Great time to sell

[Deleted member 159894]

A friend was trying to get out of a car last week, WBAC were quoting a figure below his settlement and he was resigned to coughing up the difference, as a last resort he tried our local dealership group and they sent a buyer down who agreed a far better figure where my pal could settle and trouser a fair chunk of money.

Out of curiosity I agreed for the guy to call over to mine the same day and he offered a great price for my F-Type, more than I paid last year and enough to cover a service and some very expensive tyres, it went this morning and was a very easy transaction.

Apparently dealers cannot get enough stock, new cars are delayed due to some silicon (chip) supply and punters have plenty of cash post Covid.

I'll not be buying a second hand car for sure so the search begins.

Happy days, haven't ran a car for free since the 80s.

 

[Atavus]

Used cars are a bit crazy lately. WBAC and others are paying strong prices. Other than the bit about new car delays being a factor, I agree. Good time to sell.

 

[andyR43]

Crazy times.

It's not just the car market either. Boat prices have rocketed and on our local news last night the local motorhome dealership is fast running out of stock.

 

[MikeInWimbledon]

Despite rumours, a lot of people have had a very good pandemic.

Same or more money coming in, and very little chance to spend it.

Let alone the "who wants to sit in public transport next to a stranger..." issue.

 

[Teego]

Mmmmmmmmmm. Took my wife down to a local car supersite today. Strolling around, the site gofer asked if we were buying? If you are all these are sold. Look over at that row by the fence. He said he's working 12 hour days to get stuff through the gate. Cars for sale hadn't even been prepped yet.

 

[Smart320]

Sold my Mini Cooper 2 weeks ago to a trader via the Motorway website , a day later it was up for sale at £850 more than I paid for it at another garage last October! Retail prices are obviously very strong !

 

[SarahAnn200]

Sold my Mini Cooper 2 weeks ago to a trader via the Motorway website , a day later it was up for sale at £850 more than I paid for it at another garage last October! Retail prices are obviously very strong !

Sold my 69 c300 a couple of weeks ago. The MB dealer has it for sale at £4400 more than I paid in February. It didn't need anything doing and went straight for sale, less than 5k miles on it. I'd had a few offers on it and they were all similar to what I got for it.
I've noticed WBAC offers are going up on it since I sold it

 

[horatio]

Inflation and shortages. See building materials!

 

[John N]

A friend was trying to get out of a car last week, WBAC were quoting a figure below his settlement and he was resigned to coughing up the difference, as a last resort he tried our local dealership group and they sent a buyer down who agreed a far better figure where my pal could settle and trouser a fair chunk of money.

Out of curiosity I agreed for the guy to call over to mine the same day and he offered a great price for my F-Type, more than I paid last year and enough to cover a service and some very expensive tyres, it went this morning and was a very easy transaction.

Apparently dealers cannot get enough stock, new cars are delayed due to some silicon (chip) supply and punters have plenty of cash post Covid.

I'll not be buying a second hand car for sure so the search begins.

Happy days, haven't ran a car for free since the 80s.

I have been looking into changing my car for the last 3 weeks across many models of MB, Carwow have now replied to my searches 4 times with an E Mail: "Now this is is Embarrassing, no Dealerships have any Models that you are looking for"

 

[Darrell]

Bicycle parts are the same.

 

[SpikyMikey]

Sold my Mini Cooper 2 weeks ago to a trader via the Motorway website , a day later it was up for sale at £850 more than I paid for it at another garage last October! Retail prices are obviously very strong !

Slight dilution of the thread, but how was your experience of Motorway? - they seem to get good Trustpilot reviews

 

[raspy]

A number of factors since the pandemic began have contributed;
1. Some people going from using public transport to buying a car to reduce risk of getting virus (hence even prices rising at lower end of market)
2. New car sales significantly lower in 2020 (almost 30% drop) and some car factories closed for a while during pandemic
3. Companies and individuals holding on to 2-3-4 year old cars for longer rather than returning on PCP/lease and getting a new car
4. Some (not all) households saving huge amounts of cash during lockdown, so they have higher savings to splurge on a car purchase
5. Long lead times on new cars (due to chip shortage)

It will be interesting to see what happens to used car values of particular cars in October/November 2021 when those living in the suburbs of London realise they have a car that doesn't comply with the expanded ULEZ zone and they sell their non compliant cars rather than pay £12.50 a day just to drive to the local shops. If prices do drop significantly, it might be a good time to pick up a pre Euro 6 diesel, for example a MB diesel from 2012 (which is not ULEZ compliant)

This is quite and interesting discussion (12 mins) from Car Dealer Magazine on the current situation as well as where we may be headed - what a weird time that your used car is appreciating on the driveway!

 

[Deleted member 113659]

I have been looking into changing my car for the last 3 weeks across many models of MB, Carwow have now replied to my searches 4 times with an E Mail: "Now this is is Embarrassing, no Dealerships have any Models that you are looking for"

Yeah, I had the same from them last month when searching for a 3 Series saloon on behalf of my orderly neighbour.

 

[SarahAnn200]

Bicycle parts are the same.

and bikes themselves. There was a cycle shop on tv the other day saying his supplier couldn't give him a date of when they could send him more bikes. He couldn't keep up with the demand

 

[Darrell]

and bikes themselves. There was a cycle shop on tv the other day saying his supplier couldn't give him a date of when they could send him more bikes. He couldn't keep up with the demand

Very true. I was in a Evans Cycles recently and they didn’t have any stock.

 

[Rory]

Despite rumours, a lot of people have had a very good pandemic.

Same or more money coming in, and very little chance to spend it.

Let alone the "who wants to sit in public transport next to a stranger..." issue.

On the other hand I'm seeing lots of comments on forums from people who are pretty sick that they've got £400 or £500 a month going out on a PCP for a car that's largely just sitting on their drive.

 

[jimbg]

Slight dilution of the thread, but how was your experience of Motorway? - they seem to get good Trustpilot reviews

I sold a Land Rover Discovery last September through them and they were very good and pleased with the price that they achieved.

My son then used them to sell his 911 and had the same experience.

 

[raspy]

If this post on PistonHeads is genuine, then it really is a crazy time for used car prices!

"Sold my 2016 Merc E200 Cabriolet with 17k miles on it to WBAC yesterday. 2 months ago their valuation was £15.5k, steadily gone up over that time, and this week hit £20k."

 

[SpikyMikey]

If this post on PistonHeads is genuine, then it really is a crazy time for used car prices!

"Sold my 2016 Merc E200 Cabriolet with 17k miles on it to WBAC yesterday. 2 months ago their valuation was £15.5k, steadily gone up over that time, and this week hit £20k."

I actually can believe it, that's why I was interested in Smart320's experience of dealing with Motorway: in less than a month their valuation on my C180 has gone up by just short of £1K

 

[Dippo]

Here's an article on it.

Soaring wholesale used car prices ‘not recoverable’ at point of sale

Soaring wholesale used car prices are “not recoverable” through retail price rises, creating an environment of ever-shrinking margins.

www.am-online.com