Secondhand car price crash? (Vol. 2)
Discussion
Auto810graphy said:
Being green it’s probably a Mokka EV. These are around £15k in the trade under a year old / 5,000 miles.
Yes.it was, in Ultimate spec, which is range topping. Take it today and we might give you an enhanced PX price too they said. Then they gave kiddo a PX price below WBAC despite a massive sticker saying "we guarantee we'll pay more than WBAC".
They also made her sign this thing to say she knew they might get a commission on finance. Bit late, and no detail as to what commission, but I assume that's some pathetic attempt to arse cover given recent news.
She'll now buy the Focus Vignale she thought she wanted, the whole VX experience leaving us all cold.
The price of the Ford has come down 15% in the time she's faffed looking, which is less than the % drop on her PX, but she'll still be "up" overall on the deal (or the cost to change will be less than it would have been at Xmas when she first started looking). So no crash, but actually quite sharp depreciation in that timeframe.
Sheepshanks said:
ChrisH72 said:
It’s yet another EV where surely the only people getting them new are Motabilty users, so the price is irrelevant. Hitch said:
I don't know. Lots of people jumped into electric Mokkas and Corsas during the petrol price hype of 2022. Imagine paying nearly £30k for a Corsa and getting bid £10k on it now. Must be a lot of finance deals being handed back as soon as it is possible to do so.
Looked at a YouTube long term review of Mokka-e and many of the comments were from people who said they’d ordered using Motability.More generally, I don’t know what kind of numbers of EVs Motability are shifting, but if it’s significant then it could be dumping a hefty number of 3yr old EVs into the market. That could be good news for people looking for used EVs. Possibly bad news for people wanting to buy new due to the effect on residuals.
I know there’s no VAT, but Motability pricing / deal is amazing vs what’s generally available. Shows what manufacturers can do if they want to.
Sheepshanks said:
For sale at an indie dealer, a year old with 300 miles and one key - what's likely to be the story there?
Will be ex Motability, there are and still are lots around. We did really well with the first E-Corsa Ultimates, paying £13-14k last year and putting them straight up for just under £20k and selling them in days. Main dealers were still asking £28k for demos. Problem now is trade values gone up and retails gone down.
What's really interesting for used EVs is the price compression between years.
I have an ID3 family. Cheapest 2020 one below 25k miles is £18.5k
However, spend £2k more and you get a 2023 with 10k miles less. That's not to mention the upgraded interior and software capability.
That price delta just doesn't make any sense. There are many examples of other cars too.
If you could hang your hat on that continuing, a 1 year old EV won't depreciate much at all in your ownership, plus, you're under warranty.
But, surely this price distortion will find some sort of balance somewhere down the line?
I have an ID3 family. Cheapest 2020 one below 25k miles is £18.5k
However, spend £2k more and you get a 2023 with 10k miles less. That's not to mention the upgraded interior and software capability.
That price delta just doesn't make any sense. There are many examples of other cars too.
If you could hang your hat on that continuing, a 1 year old EV won't depreciate much at all in your ownership, plus, you're under warranty.
But, surely this price distortion will find some sort of balance somewhere down the line?
Auto810graphy said:
Will be ex Motability, there are and still are lots around.
We did really well with the first E-Corsa Ultimates, paying £13-14k last year and putting them straight up for just under £20k and selling them in days. Main dealers were still asking £28k for demos. Problem now is trade values gone up and retails gone down.
It seems a bit daft of Vauxhall not to make sure such cars come back to them so as to stop resale prices being bombed.We did really well with the first E-Corsa Ultimates, paying £13-14k last year and putting them straight up for just under £20k and selling them in days. Main dealers were still asking £28k for demos. Problem now is trade values gone up and retails gone down.
I’m keen to get an EV for a family member who’s doing 15K+ yr, mainly a 30 mile each way commute. I wanted to lease or PCP but the mileage bumps the cost up a lot. Buying a nearly new EV for £15K looks like it could be solution, I’m slightly bothered that Mokka does seem very much a Motability car, especially the green ones!
