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Used car prices

I've been looking at numerous 2nd hand cars (mainly BMW 5 series tourings (F11s) and F01 7 series cars and the prices aren't too bad. But some are OTT & you get the general feeling a lot are trying it on...

But for me, it's a sellers market currently & not just a buyers market. It's bouyant for a change and competitive...

I think it'll calm down in the next 6 months, but you just never know...
 
andyoz said:
Yes, I haven't seen many over here in NI but I when I first saw a Honda E I didn't even know what it was and followed it for a bit...I've never done that with any EV car before or since...I think the Japanese and Koreans will really take this chance to separate themselves from the rest in the styling dept.

Health Experts calls for us to reduce our 'Screen Time' aren't really being taken on board though are they...even the rear view mirror is a screen...I mean how much info do you actually need to pilot a bloody car...:) :)

honda-e-05.jpg
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I think that’s the first time I’ve seen what the display from wing cameras looks like. Is it as usable as glass ones? I was amused at the dealers the other day to see that a wing camera was populated by the same type of spider as I see in my mirror. But at least it had nowhere to hide and is now history.
 
Sue Pertwee-Tyr said:
I gather Covid has caused a bit of a boom in the used car market. I’ve been considering getting a Volvo V60 Cross Country, the last model, with the 2.4 diesel and 4x4. I’ve monitored prices and, since the new model came out, prices had been drifting down nicely, from early 20s last year to upper-mid teens of thousands earlier this year, for a 3-4 year old. The approved used models are all now back at £20k or well above, from about £16-18k literally last month. What’s going on?
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Been witnessing the same, been watching the M240i convertible drop to the high teens, now the cheapest are low 20s
 
In March 2020 I bought a 2016 MX5 with 28k on the clock and paid £12k.
Last week I sold it to WBAC with 40k on the clock for £15.7k (against an online valuation of £16.5k).
The WBAC process was quick and hassle free.
 
hifilover1979 said:
I've been looking at numerous 2nd hand cars (mainly BMW 5 series tourings (F11s) and F01 7 series cars and the prices aren't too bad. But some are OTT & you get the general feeling a lot are trying it on...

But for me, it's a sellers market currently & not just a buyers market. It's bouyant for a change and competitive...

I think it'll calm down in the next 6 months, but you just never know...
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Is this worth considering?

https://www.avforums.com/threads/volvo-v70-d5-2008-37k-miles.2376192/
 
I just looked up some listings for my car. It's two years old, and used prices right now are higher than what I paid new.

If I were to be involved in a collision, I bet the insurance company wouldn't give me anything near what it would cost to replace the car.
 
Yank said:
I just looked up some listings for my car. It's two years old, and used prices right now are higher than what I paid new.

If I were to be involved in a collision, I bet the insurance company wouldn't give me anything near what it would cost to replace the car.
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They would, at least in the UK. You make a complaint to the ombudsman. If prices have gone up, they have to pay more, just as if prices collapse you'll get less.
 
AnilS said:
Is this worth considering?

https://www.avforums.com/threads/volvo-v70-d5-2008-37k-miles.2376192/
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That's a good deal. I had one of the same vintage from new and otherwise great cars, but because it is an early DPF calibration, the fuel consumption was a lot worse than my previous older shape V70 D5 (20% worse). Volvo did a recall as so much of the fuel was ending up in the sump it was a fire risk, but the recalibration was only slightly better in consumption.
 
hifilover1979 said:
I think it'll calm down in the next 6 months, but you just never know...
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Based on current delivery times for new cars that would be right.

Stand by for the market being flooded with all the cars people bought to avoid public transport during the epidemic and now can't afford to run or don't need because they are ready to go back on the bus / train or are now working full time from home.

As I can't find what I want in the second-hand market, my current plan is to flog my car while prices are high and run a cheap shed / luxobarge until the right car comes along.
 
