Car Prices... what the...

motorguy

[Deleted User] said:

motorguy said:

[Deleted User] said:

gord115 said:

Did anyone see Dispatches on Channel 4 last night about car prices?
Surely the bubble will soon burst.

It's the UK. The dealers won't let prices go back to normal, they will keep them permanent elevated. Any "discounts" will be the usual fake sale stuff.

Dealers dont control the market.  Its a balance between supply and demand.

RE: Used cars - Prices are softening a little, but i expect them to drop slowly from where they are now rather than a sudden crash back to where they were pre COVID.

RE: new cars, manufacturers ultimately need volume and market share, so once supply is resolved - which may take several years to fully resolve - i'd expect discounts and palatable deals to become more readily available.  

This would be true if consumers had all the information. Most of us can only shop around, we don't have access to supply data or what the dealer is paying and what discounts they have access to.

You dont need to have access to supply data when the dealer is telling you theres maybe a significant wait for a new car (sometimes a year+ on even cooking variants), nor do you need to know what the dealer is paying to know what % off you're getting.  If in doubt, the broker site prices are a good starting point.

Both of those are almost certainly a lot worse than pre Covid.

Herzlos

It's just supply and demand. There's low supply and high demand just now so a dealer can sell pretty much anything at any price.

Once supply increases, dealers will need to be more competitive otherwise people will buy from someone else.

New car pricing/sales should go back to normal once the manufacturing is back to full capacity and the backlog is dealt with. Used car sales will follow after once the new cars start making it through the system.

Grumpy_chap

I though the crazy car prices were starting to pass but it still seems daft out there.

My nephew had an old Clio and the gear box went, for which he was quoted £1,100 repair.  More than he thought the car was worth so he got rid, still yielding a return of £660.

I gave him my old Focus as he needs a car to go to work.  I was never going to charge him for the car, but I did a check on WBAC and they said my Focus was worth £630.  Quite crazy given August 2021, WBAC said £150 for the Focus.

Is £600ish now the new rock bottom real end of life car value?

ididgetwhereiamtoday

If it’s got a decent MOT and no baldy tyres id give you £630 for your Focus. 

£600 is chicken feed these days. 

photome

Grumpy_chap said:

I though the crazy car prices were starting to pass but it still seems daft out there.

My nephew had an old Clio and the gear box went, for which he was quoted £1,100 repair.  More than he thought the car was worth so he got rid, still yielding a return of £660.

I gave him my old Focus as he needs a car to go to work.  I was never going to charge him for the car, but I did a check on WBAC and they said my Focus was worth £630.  Quite crazy given August 2021, WBAC said £150 for the Focus.

Is £600ish now the new rock bottom real end of life car value?

people are paying more than £600 for a banger to go banger racing with

Herzlos

I doubt you'll find anything under £600 that's still got an MOT. A look on autotrader shows a few cars which are all MOT fails or spares/repair, and I'm up to about £800 before I see anything that claims to work as expected.

The days of the £100 runabout are long gone unless you know people in the trade or repair scenes. My FiL usually buys cars at scrap prices from people who don't think it's worth paying for repairs and then fixes them himself, but realistically he's spent £500 + a few days labour to get them back on the road, by the time you factor in the parts, MOT and so on.

caprikid1

photome said:

Grumpy_chap said:

I though the crazy car prices were starting to pass but it still seems daft out there.

My nephew had an old Clio and the gear box went, for which he was quoted £1,100 repair.  More than he thought the car was worth so he got rid, still yielding a return of £660.

I gave him my old Focus as he needs a car to go to work.  I was never going to charge him for the car, but I did a check on WBAC and they said my Focus was worth £630.  Quite crazy given August 2021, WBAC said £150 for the Focus.

Is £600ish now the new rock bottom real end of life car value?

people are paying more than £600 for a banger to go banger racing with

No idea what they paid for the Jaguar XK150 that was banger raced or what a MK2 Granada costs these days strong enough to race, certainly can't get a capri less than £2K.

Exemplar

Bachelorplace said:

Addendum.... 

5. Is now the first time in history it might be prudent to buy new?

Yup that's what we did. 

ididgetwhereiamtoday

caprikid1 said:

photome said:

Grumpy_chap said:

I though the crazy car prices were starting to pass but it still seems daft out there.

My nephew had an old Clio and the gear box went, for which he was quoted £1,100 repair.  More than he thought the car was worth so he got rid, still yielding a return of £660.

I gave him my old Focus as he needs a car to go to work.  I was never going to charge him for the car, but I did a check on WBAC and they said my Focus was worth £630.  Quite crazy given August 2021, WBAC said £150 for the Focus.

Is £600ish now the new rock bottom real end of life car value?

people are paying more than £600 for a banger to go banger racing with

No idea what they paid for the Jaguar XK150 that was banger raced or what a MK2 Granada costs these days strong enough to race, certainly can't get a capri less than £2K.

I would love a MK2 Granada. I probably can't afford one though.

molerat

To buy my car now with an added 20K miles would be £2K less than I paid for it 3 years ago as a 2 week old pre reg with 8 miles on the clock and they are offering £2.7K less than I paid for it. Equates to £75 per month ! To buy an equivalent spec / age now would be double what they would give me. So prices are still silly.