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What happened to half decent, cheap 2nd hand cars/run arounds?


maffo
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Just checked my 61 plate 41,000 miles Yaris on autotrader and I can get it for £1500 less than I paid for it 7 years ago…or I could get a new hybrid for £15k more than the £7k I paid originally…I’ll stick.

Edited by Kwyjibo
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48 minutes ago, Loki said:

I think the scrap market and the used car market could manage that balance as they always have, government have no place in car (Or housing) markets.  Even with the never-ending legislation the manufacturers and markets have responded.  With all the restrictions imposed a modern car is a marvel of engineering and mass production (Still wouldn't want one out of warranty though)

It isn't very green to scrap perfectly road-worthy cars.

It's not remotely green but successive governments have clearly demonstrated that whatever the rhetoric may be that isn't anyway actual aim.

I want a cheap nearly-new car; that isn't an unreasonable demand.

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2 minutes ago, Frank Hovis said:

It's not remotely green but successive governments have clearly demonstrated that whatever the rhetoric may be that isn't anyway actual aim.

I want a cheap nearly-new car; that isn't an unreasonable demand.

It might be from someone who’s devoted a not insignificant amount of time complaining about people who buy fancy new cars on finance.

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1 hour ago, onlyme said:

WTF, that is madness, prices have hardened at auction but nowhere near that stupid, the real squeeze is low mileage late year where buyers are chasing those rather than new which is in short supply. 

Are you actively looking to buy something>

That was an exaggerated example, but there is some shit available for loads of money.

Yes, I would describe myself as one who was actively looking to buy something.

:ph34r:

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1 hour ago, Snake Plissken said:

Heard this a few times but why is there a shortage of chips all of a sudden ?

The energy shortage in China has seen a major blockage for the manufacture of silicon metal.

https://economictimes.indiatimes.com/small-biz/trade/exports/insights/silicons-300-surge-throws-another-price-shock-at-the-world/articleshow/86699909.cms

Over the past 7 years investment in fossil fuels has dried up because of muh ESG and muh green agenda. Then you had Sleazy Joe in the White House cut the US oil industry off at the knees. The shortages in energy then percolate through just about everything.

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Napoleon Dynamite

In 2015 I bought a 9 year old Mazda 6 for £900.

I currently drive a 10 year old Mazda 6 and autotrader tells me it's worth £4500.

Luckily it's still going strong and I can stick with it.

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PatronizingGit

Paid nearly £5k for a 10 year old van earlier in the year. Back in 2006 I paid £1650 for a 5 year old car, so seems an absurd price.

 

To be fair the van was spotless & had under 20k (yes, twenty) miles! Already added 10k myself, no problems. Actually seemed on the cheap side compared to others

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The Generation Game
2 hours ago, Loki said:

I think the scrap market and the used car market could manage that balance as they always have, government have no place in car (Or housing) markets.  Even with the never-ending legislation the manufacturers and markets have responded.  With all the restrictions imposed a modern car is a marvel of engineering and mass production (Still wouldn't want one out of warranty though)

It isn't very green to scrap perfectly road-worthy cars.

Just remember. 

https://www.am-online.com/news/latest-news/2021/05/21/cinch-attracts-1bn-boost-from-investors-eager-to-back-online-car-retail

Cinch has attracted £1 billion in new investment to continue its push to online car retail growth alongside the likes of start-up rivals Cazoo and Carzam.

The Abu Dhabi and Singapore sovereign wealth funds had teamed up with billionaire George Soros to back the business, which is owned by WeBuyAnyCar and BCA Marketplace owner, Constellation Group.

 

 

Or maybe:

Why George Soros, Warren Buffett and Bill Gates want auto dealerships

The legendary name of George Soros seized the attention of the National Automobile Dealers Association convention in San Francisco last week. The billionaire’s assistants were in town to meet dealers and check out their retail car stores for possible investment.

Shares of the major publicly owned retail chains – Penske Automotive (PAG), AutoNation (AN), Lithia (LAD), Group One (GPI) and Sonic (SAH) – swiftly rose from 2% to 7% in sympathy with the hypothesis that Soros was considering an acquisition.

