Used Car Values !!

Indout96

Indout96 said:

Car before that was a Volvo C30 SE Lux which I bought in June 2016 for £6,750, we gave it to my daughter when I bought the Civic, just put that through WBAC and they are saying £5,000 so a £1,750  loss in 6 1/2 years.  

Just a quick update on this as my daughters car was written off by her insurance last week (hit by drunk driver whilst parked) we ran WBAC again and it had dropped on there to £4k since Jan but the insurers paid out £5.5k (less excess) so in total a loss from buying of only £1,250 in 7 years and almost 50k miles and 2 more owners 
This was the first offer from the insurers which she accepted as she had a replacement car lined up so she "may" have been able to push it up a bit more.

JKenH

29 of top 30 biggest used car price drops in last six months are electric vehicles

The stark figures show the impact of the huge price drops used electric cars have suffered in the last few months as buyer confidence has waned and consumers shun the used EV market. 

https://cardealermagazine.co.uk/publish/29-of-top-30-biggest-used-car-price-drops-in-last-six-months-are-electric-vehicles/284860

Herzlos

I'm not sure how much stock I put in that, taking the Vivaro Life at number 27 for example (because it's on my list and I'd buy one for £19,675, but ideally the Elite L):

• Drop: 25.5 per cent
• Lost: £6,750
• From: £26,425
• To: £19,675

But the cheapest one I can find online is £23,495, and that's a 2 year old base spec model on 35k miles: https://www.autotrader.co.uk/car-details/202305317963496

I can see some indication of prices dropping from car gurus; drops in the the £5-7k range but they are on cars that have been listed for 6+ months.

JKenH

Prior to getting paid for my export with Octopus Flux I was seriously considering a Mini Electric (just for a fun runabout) but I have noticed on Autotrader they have been going up in price. It would make a great second car and perhaps that’s why they are going up. You can charge at home for pennies and no problems with public charging.

ididgetwhereiamtoday

JKenH said:

Prior to getting paid for my export with Octopus Flux I was seriously considering a Mini Electric (just for a fun runabout) but I have noticed on Autotrader they have been going up in price. It would make a great second car and perhaps that’s why they are going up. You can charge at home for pennies and no problems with public charging.

Renault Zoe is similar size car with a bigger battery but much cheaper used, than a mini. Might be worth a look.

northwalesd

Johnmcl7 said:

I don't believe that for a moment and those who hang onto petrol cars will be doing it for a reason, I can see enthusiasts wanting to keep a hold of petrols for their noise and feel but once electric cars and their infrastructure improve to the point they are a better choice than existing petrols there's not going to be large numbers of people not changing just to be stubborn and no other reason.

No, it's not as though I have 1800kg of caravan to tow, so no reason at all. Where do I find a reasonably priced EV alternative to lug that?

Grumpy_chap

Herzlos said:

I can see some indication of prices dropping from car gurus; drops in the the £5-7k range but they are on cars that have been listed for 6+ months.

I can't see any indication of car prices softening from what I have been looking at.

There still seems to be a slump in supply, from COVID, Ukraine, supply-chain issues, chip shortage.  Obviously, it is in the car industry interest to promote a slump in supply even if there is none.

That couples with an unnatural stimulus for demand driven by the incoming ULEZ creating a need for a high number of forced changes that would not otherwise happen, or would ride the storm and delay changes until the market is more favourable.  

I suppose, at some time, more normal supply has to resume and prices will move in favour of the buyer.  Guessing when that could be seems impossible.

As an aside, I have noted a high number of older cars around our way where it is obvious that the owner will drive until August and then scrap once ULEZ is in force.  This is a concern as it would seem these cars are being run on a zero maintenance / zero care basis - a lot of people don't even seem to be bothering to clean the cars, let alone any maintenance.  It makes sense in one regard, but does risk things a bit.

Herzlos

northwalesd said:

Johnmcl7 said:

I don't believe that for a moment and those who hang onto petrol cars will be doing it for a reason, I can see enthusiasts wanting to keep a hold of petrols for their noise and feel but once electric cars and their infrastructure improve to the point they are a better choice than existing petrols there's not going to be large numbers of people not changing just to be stubborn and no other reason.

No, it's not as though I have 1800kg of caravan to tow, so no reason at all. Where do I find a reasonably priced EV alternative to lug that?

Which is frustrating because the torque of an electric car, coupled with the extra weight, should make them great for towing (albeit with a drastically reduced range).

But most of them don't have type approval for it, and those that do have surprisingly low ratings (750-1600kg). To get 1800kg you're looking at a full sized electric SUV.

Using my Vivaro Life example again it's even more annoying; the van version has a 75kwh battery and a 1000kg towing limit but neither are available on the people carrier even though it's the same chassis. 1000kg would do me but for a work van it's pathetic when I'm sure the van could comfortably tow 3500kg.

Kimmie30

To be honest, I don't know many people who recently bought a car without using some form of discount to begin with... there are loads of different ways to save money on cars upfront, including new cars.

JKenH

Italian cars leading the way with the biggest used car price rises

• Alfa Romeo Giulietta rose the most in June compared to last month, says Auto Trader
• Fiat Panda is the biggest riser in last year adding a whopping 17.2% to its value
• Auto Trader data shows used car prices made a surprise upwards move in June

Richard Walker, Data & Insights Director at Auto Trader, said: ‘Despite 38 months of year-on-year growth, we’re still seeing huge price increases on some ICE models, which are massively outperforming the wider market. 

https://cardealermagazine.co.uk/publish/italian-cars-leading-the-way-with-the-biggest-used-car-price-rises/285772