Is the used car market getting back to "normal"

[Dryce]

Noticed that Mercedes in Perth have four pre-reg EQC 400 300kW AMG Line Premium.

73 plate - Pre-reg - mileage if around 20 miles.​

​

£50K - down from a list price of over £78K​

 

[zipdip]

Well people are buying small petrol engine cars and most want a auto,some of these might have bought a EV for running about in cities,but the depreciation has stopped them, big SUV's are just not selling,at auction they are not getting a bid the few traders I know are hoping it is just the December blues ,but given the insurance nonsense,and the fact that we have people struggling to pay the mortgage I suspect that the CAP value of the big cars will have to go down alot to find buyers

 

[markjay]

Noticed that Mercedes in Perth have four pre-reg EQC 400 300kW AMG Line Premium.

73 plate - Pre-reg - mileage if around 20 miles.​

​

£50K - down from a list price of over £78K​

That's a tough one.

To benefit from the BIK tax breake, the car must be brand new. A pre-reg car will likely only be sold to a private buyer, and that's going to be a tough sale. Even with the discount.

 

[Dryce]

That's a tough one.

To benefit from the BIK tax breake, the car must be brand new. A pre-reg car will likely only be sold to a private buyer, and that's going to be a tough sale. Even with the discount.

These are also for cars that have been registered - if this practice is widespread for BEVs compared with other categories then that would suggest the figures for November showing a drop in BEV registrations could be masking a greater underlying drop in sales.

A loss of confidence in pricing makes things harder for the manufacturers. It hits basic manufacturing margins and also finance and lease costs and risks. And it puts buyers who want BEVs into a situation where they may defer - compounding the problem further.

 

[Scooby_Doo]

Noticed that Mercedes in Perth have four pre-reg EQC 400 300kW AMG Line Premium.

73 plate - Pre-reg - mileage if around 20 miles.​

​

£50K - down from a list price of over £78K​

Porsche have about 600 Taycans for sale with big discounts. Audi have about 1600 Q4e for sale with a £5000 deposit contribution. EVs aren't selling at the moment.

 

[MikeInWimbledon]

Porsche have about 600 Taycans for sale with big discounts. Audi have about 1600 Q4e for sale with a £5000 deposit contribution. EVs aren't selling at the moment.

To be fair, the well documented appalling Taycan issues are a different kettle of kippers to a bit of year end stock clearance in a wet December when interest costs have just gone crazy.

Not disagreeing with overall thrust of the case, just saying that it's different factors at play.

Good news, eh, Chaps?

Anyone interested in an I-Pace for less than £20k ?

.

 

[Dryce]

Porsche have about 600 Taycans for sale with big discounts. Audi have about 1600 Q4e for sale with a £5000 deposit contribution. EVs aren't selling at the moment.

Having a sniff around the MB web site out of morbid interest there are various three month old 73 plate EQC 400 300kW AMG Line Premium at or just under £45K at slightly higher mileage 500 to 1500 miles.

There are some older ones at higher prices - presumably they are going to have to come down a bit.

 

[MikeInWimbledon]

Well people are buying small petrol engine cars and most want a auto,some of these might have bought a EV for running about in cities,but the depreciation has stopped them, big SUV's are just not selling,at auction they are not getting a bid the few traders I know are hoping it is just the December blues ,but given the insurance nonsense,and the fact that we have people struggling to pay the mortgage I suspect that the CAP value of the big cars will have to go down alot to find buyers

How many are "struggling to pay the mortgage," when a third of all homes are owned outright, with no mortgage to service? 20% of all homes are "just" rented privately? 15% are socially rented...

And a third of all mortgages on property were negotiated more than ten years ago?

And given that four million fixed rate mortgages haven't actually been renegotiated or updated after the interest rate rises?

Which is not to say that there aren't people affected. But how many of those actually under mortgage rate pressure are potential EQC buyers / EV company car users?

 

[Dryce]

Which is not to say that there aren't people affected. But how many of those actually under mortgage rate pressure are potential EQC buyers / EV company car users?

How many property owners without mortgages are potential EQC buyers.

I would say that looking about my peers it's the ones with mortgages who tend to splash on more up market cars - the ones who will pay the required monthlies.

 

[MikeInWimbledon]

How many property owners without mortgages are potential EQC buyers.

I would say that looking about my peers it's the ones with mortgages who tend to splash on more up market cars - the ones who will pay the required monthlies.

Aye, amongst your peers. But are your peers the only ones to buy EQC’s?

The rhetoric was about people struggling to meet mortgages. What percentage of your pals are struggling to meet their mortgages, and so deciding not to buy an EQC, even through imost EQCs actually go through a company car scheme?

 

[MikeInWimbledon]

Our friends / peers aren’t a good indicator of the total.

Example: how many Americans or Germans have a tattoo ?

(No googling)

 

[Piff]

The Internet says: Pollen filter, brake fluid, drain cleaning plus the usual visual checks of an ICE service it seems.

Prices seem to range from less than £400 to around £1200, and all items due every two years or 20,000 miles.

OPC Colchester seems to be the place to go for best price servicing - I’d say £200 per annum seems pretty good to me.

Colchester have not performed well in my opinion.
I'll be visiting Norwich next.