Used car prices

[Rich764089]

I know there have been a few similar threads on this, but just saw the data on this yesterday.

Used car prices up 4.9% in one month and 18% since April.

Amazing. Confirming what we all knew, but interesting to see the actual stats.

 

[SW18]

I read an article on US inflation yesterday that said used car prices are just coming off the boil there as the post-lockdown demand peak passes. Maybe it will happen here shortly as well and prices will normalise again. Last chance to sell high...?

 

[Deleted member 159894]

I was feeling smug in May when I sold my F-Type at a profit, less smug today when I could sell for another £6k above what I achieved in May.

Have a new car being built in December hopefully so I'm looking forward to that doubling in value upon delivery.

 

[MikeInWimbledon]

Always good to take with a pinch of salt. They're certainly up, but the generalisation is a bit suspect. Percentages "might" be a tad higher for the 50% of used car sales which are more than a decade old.

There was a sudden rush of buyers for the UK Summer staycations and to avoid the UK's insanitary public transport system, by people and car dealers flush with Government cash, "one way or another."

September new car registrations are usually four times the level of July. Call it 320k instead of 80k units. That's a third of a million used cars "flushed" onto the used car market - almost as many units as sold in the previous three months. They'll dampen prices by Halloween.

Maybe used car prices are going to be permanently up - thanks to the move to Electrics. Faced with a £30 - £40k EV hatchback, maybe "Joanna Smith" will be prepared to spend more on keeping and running a used motor? Greta would be happy.

The Joker in the pack will be the Autumn budget. With a £300 billion deficit and National debt well over £2 trillion, Dishy Rishi may be tempted to lean on the motorist who's only pay £40 billion a year in motoring taxes. "Joanna Smith," the motorist, should be good for a few more quid.

 

[Deleted member 159894]

Always good to take with a pinch of salt. They're certainly up, but the generalisation is a bit suspect. Percentages "might" be a tad higher for the 50% of used car sales which are more than a decade old.

There was a sudden rush of buyers for the UK Summer staycations and to avoid the UK's insanitary public transport system, by people and car dealers flush with Government cash, "one way or another."

September new car registrations are usually four times the level of July. Call it 320k instead of 80k units. That's a third of a million used cars "flushed" onto the used car market - almost as many units as sold in the previous three months. They'll dampen prices by Halloween.

Maybe used car prices are going to be permanently up - thanks to the move to Electrics. Faced with a £30 - £40k EV hatchback, maybe "Joanna Smith" will be prepared to spend more on keeping and running a used motor? Greta would be happy.

The Joker in the pack will be the Autumn budget. With a £300 billion deficit and National debt well over £2 trillion, Dishy Rishi may be tax the motorist who's only pay £40 billion a year in motoring taxes. "Joanna Smith" should be good for a few more quid.

Who is Joanna smith?

 

[MikeInWimbledon]

Who is Joanna smith?

Mx Joanna Smith is the Millennial equivalent of John Smith. Sister in law to Fred Bloggs.

In the 21st century, we don't assume that car buyers are men, do we?

 

[ChipChop]

Anyone banking on buying high and selling high long term is in for a fall.

 

[Rich764089]

Anyone banking on buying high and selling high long term is in for a fall.

Very true. Perhaps with some caveats...I think most land rover defenders will hold high value for example. But who really knows. Looking to get more landy anyway, it seems like a good excuse

 

[Rich764089]

Mx Joanna Smith is the Millennial equivalent of John Smith. Sister in law to Fred Bloggs.

In the 21st century, we don't assume that car buyers are men, do we?

But in the 21st century Joanna Smith might actually be a man
Best not to go down this road I guess

 

[Deleted member 150136]

I thought used car prices were high because BCA who owns WBAC now sell their used (WBAC cars)through their company Cinch, instead of putting them to auction at BCA, hence cutting out about 800k used cars a year that are normally floating through dealers.