Sheepshanks said:
It seems a bit daft of Vauxhall not to make sure such cars come back to them so as to stop resale prices being bombed.
I’m keen to get an EV for a family member who’s doing 15K+ yr, mainly a 30 mile each way commute. I wanted to lease or PCP but the mileage bumps the cost up a lot. Buying a nearly new EV for £15K looks like it could be solution, I’m slightly bothered that Mokka does seem very much a Motability car, especially the green ones!
Seems to be plenty of Corsa E and Mokka E available at low prices for 1 year old.I’m keen to get an EV for a family member who’s doing 15K+ yr, mainly a 30 mile each way commute. I wanted to lease or PCP but the mileage bumps the cost up a lot. Buying a nearly new EV for £15K looks like it could be solution, I’m slightly bothered that Mokka does seem very much a Motability car, especially the green ones!
http://www.autotrader.co.uk/car-details/2024020964...
Looks okay to me.
Sheepshanks said:
It seems a bit daft of Vauxhall not to make sure such cars come back to them so as to stop resale prices being bombed.
Problem is the manufacturer doesn't want to deal with the issue of them down the line. I know of at least one manufacturers strapping used electric to ICE in their used auctions to try and get dealers to take them. You want 2 or 3 used ICE? No worries, you need to take 1 electric with it otherwise you don't get to take the prime stockThis is wild - if my use case needed a runabout, the price crash on these almost new electric Vauxhalls make them a compelling choice.
I took a quick look and a 2023 with delivery miles for £17,999. Cheap to run and I assume cheap to insure, 5 seats, heated seats and steering wheel, matrix LED headlights, 10 inch nav, 360 reverse camera and all the safety kit. I don't care if people don't want to call it a crash but I don't remember deals like this before.
I took a quick look and a 2023 with delivery miles for £17,999. Cheap to run and I assume cheap to insure, 5 seats, heated seats and steering wheel, matrix LED headlights, 10 inch nav, 360 reverse camera and all the safety kit. I don't care if people don't want to call it a crash but I don't remember deals like this before.
BlackTank said:
This is wild - if my use case needed a runabout, the price crash on these almost new electric Vauxhalls make them a compelling choice.
I took a quick look and a 2023 with delivery miles for £17,999. Cheap to run and I assume cheap to insure, 5 seats, heated seats and steering wheel, matrix LED headlights, 10 inch nav, 360 reverse camera and all the safety kit. I don't care if people don't want to call it a crash but I don't remember deals like this before.
EVs crashed (and represent a very small % of the overall market).I took a quick look and a 2023 with delivery miles for £17,999. Cheap to run and I assume cheap to insure, 5 seats, heated seats and steering wheel, matrix LED headlights, 10 inch nav, 360 reverse camera and all the safety kit. I don't care if people don't want to call it a crash but I don't remember deals like this before.
ICE havent.
Great news if someone can make an EV work.
BlackTank said:
This is wild - if my use case needed a runabout, the price crash on these almost new electric Vauxhalls make them a compelling choice.
I took a quick look and a 2023 with delivery miles for £17,999. Cheap to run and I assume cheap to insure, 5 seats, heated seats and steering wheel, matrix LED headlights, 10 inch nav, 360 reverse camera and all the safety kit. I don't care if people don't want to call it a crash but I don't remember deals like this before.
When they came out of uni I bought my kids brand new "runabouts" for £7K. Doesn't seem many years ago.I took a quick look and a 2023 with delivery miles for £17,999. Cheap to run and I assume cheap to insure, 5 seats, heated seats and steering wheel, matrix LED headlights, 10 inch nav, 360 reverse camera and all the safety kit. I don't care if people don't want to call it a crash but I don't remember deals like this before.
Sheepshanks said:
When they came out of uni I bought my kids brand new "runabouts" for £7K. Doesn't seem many years ago.
An almost new electric vauxhall costing almost £40k new is more than a runabout to most people. Filling that segment soon will be the BYDs just like the Koreans did with the picantos and I10s for the ICE market.Gassing Station | Car Buying | Top of Page | What's New | My Stuff