Secondhand car price crash?
Discussion
pb8g09 said:
People who have cash will still spend it on home improvements because they believe it is well spent as houses ‘always go up in value’ whereas cars over their lifetime (ignoring this 18month blimp) always decrease. Therefore yes it’s a different industry and different market forces at play. Jesus.
If what you say is correct then it would be very alarming if people are slowing down on home improvements.Edited by Sheepshanks on Saturday 11th June 07:47
joropug said:
The Cardinal said:
Likewise, I went from a 2018 facelift S3 with the digital dash to a pre-facelift RS3 without it and I echo the comment about it making little difference. I miss the wireless charging and superior bluetooth / streaming integration far more.
The basic S3s look , well, basic. Out of curiosity I just revisited Cupras - some nice looking cars and quite a bit cheaper. Plenty of 2018/2019 with digital cockpit for £22k and below. Might test drive one.
Sheepshanks said:
pb8g09 said:
People who have cash will still spend it on home improvements because they believe it is well spent as houses ‘always go up in value’ whereas cars over their lifetime (ignoring this 18month blimp) always decrease. Therefore yes it’s a different industry and different market forces at play. Jesus.
If what you say is correct then it would be very alarming if people are slowing down on home improvements.Edited by Sheepshanks on Saturday 11th June 07:47
joropug said:
The basic S3s look , well, basic.
Out of curiosity I just revisited Cupras - some nice looking cars and quite a bit cheaper. Plenty of 2018/2019 with digital cockpit for £22k and below. Might test drive one.
I have been keeping an eye on these sort of cars as I wouldn't mind any of the three but not at the prices being asked. A loose summary is that for -Out of curiosity I just revisited Cupras - some nice looking cars and quite a bit cheaper. Plenty of 2018/2019 with digital cockpit for £22k and below. Might test drive one.
2019 Seat Leon Cupra Lux 5dr Auto - You are looking at £21k for one with reasonable mileage. Pan roof would be a nice to have option but very few cars have these. These do have leather, electric seats on nearly all examples but none of them have memory on the electric seats. All have digital dash.
2018 VW Golf R 5dr Auto - You are looking at £25k for one with reasonable mileage. Very few of these have leather seats, panoramic roof and even fewer have electric seats. For your extra money here you are getting a better quality interior and 4 wheel drive. All have digital dash.
2018 Audi S3 - You are looking at £26-£28k for one with reasonable mileage and digital dash/virtual cockpit. Most of the more expensive examples have the digital dash, all of them have leather but very few cars have electric seats or pan roof. For your extra money here I'd say you are getting a slightly better quality interior again and more subtle looks.
This seems to be the hierarchy basically, you would assume that as the S3 price starts to drop further it will trickle down to the other two. Saying that Leon Cupra 290 Lux's have definitely been going down somewhat over the last few months. A few months ago it was more like £23k being asked for one with reasonable mileage.
Just my 2p.
I’d avoid pan roof on a used VAG model - I’m sure there’s people who’ll say theirs if fine but if they leak and / or rattle they can be a nightmare. Even on a new one VW is insisting owners pay £160 for a sunroof service.
I’d have expected people who spend £K’s on options would hang on to their car for a few years so makes sense they’re thin on the ground at 3yrs old, and there probably aren’t many optioned up cars in total.
I’d have expected people who spend £K’s on options would hang on to their car for a few years so makes sense they’re thin on the ground at 3yrs old, and there probably aren’t many optioned up cars in total.
Sheepshanks said:
I’d have expected people who spend £K’s on options would hang on to their car for a few years so makes sense they’re thin on the ground at 3yrs old, and there probably aren’t many optioned up cars in total.
This is what I'm finding, I'm close to purchasing a B9 S4 Avant, must have option for me is pan roof, but these are rare as I want one with less than 30k milesjoropug said:
The Cardinal said:
Likewise, I went from a 2018 facelift S3 with the digital dash to a pre-facelift RS3 without it and I echo the comment about it making little difference. I miss the wireless charging and superior bluetooth / streaming integration far more.
The basic S3s look , well, basic. Out of curiosity I just revisited Cupras - some nice looking cars and quite a bit cheaper. Plenty of 2018/2019 with digital cockpit for £22k and below. Might test drive one.
carparkno1 said:
joropug said:
The Cardinal said:
Likewise, I went from a 2018 facelift S3 with the digital dash to a pre-facelift RS3 without it and I echo the comment about it making little difference. I miss the wireless charging and superior bluetooth / streaming integration far more.
The basic S3s look , well, basic. Out of curiosity I just revisited Cupras - some nice looking cars and quite a bit cheaper. Plenty of 2018/2019 with digital cockpit for £22k and below. Might test drive one.
A45s is distorting the graph, they've shot up recently, must be in short supply. Everything else is mostly pointing down.
pb8g09 said:
People who have cash will still spend it on home improvements because they believe it is well spent as houses ‘always go up in value’ whereas cars over their lifetime (ignoring this 18month blimp) always decrease. Therefore yes it’s a different industry and different market forces at play. Jesus.
The most recent data coming out is showing a housing market that is cooling off, they have not said it yet but next year could be negative growth, once you add in 10% inflation then houses will be falling in real terms. That does reduce people's ability to remortgage, if they use savings instead or other loans it just makes things more difficult to buy other things like Cars. People are definitely taking a closer look at their finances and if house prices don't keep rising then it's just another hit on top of the squeeze many are going to feel. 
liner33 said:
SirCarsAllot said:
Westfield going into receivership, a poor forecast for the car market, a contributor?
