Second hand value pricing adjustment
Discussion
Hi all,
This is not a question on why second hand car prices are what they are, I think we all know there are numerous reasons.
Ahead of my next car purchase, I am sense checking my logic that essentially car prices are roughly £10k above what they were shortly before Covid (e.g. a £20k car then is now a £30k now for an equivalent) and that the this adjustment is reflected across the full range. A formerly £5k car now would be say £10k or even £15k for another example.
I suppose what I am trying to judge is if spending more on a car to try and get a like for like to what was available before Covid, would then leave me with the similar difference after I came to sell it later on or would I still be left with the same value as before Covid therefore taking a much bigger depreciation hit now.
My feeling is the former but experiences welcome along with opinions.
This is not a question on why second hand car prices are what they are, I think we all know there are numerous reasons.
Ahead of my next car purchase, I am sense checking my logic that essentially car prices are roughly £10k above what they were shortly before Covid (e.g. a £20k car then is now a £30k now for an equivalent) and that the this adjustment is reflected across the full range. A formerly £5k car now would be say £10k or even £15k for another example.
I suppose what I am trying to judge is if spending more on a car to try and get a like for like to what was available before Covid, would then leave me with the similar difference after I came to sell it later on or would I still be left with the same value as before Covid therefore taking a much bigger depreciation hit now.
My feeling is the former but experiences welcome along with opinions.
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