When new cars become readily available again, either their price jumps or the used market crashes back again. Why buy a 3 year old car at very close to the new price and lose out on warranty?
 
davidsrsb said:
When new cars become readily available again, either their price jumps or the used market crashes back again. Why buy a 3 year old car at very close to the new price and lose out on warranty?
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One things for sure...just as car prices increased quickly they can also do the reverse. What we're seeing now isn't the 'new normal', it's a blip....the chip shortage will be sorted.
 
As well as a shortage of new and used cars, there’s a shortage of parts too. A friend just waited three weeks for a new battery (under warranty) for his nine year old C63, for example. Plenty of other stories around, so selling a trusted used car to buy an unknown quantity could prove troublesome.
 
davidsrsb said:
When new cars become readily available again, either their price jumps or the used market crashes back again. Why buy a 3 year old car at very close to the new price and lose out on warranty?
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@davidsrsb
If you need a car, you need a car. Main dealer showrooms are bare, and waiting times are long. So your point about a new car with warranty isn’t valid at the moment.
 
AnilS said:
:D:p:D

I know you're a BMW man but it looked ok

Personally, I'd go 7 series. ;)
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Haha ;) Not into Ovlovs at all unfortunately. I have been watching a few Jap import V70 R AWD estates; but they're pricey and TBH I'd be starting all over again with one of those and that's not what I want to do...

I am tempted with an F11 touring; but not keen on the 520D and I'm not happy with the 530D prices currently and the 7'er is really what I'd like to get back to. Either an immaculate E65 750i or a decent-spec'd F01 730D. I have seen a few F01 750i's, but their prices are strong/high and not sure whether I want to spend that much!
 
andyoz said:
One things for sure...just as car prices increased quickly they can also do the reverse. What we're seeing now isn't the 'new normal', it's a blip....the chip shortage will be sorted.
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I’m not so sure it is a blip. Compared to Western Europe and North America, used cars in the UK have historically been extremely cheap. I think the finance arms of UK dealers have seen the opportunity to make as much, or more again, on used stock through PCP deals etc. Keep prices higher = more return on the sum financed. I think this is also part fuelled (excuse the pun) by the realisation by the manufactures that a great majority will not be able to make the huge financial jump from older ICE vehicle to the ‘new normal’ £40/50/60k EV vehicle. Good, well kept ICE cars are going to be in demand for quite some time yet and dealers/finance houses know that.
 
stevied said:
I’m not so sure it is a blip. Compared to Western Europe and North America, used cars in the UK have historically been extremely cheap. I think the finance arms of UK dealers have seen the opportunity to make as much, or more again, on used stock through PCP deals etc. Keep prices higher = more return on the sum financed. I think this is also part fuelled (excuse the pun) by the realisation by the manufactures that a great majority will not be able to make the huge financial jump from older ICE vehicle to the ‘new normal’ £40/50/60k EV vehicle. Good, well kept ICE cars are going to be in demand for quite some time yet and dealers/finance houses know that.
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That's potentially the case but the flip side is also as relevant. I sure know which story dealers etc are spreading
 
stevied said:
I’m not so sure it is a blip. Compared to Western Europe and North America, used cars in the UK have historically been extremely cheap. I think the finance arms of UK dealers have seen the opportunity to make as much, or more again, on used stock through PCP deals etc. Keep prices higher = more return on the sum financed. I think this is also part fuelled (excuse the pun) by the realisation by the manufactures that a great majority will not be able to make the huge financial jump from older ICE vehicle to the ‘new normal’ £40/50/60k EV vehicle. Good, well kept ICE cars are going to be in demand for quite some time yet and dealers/finance houses know that.
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I'm sure it's a blip. You don't change culture overnight a the UK s drivers are in love with new cars. Plenty of them burn fossils.
 
stevied said:
Compared to Western Europe and North America, used cars in the UK have historically been extremely cheap
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The 3 year price halving time never applied to most brands where I am. Japanese are closer to 6, European around 4 as they start from a very high point with high duty and spares are taxed heavily too. The local brand has the fastest fall.
This happens because we barely have a MOT like system and cars don't rust much in the tropics. Too much electronics and shortage of spares after 10 years is going to break this model. Already the most stolen model here is the old Proton Wira, being cannibalised for parts
 
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