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Used car craziness...

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Tramps_mate

Tramps_mate

Player Valuation: £101m
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Has anyone seen the absolutely looney used car prices currently? Cars like minis, focuses etc are seeing prices 40% higher now than 2 years ago..

My current car I bought as a 1 year old with 11k miles for £15k.

It's now 3.5 yrs old with 53k miles on and current Autotrader prices are £17.5-£19k!!!

I'm tempted to sell it and make money! Buy a banger to drive for a year until prices drop.
 
Tramps_mate said:
Has anyone seen the absolutely looney used car prices currently? Cars like minis, focuses etc are seeing prices 40% higher now than 2 years ago..

My current car I bought as a 1 year old with 11k miles for £15k.

It's now 3.5 yrs old with 53k miles on and current Autotrader prices are £17.5-£19k!!!

I'm tempted to sell it and make money! Buy a banger to drive for a year until prices drop.
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Yep, have a look at VW Transporter prices, but this was largely driven by the staycation vibe but still the prices are soaring.
 
My arl fella saw this and traded is his Kuga for more than he paid for it and has ordered a Jag for next April.
Jammy get.

While the engine light came on my car today and it stopped accelerating the absolute Kopite.

I got the car off my lad as well and let him trade my one in against his new Corsa Sri. Absolutely mugged right off.
 
COYBL25 said:
Apparently it’s to do with the likes of We Buy Any Car, who now own most of the major auction houses too.

So, they’re buying second cars in bulk for way below book price and then selling them through their own auction houses, which is inflating the second hand car market.
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And Cazoo...


Plus there's a shortage of new cars due to a lack of microchips.
 

They’ve been increasing for years. I sold a 2005 Focus in 2015 for £1500 as I got a company car. Two years later I was looking for a cheap run around for a couple of years and like for like cars were going for £2000-£2500.

There doesn’t seem to be much value out there now. When I can afford it I’ll probably lease an electric or hybrid car.
 
COYBL25 said:
Yeah, my my mate who works in Jaguar has dropped a shift due to a shortage of all kinds of parts - Brexit !
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I thought the lack of those chips was down to manufacturers not taking up the supply of them during lockdown as nobody was buying cars which then meant computer and phone companies bought up their allocation. Now car companies are at the back of the line for them.

Is there just a general shortage of all parts now?
 

I’ve been thinking of changing my car for a few months now, just passed an mot 2 weeks ago and is still in really good condition with low mileage for the year….. I was originally looking for a van but prices are so inflated at the moment I changed my mind to look for a car, prices there are quite high too. Difficult one for me as I want to part ex my car now whilst it still has a decent value rather than run it for another 12-18 months.
 
bluerobert said:
I thought the lack of those chips was down to manufacturers not taking up the supply of them during lockdown as nobody was buying cars which then meant computer and phone companies bought up their allocation. Now car companies are at the back of the line for them.

Is there just a general shortage of all parts now?
Click to expand...

From what I can gather, it’s a general shortage of parts mate.
 
Crikey that has gone up. The GFV of my car was supposed to be 12k 2 years ago, now it looks like I could get 16k easily for it.

But not really much point in selling it if everything else is equally as expensive, so I'll just keep it.
 
Goodison87 said:
Sell your car if it’s in the up, take a lease out on a new one. Used car market / prices going to take a hit in 18 months time.
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Isnt as simple as this, so many new cars are being delayed due to the chip shortage. Friend ordered a lease end of August, still no build date. This seems to be the main reason the used car prices are flying up.

Manufactures are scaling down features, using less chips to try and get cars made but apparently they didnt bulk order during the pandemic and companies who make electronics did as they were in high demand
 

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