Used car prices staying high for how long?
Discussion
Based on this video on AT https://youtu.be/9ZlBNS4OmaI I am wondering if I should hold off buying anything for 1-2 years or buy now knowing that the residuals are going to be strong on whatever I buy.
Wish I knew the answer. I've gone from 3 cars to 1.
Can't make the decision to buy something else. I don't need more cars but I'd like one - I'm paranoid it'll drop 25% the week after I buy it!!
Gut feeling is they wont drop until the supply of new cars gets back to normal, that won't be anytime soon.
Can't make the decision to buy something else. I don't need more cars but I'd like one - I'm paranoid it'll drop 25% the week after I buy it!!
Gut feeling is they wont drop until the supply of new cars gets back to normal, that won't be anytime soon.
BCA's ownership of WBAC and Cinch, coupled with the private equity investment into Cazoo et al says to me that the current market state is very much intentional, and while it may have been slower to arrive had the pandemic and the chip shortage not occurred, it was going to anyway.
I am inclined to believe it's therefore somewhat permanent too. The UK already had extremely low prices for used cars versus the rest of the world - that couldn't go on forever.
I am inclined to believe it's therefore somewhat permanent too. The UK already had extremely low prices for used cars versus the rest of the world - that couldn't go on forever.
shiversaint said:
BCA's ownership of WBAC and Cinch, coupled with the private equity investment into Cazoo et al says to me that the current market state is very much intentional, and while it may have been slower to arrive had the pandemic and the chip shortage not occurred, it was going to anyway.
I am inclined to believe it's therefore somewhat permanent too. The UK already had extremely low prices for used cars versus the rest of the world - that couldn't go on forever.
I think your point is good.I am inclined to believe it's therefore somewhat permanent too. The UK already had extremely low prices for used cars versus the rest of the world - that couldn't go on forever.
Inflation will also play a part as components will cost more.
As the OP, we are stuck. We were going to buy an Audi under the Armed Forces discount but I can't bring myself to spend that amount of money on an Audi!
I'd rather have a 4 year old Quattroporte and have that V8 noise.
We are going to wait a few months, just until after Christmas. Nothing to lose.
From the small insight into the new car process I feel this is now the norm, I work in the supply chain to a few big Manufacturers and they don't foresee any huge increase in production anytime soon, semi conductors aside they are working to a new normal, they have adjusted capacities to suit and wont be in a rush to go back to kicking out the amount pre covid.
Not saying this wont change but in the short to medium term this is how it will be.
My manufacturer scheme car has gone from 8 months or 6k miles to change (re order typically 3k miles) to 15k miles to order regardless of age, some people have been in cars for nearly 2 years which in our place in unheard of.
Not saying this wont change but in the short to medium term this is how it will be.
My manufacturer scheme car has gone from 8 months or 6k miles to change (re order typically 3k miles) to 15k miles to order regardless of age, some people have been in cars for nearly 2 years which in our place in unheard of.
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