Soros isn’t the first ultra high net worth individual to be attracted to U.S. retail car dealerships, which can be acquired in large number via a single purchase of a large chain. Nor was Warren Buffett, who agreed in October to buy the Van Tuyl chain, the nation’s biggest privately owned group. Nor was Bill Gates, who owns 15% of AutoNation, itself a rollup of individual dealerships created by billionaire Wayne Huizenga, who got his start hauling garbage.

https://fortune.com/2015/01/29/why-george-soros-warren-buffett-and-bill-gates-want-auto-dealerships/

 

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2 hours ago, Kwyjibo said:

Just checked my 61 plate 41,000 miles Yaris on autotrader and I can get it for £1500 less than I paid for it 7 years ago…or I could get a new hybrid for £15k more than the £7k I paid originally…I’ll stick.

My car was valued at £800

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27 minutes ago, The Generation Game said:

Just remember. 

https://www.am-online.com/news/latest-news/2021/05/21/cinch-attracts-1bn-boost-from-investors-eager-to-back-online-car-retail

Cinch has attracted £1 billion in new investment to continue its push to online car retail growth alongside the likes of start-up rivals Cazoo and Carzam.

The Abu Dhabi and Singapore sovereign wealth funds had teamed up with billionaire George Soros to back the business, which is owned by WeBuyAnyCar and BCA Marketplace owner, Constellation Group.

 

 

Or maybe:

Why George Soros, Warren Buffett and Bill Gates want auto dealerships

The legendary name of George Soros seized the attention of the National Automobile Dealers Association convention in San Francisco last week. The billionaire’s assistants were in town to meet dealers and check out their retail car stores for possible investment.

Shares of the major publicly owned retail chains – Penske Automotive (PAG), AutoNation (AN), Lithia (LAD), Group One (GPI) and Sonic (SAH) – swiftly rose from 2% to 7% in sympathy with the hypothesis that Soros was considering an acquisition.

Soros isn’t the first ultra high net worth individual to be attracted to U.S. retail car dealerships, which can be acquired in large number via a single purchase of a large chain. Nor was Warren Buffett, who agreed in October to buy the Van Tuyl chain, the nation’s biggest privately owned group. Nor was Bill Gates, who owns 15% of AutoNation, itself a rollup of individual dealerships created by billionaire Wayne Huizenga, who got his start hauling garbage.

https://fortune.com/2015/01/29/why-george-soros-warren-buffett-and-bill-gates-want-auto-dealerships/

 

Wonder if any MPs had recently visited before those sovereign wealth funds suddenly decided they couldn’t live without being involved in the UK car market.

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3 hours ago, Oskar said:

I checked auto trader this evening and the car i bought 4 months ago is now worth 4 grand more.

Going to wait 12 months before I sell it and make mad gainz O.o

You should STR or something ;)

Seriously though, we have been spoilt in this country for cheap decent cars. Loads of stuff just being binned because it's unfashionable - cheap enough to be worth more in scrap.

Look at AUS for the opposite of this. Even the US didn't seem to get rid of working and non rotten stuff as easily as us. 

I love a good cheap car.

Edited by 23rdian
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1 hour ago, PatronizingGit said:

Paid nearly £5k for a 10 year old van earlier in the year. Back in 2006 I paid £1650 for a 5 year old car, so seems an absurd price.

 

To be fair the van was spotless & had under 20k (yes, twenty) miles! Already added 10k myself, no problems. Actually seemed on the cheap side compared to others

You have to buy on condition with vans given that 90pc are fucked within 5-10 years. Especially cosmetically.

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If it were not for covid, I would probably replaced my car by now. I'm not shelling out more money just to have it sit there.

I'm sure many have done the same.

So good luck to George Soros with his investment.

Edited by MrPin
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5 hours ago, maffo said:

You used to be able to pick up something like a 10 year old Mondeo petrol, around 100k miles, for peanuts.
But now they cost thousands!

Ive got one of these its done 130,000 miles and i reckon its got another 130k in it.

