All things suggest this is a temporary situation, likely to last another 18 months. So by the time your balloon payment is due, the value of your car is more than likely going to be back to normal levels.
Rising used car prices.
- Thread starter Steve D
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All things suggest this is a temporary situation, likely to last another 18 months. So by the time your balloon payment is due, the value of your car is more than likely going to be back to normal levels.
Still indicates I'm going to make a tidy profit instead of the usual loss as it's not going to lose 10k
You’d hope it wouldn’t but things are mad currently…
Prices are very inflated so if that bubble bursts, it could be a significant change in price!
I need an estate for the doggo and have been tracking used 330d prices for over a year - in that time my sorta spec has risen by around £8-10k but for older cars with higher mileage…. Newer cars have risen even more.
I am holding out as the prices will drop when new production starts to catch-up again.
What the prices are today, will be very different in 18 months time. There are a number of factors driving the value of used cars up at the moment, when these factors no longer exist prices will adjust again back to normal levels. I wouldn‘t expect big profits, if any in around 12 to 18 months. Unless of course you are sitting on a rare car.
My car is rare as in the fact it hasn't been abused and the bodywork is mint.full detail
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Thats not rare its just well looked after
Ok not rare but all detailing is done by me the owner which is quite different from a company supplying a service. Lots of love has been given
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I loved mine enough to pay a professional detailed to look after mine, does this make mine even more valuable and rarer
I loved mine enough to pay a professional detailed to look after mine, does this make mine even more valuable and rarer
That is funny tbf
I loved mine enough to pay a professional detailed to look after mine, does this make mine even more valuable and rarer
Sorry guys, your love has no monetary value when it comes to cars
Expect prices to stay the same for a while, I work in a car factory and we are off now until 4th October due to parts shortages! We had a week off 3 weeks back and they expect more between Oct-Jan. Luckily we still get paid when we are off
Sorry guys, your love has no monetary value when it comes to cars
Sorry guys, your love has no monetary value when it comes to cars
I have a limited run Porsche, so mine should hold its value regardless (hopefully)
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The market is well and truly crazy….
I recently sold my Focus to WBAC for £19,250.
I bought it in Sept 2019 for £20,329
Now for sale on Cinch for £20,950!
£600 more than what it cost new and almost £10,000 miles on the clock.
I recently sold my Focus to WBAC for £19,250.
I bought it in Sept 2019 for £20,329
Now for sale on Cinch for £20,950!
£600 more than what it cost new and almost £10,000 miles on the clock.
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Quick question regarding the used cars prices, have they gone down ? Are dealerships are just trying to keep the higher profit margins ?
I've been getting itchy feet and thinking of changing car but aren't 100% sure yet. When I input my S3 into WBAC it's saying they'll give me 1k less than what I paid for it which fair. When I input the M140i into WBAC its saying they'll pay 6k less than what it's currently up for..difference is a bit drastic
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I've been getting itchy feet and thinking of changing car but aren't 100% sure yet. When I input my S3 into WBAC it's saying they'll give me 1k less than what I paid for it which fair. When I input the M140i into WBAC its saying they'll pay 6k less than what it's currently up for..difference is a bit drastic
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I’ve been monitoring prices closely and even thought about cashing-out at a small profit recently on my S3.
It looks to me as though prices have reached a high water mark and will now fall naturally as autumn and winter tend to see values drop. If you have a good offer and want to sell soon, just do it now as winter always sees prices drop regardless of the big picture for car prices.
The real test will come next spring. There are now well over a million fewer 0-2 year old cars in the system, compared to what might have happened if long term sales trends had continued. New supply still looks constrained well into 2022 and factory car prices are rising quickly. These trends aren’t going away and manufacturers are making profits on lower volumes for now.
Putting aside seasonal variation, I think we have seen a permanent rise in used values.
That doesn’t mean people will wish they’d bought an Astra 1.4 in 2020 instead of a house! Cars like my S3 will now depreciate… but that depreciation is now starting from a higher point, following a one-off increase IMO.
It looks to me as though prices have reached a high water mark and will now fall naturally as autumn and winter tend to see values drop. If you have a good offer and want to sell soon, just do it now as winter always sees prices drop regardless of the big picture for car prices.
