Car Prices... what the...

little_green

Herzlos said:

There are some great deals if you want to trade a used car in for an new one, or if you want to downgrade drastically.

But for anyone wanting to upgrade used to used it's a bad move.

What deals specifically & why is used to used bad. I ask bc that's the move I'm about to make so need spoken out of it if it's a bad move lol

motorguy

little_green said:

Herzlos said:

There are some great deals if you want to trade a used car in for an new one, or if you want to downgrade drastically.

But for anyone wanting to upgrade used to used it's a bad move.

What deals specifically & why is used to used bad. I ask bc that's the move I'm about to make so need spoken out of it if it's a bad move lol

Used prices are up generally, so whilst you might be getting more for your trade in, the cost of what you're buying will be up more too.

In the new car market there are still some good deals to be had.

The perfect scenario would be getting the uplifted price for your used car, but getting the full previous discount on a brand new car.

dipsomaniac

Jenni_D said:

If your car is valued in the £200 range then, by definition, it is far from "perfect". 🙄

It's road worthy and starts every morning - that's all that matters to me😀

Herzlos

little_green said:

Herzlos said:

There are some great deals if you want to trade a used car in for an new one, or if you want to downgrade drastically.

But for anyone wanting to upgrade used to used it's a bad move.

What deals specifically & why is used to used bad. I ask bc that's the move I'm about to make so need spoken out of it if it's a bad move lol

Used car values are up about 25% in the last year, on average.

So that means if your car was worth £10k, it's now worth £12.5k. But it also means the £20k you were going to upgrade to is now £25k. Thus you're £2.5k worse off.

If you were trading the other way you'd be £2.5k better off.

It's not such a big deal going new as there are incentives and some new cars are worth virtually the same as 2/3 year old models, so new is a great deal especially if you're getting more from the trade in.

Herzlos

dipsomaniac said:

Jenni_D said:

If your car is valued in the £200 range then, by definition, it is far from "perfect". 🙄

It's road worthy and starts every morning - that's all that matters to me😀

But it has essentially no value to anyone else, or WBAC would be offering more than £150 on it. It's got nowhere to go.

And that must be the case, since I'm getting WBAC quotes of £6500 on a 7 year old Skoda.

Ibrahim5

My £100 car has a diesel engine that should do half a million miles and has done less than half of that. The bodywork is fine. Everything works well. Surely the answer to less new car production is to mend old cars and keep them on the road. There must have been some great cars scrapped in the last few years.

dipsomaniac

Herzlos said:

dipsomaniac said:

Jenni_D said:

If your car is valued in the £200 range then, by definition, it is far from "perfect". 🙄

It's road worthy and starts every morning - that's all that matters to me😀

But it has essentially no value to anyone else, or WBAC would be offering more than £150 on it. It's got nowhere to go.

And that must be the case, since I'm getting WBAC quotes of £6500 on a 7 year old Skoda.

WBAC algorithm doesn't factor in common sense or vanity

little_green

Herzlos said:

little_green said:

Herzlos said:

There are some great deals if you want to trade a used car in for an new one, or if you want to downgrade drastically.

But for anyone wanting to upgrade used to used it's a bad move.

What deals specifically & why is used to used bad. I ask bc that's the move I'm about to make so need spoken out of it if it's a bad move lol

Used car values are up about 25% in the last year, on average.

So that means if your car was worth £10k, it's now worth £12.5k. But it also means the £20k you were going to upgrade to is now £25k. Thus you're £2.5k worse off.

If you were trading the other way you'd be £2.5k better off.

It's not such a big deal going new as there are incentives and some new cars are worth virtually the same as 2/3 year old models, so new is a great deal especially if you're getting more from the trade in.

Ah the car I have at the moment is 7 years old and worth about 3k (at a push) wbac (though I'd be reluctant to sell to them) quote 2k so maybe could get 3 via private sale not sure what a dealer would offer. But the new car I Iike is around 23k brand new & 17-20k for 1/2 years old .... So I don't really feel like I'm getting a deal. But I think I understand now you mean it's a deal if you have a more expensive car & are going for something cheaper, right. 

Grumpy_chap

little_green said:

the new car I Iike is around 23k brand new & 17-20k for 1/2 years old .

Check online brokers as you may be able to get brand new very close to that 1/2 years old price.  Not sure what type of car you are actually considering.

ontheroad1970

little_green said:

Herzlos said:

There are some great deals if you want to trade a used car in for an new one, or if you want to downgrade drastically.

But for anyone wanting to upgrade used to used it's a bad move.

What deals specifically & why is used to used bad. I ask bc that's the move I'm about to make so need spoken out of it if it's a bad move lol

Look not just at what you will get for yours but the 'cost to change'.  That's the most important figure.