Need new car quick but used prices?

[manracer]

I work in the trade so I am well aware how used prices have shot up in the last 6 months, but I also know they're likely to peak and then start to drop by the end of the year.

My 3 month old lease car has just been returned due to so many issues, so I need a new car ASAP.

I don't want to pay way over the odds, only for it to depreciate dramatically after 6 months. I know everyone is in the same position but I wonder if there are certain cars that will be affected by a lesser amount whether that be they haven't increased as much as others OR wont depreciate as much when prices normalise somewhat.

Has anyone been in this position recently? What did you do? Any advice welcome.

My budget is either around £5/6k cash or up to £35k, with the 5k as a deposit.

If 5/6k -must be petrol and quick (sub 7 seconds)

If 35k - must be petrol, auto and sub 5 seconds.

[LightningBlue]

I think you might be able to get a Scirocco 2.0 TSI GT for that money. That would probably suit your needs and not depreciate quickly. I often regret selling mine.

[manracer]

LightningBlue said:

I think you might be able to get a Scirocco 2.0 TSI GT for that money. That would probably suit your needs and not depreciate quickly. I often regret selling mine.

Interesting. I had a Sirocco R a few years back and liked it a lot.

[Mo28]

Why not get a shed to use for a couple of months and then either sell or scrap it when you're ready to purchase another car.

[madmatteo]

Ford Fiesta ST - https://www.autotrader.co.uk/car-details/202106103...

A tiny bit over budget but may be able to do a deal to bring it closer to top of your lower budget. Won't find many cars more fun than these. I loved mine.

For your £35k budget, I would be looking at something like the following:

Mercedes C43 AMG - https://www.autotrader.co.uk/car-details/202106224...

BMW M4 or M3 - https://www.autotrader.co.uk/car-details/202106043...

or

https://www.autotrader.co.uk/car-details/202106073...

BMW M2 - https://www.autotrader.co.uk/car-details/202106143...

Ford Mustang - https://www.autotrader.co.uk/car-details/202106163...

If you don't mind SUVs - Audi SQ5 or GLC 43 AMG - https://www.autotrader.co.uk/car-details/202104241...

or

https://www.autotrader.co.uk/car-details/202106284...

If you don't mind estates - Audi S6 Avant - https://www.autotrader.co.uk/car-details/202105222...


I suspect that any AMG/M models should have reasonable depreciation if you buy well. Equally, SUVs remain in massive demand so I imagine you may do well with those as well.

[pti]

Mo28 said:

Why not get a shed to use for a couple of months and then either sell or scrap it when you're ready to purchase another car.

This is what I said I was doing 3 years ago. Still got the shed.

[manracer]

pti said:

Mo28 said:

Why not get a shed to use for a couple of months and then either sell or scrap it when you're ready to purchase another car.

This is what I said I was doing 3 years ago. Still got the shed.

I had a shed 1 series up until 3 months ago, starting to lean towards that again

[timeism0ney]

I wonder if prices dropping in 6 months is wishful thinking.

[oilslick]

timeism0ney said:

I wonder if prices dropping in 6 months is wishful thinking.

I suspect it is, the current chip shortage isn't going to go away anytime soon and it's years to build new fabrication plants, not months. On top of that, I doubt car manufacturers are at the front of the queue when more manufacturing comes on stream.

[manracer]

timeism0ney said:

I wonder if prices dropping in 6 months is wishful thinking.

Well, I think given its purely driven the lack of new cars due to chip shortages that manufacturers will be on the case in getting the up and running again ASAP, as such that will mean a glut of new cars soon, so perhaps it will be the new cars that are reduced when the time comes.

[J1990]

manracer said:

Well, I think given its purely driven the lack of new cars due to chip shortages that manufacturers will be on the case in getting the up and running again ASAP, as such that will mean a glut of new cars soon, so perhaps it will be the new cars that are reduced when the time comes.

The car manufacturers don't have vertical integration i.e. They're not making their own chips. The reason this industry has been hit the most is because the type of chips used in cars carry much lower profit margins for the manufacturers and so the car industry is nigh on bottom of the pile when it comes to the manufacturer choosing which chipsets to prioritise.

[manracer]

J1990 said:

manracer said:

Well, I think given its purely driven the lack of new cars due to chip shortages that manufacturers will be on the case in getting the up and running again ASAP, as such that will mean a glut of new cars soon, so perhaps it will be the new cars that are reduced when the time comes.

The car manufacturers don't have vertical integration i.e. They're not making their own chips. The reason this industry has been hit the most is because the type of chips used in cars carry much lower profit margins for the manufacturers and so the car industry is nigh on bottom of the pile when it comes to the manufacturer choosing which chipsets to prioritise.

Oh yeah, I meant they should have a better stream of chips coming into them eventually - i.e. the lack of chips wont last forever.

[ZX10R NIN]

Firstly as you're in the trade the simple answer is to spend the minimum & then in a years (that's how long it'll take for prices to settle) take another look, there's no point getting into an expensive lease/PCP right now.

So I'd be looking at these:

208 GTI

https://www.autotrader.co.uk/car-details/202105202...

https://www.autotrader.co.uk/car-details/202104302...

RCZ GT

https://www.autotrader.co.uk/car-details/202105152...

https://www.autotrader.co.uk/car-details/202106294...

Leftfield.

2.0T Insignia SRI 220

https://www.autotrader.co.uk/car-details/202106304...

CLK500 these have remained around the same money for a few years now:

https://www.autotrader.co.uk/car-details/202012287...

[scoey1001]

Good example of a mk5 gti shouldn't lose money. Edition 30 even less so but might be a push at 6k.

[manracer]

My son has a 208 GTi and I'm not that fussed on them.

Edition 30, had one and would happily have enough, prices seem to be 10k plus got a decent one, though I am tempted.

[JS2808]

Pre FL RS3 have hovered around 30k for a while now, don't seem to be moving much

[timeism0ney]

I just don't think prices will ever go down, dealers will find reasons to cling on to them even if manufacturing/supply will get better. Inflation, increased cost of meeting covid safety measures etc. At best the prices will stop increasing and there may be more choice, but prices actually falling is a fantasy in my view.