Barely spent a penny on it in 7 years.

https://www.ebay.co.uk/sch/9800/i.html?_from=R40&_nkw=vauxhall+astra+2011+1.7cdti

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The Generation Game

Young used cars in Britain surpass new cars in terms of prices, the trend is also heading to the Czech Republic

https://www.idnes.cz/auto/zpravodajstvi/ojetina-bazar-britanie-cena-cesko-zdrazeni.A211021_101756_automoto_fdv

For those who buy a used car in Britain, they may pay more for it than for a new car. Dealers have such a problem finding cars that 17 percent of cars less than a year old are now more expensive than their new, but now unavailable, equivalents. This was stated by the company Auto Trader, which sells cars via the Internet.

Used car buyers in Britain spent about a quarter more last week buying a used car than in the same period last year. "Extremely strong" demand meets low availability.

"We do not expect price growth to slow down in the foreseeable future," said Richard Walker on behalf of Auto Trader. The price is growing most significantly in popular cars such as the Ford Focus or Ford Kuga.

Petr Vaněček, Chief Operating Officer and Chairman of the Board of Directors of Aures Holdings, the operator of the AAA Auto network, recently pointed out that young used cars outperform new cars in their prices  . "The primary car market is still facing problems in supply chains and carmakers are not able to supply new cars to the market, which means that companies do not change their fleets and therefore no new used cars are entering the market," said Vaněček.

"In some cases, new used cars are sold more expensive than new cars," he added. This applies to required cars, which manufacturers are unable to supply due to the crisis in the supply of components. According to Vaněček, this is happening mainly in Germany and in Great Britain. He also added that it can be expected that this trend will arrive in the Czech Republic at a distance.

Vaněček also attributes this to the enormous increase in demand for cars from the German market. As an example, he cites the one-year-old Škoda Fabia Combi, whose prices are attacked in some cases by new prices. In the case of this model, the price increase was also influenced by Škoda's announcement that the new Fabia, which it is just starting to sell, will no longer receive cover.

"The rapid increase in sales prices of some new cars on the Czech market surprised us. In general, used cars have risen in price by about ten to fifteen percent in the last year, but in the segment of cars under two years of age we often move over twenty percent, in some countries even over 30%. At that moment, we are very close to the prices at which these models were sold as new, "adds Petr Vaněček

Carmakers are still facing a global shortage of chips, which in the third quarter, worsened the pandemic situation in Southeast Asia. Car sales in Europe are likely to fall below the level of last year's decline, when supplies were constrained by the covidu-19 pandemic.

New second-hand prices rose by six percent in September
The prices of new cars up to two years of age advertised on the Czech market in September rose by 6.3 percent year on year to a median of 539 thousand crowns. However, some models became more expensive by more than a fifth. This follows from the analysis of AAA Auto used cars from the Aures Holdings group.

According to experts, the new second-hand cars are replacing new cars, whose deliveries have been stalled for several months due to a lack of chips. The Czech Statistical Office said in September that second-hand prices on the domestic market had risen by 7.5 percent year on year.

For the two-year-old Volkswagen Passat, sellers in the Czech Republic most often want around 699 thousand crowns, which is 21.6 percent more than a year ago, Ford Focus rose by 18 percent to 449 thousand crowns and Škoda Superb by 17.3 percent to 819,900 CZK . Kia Ceed or VW Golf are also more than 15 percent more expensive.

According to Vaněček, the situation on the new car market will not improve in the near future. "News from cars certainly does not help calm the situation. On the contrary, several manufacturers have already announced further restrictions or even interruptions in production, which will lead to a further shortage of new cars. Until the carmakers are able to finish all the cars and get them on the market, the price increase will continue due to their lack in the market. So far, the outlook is that the situation will not improve at least until the middle of next year, "he said.

The most frequently offered car up to two years of age in the Czech Republic in the first three quarters was the Škoda Fabia with 7095 offers.

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6 minutes ago, Stuey said:

Everyone's waiting until around 2024 to buy their last ever petrol/diesel...

Yes, the confusion of waht might be available or allowed is outting people off a large purchase.

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I bit the bullet and changed my car in June. Paid £6750 for my 2018 Hyundai i10 which I didn't think was too bad. Or rather £6550 + £200 trade in on my 2003 Nissan. Other 2018 registered i10s seem to go for a lot more money. 

However, I have seen other 10 year old chod up for sale for around £3-4k.

Someone on another car forum spotted a 2017 Kia Picanto on sale for £9500 which also sounds potty. It was probably £11k when sold brand new. 

Edited by UmBongo
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