Car Prices... what the...

Grumpy_chap

Some of the advertised prices for used cars seem to be clearly unrealistic.

This 2019 Focus at £20k:
https://www.autotrader.co.uk/car-details/202107295605060

Is extremely similar to this BRAND NEW Focus listed on Broadspeed at £21k:
https://broadspeed.com/CarView/Ford/Focus/53309/EcoBoost_mHEV_1.0_125PS_Petrol_ST-Line_X_Ed_Manual_5_doors

Unless I have missed something big and different in the specs, the new car is the no-brainer.

dipsomaniac

Not all cars are increasing in value. I paid 200 for my focus 18 months ago. Just done a wbac and offered 150. Have spent an extra 200 on it getting it through 2 mots

Exemplar

k3lvc said:

As an example I've a 2016 car - paid £15k for it over a year ago and dealer is offering to buy it back from me for £17k now and will retail it for £20k. It has options on it that aren't currently available on a new one due to chip shortage and has more power than current option.

I'd snap their hand off if I could find anything to replace it - but it's across the board for anything well-specced 

I just traded in my 2019 Kia Sportage. According to their trade in system 16K, I got 20K.

Sea_Shell

What do we think the long game will be here, when (if) prices stabilise?

Will we go back to "normal" depreciation, or will the prices collapse to end up where they would have been under normal circumstances?

So if you'd usually expect to lose £1000-1500 a year, but this year you actually gained £1000, will prices then lose just that £1000 or drop £2500 in one go?

Penelopa.Pitstop

Grumpy_chap said:

Some of the advertised prices for used cars seem to be clearly unrealistic.

Some people went along and put unrealistic prices. I watch number of car models. SLK55, 2015, one owner. In June put on Autotrader at 36.5K. Recently went down to 34.9K. A few days ago, £30K. And maybe now, someone will bite. That's 6 year old car. These cars were cheaper at 3 years old.

Another convertible model, Abarth 124 Spider, prices are similar to 2019, when you could still buy last ones brand new or pre-registered. And someone is buying them at these crazy prices, because they disappear from the market and new ones are showing up, coming from auctions (post lease or PCP).

Mustang GT, 3 years old (2017) used to be 27K. Now 35K and they are 4 years old.

I will wait out the market in leased cars.

pulliptears

Penelopa.Pitstop said:

Grumpy_chap said:

Some of the advertised prices for used cars seem to be clearly unrealistic.

Another convertible model, Abarth 124 Spider, prices are similar to 2019, when you could still buy last ones brand new or pre-registered. And someone is buying them at these crazy prices, because they disappear from the market and new ones are showing up, coming from auctions (post lease or PCP).

The dealer I purchased my used car from in August last year has the same model, same spec, same miles, same year etc example on his site for £4k more than I paid.  It's now sold.

Meanwhile, I have an Abarth Spider that we purchased directly from the lease company in February, We Buy Any Car offers me over £3.5k more than I bought it for.

molerat

New listings for my model age / spec are coming on at £500 more than last week.

Penelopa.Pitstop

pulliptears said:

Penelopa.Pitstop said:

Grumpy_chap said:

Some of the advertised prices for used cars seem to be clearly unrealistic.

Another convertible model, Abarth 124 Spider, prices are similar to 2019, when you could still buy last ones brand new or pre-registered. And someone is buying them at these crazy prices, because they disappear from the market and new ones are showing up, coming from auctions (post lease or PCP).

The dealer I purchased my used car from in August last year has the same model, same spec, same miles, same year etc example on his site for £4k more than I paid.  It's now sold.

Meanwhile, I have an Abarth Spider that we purchased directly from the lease company in February, We Buy Any Car offers me over £3.5k more than I bought it for.

I made a mistake of not buying Abarth from Leasys in January or April, when purchase price was acceptable (17600 January, 17200 April). And then in June it shoot up to 19600. That's why I'm returning the car. Webuyanycar offers 21000 for it now.

Well, my consolation prize in the form of cheap lease on BMW Z4 is coming soon.

pulliptears

Penelopa.Pitstop said:

pulliptears said:

Penelopa.Pitstop said:

Grumpy_chap said:

Some of the advertised prices for used cars seem to be clearly unrealistic.

Another convertible model, Abarth 124 Spider, prices are similar to 2019, when you could still buy last ones brand new or pre-registered. And someone is buying them at these crazy prices, because they disappear from the market and new ones are showing up, coming from auctions (post lease or PCP).

The dealer I purchased my used car from in August last year has the same model, same spec, same miles, same year etc example on his site for £4k more than I paid.  It's now sold.

Meanwhile, I have an Abarth Spider that we purchased directly from the lease company in February, We Buy Any Car offers me over £3.5k more than I bought it for.

I made a mistake of not purchasing Abarth in January or April from Leasys, when price was acceptable. And then in June it shoot up. That's why I'm returning the car. I thought it's a keeper. It will probably show up on Autotrader in November, when Manheim auctions it.

Mine was my sons, he'd leased it when the offers were on them three years ago.  When his lease ended I realise it was a special little car, a plaque model as well and with heritage pack, so asked him to get me a settlement figure from the company.  Couldn't turn it down.
They dropped a bit and then rocketed.  Reasonably rare little cars now.

BOWFER

pulliptears said:

Meanwhile, I have an Abarth Spider that we purchased directly from the lease company in February, 

Good to hear, as there are many on here don't seem to believe you can buy leased cars.
Assuming you do mean lease, of course, and not PCP (fingers crossed you mean lease...)