The real test will come next spring. There are now well over a million fewer 0-2 year old cars in the system, compared to what might have happened if long term sales trends had continued. New supply still looks constrained well into 2022 and factory car prices are rising quickly. These trends aren’t going away and manufacturers are making profits on lower volumes for now.
Putting aside seasonal variation, I think we have seen a permanent rise in used values.
That doesn’t mean people will wish they’d bought an Astra 1.4 in 2020 instead of a house! Cars like my S3 will now depreciate… but that depreciation is now starting from a higher point, following a one-off increase IMO.
I've also toyed with the idea of selling my S3 now while prices are high but your selling high and buying high so its difficult one .
I have a T5 and a Fabia as well, so I did think about selling the S3 and downsizing to just those two. Thankfully I don’t need the money, but it’s a good time to exit the market altogether (rather than replace).
I have had another offer today which is what I paid for the car when I bought it so I might get rid and just buy a run around until summer and see what the car market is like then...don't want to miss the boat so to speak.
I was thinking prices might start falling soon with Christmas coming up as well so we'll just have to wait and see. Seems like dealerships are still struggling to get new cars through the door.
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I was thinking prices might start falling soon with Christmas coming up as well so we'll just have to wait and see. Seems like dealerships are still struggling to get new cars through the door.
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My my mate who works at a car dealership said the same thing. Looks like its time to cash in. Winters here now anyways so not missing out on to much fun...Still gonna miss it !
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Just checked mine only dropped 300 quid in past couple of months since last check... 22k WBAC... More if I went private. Only paid 24.5k 2.5yrs ago lol. Car is 7.5yrs old albeit very low mileage for the age. Bonkers prices still...
The other perspective to note here is the migration to electric.
They’ve also gone up and with constrained supply, how long before they can become mainstream and the general populous switches over?
The longer term plan here may well be to time the sale of a “halo” car to just before chip supply normalises and jump to electric. Once the chip supply issues are removed, then the market will see a price decline because the supply of new cars can move forward and electric will charge forward over ICE at a faster pace than previously seen
They’ve also gone up and with constrained supply, how long before they can become mainstream and the general populous switches over?
The longer term plan here may well be to time the sale of a “halo” car to just before chip supply normalises and jump to electric. Once the chip supply issues are removed, then the market will see a price decline because the supply of new cars can move forward and electric will charge forward over ICE at a faster pace than previously seen
I'm really nervous about losing the profit in my car if the used car market drops to normal levels.... my new Audi a3 is due to be built in early March.....I'm unsure if used car prices will have dropped by then..... I'm almost tempted to sell my car now to bag the profit and buy a run around
Do the numbers and see if a runaround is cost effective. Now is the time to jump if you’re going to
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I just sold my 2018 S3 Sportsback to Cazoo. There offer was 3.8k more than webuyanycar.
The service was fantastic and the handover process was done within 15 minutes. The money was in my bank before the driver left
The service was fantastic and the handover process was done within 15 minutes. The money was in my bank before the driver left
I'am considering using Cazoo to sell my S3 soon its good to hear to process is an easy one
I sold my last car in September and it’s now circa £5k less than wbac offered back then… not that I sold it to wbac but like you, it’s a reasonable way to compare
That’s £32k vs £27k for context.
I guess it will take a few months before that trickles through to retail prices…
I sold my last car in September and it’s now circa £5k less than wbac offered back then… not that I sold it to wbac but like you, it’s a reasonable way to compare
That’s £32k vs £27k for context.
I guess it will take a few months before that trickles through to retail prices…
My quote from WBAC has dropped a grand in 3 weeks - not that I’m looking to sell.
What with the old airfields packed with cars last summer now a shadow of their previous stock levels, prices are correcting, all be it slowly as opposed to dropping off a cliff.
Coming into Christmas too though so things are bound to slow and drop anyway.
However I bought my M2 comp in June for 45500, sold it back to BMW for exactly the same money this time last month and they put it up for 49950… it didn’t even last a week up for sale!
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However I bought my M2 comp in June for 45500, sold it back to BMW for exactly the same money this time last month and they put it up for 49950… it didn’t even last a week up for sale!
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I'm thinking of selling my A3 as I got really good offer from cazoo. They are willing to pay £2100 more than I paid for it in April. My question is, is it worth changing my A3 2.0 TFSI FWD for same one but with Quattro and full spec? There is £4000 difference in price.
