End of lockdown - used car market effects

[Taita]

I'm trying to WBAC (or similar) a 5 Series at the moment, and dealers are all saying the market is quite slow, resulting in some fairly low offers.

As we saw at the end of lockdown 1 and 2, there was a huge uptick in used car sales and a lack of decent stock.

Do you think we will see the same again in a few weeks once retail opens up again? I'm mulling over the idea of taking the lower offer now, versus waiting for 'the rush' and perhaps gaining a slightly better offer. Car will be a few months older by then and closer to first MOT date, so perhaps reducing the value by an amount similar to the increase in demand!

What does PH think?

[Taita]

They are all very valid points, thank you.

Its a 2018 5 Series M Sport, 24000 miles. Motorway offering 19k for it via a dealer (despite originally saying 20800). Can see dealers selling for around 22k-23k on AutoTrader, so if could get towards 20k I'd be happy with that.

[Taita]

FWIW said:

Taita said:

They are all very valid points, thank you.

Its a 2018 5 Series M Sport, 24000 miles. Motorway offering 19k for it via a dealer (despite originally saying 20800). Can see dealers selling for around 22k-23k on AutoTrader, so if could get towards 20k I'd be happy with that.

Which engine/body?

Hi there,

520d saloon in black.

Also has variable dampers, which are genuinely great

[Taita]

J1990 said:

Taita said:

They are all very valid points, thank you.

Its a 2018 5 Series M Sport, 24000 miles. Motorway offering 19k for it via a dealer (despite originally saying 20800). Can see dealers selling for around 22k-23k on AutoTrader, so if could get towards 20k I'd be happy with that.

My i30N dropped £1400 in valuation whilst I was waiting for HMRC to issue a new reg plate, I went through Motorway anyway and ended up with £500 more than the original estimated price anyway.
Motorway have a list of approved buyers who submit a single highest bid each to Motorway, you're then presented with the highest bid at 3pm the same day and can accept/reject. It's basically a silent auction.

If they're selling at dealerships for 22k then 20k sounds very optimistic, a £2k margin isn't particularly worthwhile on a 20k car when they've then got to account for transport, prep, marketing, staff costs etc.

Stick it through Motorway, let them present you with a final bid price and if you don't like it then reject it.

Have received a 19k bid from motorway, their original estimate (before you apply photos etc was 20900). A cynic might say they suck you in with a high price then low ball.

Its in really good nick too, so not like the price is being chipped away at for faults.

[Taita]

av185 said:

Prices are rising across the board and in certain cases showing huge increases. Looks like a repeat of last year especially as better Spring weather and lockdowns easing approaches.

991.2 GT3 has risen £12500 in a couple of weeks as confirmed by a recent forum poster and other high end stuff also up especially limited run.

Quality used 2 and 3 year old vanilla fleet and lease stock in the main 2 Auctions also limited supply reflected in high prices as confirmed by January rising trade prices and recent strong prices including Motability sales traditiinally the bellweather of the quality fleet market.

Which is pretty much where a 2018 520d would sit I guess?