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Will used car prices ever go back to normal?


spunko

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Apparently they rose by an average of 29% in 2021. I have had my eye on a second car for a while but the asking prices are mental and I'm not buying anything until they go back to normal prices.

Problem is that some say the prices will never fall back because of the chip shortage and the knock-on effects of low production which will run for years and years. Plus throw in the desire to buy an ICE car as the faults and problems of EVs become more apparent.

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As likely as petrol prices going back to normal and also the price of a pint. xD

Posted it elsewhere somewhere but Manufacturers used the supply crisis, whether real (chips etc) or fake (lack of demand so cut supply themselves), to cut out the less profitable models forcing people wanting new cars to pay over the odds for the same crap with added extras, as they gear up for end of line for ICE and move to leccy or hybrid until the infrastructure is ready for full leccy, with hydrogen touted as the 'green' alternative to peak oil problems until then.

They'll be creating hydrogen using electricity from coal and gas power stations so not really green but can fool all the masses all the time as proven with covid. xD

See what car auction prices look like for the model you're interested in, presuming they publish the info online so can see the trends, to see if it's cooling off at all as that may be the best one can hope for.

Is there a 'car price crash' website anywhere yet? xD

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Snake Plissken

Did the number of new cars / PCP change in the last 2 years ? Wondering if people are reluctant to buy new/pcp because alot of work seem less stable than pre covid. When your job is under threat you don't take out a big credit agreement.

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14 hours ago, BoSon said:

 

Is there a 'car price crash' website anywhere yet? xD

There are already numerous posters on Pistonheads who seem to monitor the valuations of their cars on an almost daily basis on sites like WBAC etc... just like the saddos who constantly check the apparent "value" of their house on Zoopla.

I also doubt used car prices will fall back down, there will just be even more forms of debt/credit offered to enable people to buy/lease/PCP them.

Edited by Royston
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15 hours ago, BoSon said:

As likely as petrol prices going back to normal and also the price of a pint. xD

Posted it elsewhere somewhere but Manufacturers used the supply crisis, whether real (chips etc) or fake (lack of demand so cut supply themselves), to cut out the less profitable models forcing people wanting new cars to pay over the odds for the same crap with added extras, as they gear up for end of line for ICE and move to leccy or hybrid until the infrastructure is ready for full leccy, with hydrogen touted as the 'green' alternative to peak oil problems until then.

They'll be creating hydrogen using electricity from coal and gas power stations so not really green but can fool all the masses all the time as proven with covid. xD

See what car auction prices look like for the model you're interested in, presuming they publish the info online so can see the trends, to see if it's cooling off at all as that may be the best one can hope for.

Is there a 'car price crash' website anywhere yet? xD

You say that but I had a 99p pint yesterday in wetherspoons...:D

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55 minutes ago, spunko said:

You say that but I had a 99p pint yesterday in wetherspoons...:D

Nice. No pub snobs either, they walk past with a disdain look on their face into the next pub charging a fiver a pint, if they're lucky. Mugs. xD

If any other pubs than wetherspoons are offering a pound a pint make sure it's not a pint of piss. aka Fosters. xD

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13 minutes ago, BoSon said:

Nice. No pub snobs either, they walk past with a disdain look on their face into the next pub charging a fiver a pint, if they're lucky. Mugs. xD

If any other pubs than wetherspoons are offering a pound a pint make sure it's not a pint of piss. aka Fosters. xD

I believe it was Ruddles Best. Not the nicest beer around but for 99p you can't go wrong. Much better (IMO) than Abbott Ale which was £1.19 recently.

PS: We can't discuss Wetherspoons without paging @Frank Hovis

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Frank Hovis
1 hour ago, spunko said:

I believe it was Ruddles Best. Not the nicest beer around but for 99p you can't go wrong. Much better (IMO) than Abbott Ale which was £1.19 recently.

PS: We can't discuss Wetherspoons without paging @Frank Hovis

 

Off there tonight but I'm the driver so no 99p pints for me.

 

Back to topic I've been looking at Berlingo type cars but they offer very poor value and there is now a new entrant to the model shape: Dacia Jogger as mentioned on another thread.

Available this year from £16k which might get you a five year old Berlingo.

Though it's a 1.0 and these overly small engines always seem doomed to blow up through being overstretched; though new Berlingos also have oversmall engines.

Next year a 1.6 petrol is promised which seems more like it but is a hybrid; which is a plus if it's a plug in but just dead weight and more to go wrong if it isn't.

Plus it will be more than £16k; I'll have to wait and see.

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Snake Plissken
44 minutes ago, Frank Hovis said:

 

Off there tonight but I'm the driver so no 99p pints for me.

 

Back to topic I've been looking at Berlingo type cars but they offer very poor value and there is now a new entrant to the model shape: Dacia Jogger as mentioned on another thread.

Available this year from £16k which might get you a five year old Berlingo.

Though it's a 1.0 and these overly small engines always seem doomed to blow up through being overstretched; though new Berlingos also have oversmall engines.

