Crazy used prices

[EDZ]

WBAC dropped a £1,000 on my car in a week. Glad I've already moved it on

Ditto: My Macan SD sold early October is down by over £5k at the best, so I'm also smiling. As recently published in the Express prices are falling and due to plummet in the new year, and I'm already now starting to see dealers putting on sales and black Friday deals with reduced prices, obviously trying to shift a bit of stock before it happens as they obviously brought high but should be slightly offset by the high returns gained on the way up, but some may catch a cold.

[Percymon]

WBAC value my SD at £12k less than any equivalent car for sale currently, or £16k less than anything near the same spec in an OPC

Guess even though people should be looking more at SUVs/4x4s at this time of year the retail stock levels are high , and retailers are now more cautious about buying more. there are certainly a few lesser spec'd cars in OPCs that are looking fairer on price than a month or so ago.


Just put my discovery sport info in, WBAC are offering £500 less than they gave me back in August, so not all makes are seeing the drop off

[Wil]

in preparation for my GTS arriving tomorrow i took my previous car to a broker. (To joe public it looks like a any other used car dealer, but they don't own any of the cars in the showroom, they are all being sold on behalf of the owners.)
Anyway, they agree a price for you when it sells, and obviously stick it on the forecourt for more, that's their margin.
Somewhat optimistically I'd held out for the same as i paid for it 3 years ago as my price from them and they eventually agreed.
A week after they took it i still couldn't see it on their web site so i called them this morning for an update on why they weren't advertising yet.
It turns out they have already agreed a sale on it, they're just waiting for the buyer to come back in and sign the paperwork. It was sitting on their forecourt awaiting prep and someone just came in and bought it straight away.
So, after 3 years of driving an E 63 S, i've apparently sold it for the same as i paid for it from the dealer.
All it's cost me is *quite a few* rear tyres and litres of premium unleaded.
Pretty pleased with that, but as others have already said, this is a bubble that is obviously going to burst at some point.

[Isleaiw]

WBAC dropped a £1,000 on my car in a week. Glad I've already moved it on

Ditto: My Macan SD sold early October is down by over £5k at the best, so I'm also smiling. As recently published in the Express prices are falling and due to plummet in the new year, and I'm already now starting to see dealers putting on sales and black Friday deals with reduced prices, obviously trying to shift a bit of stock before it happens as they obviously brought high but should be slightly offset by the high returns gained on the way up, but some may catch a cold.

I dont read the Express (or any other sensationalistic rag to be honest) - what are their justifications for prices falling in the new year? Given the cause of the prices rises includes lack of supply and chip shortages - which are not likely to end soon - along with disruption to production caused by the pandemic - have you seen what is happening in Germany and the rest of Europe?

I have no need to sell or buy so its of no interest to me personally but I am interested in how the journo (I use that term loosely) justify that pronouncement - which is at odds with most other people....

[sd1985]

I know someone that sold his macan base 2ltr.

Just shy of 3 years old, he bought it 6 months old for £52.5k (think brand new it was £56k). So he has owned it for 2.5 years.

He sold it for £46.5k. So that’s £6k depreciation over 2.5 years (30 months). So in real terms he’s paid about £200 per month to drive it. Which is insane right?

The car is almost out of warranty, will likely need new tyres soon as well and potentially brake pads (all of which would have cost around £3k I reckon) - so he has avoided all those costs as well.

Crazy to think that you can get a brand new base macan for £48.9k (£48k before the most recent rise) albeit with no optional extras or pay more for a 3 year old one with some extras (assuming whoever bought the car off him advertises it for £50k)

Great deal for him.

[GTB]

I think drop in valuations depends on the 2nd hand car being traded in. My own E class merc has on We buy Any Car dropped £1,350 in value over the last three months, saying that vehicle now has a further 2k miles on it.
On Motorway value in the same three month period has dropped £1k in value.
That said Motorway was always the highest valuation with £3k higher than We Buy.

Im in very positive territory after my PCP completed last August, just need to keep my eyes on things between now and when I get a confirmed build date etc on my new GTS.

Mind you the way things are going my Merc may be classed as a "Classic" by then..................

Cheers GTB

[PorscheMack]

I think some Dealers are close to or in a Overstock situation which no doubt will impact used values. Also not sure whether December is traditionally a good month for Dealer sales. These 2 things alone could slow down or reverse the current trend.

