What's going on with the car market?
Discussion
On the hunt for a new car at the moment. Browsing online, there's very little interesting and well specced cars for sale. All the cars you come across are boring spec with a high inflated price.
In particular, after a 435d GC with individual spec. There's plenty of black/whites/greys with very few options on them, but these are selling for strong money despite the lower spec.
Are people keeping hold of the nicer cars for longer?
In particular, after a 435d GC with individual spec. There's plenty of black/whites/greys with very few options on them, but these are selling for strong money despite the lower spec.
Are people keeping hold of the nicer cars for longer?
If you chose options you pay the full cost of them over the PCP or lease term, so you need to *really* want that option to specify it. If you're leasing what was a £40k RRP car for £500 a month a few nice options can easily put £150 - £200 a month on top; you end up wonder will I really get £20 a month of joy out of "ceramic finish on controls" and other dumbass stuff they try and upsell.
The handful of well specified cars you do see might be predominantly private buyers, so they're less likely to make their way onto the used market until they've a few years older than the normal 3 year lease/PCP cycle.
My experience is most cars are bog basic to their trim level with the odd one sporting £700 of options. It's always a nice day to find one somebody has spoffed 15% of the RRP on ticking boxes.
The handful of well specified cars you do see might be predominantly private buyers, so they're less likely to make their way onto the used market until they've a few years older than the normal 3 year lease/PCP cycle.
My experience is most cars are bog basic to their trim level with the odd one sporting £700 of options. It's always a nice day to find one somebody has spoffed 15% of the RRP on ticking boxes.
Edited by anonymous-user on Wednesday 8th March 16:38
aturnick54 said:
On the hunt for a new car at the moment. Browsing online, there's very little interesting and well specced cars for sale. All the cars you come across are boring spec with a high inflated price.
In particular, after a 435d GC with individual spec. There's plenty of black/whites/greys with very few options on them, but these are selling for strong money despite the lower spec.
Are people keeping hold of the nicer cars for longer?
What age of car are you looking at?In particular, after a 435d GC with individual spec. There's plenty of black/whites/greys with very few options on them, but these are selling for strong money despite the lower spec.
Are people keeping hold of the nicer cars for longer?
aturnick54 said:
On the hunt for a new car at the moment. Browsing online, there's very little interesting and well specced cars for sale. All the cars you come across are boring spec with a high inflated price.
In particular, after a 435d GC with individual spec. There's plenty of black/whites/greys with very few options on them, but these are selling for strong money despite the lower spec.
Are people keeping hold of the nicer cars for longer?
I think Covid caused shortages of parts, resulting in fewer options and less tech. I recently saw the Kia Picanto '1' model doesn't even have air conditioning!In particular, after a 435d GC with individual spec. There's plenty of black/whites/greys with very few options on them, but these are selling for strong money despite the lower spec.
Are people keeping hold of the nicer cars for longer?
And during the PCP mania, many people preferred to have a poverty-spec car with a desirable badge to keep monthly payments as low as possible.
Out of interest, what does a car need to have, to be considered 'well specced'?
sunnyb13 said:
why sell your well specced 435d? the M440d costs upwards of £50k for a nearly new one. makes sense just to keep it if theres nothing wrong .
Indeed. I bought my 335d in 2017, with a good discount. Yes, the WBAC price offered now is good compared to the purchase price. However, depreciation is all about the replacement cost for something similar, and those new prices are eye-watering. That’s why people are holding on.RVB said:
I think Covid caused shortages of parts, resulting in fewer options and less tech. I recently saw the Kia Picanto '1' model doesn't even have air conditioning!
And during the PCP mania, many people preferred to have a poverty-spec car with a desirable badge to keep monthly payments as low as possible.
Out of interest, what does a car need to have, to be considered 'well specced'?
Personally I'd look for individual colour and interior, adaptive headlights, (adaptive suspension on an XDrive), Harman Kardon, HUD, folding mirrors, sunroof, heated steering wheel as a minimum.And during the PCP mania, many people preferred to have a poverty-spec car with a desirable badge to keep monthly payments as low as possible.
Out of interest, what does a car need to have, to be considered 'well specced'?
Nice to haves are things like active cruise control, upgraded storage, digital dash, extended leather dash.
I suppose now we are seeing the effects of PCP, with these poverty-spec cars all up for sale.
Anyone looking for a 2020 on Covid built car is going to struggle to get the spec they want when these cars are on the second hand market. Even if the brochure says it comes with a certain feature as standard, there is no guarantee it will due to component shortages.
I suspect there are some very strangely specced cars out there missing things that would have ordinarily been standard.
I suspect there are some very strangely specced cars out there missing things that would have ordinarily been standard.
Joey Deacon said:
Anyone looking for a 2020 on Covid built car is going to struggle to get the spec they want when these cars are on the second hand market. Even if the brochure says it comes with a certain feature as standard, there is no guarantee it will due to component shortages.
I suspect there are some very strangely specced cars out there missing things that would have ordinarily been standard.
Even slightly older cars, say 2015 onwards. I blame PCP for people going for lowest cost per monthI suspect there are some very strangely specced cars out there missing things that would have ordinarily been standard.
There's a very good reason I refer to cars as being 'PCP white'. As mentioned above, it's all about the monthlies, innit, so people tend to go for as few options as possible unless a true private buyer.
I don't really give a fig about spec on cars, as long as I can get Radio 2 and a Sat Nav i'm happy but you're right, having just recently bought a used car there are a hell of a lot of low/zero spec cars at high prices out there and almost all in black, white, grey or silver (aka boring as hell). Something in a nice metallic colour with some bum warmers is hard to come by and if you can find them there's quite a premium.
I don't really give a fig about spec on cars, as long as I can get Radio 2 and a Sat Nav i'm happy but you're right, having just recently bought a used car there are a hell of a lot of low/zero spec cars at high prices out there and almost all in black, white, grey or silver (aka boring as hell). Something in a nice metallic colour with some bum warmers is hard to come by and if you can find them there's quite a premium.
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