We buy any car

MouldyOldDough

We sold my wifes Suzuki Swift SZ4 automatic to WBAC for a remarkable £7500
The car is 63 reg and in good condition with 20k miles on the clock - it cost £11.,750 - almost 9 years ago
I know that there is a shortage of second hand cars but this was unexpected! 

caprikid1

2013 Suzuki Swift 1.2 SZ4 5dr Auto Hatchback Petrol Automatic | eBay

Looks like there is still money to be made by them...

MouldyOldDough

They started at £8,000 but knocked £500 off for scratches
So it appears that 2nd hand suzukis hold their value pretty well? 

MouldyOldDough

They will add another £2000 profit /warranty /costs /vat? to this price so -  at least £10,000

motorguy

MouldyOldDough said:

They started at £8,000 but knocked £500 off for scratches
So it appears that 2nd hand suzukis hold their value pretty well? 

All cars are up in value right now.  Its not Suzuki specific.  Great news in theory when selling but people usually are selling to replace the car with something different / newer and the prices of those are all up too.

oscarward

My wife just priced her Lexus on WBAC , was surprised to find the value was only a few thousand less than what she paid for it 4 years ago.

seatbeltnoob

Wow, for a 2013 car, that is just insane. Pre pandemic, Joe public had the opinion that a 10 year old car I'd a ticking time bomb.

I do think it's a market correction, people in Mediterranean countries and Eastern Europe use to remark how cheap cars are over here. So many perfectly good cars ended up scrapped because they were just valued below £500 and didn't have economic value. Nobody wants to drive a car that cheap. Young drivers are penalised from driving altogether due to high jnsurance and older drivers don't want to be seen in a £500 car

RichardD1970

My wife's 65 reg Picanto which she bought for just over £7000 in Dec 2017 is coming out at £6230 on WBAC.

tommyedinburgh

When do we think the used car market bubble will burst and prices come down? 

ex-pat_scot

tommyedinburgh said:

When do we think the used car market bubble will burst and prices come down? 

Another year, at least.
Not until the semiconductor supply chain settles down.
Car manufacturers are a long way down the supplier priority list - there are far too many eletronics companies desperate for servers and computing, and buying chips in a much higher volume than the car manufacturers can.

Once the supply of new cars settles back into a rhythm, then gradually the 2nd hand prices will adjust to suit.
I figure it's probably 18 months if there are no further fundamental shocks to the system.

tommyedinburgh

ex-pat_scot said:

tommyedinburgh said:

When do we think the used car market bubble will burst and prices come down? 

Another year, at least.
Not until the semiconductor supply chain settles down.
Car manufacturers are a long way down the supplier priority list - there are far too many eletronics companies desperate for servers and computing, and buying chips in a much higher volume than the car manufacturers can.

Once the supply of new cars settles back into a rhythm, then gradually the 2nd hand prices will adjust to suit.
I figure it's probably 18 months if there are no further fundamental shocks to the system.

Looks like my banger is here to stay a while yet.