Dealers now can't get (anything like a many)cars via BCA so they have to source them and buy them from Joe Public.

Cinch/WBAC/BCA has basically taken all the used stock out of the market.

 

[Deleted member 113659]

Our car’s value has increased by £800 in the last month on WBAC. But nothing to be gained because the used cars on my AT wish list have also increased.

 

[MikeInWimbledon]

Anyone banking on buying high and selling high long term is in for a fall.

I had a riffle through the latest Historics Auction catalogue last weekend.

Some sobering stuff in there. Was reminded that my B-in-Law used to have a Ferrari 550 Maranello which he thought was worth over £100k a couple of years ago. Not any more. Ditto I remember talking to an Aston Martin classic restorer who was counting his DB5's as being worth £500-750 three years ago. Not any more. Even at more human, modern classic levels, estimates seem "soft."

Came away with the thought that cars that used to be on the childhood bedroom walls of people currently in their 60's & 70's aren't worth what they were five years ago.

(For good reason, TBH)

And let's not go anywhere the modern "Influencers" and their Supercars which are essentially unusable on British roads. Some may have risen a lot, but most haven't

 

[ChipChop]

I had a riffle through the latest Historics Auction catalogue last weekend.

Some sobering stuff in there. Was reminded that my B-in-Law used to have a Ferrari 550 Maranello which he thought was worth over £100k a couple of years ago. Not any more. Ditto I remember talking to an Aston Martin classic restorer who was counting his DB5's as being worth £500-750 three years ago. Not any more. Even at more human, modern classic levels, estimates seem "soft."

Came away with the thought that cars that used to be on the childhood bedroom walls of people currently in their 60's & 70's aren't worth what they were five years ago.

(For good reason, TBH)

And let's not go anywhere the modern "Influencers" and their Supercars which are essentially unusable on British roads. Some may have risen a lot, but most haven't

The health crisis has been hard on the classic car market. The inability to view cars in person pre auction has scared off all the private buyers who drive up prices looking to buy their dream. All that is left is dealers who obviously are not looking to pay as much.

 

[guhvies]

But in the 21st century Joanna Smith might actually be a man
Best not to go down this road I guess

Well considering that Joan Mir (MotoGP rider) is actually a man, if you want to call yourself Joanna you've got my vote

 

[fabes]

I would dread having to buy a replacement for mine at the moment (if it was stolen, crashed etc - I have no plans to sell)

My cars value won't have kept up with others (they never do ), so I reckon I would see if we could do without or just buy a run around privately and wait this out rather than having to find the perhaps £5k more I would need (as like many I drift onto AT occasionally just to cover off the scenario of what if I had to....)

Just hope mine sails through its MOT and A0 service today.
No calls from MBS yet, which is usually good news

 

[Rich764089]

I would dread having to buy a replacement for mine at the moment (if it was stolen, crashed etc - I have no plans to sell)

My cars value won't have kept up with others (they never do ), so I reckon I would see if we could do without or just buy a run around privately and wait this out rather than having to find the perhaps £5k more I would need (as like many I drift onto AT occasionally just to cover off the scenario of what if I had to....)

Just hope mine sails through its MOT and A0 service today.
No calls from MBS yet, which is usually good news

What's your car?

 

[chic0821]

I think the bubble is about to burst. I have been tracking my S63 AMG Coupe price on WBAC for the last couple of months, just asking for the latest price every week. This week, for the first time its dropped by around £600

 

[Spider10]

WBAC were 8k lower than I sold it for 3 weeks ago

 

[Rich764089]

I think the bubble is about to burst. I have been tracking my S63 AMG Coupe price on WBAC for the last couple of months, just asking for the latest price every week. This week, for the first time its dropped by around £600

Interesting. My E63 was up another £1k from 3 weeks ago this week.

 

[Rich764089]

WBAC were 8k lower than I sold it for 3 weeks ago

That's a big difference! Sounds like you did well hopefully that compensates for not having a C63