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Well, it reached a high of £17,840 in September but now back down to £16,500. I'm losing money!
The car market generally slows down this time of year, particularly for certain types of cars. So I wouldn’t take pricing now, or part with cars now unless you need to.
Anything I have seen suggests that new car production is not going to return to normal levels anytime soon, so no new stock means used cars should still retain their value at least in the short to medium term.
Anything I have seen suggests that new car production is not going to return to normal levels anytime soon, so no new stock means used cars should still retain their value at least in the short to medium term.
I'm not willing to take that risk... I'm due to hand over my car to cazoo on Friday..... SEAT Leon FR 67 plate with 22k miles on the clock valued at £14.4k
The PCP settlement balance was £7.8k which will give me circa £6.4k of cash... I was due to use the car in a part ex for a new audi.. but I'm concerned the used car market will be heading back down to normal values by the time the new Audi is ready
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I’ve been keeping tabs of the value of my old S5 since I sold it a few months ago, so far I’m pleasantly surprised - according to a few valuing websites it seems the price has dropped around £1800-£2000 compared to what I managed to get for it.
Sadly I’m still not any closer to replacing it, due to my Dad’s forces discount I can get a great deal on a M135i (I know I’m sorry) but my local dealer hasn’t got any to test drive, typical!
Sadly I’m still not any closer to replacing it, due to my Dad’s forces discount I can get a great deal on a M135i (I know I’m sorry) but my local dealer hasn’t got any to test drive, typical!
My view is that dealers will be well-stocked for the slower winter period, leading to the usual decline in trade bids between now and the spring. As I said earlier, what happens then will be telling. Demand normally rises come spring.
New car prices are rising and build slots are scarce. Supply looks to be constrained well into 2022 (go look at our very own 8Y forum), affecting the availability of options as well as cars. The alternatives are a used car, or a longer wait while retaining your current car... which in itself constrains used supply.
I had considered cashing-in about a month ago by reducing from 2 cars to 1, which I'm still unsure about. Today, I'd get about 3% less than a few weeks ago - but I still take the view that a sudden structural drop in used prices looks unlikely and that next spring could be a good time to sell if I still want to.
New car prices are rising and build slots are scarce. Supply looks to be constrained well into 2022 (go look at our very own 8Y forum), affecting the availability of options as well as cars. The alternatives are a used car, or a longer wait while retaining your current car... which in itself constrains used supply.
I had considered cashing-in about a month ago by reducing from 2 cars to 1, which I'm still unsure about. Today, I'd get about 3% less than a few weeks ago - but I still take the view that a sudden structural drop in used prices looks unlikely and that next spring could be a good time to sell if I still want to.
You could well be right.... I do feel I might have been trigger happy selling now (due to hand it over to Cazoo onFriday) however I'm not willing to take on the risk of the used car market dropping materially
I also think that at minimum we've already seen the used car values peak circa a month ago..... I can't see the prices exceeding that level next spring..... but then again who knows
To be clear, I think prices will drop now as autumn turns to winter. I also suspect that Cazoo's offers will continue to top the competition for some months as they look to cement a stronger position in the marketplace. For all their promotion, they are still much smaller than the likes of Pendragon, Arnold Clark etc.
But I am modestly confident that prices will rise again in spring 2022. On an individual level, what this might mean is that an average car depreciates now but stops depreciating for a few months next spring. But this will still mean that the price for a, say, 3-year-old A3 will be the same or higher in 2022 than it was in 2021, 2020, 2019 etc.
For me personally, it might mean that I can run my S3 with minimal depreciation for another 6 months instead of selling - and thereby benefit from the added utility of having another car at a low price. Long term, I will probably combine the two cars I have into one.
But I am modestly confident that prices will rise again in spring 2022. On an individual level, what this might mean is that an average car depreciates now but stops depreciating for a few months next spring. But this will still mean that the price for a, say, 3-year-old A3 will be the same or higher in 2022 than it was in 2021, 2020, 2019 etc.
For me personally, it might mean that I can run my S3 with minimal depreciation for another 6 months instead of selling - and thereby benefit from the added utility of having another car at a low price. Long term, I will probably combine the two cars I have into one.
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