Secondhand car price crash?
Discussion
cc3 said:
Been looking at a few cars online Porsche BMW etc. shocked when I put the reg into Webuyanycar. £80k retail and some trade prices now £50k! Bottom dropping out of high end petrol hungry market?
It’s certainly looking tough for those folks with these type of cars.Thoughts and prayers are with you all.
cc3 said:
av185 said:
WBAC isn't the market.
Just means they aren't buying a particular car because e.g. they may be fully stocked.
Similarly I could bid £5k for a £150k car. Doesn't mean thats its value.
Prices on same cars £15k higher last week. Just means they aren't buying a particular car because e.g. they may be fully stocked.
Similarly I could bid £5k for a £150k car. Doesn't mean thats its value.
Edited by av185 on Monday 7th March 21:53
Market is selective typically.
Some stuff up some down ££. Same with different internet buying sites.
steve2 said:
ChrisH72 said:
My prediction is that prices will crash shortly after I buy my next car.
Hurry up and buy it so I can start looking seriously ??Every time I find a car I like I put the reg into wbac and find out to my horror it's already worth thousands less than I'd be paying. Weird.
MitchT said:
I've been watching F32 BMW 420i coupés for a while - specifically targeting five year old ones in my searches. A while back they were £18k. Recently they've been in the region of £22k. I'm now seeing them start to drop below £20k again.
I've started to notice this as well. I've lost about £6k on the F82 M4 from what I paid for it a year ago now, but there was a time where I could've got more than I actually paid for it though. The values definitely seem to be dropping back a bit again. ChrisH72 said:
steve2 said:
ChrisH72 said:
My prediction is that prices will crash shortly after I buy my next car.
Hurry up and buy it so I can start looking seriously ??Every time I find a car I like I put the reg into wbac and find out to my horror it's already worth thousands less than I'd be paying. Weird.
It’s an interesting question.
New cars are hard to get hold of so the second hand market has gone mad.
The upcoming cost of living squeeze will lead to people having less spare cash for PCP payments.
Will that lead to a drop in second hand car prices as they become less affordable or will it put up prices at the cash end of the market?
New cars are hard to get hold of so the second hand market has gone mad.
The upcoming cost of living squeeze will lead to people having less spare cash for PCP payments.
Will that lead to a drop in second hand car prices as they become less affordable or will it put up prices at the cash end of the market?
Now with how tight most peoples budgets are becoming I can’t see many people dropping money on performance cars or even having the money. Quick look online and I can see plenty of 6 year old M2s, M4s, Rs and S3s sitting at £25-30K and been listed for 120+days (highest it goes to).
I personally know no one in the last 8-12months who has bought a used car they have all been leases or PCP as the deals are better. No one is going to PCP a 6 year old used BMW M4 or RS5 with 60K miles for £450 a month when the can lease a brand new car for £300 a month without the headaches.
I definitely don’t see anyone dropping £30-35K in cash on one as if they have that sort of cash they aren’t look at an aged M4 with no warranty with the new M4 and M3 now out.
Who knows if prices will crash. I suppose all you need is one or two over leveraged dealers who think now is the time to take a small hit to sort out their positions and it becomes a race to clear stock which is only losing value the more it sits.
Only way to know is to compare sales from now to before covid.
I personally know no one in the last 8-12months who has bought a used car they have all been leases or PCP as the deals are better. No one is going to PCP a 6 year old used BMW M4 or RS5 with 60K miles for £450 a month when the can lease a brand new car for £300 a month without the headaches.
I definitely don’t see anyone dropping £30-35K in cash on one as if they have that sort of cash they aren’t look at an aged M4 with no warranty with the new M4 and M3 now out.
Who knows if prices will crash. I suppose all you need is one or two over leveraged dealers who think now is the time to take a small hit to sort out their positions and it becomes a race to clear stock which is only losing value the more it sits.
Only way to know is to compare sales from now to before covid.
bbob said:
Surely the limited availability of new cars will affect used car supply for a good few years so prices could remain high for some time. My simple view ignoring all the other factors!
Yep very much like it did last year.Used prices will remain high for a considerable time yet simply because of restricted new cars coming to the market thus throttling used car supplies even more.
The effect on prices is quite clear.
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