Next year a 1.6 petrol is promised which seems more like it but is a hybrid; which is a plus if it's a plug in but just dead weight and more to go wrong if it isn't.

Plus it will be more than £16k; I'll have to wait and see.

New Dacia seems v good value with the way the second hand prices have gone

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21 hours ago, spunko said:

Apparently they rose by an average of 29% in 2021. I have had my eye on a second car for a while but the asking prices are mental and I'm not buying anything until they go back to normal prices.

Problem is that some say the prices will never fall back because of the chip shortage and the knock-on effects of low production which will run for years and years. Plus throw in the desire to buy an ICE car as the faults and problems of EVs become more apparent.

Time for a very current true story. 

Bought a FSH 2008 Honda Civic 2.2 CDTI ES with 80k miles in 2019 for just £2k.  Put 16k miles on it since. Not spent a huge amount on it , maybe £400 to pass 3 MOT's including tyres. 

Just sold it this week for £2500 with 96k miles on the clock, and 11 months MOT.  Guy who bought it drove 200 miles from Devon and told me all the "local" ones for sale down there , older, more mileage and worse condition are asking £4k-£5k!!! 

He collects it on Saturday. 

 

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belfastchild
2 hours ago, Frank Hovis said:

 

Off there tonight but I'm the driver so no 99p pints for me.

 

Back to topic I've been looking at Berlingo type cars but they offer very poor value and there is now a new entrant to the model shape: Dacia Jogger as mentioned on another thread.

Available this year from £16k which might get you a five year old Berlingo.

Though it's a 1.0 and these overly small engines always seem doomed to blow up through being overstretched; though new Berlingos also have oversmall engines.

Next year a 1.6 petrol is promised which seems more like it but is a hybrid; which is a plus if it's a plug in but just dead weight and more to go wrong if it isn't.

Plus it will be more than £16k; I'll have to wait and see.

Got an offer this summer for 13k new for fiat version of the mpv berlingo (company/client deal). Asked my mechanic about it and he said I was better off with the 14 year old one I already had as it would last longer (I have it from new).
2 years ago I was insuring it for about a grand or less. Last year insurance company said I would have to insure it for over 3k.
Primary reason given was no small vans about for people wanting to do amazon etc deliveries, other reason was the availablity of boot jumps and people paying stupid money for well looked after berlingo/kangoos etc to turn into mini campers.
I looked at the jogger but do occasionally have the need to take stuff pallet sized in the boot and the towbar with 1.6hdi engine is useful for towing the boat, wee trailer.
Can see the 1l petrol being useful for any low emissions city zone etc but as you say, cars the last 10 years or so have been pushing the engines too much at the low end.

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20 hours ago, Snake Plissken said:

Did the number of new cars / PCP change in the last 2 years ? Wondering if people are reluctant to buy new/pcp because alot of work seem less stable than pre covid. When your job is under threat you don't take out a big credit agreement.

Can't say where I got the data, but these are real numbers of PCP orders.

2014    9266
2015    9471
2016    11302
2017    10022
2018    9401
2019    8509
2020    5619
2021    5442

So yes, slashed in half.

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Snake Plissken
4 minutes ago, gilf said:

Can't say where I got the data, but these are real numbers of PCP orders.

2014    9266
2015    9471
2016    11302
2017    10022
2018    9401
2019    8509
2020    5619
2021    5442

So yes, slashed in half.

This could be some of the explanation why theres so much pressure on the 2nd hand prices, giving up the pcp you still need a car.

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belfastchild
Just now, Snake Plissken said:

This could be some of the explanation why theres so much pressure on the 2nd hand prices, giving up the pcp you still need a car.

I only know one person with a pcp car. They have been getting smaller and smaller cars as time went on. Was supposed to give the latest one back late 2020 but pcp company said due to covid they were quite happy for them to continue paying at the same rate but would be liable for repairs/mot etc.

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5 hours ago, belfastchild said:

Got an offer this summer for 13k new for fiat version of the mpv berlingo (company/client deal). Asked my mechanic about it and he said I was better off with the 14 year old one I already had as it would last longer (I have it from new).
2 years ago I was insuring it for about a grand or less. Last year insurance company said I would have to insure it for over 3k.
Primary reason given was no small vans about for people wanting to do amazon etc deliveries, other reason was the availablity of boot jumps and people paying stupid money for well looked after berlingo/kangoos etc to turn into mini campers.
I looked at the jogger but do occasionally have the need to take stuff pallet sized in the boot and the towbar with 1.6hdi engine is useful for towing the boat, wee trailer.
Can see the 1l petrol being useful for any low emissions city zone etc but as you say, cars the last 10 years or so have been pushing the engines too much at the low end.

I know a few guys in Manchester who are buying estate cars or van based cars for business use to get around the proposed clean air zone.

Are small van prices about to fall?

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Joncrete Cungle
12 hours ago, Royston said:

There are already numerous posters on Pistonheads who seem to monitor the valuations of their cars on an almost daily basis on sites like WBAC etc... just like the saddos who constantly check the apparent "value" of their house on Zoopla.

