Any - Used car prices

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Fri 11 Jun 2021 14:37
Any - Used car prices - mcb100
Cardealermagazine.co.uk are reporting that used car prices are continuing to rise, a result of huge demand and limited supply.
April & May saw a rise across the market of 9% in used car prices, and dealers are adjusting prices up on cars in stock. Toyota Auris Hybrid showed a 13.6% price rise for a 2018 car.
We’re now in the position where people could have bought a car 12 months ago, driven it for a year and now sell it on for a profit.
Auctions are at record highs for prices - a recent trade auction of 125 cars showed that 120 had sold for higher than their retail value.
So if you’ve got two cars, and decide you can live with one, now would be a good time to get rid. The downside, if you subsequently decide to replace it, you’ll pay more.
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Fri 11 Jun 2021 14:42
Any - Used car prices - Rerepo

The government have injected huge sums of money into the economy which has spurred price rises across the economy. My feeling is prices will drop back later in the year when people on furlough find they have no job to return to. Also the chip supply problems which have impacted new car production will gradually resolve.

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Sat 12 Jun 2021 07:38
Any - Used car prices - Falkirk Bairn

Motorpoint sells used cars - usual stock, in normal times, can be around 7,000 cars. Even in the depths of lockdown they had around 5,000.

Today it is 3,300 - I would suggest lack of ex day rent cars and / or unwilling to pay the rising prices of the day rent cars that are being sold off.

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Sat 12 Jun 2021 14:40
Any - Used car prices - Engineer Andy

Motorpoint sells used cars - usual stock, in normal times, can be around 7,000 cars. Even in the depths of lockdown they had around 5,000.

Today it is 3,300 - I would suggest lack of ex day rent cars and / or unwilling to pay the rising prices of the day rent cars that are being sold off.

Plus that many manufacturers stopped or significantly scaled back production (plus most dealers were not open for sales or a much reduced service) during the first 6 months of the pandemic, thus the number of new and nearly new cars about is a lot lower than normal, driving people to the second hand market.

I suspect the threat of lay-offs also means people of working age are perhaps scaling back their purchase aspirations somewhat, creating yet more demand further down the market.

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Mon 5 Jul 2021 07:01
Any - Used car prices - sniffypup

Ticket prices do seem to be up around 10% overall and I agree there's a fair chance that'll reduce by autumn. The increase is also against the current "expect to pay" figures you see elsewhere on this site, so that provides a handy reference.

Changing tack slightly, and not having bought a car for....17 years, and a used car for.....over 40 years, the approach seems to have changed. The sales story is ticket prices are set centrally (in a garage chain) with little flexibility. Rather they offer the flexibility on any trade-in plus installing options / add-ons, so the recorded selling price remains at or near the ticket price. (A similar approach has been used in other businesses.)

What approaches have people used in these circumstances (and in the current inflated used market) to reach a fair deal?

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