Used car prices

n217970

Is it just me or do used car prices seem really high? 2.5 years ago I bought a cheap workhorse for my long commute - 2005 Volvo S60 D5 150k miles for £1600. When I look now £1600 still gets you a 2005 S60 D5 with 150k miles on it.

Is this the fall out from the drive to get old cars off the road or is it something to do with "Brexit"? I thought £2k would at least get into the 2007 high milers now...

tykesi

n217970 wrote: »

I thought £2k would at least get into the 2007 high milers now...

Maybe it can but you seem to have only looked at what£1600 can get you so what's the point of quoting £2k?

n217970

:eyeroll: the £1600 was to show a direct comparison....

lopsyfa

Some examples for you:
2007:
http://www.autotrader.co.uk/classified/advert/201708038007628?maximum-mileage=150000&sort=sponsored&advertising-location=at_cars&year-to=2007&make=VOLVO&year-from=2007&radius=1500&model=S60&postcode=s669fj&onesearchad=Used&onesearchad=Nearly%20New&onesearchad=New&page=1

http://www.autotrader.co.uk/classified/advert/201708088133783?year-to=2007&maximum-mileage=150000&radius=1500&advertising-location=at_cars&make=VOLVO&model=S60&year-from=2007&onesearchad=Used&onesearchad=Nearly%20New&onesearchad=New&sort=sponsored&postcode=s669fj&page=1

2005:
http://www.autotrader.co.uk/classified/advert/201707267748277?maximum-mileage=150000&year-to=2005&postcode=s669fj&radius=1500&advertising-location=at_cars&model=S60&sort=sponsored&onesearchad=Used&onesearchad=Nearly%20New&onesearchad=New&year-from=2005&make=VOLVO&page=1

Where are you searching?

n217970

not far enough it would seem - comparable cars to those near me are in the 3k range!

mark5

New cars seem to have risen in price over the last decade so it makes sense that the resale value will be higher even at 10 years old.

There's probably many factors though, scrappage schemes, customer demand, running costs, the amount of new cars being bought allowing older cars to be traded down the line.

Buyers choice of new car the last 10 years meaning which cars are now available 2nd hand 5-6 years later, there were new Volvo's everywhere a few years back but I rarely see them now!

wgl2014

Bear in mind depreciation slows and even stops as cars get older.
Once a car drops in value to £1500 or thereabouts condition becomes the important factor.
(Obviously depends on the car in question)

motorguy

n217970 wrote: »

Is it just me or do used car prices seem really high? 2.5 years ago I bought a cheap workhorse for my long commute - 2005 Volvo S60 D5 150k miles for £1600. When I look now £1600 still gets you a 2005 S60 D5 with 150k miles on it.

Is this the fall out from the drive to get old cars off the road or is it something to do with "Brexit"? I thought £2k would at least get into the 2007 high milers now...

I would say its has been and is the bottom end price for a good S60, so a good 2005 one is still viewed as being worth £1600.