I also doubt used car prices will fall back down, there will just be even more forms of debt/credit offered to enable people to buy/lease/PCP them.

Had the radio on at work today and it was on a station I wouldn't choose. Four different car sales adverts repeated regularly all bloody day. PCP, finance and one claiming to specialise in bad credit score finance.

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11 minutes ago, Joncrete Cungle said:

Had the radio on at work today and it was on a station I wouldn't choose. Four different car sales adverts repeated regularly all bloody day. PCP, finance and one claiming to specialise in bad credit score finance.

Been that way for years now really, you'll never see a car's retail price in an advert, just the munflies.

What's really crazy is they're even doing PCP on used cars now.

I dread to think how much these debt junkies and debt pushers have pushed up the cost of just about everything, not just cars.

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King Penda
On 27/01/2022 at 16:14, BoSon said:

As likely as petrol prices going back to normal and also the price of a pint. xD

Posted it elsewhere somewhere but Manufacturers used the supply crisis, whether real (chips etc) or fake (lack of demand so cut supply themselves), to cut out the less profitable models forcing people wanting new cars to pay over the odds for the same crap with added extras, as they gear up for end of line for ICE and move to leccy or hybrid until the infrastructure is ready for full leccy, with hydrogen touted as the 'green' alternative to peak oil problems until then.

They'll be creating hydrogen using electricity from coal and gas power stations so not really green but can fool all the masses all the time as proven with covid. xD

See what car auction prices look like for the model you're interested in, presuming they publish the info online so can see the trends, to see if it's cooling off at all as that may be the best one can hope for.

Is there a 'car price crash' website anywhere yet? xD

I’m sure derv hit about 1.50 around 9 years ago 

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Cheese Limit

I have just bought a pre-registered Berlingo van in 'Driver' spec. Took some hunting down and no deals to be had anywhere.

£18k plus VAT but is a cool little van which is great to drive.

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On 28/01/2022 at 11:46, markyh said:

Time for a very current true story. 

Bought a FSH 2008 Honda Civic 2.2 CDTI ES with 80k miles in 2019 for just £2k.  Put 16k miles on it since. Not spent a huge amount on it , maybe £400 to pass 3 MOT's including tyres. 

Just sold it this week for £2500 with 96k miles on the clock, and 11 months MOT.  Guy who bought it drove 200 miles from Devon and told me all the "local" ones for sale down there , older, more mileage and worse condition are asking £4k-£5k!!! 

He collects it on Saturday. 

 

Why would he tell you that ? 

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3 hours ago, ccc said:

Why would he tell you that ? 

I guess because he haggled his buy price before he even left. I had it on for £2700 expecting to be knocked down to £2500.  He was the 2nd viewer, 1st one was a fussy woman and son who wanted to se it the day it went live at 7pm in the dark. They didn't buy or even offer. This guy said , if it is as you describe, i have £2500 would you accept that, i will be coming all they way from Devon.  I said sure but there will be no further haggling about anything, pay £2500 or walk away. 

He came , he saw, he liked, he left £200 cash deposit , told me the local price story,  he came back 1 week later being dropped of buy his DD , he paid the money into my bank account before he left, i sorted the V5 online for him, gave him his £200 cash deposit back. 

Jobs a goddun. Two trustworthy people trading a car privately.  My word is my bond and i wasn't going to jack up the price because be could take it home and sell it for a profit. He had had his Civic written off before Xmas and this was all the payout he got, £2500. 

It had to go my March 1st as i need the drive to Store out Chevy Volt as a future classic once our 2nd Tesla arrives. 

Had about 10 people after his deposit call or email after the car so it would have gone anyway to someone. 

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13 hours ago, ccc said:

Why would he tell you that ? 

Quite large price variations depending on location have always been the norm.

In 1989 my then Mrs wanted a Honda CRX. In the Manchester area they were fetching £2000 of list. I had to go to Morecambe on business and as I came off the motorway I was behind a car transporter full of Hondas, including two CRXs. Out of curiosity I followed it to the local Honda garage and went in to ask about delivery times for a new CRX.

"Depends on colour" the guy said. "White you can have this morning, red, silver or blue would be this afternoon because they're right at the back of the yard."

His catchment area coffin Dodger clients all wanted accords and civics not CRXs, he couldn't sell his allocation of those.

I took a red one for her ladyship and struck a deal with a Wilmslow dealer for the other Honda CRXs with 70 miles on the clock for £1000 over list.

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Don Coglione
1 hour ago, Option5 said:

I took a red one for her ladyship and struck a deal with a Wilmslow dealer for the other Honda CRXs with 70 miles on the clock for £1000 over list.

I know this was pre-computer networks, but surely, even back then, the Honda dealers would have been aware of one another's stock levels and could have agreed stock transfers at wholesale, assuming the Morecambe dealer just wanted rid of the cars foisted upon him by Honda?

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