather than a new one. Mortgage was paid off in just 8 years while much of our spare cash since has been invested through various funds which are now generating enough income/returns that we could retire and live off this if we wanted. Not trying to brag, just interesting the difference in the 'must have now' vs a bit of prudence and longer term thinking approach.
bencollins4 said:
trumpton7291 said:
bencollins4 said:
We don’t need real-world insights from experienced dealers here,
Would not an 'experienced dealer' or perhaps indeed anyone connected with selling cars have a vested interest to continually talk up the market?Gassing Station | Car Buying | Top of Page | What's New | My Stuff