Car Prices... what the...

photome

You only have to look at dealers forecourts to see how limited the second hand stock is

[Deleted User]

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BOWFER

I was only 9 months into a 4 year PCP on my Polo Gti, but managed to sell it back to the dealer for £500 more than I owed.
Such is the demand for nearly new low mileage cars.
Then picked up a new Nissan Leaf off the dealer forecourt.
From selling Polo Gti to picking up new car, one week.

Nebulous2

I bought a pre-registered van (private vehicle) almost 2 years ago and have done 18000 miles in it. Idly browsing this thread I decided to get a price. Almost £2000 more than I paid for it from We Buy Any Van. 

I've sunk more money than I care to recollect into cars, and apart from two or three bangers I've never made money on them. 

We live in strange times! 

Nebulous2

Here are some figures for the situation we find ourselves in.......

https://www.bbc.co.uk/news/business-58150025

Grumpy_chap

When you go on a popular automobile trader website, before you enter any filters, it gives a number of how many cars they have listed.  That number is normally well north of 500k.  At one point yesterday it had dipped below 400k, but just over 400k this morning:

doningtonphil

I sold my 68 reg Nissan X Trail last month on motorway.co.uk for 18500 as getting a company car.
A dealer offered me 17000 and said that the guides said it had increased in value by £800 in the previous month.
Anyway, just did a theoretical check on WBAC and they are currently offering £19000!
Looking back through my texts, in Feb 21 they offered £13400!
Maybe I should have hung on to it!
How the blazes can a car I
INCREASE in value by almost 50% in 6 months?
Crazy times

tasticz

30% less new car were registered last year also. I would expect prices to increase or tank in coming future.

anyways live your life, your time won’t stop, take a plunge, buy it. It’s only 1.5k ish higher on cars above 10k to 20k. Still good deals to be had. 

Bachelorplace

This may be a dumb question but can I run a scenario past you? To see if you can help me understand it? 

(I have mild dyscalculia)

If your trade in car today is 5k over book and the car you are buying is 5k over book then does this balance things out?

Or .... do you stand to loose more money paying through the nose at this time because of a correction. 

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For reference I don't see a market correction for at least 12 months. Chips take 2 years to make!

facade

I finally cracked and did a WBAC valuation on my car- £28,000!  I paid £19,649 for it in May 2019.

I should have bought two....

Actually, I should have bought bitcoin in 2010......