Even more new car problems

BOWFER

On top of the semi-conductor shortage, now a "catastrophic" shortage of magnesium (used in the production of aluminium parts).
Can't be stored for any great length of time as it oxidises, so car factories expected to run out of stockpiles in November.
87% of the worlds production centred around one city in China, 50 per cent of the factories there told to shut down due to power cuts in China.
Anyone wondering how long used car prices will stay high......a long time yet.

motorguy

BOWFER said:

On top of the semi-conductor shortage, now a "catastrophic" shortage of magnesium (used in the production of aluminium parts).
Can't be stored for any great length of time as it oxidises, so car factories expected to run out of stockpiles in November.
87% of the worlds production centred around one city in China, 50 per cent of the factories there told to shut down due to power cuts in China.
Anyone wondering how long used car prices will stay high......a long time yet.

Yes, high used prices could become the new normal.  

But then, maybe we all need to rethink our car usage.  Many people - even though they WFH now - still trying to change their cars every three years.  Maybe that model is no longer viable?

BOWFER

motorguy said:

BOWFER said:

On top of the semi-conductor shortage, now a "catastrophic" shortage of magnesium (used in the production of aluminium parts).
Can't be stored for any great length of time as it oxidises, so car factories expected to run out of stockpiles in November.
87% of the worlds production centred around one city in China, 50 per cent of the factories there told to shut down due to power cuts in China.
Anyone wondering how long used car prices will stay high......a long time yet.

Yes, high used prices could become the new normal.  

But then, maybe we all need to rethink our car usage.  Many people - even though they WFH now - still trying to change their cars every three years.  Maybe that model is no longer viable?

Maybe.
Possible that in 2.5 years time I'll look at the balloon payment of our cars and snatch their hand off to keep them at that price, rather than getting new ones.

hiphopopotamus

Payed a balloon payment of £6600 to keep my car last year. They’re offering me £12800 to trade it back in now. Crazy.

Not sure what to do for the best as it seems there’s very little stock of new cars anywhere.  Have been quoted 20week+ wait lists.

motorguy

BOWFER said:

motorguy said:

BOWFER said:

On top of the semi-conductor shortage, now a "catastrophic" shortage of magnesium (used in the production of aluminium parts).
Can't be stored for any great length of time as it oxidises, so car factories expected to run out of stockpiles in November.
87% of the worlds production centred around one city in China, 50 per cent of the factories there told to shut down due to power cuts in China.
Anyone wondering how long used car prices will stay high......a long time yet.

Yes, high used prices could become the new normal.  

But then, maybe we all need to rethink our car usage.  Many people - even though they WFH now - still trying to change their cars every three years.  Maybe that model is no longer viable?

Maybe.
Possible that in 2.5 years time I'll look at the balloon payment of our cars and snatch their hand off to keep them at that price, rather than getting new ones.

Exactly that.  Could make perfect sense to pay the balloon either outright or with a cheap loan at an incredibly low APR.

motorguy

hiphopopotamus said:

Payed a balloon payment of £6600 to keep my car last year. They’re offering me £12800 to trade it back in now. Crazy.

Not sure what to do for the best as it seems there’s very little stock of new cars anywhere.  Have been quoted 20week+ wait lists.

Yes, getting a new car thats in stock is the trick currently and none of these places will guarantee a future price for your trade in.

DrEskimo

BOWFER said:

motorguy said:

BOWFER said:

On top of the semi-conductor shortage, now a "catastrophic" shortage of magnesium (used in the production of aluminium parts).
Can't be stored for any great length of time as it oxidises, so car factories expected to run out of stockpiles in November.
87% of the worlds production centred around one city in China, 50 per cent of the factories there told to shut down due to power cuts in China.
Anyone wondering how long used car prices will stay high......a long time yet.

Yes, high used prices could become the new normal.  

But then, maybe we all need to rethink our car usage.  Many people - even though they WFH now - still trying to change their cars every three years.  Maybe that model is no longer viable?

Maybe.
Possible that in 2.5 years time I'll look at the balloon payment of our cars and snatch their hand off to keep them at that price, rather than getting new ones.

Why wait?

How much is the total interest charge on the finance?

Settle it today and you'll save yourself a big chunk of that.

RichardD1970

Lots at work are handing their cars back and making good money.  (We participate in the Ford Privilege Scheme)

One got £9,000 back for his Kuga and lots are getting around £6,000.

Most are using the opportunity to get off the PCP merry-go-round.

photome

The we buy any car valuation for one of our cars kept increasing week on week for past few months until last week when it dropped by £400, so may be the bubble is bursting

BOWFER

DrEskimo said:

BOWFER said:

motorguy said:

BOWFER said:

On top of the semi-conductor shortage, now a "catastrophic" shortage of magnesium (used in the production of aluminium parts).
Can't be stored for any great length of time as it oxidises, so car factories expected to run out of stockpiles in November.
87% of the worlds production centred around one city in China, 50 per cent of the factories there told to shut down due to power cuts in China.
Anyone wondering how long used car prices will stay high......a long time yet.

Yes, high used prices could become the new normal.  

But then, maybe we all need to rethink our car usage.  Many people - even though they WFH now - still trying to change their cars every three years.  Maybe that model is no longer viable?

Maybe.
Possible that in 2.5 years time I'll look at the balloon payment of our cars and snatch their hand off to keep them at that price, rather than getting new ones.

Why wait?

How much is the total interest charge on the finance?

Settle it today and you'll save yourself a big chunk of that.

not interested

BOWFER

photome said:

The we buy any car valuation for one of our cars kept increasing week on week for past few months until last week when it dropped by £400, so may be the bubble is bursting

Maybe the demand for that particular car has slumped a bit, but still plenty of people getting increased offers week-on-week.