[EDZ]

WBAC dropped a £1,000 on my car in a week. Glad I've already moved it on

Ditto: My Macan SD sold early October is down by over £5k at the best, so I'm also smiling. As recently published in the Express prices are falling and due to plummet in the new year, and I'm already now starting to see dealers putting on sales and black Friday deals with reduced prices, obviously trying to shift a bit of stock before it happens as they obviously brought high but should be slightly offset by the high returns gained on the way up, but some may catch a cold.

I dont read the Express (or any other sensationalistic rag to be honest) - what are their justifications for prices falling in the new year? Given the cause of the prices rises includes lack of supply and chip shortages - which are not likely to end soon - along with disruption to production caused by the pandemic - have you seen what is happening in Germany and the rest of Europe?

I have no need to sell or buy so its of no interest to me personally but I am interested in how the journo (I use that term loosely) justify that pronouncement - which is at odds with most other people....

I'm not a reader or believer of most press stories, but happened to be on a train where as someone had left the paper and the headline caught my eye so had a quick read. They were stating that many automotive experts were predicting a plummet in second hand prices !! one being I believe the founder of "chose my car.com" so they were quoting other named persons predictions. So a little more believable than normal and not an entirely press start a rumour story, but backed by named automotive experts. There words not mine.

[Isleaiw]

Ditto: My Macan SD sold early October is down by over £5k at the best, so I'm also smiling. As recently published in the Express prices are falling and due to plummet in the new year, and I'm already now starting to see dealers putting on sales and black Friday deals with reduced prices, obviously trying to shift a bit of stock before it happens as they obviously brought high but should be slightly offset by the high returns gained on the way up, but some may catch a cold.

I dont read the Express (or any other sensationalistic rag to be honest) - what are their justifications for prices falling in the new year? Given the cause of the prices rises includes lack of supply and chip shortages - which are not likely to end soon - along with disruption to production caused by the pandemic - have you seen what is happening in Germany and the rest of Europe?

I have no need to sell or buy so its of no interest to me personally but I am interested in how the journo (I use that term loosely) justify that pronouncement - which is at odds with most other people....

I'm not a reader or believer of most press stories, but happened to be on a train where as someone had left the paper and the headline caught my eye so had a quick read. They were stating that many automotive experts were predicting a plummet in second hand prices !! one being I believe the founder of "chose my car.com" so they were quoting other named persons predictions. So a little more believable than normal and not an entirely press start a rumour story, but backed by named automotive experts. There words not mine.

Thanks. MY SIL works for a well known dealer group and they are certainly not planning for much better supply next year (although if interest rates rise and prices continue to rise (or surge as the Express would say!) then demand may fall)....

I think there will be some return to normality over a while but cars from 2020 and 2021 will always be from a time of fewer new regs and therefore by default, prices should be protected a little...

[EDZ]

I dont read the Express (or any other sensationalistic rag to be honest) - what are their justifications for prices falling in the new year? Given the cause of the prices rises includes lack of supply and chip shortages - which are not likely to end soon - along with disruption to production caused by the pandemic - have you seen what is happening in Germany and the rest of Europe?

I have no need to sell or buy so its of no interest to me personally but I am interested in how the journo (I use that term loosely) justify that pronouncement - which is at odds with most other people....

I'm not a reader or believer of most press stories, but happened to be on a train where as someone had left the paper and the headline caught my eye so had a quick read. They were stating that many automotive experts were predicting a plummet in second hand prices !! one being I believe the founder of "chose my car.com" so they were quoting other named persons predictions. So a little more believable than normal and not an entirely press start a rumour story, but backed by named automotive experts. There words not mine.

Thanks. MY SIL works for a well known dealer group and they are certainly not planning for much better supply next year (although if interest rates rise and prices continue to rise (or surge as the Express would say!) then demand may fall)....

I think there will be some return to normality over a while but cars from 2020 and 2021 will always be from a time of fewer new regs and therefore by default, prices should be protected a little...

I agree with your last statement and one of the reasons I'm buying a new ICE car now, and spec it a little higher than normal (could be a keeper) No one really knows how the future automotive industry will pan out, just that we know big changes are on the horizon.