Crap two years previously likely more to blameLast time I visited Westfield, the workshop had nothing going on.
nick1871 said:
Checked my cars on WBAC this morning and one is down approx 10% from midweek, the other about 15%.. quite a drop!
And both of mine have gone up 2 grand on wbacs quote 2 weeks ago.Edited by nick1871 on Sunday 12th June 08:19
Prices inevitably are going up to meet other countries. The supply is very low from all manufacturers at the moment and this is due to various factors including chip shortage and Ukraine. It won't get better, only worse.
Cars are ballooning in value and you will see this trend continue despite some people saying its a blip. Unfortunately it's no blip, its the way things are going now.
New car prices are rising massively, supply is low and people still want nice things. The World population is still growing and demand increases more every day.
There will be exceptions to every rule but this car value rise is here to stay just like it has for years elesewhere in the World.
Lots of you will disagree currently but look again at this thread in 2 years and you will see I am correct.
Stigrrs said:
And both of mine have gone up 2 grand on wbacs quote 2 weeks ago.
Prices inevitably are going up to meet other countries. The supply is very low from all manufacturers at the moment and this is due to various factors including chip shortage and Ukraine. It won't get better, only worse.
Cars are ballooning in value and you will see this trend continue despite some people saying its a blip. Unfortunately it's no blip, its the way things are going now.
New car prices are rising massively, supply is low and people still want nice things. The World population is still growing and demand increases more every day.
There will be exceptions to every rule but this car value rise is here to stay just like it has for years elesewhere in the World.
Lots of you will disagree currently but look again at this thread in 2 years and you will see I am correct.
The biggest hole in your logic is that your saying it would only impact new cars, but in reality population growth and shortages effect everything from food to energy to housing, electronics and many other everyday items, some of which are classed essential, which when push comes to shove cars are not, keeping a roof over one's head, food in the belly and the lights on would take priority over a highly inflated used or new car. Prices inevitably are going up to meet other countries. The supply is very low from all manufacturers at the moment and this is due to various factors including chip shortage and Ukraine. It won't get better, only worse.
Cars are ballooning in value and you will see this trend continue despite some people saying its a blip. Unfortunately it's no blip, its the way things are going now.
New car prices are rising massively, supply is low and people still want nice things. The World population is still growing and demand increases more every day.
There will be exceptions to every rule but this car value rise is here to stay just like it has for years elesewhere in the World.
Lots of you will disagree currently but look again at this thread in 2 years and you will see I am correct.
So why is it that you believe new mass produced cars that are not unique in any way or are not limited to small number of manufacturers with some secret formula etc can somehow defy everything else and continue this boom uninterrupted, but clothing, food, energy etc will not, because if what you say is right then everything else will also continue to increase at the same rate,. So tell me when fuel hits £3 a litre and annual energy bills £5k a year where people on the same wages are going to get their money to buy a new £50k run of the mill motor.
Don't you just think that the Chinese will come along with a more realistic priced motor that reflects true costs, sell direct to customers and undercut everyone else by thousands, and when everything else is costing so much will be a top seller forcing other manufacturers out of the market.
I am sure other manufacturers will all just sit back and watch this unfold, keep their high priced limited volume vehicles, lay off thousands of factory workers and supply chain jobs.....
Other countries are different markets, different volume, different exchange rates, different customer priorities and view of vehicle ownership. The UK has always had high volume new car sales and quite unique that we drive on the left, that limits the sale outside the UK market somewhat.
This is a very unusual period, and will not doubt have an impact on the market for years to come, but it's now going to change things altogether, when things settle so will the markets, once new supply options are better so will the demand for used stock ease, I am not saying we will ever see pre covid pricing but by the same token this is a bubble and it will deflate the only real question is if it will be slow or it bursts.
Edited by Theoldguard on Sunday 12th June 13:24
Stigrrs said:
And both of mine have gone up 2 grand on wbacs quote 2 weeks ago.
Prices inevitably are going up to meet other countries. The supply is very low from all manufacturers at the moment and this is due to various factors including chip shortage and Ukraine. It won't get better, only worse.
Cars are ballooning in value and you will see this trend continue despite some people saying its a blip. Unfortunately it's no blip, its the way things are going now.
New car prices are rising massively, supply is low and people still want nice things. The World population is still growing and demand increases more every day.
There will be exceptions to every rule but this car value rise is here to stay just like it has for years elesewhere in the World.
Lots of you will disagree currently but look again at this thread in 2 years and you will see I am correct.
Shame you weren't saying this a few weeks ago, there was another chap who used to say exactly the same thing who stopped posting just before you signed up - what a weird coincidence!Prices inevitably are going up to meet other countries. The supply is very low from all manufacturers at the moment and this is due to various factors including chip shortage and Ukraine. It won't get better, only worse.
Cars are ballooning in value and you will see this trend continue despite some people saying its a blip. Unfortunately it's no blip, its the way things are going now.
New car prices are rising massively, supply is low and people still want nice things. The World population is still growing and demand increases more every day.
There will be exceptions to every rule but this car value rise is here to stay just like it has for years elesewhere in the World.
Lots of you will disagree currently but look again at this thread in 2 years and you will see I am correct.
yellowbentines said:
Shame you weren't saying this a few weeks ago, there was another chap who used to say exactly the same thing who stopped posting just before you signed up - what a weird coincidence!
The last guy couldn't help but respond to everyone and keep repeating his same points, I wonder if this guy will do the same. Time will tell....
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