Rising used car prices.

[Mottie]

I was hoping to post this in the old 'Rising car prices' thread but I see it’s locked due to some off-topic bitching that went on so starting another thread.

Has anyone seen how used car prices are rocketing? A car we bought off of Mrs Motties sister in February has risen considerably. She just said to give her the WBAC valuation as she CBA with selling it private or haggling for a p/x. Since selling it to us, there’s a couple of thousand miles been put on the clock but the WBAC valuation has risen by £3,665!

Anyone else noticed the rising cost of used cars?

 

[SirGalahad]

I was hoping to post this in the old 'Rising car prices' thread but I see it’s locked due to some off-topic bitching that went on so starting another thread.

Has anyone seen how used car prices are rocketing? A car we bought off of Mrs Motties sister in February has risen considerably. She just said to give her the WBAC valuation as she CBA with selling it private or haggling for a p/x. Since selling it to us, there’s a couple of thousand miles been put on the clock but the WBAC valuation has risen by £3,665!

Anyone else noticed the rising cost of used cars?

Why is this happening? No one wants to take scrap cars?

 

[fillyboy]

Hadn't heard about cars but on the radio today they were saying used vans had increased in price by up to 30%.
A surge in demand by tradesmen with fewer second hand vans reaching the market because of lockdown, plus a surge in demand by people looking for vans to convert to campers.

 

[SirGalahad]

Hadn't heard about cars but on the radio today they were saying used vans had increased in price by up to 30%.
A surge in demand by tradesmen with fewer second hand vans reaching the market because of lockdown, plus a surge in demand by people looking for vans to convert to campers.

Mobile brothels you mean.

 

[sxturbo]

Apparently it's due to the chip shortage so car manufacturers can't produce as many cars, thus the price of the new cars depreciates much less and brings the price of older cars higher.

That mixed with PCP finance deals where cars now have garunteed values when you return the car (no one seems to buy cars outright any more, I see another recession looming very soon with so much finance people have these days), and the ever increasing cost of new cars (£25k for a ford focus????)

People also have more money to spend due to most not having holidays, or going out down the pub or to restaurants. So they want to treat themselves to something, and don't mind paying extra to get what they want.

I was looking at a new car earlier in the year and the price has increased 7k since February. So I decided to keep our old motor for a bit longer, however it's increasingly likely it's going to need to be replaced earlier than used cars go back down in value, so ill have to go for something lesser or borrow more, unfortunately for me I haven't had any spare cash due to covid as life for me has been pretty much normal throughout the pandemic except for working from home for a small while.

 

[sxturbo]

Hadn't heard about cars but on the radio today they were saying used vans had increased in price by up to 30%.
A surge in demand by tradesmen with fewer second hand vans reaching the market because of lockdown, plus a surge in demand by people looking for vans to convert to campers.

Yeah there has been a huge surge in ,#vanlife or something, basically Londoners are giving up there rented accommodation due to loss of job and instead buying Merc sprinter vans (mostly) and converting them to campers to live in. It's become so popular Kent council have banned them from staying overnight at the side of the road and arresting anyone in site sleeping in them.

 

[ellal]

Lower yearly mileage recently?

 

[Doug99]

If you think the rise of used car prices is an issue now, wait until the end of this decade as they will go through the roof when new petrol/diesel cars are banned.

 

[Ihavenojob]

My valuation has gone up with WBAC to just shy of what I paid for it a year ago. No way will anyone get what they quote, but even a couple of main dealers have upped their offer over the last couple of months. It is like houses, easy to sell, but a 'mare to buy another. I am after a van, but as said, good ones are thin on the ground, parcel delivery people snapping them up. I don't need the van for work, so I may get a WAV, seem dirt cheap.

 

[SirGalahad]

Apparently it's due to the chip shortage so car manufacturers can't produce as many cars, thus the price of the new cars depreciates much less and brings the price of older cars higher.

That mixed with PCP finance deals where cars now have garunteed values when you return the car (no one seems to buy cars outright any more, I see another recession looming very soon with so much finance people have these days), and the ever increasing cost of new cars (£25k for a ford focus????)

People also have more money to spend due to most not having holidays, or going out down the pub or to restaurants. So they want to treat themselves to something, and don't mind paying extra to get what they want.

I was looking at a new car earlier in the year and the price has increased 7k since February. So I decided to keep our old motor for a bit longer, however it's increasingly likely it's going to need to be replaced earlier than used cars go back down in value, so ill have to go for something lesser or borrow more, unfortunately for me I haven't had any spare cash due to covid as life for me has been pretty much normal throughout the pandemic except for working from home for a small while.

Thought about going electric? One electric and one petrol / diesel. Or a daily driver and a weekend car?

 

[Ian H]

I’ve noticed. I want a Golf Edition 40 but the price of them have gone stupid.

 

[sxturbo]

Thought about going electric? One electric and one petrol / diesel. Or a daily driver and a weekend car?

Yeah it's something we have thought about, at the moment I have the Nissan Almera as my daily work vehicle, it would be advantageous for this to be electric, but I'm not currently looking to replace this, as it's been super reliable and flies through Mots year after year.

The Audi is what we currently use as the family car and weekend car, this would be advantageous to continue with petrol or hybrid for long journeys we are likely to cover.

The problem is I have a specific set of requirements, and discount a number of models and brands because I simply don't like them or have a case of badge snobbery (or simply because there isn't enough of a price difference between premium and run of the mill to bother considering), then I want a certain ammount of power as anything below is gutless compared to what I'm used to and fully laden you really notice it, I then want a specific size, a specific level of amenities and quality etc etc, and I end up somewhere that's a bit out of my price range lol, well now any way, 6 months ago it was ok.

 

[Captain Nemesis]

S6 Avant for my next one, I hope.

 

[ReganAndCarter]

S6 Avant for my next one, I hope.

Matchbox or Dinky?

 

[motorbiking]

Yep. I was staggered at the wbac price offered for my 11 year old xc90.

but I’d heard wbac have a new pricing strategy where they offer more and then haggle down if they find scuffs and bumps.

Its all BCA for BCA stock.