how to reduce the cost of used cars

motorguy

cypher007 said:

prices have been predicted to drop 16% back in December 2021. that was before considerable financial pressure was introduced.

all im saying is i know some people who change car just because theyre bored of it not because its broken. or some who lease or pcp every 3 years. the last car change we had to do was because the wifes car was written off not because we wanted a change. we had had that car 11 years. im currently driving a 15 year old car that i bought in 2018 as an interim car while i searched for what i wanted. the trouble is with shielding i wasnt able to go out and view cars so waited until the vaccines came on tap. then when i started looking instead of the prices being depressed because of all the businesses failing and furlough, they had actually gone up.

what made economic sense to say my parents generation seems completely alien to the current one.

Who by?

Its a no to predicting a drop, by Car Dealer Magazine..

https://cardealermagazine.co.uk/publish/exclusive-what-will-happen-to-used-car-prices-in-2022-will-they-crash-or-continue-to-soar-seven-experts-reveal-all/251234

"Used car prices to remain very high" - Motor trader news

https://www.motortrader.com/motor-trader-news/automotive-news/used-prices-set-remain-high-2022-says-indicata-24-01-2022

Heres a big one - CAP HPI predicting prices will continue to rise

https://www.askthecarexpert.com/used-car-prices/

"Used car market will remain 'incredibly busy' in 2022" - Daily Express

https://www.express.co.uk/life-style/cars/1541989/used-car-second-hand-sales-best-time-to-buy-2022

motorguy

cypher007 said:

prices have been predicted to drop 16% back in December 2021. that was before considerable financial pressure was introduced.

all im saying is i know some people who change car just because theyre bored of it not because its broken. or some who lease or pcp every 3 years. the last car change we had to do was because the wifes car was written off not because we wanted a change. we had had that car 11 years. im currently driving a 15 year old car that i bought in 2018 as an interim car while i searched for what i wanted. the trouble is with shielding i wasnt able to go out and view cars so waited until the vaccines came on tap. then when i started looking instead of the prices being depressed because of all the businesses failing and furlough, they had actually gone up.

what made economic sense to say my parents generation seems completely alien to the current one.

And?

You seem annoyed that you were expecting to suit yourself and grab a bargain and the reverse has been true.  The market is what it is, you got it wrong - as did many.

If you buy a car and normally drive it a long time, then simply decide what car you want, go on to autotrader for that specific year, make, model, spec, miles, sort by lowest price and try to chip them back as much as you can.   Theres probably £4K difference between the cheapest and the most expensive, so find the cheapest and be prepared to travel.

If you end up paying a bit more overall, whats say, £1,000 over 10 years really going to matter?

That seems to be an awful lot more viable as a solution than trying to persuade all car buyers to stop buying, to force a price drop, so you can get a car at the price you want.

motorguy

"If you buy a car and normally drive it a long time, then simply decide what car you want, go on to autotrader for that specific year, make, model, spec, miles, sort by lowest price and try to chip them back as much as you can.   Theres probably £4K difference between the cheapest and the most expensive, so find the cheapest and be prepared to travel."

I just tested my own theory there.  Tried two.  At random.

2019 Skoda Octavia 1.0TSI SE Technology

Cheapest, £12,700.  Most expensive, £17,000.  Difference £4,300.

2019 Ford Focus 1.0T ST-Line

Cheapest, £14,999.  Most expensive, £21,000.  Difference - £6,001.

cypher007

motorguy said:

cypher007 said:

also if new cars arent being produced why arent we hearing of mass redundancies in the car manufacturing and sales areas? yes there maybe a slowing of production but those factories cannot continue being idle for ever.

with the lockdowns and working from home, like i did for almost 18 months, i would have thought some companies would have seen the financial benefit of office workers working from home, in that they dont need to rent office space. i know poor old Borises mates who run pubs and coffee chains in ciity centers wants people back in offices, but to my mind this is insane. sitting in fossil fuel burning car for potentially hours stuck in traffic causing inner city pollution, when they can remote work and save travelling expenses and the planet at the same time.

I dont see how thats relevant?

Its a different issue entirely.

People can either work from home of they cant, generally speaking.  So if they need a car because they work in a factory, then they need a car.

thats why i said office workers, as like you say not every job can be done remotely. but i still think we need to move forward with working from home to help the environment, congestion, and peoples finances.

photome

You have 2 posts now , saying prices are predicted to fall by 20% and then another by 16%. I asked who is predicting these price falls.

have I missed you answer ?

cypher007

photome said:

You have 2 posts now , saying prices are predicted to fall by 20% and then another by 16%. I asked who is predicting these price falls.

have I missed you answer ?

https://www.askthecarexpert.com/used-car-prices/

The 16% fall was what CAP HPI were saying, which was before all the bills and interest rates went up.

Quote “So the message is: if you’re looking for a used car bargain, be patient.”

400ixl

Seeing as their first assumption in that more stock will become available in early 2022 has already failed to be true the rest must be disregarded. Their view is also a drop in a sea of opinion that goes the other way. Best not to take one outlying view and hold it dear because it matches what you want to hear.

The component suppliers have already said that their existing and coming on stream extra capacity capacity has sold out for all of 2022 would suggest that supply chains may increase, but they will not meet demand. So there may be some releif in the price but likely to be later than the summer.

As for people working from home more, yes, hybrid / home working should be encouraged as it is good for the environment. It doesn't however change people's disposable income, more likely increases it as travel costs will be less. That doesn't change that people should be free to decide for themselves what vehicle they wish to own and how old they want it to be.

These threads all seem to boil down to the fact that you have what is now an ageing car that you want to replace, but the current higher pricing means that you cannot afford what you would like and you want others to not buy so the prices drop so that you can buy what you want at the price you want. There is a certain level of irony there in that you will then be one of the people causing the problem you are complaining about.

Everyone has the right to buy what they want, when they want for the price they feel is acceptable. Equally people have the right to abstain in the hope that prices will reduce in the timeframe they are able to wait.

Only you can decide whether you wait or not.

force_ten

i wouldn't hold your breath on prices coming down any time soon the article above was written before the current world situation escalated and with the price of raw materials and fuel set to rise more than they have already the the market is only going one way at the moment and that is up 

jimjames

400ixl said:

Are people supposed to have put off buying a car for the last 18 months with no end date in sight as to when they should buy at "normal" prices?

Problem is that the second hand market for 2-3 year old cars will also then reflect the much lower new sales from 2020-23 so supply and demand will probably keep them high for some time.

[Deleted User]

There is a lot of pent up demand so even when the supply of new cars gets better it will take time for used prices to go back to normal.

Don't forget brexit too, it's been masked by the pandemic but we will have to pay the extra cost of that from now on.