Used car prices

[Phil Mitchell Foden]

They're bonkers at the moment.

I could currently make a profit on a car I bought 2 years ago.

I really don't want to sell, but it's hard to resist at the moment. Any one else been tempted or cashed in recently?

 

[The perfect fumble]

They're bonkers at the moment.

I could currently make a profit on a car I bought 2 years ago.

I really don't want to sell, but it's hard to resist at the moment. Any one else been tempted or cashed in recently?

Quick question, if you did, what ya going to do? Walk?

 

[Phil Mitchell Foden]

Quick question, if you did, what ya going to do? Walk?

Hopefully secure a stay at home job soon and invest the money. I'd still struggle to sell it though, have a daft emotional attachment to the car.

 

[The perfect fumble]

Hopefully secure a stay at home job soon and invest the money. I'd still struggle to sell it though, have a daft emotional attachment to the car.

Fair enough, it was an honest question and thanks for an honest answer. You're right, second hand car prices have sky rocketed, do you know why that is?

PS: I've done a bit of research and found this....

Used car prices skyrocket to all-time high​

Post-lockdown demand and semiconductor shortage both contribute to used car prices hitting an unprecedented level​

https://www.autoexpress.co.uk/news/355110/used-car-prices-skyrocket-all-time-high

 

[bluethrunthru]

Depends where in the country you are I suppose. I live near Boro and I bought a Dacia Duster the other week - 1.5 dci Laureate - top spec - one lady owner - literally I have all the service records all in the name of the previous and only owner who had it serviced at a Renault main dealers for all of its 61k mile life. It came with 12mth MOT - 2 new front tyres with an RAC warranty and 12 month free RAC roadside recovery all for less than £5k'

However had stuck my 58 Plate Grande Punto up for sale with 12 month MOT cam belt etc and I am the 2nd owner starts stops runs etc - all clean and tidy and only asked less than a grand for it - not a blooming peep.

Plenty of bargains up here in the land of the poor mate - sadly I am landed with two ha ha ha - where is the OP based and what car are you talking about?

 

[Phil Mitchell Foden]

Fair enough, it was an honest question and thanks for an honest answer. You're right, second hand car prices have sky rocketed, do you know why that is?

Less new cars being manufactured over the past year 18 months or so with 'rona, due to chip shortages from China/Taiwan and just less of an outright demand as people have been saving and travelling less. It's placed a big demand on the used market and inflated prices everywhere, especially since people have been more reluctant to use public transport with the whole 'rona situation too. Used cars are more sought after, while new less so.

Anyone who's been in the dark should just run their reg through the Auto Trader valuation checker to get an idea of what I'm talking about: https://www.autotrader.co.uk/car-valuation

Edit: Just ran my reg through Auto Trader and it actually low balls. We Buy Any Car and traders have all offered me a bit more. Just for reference.

 

[bluethrunthru]

Hopefully secure a stay at home job soon and invest the money. I'd still struggle to sell it though, have a daft emotional attachment to the car.

Never get an attachment - you throw good money after bad. Old guy up my street has a FIAT Multipla that he loves - he has spent - and he knows it - way way in excess of its value. Fortunately he can do all his own mechanicals and welding so he can control spend but the last MOT saw him welding on his drive for a few weeks - it passed then the diff went !!! His attitude is " well in for a penny in for a million" which is just stupid

 

[bluethrunthru]

Less new cars being manufactured over the past year 18 months or so with 'rona, due to chip shortages from China/Taiwan and just less of an outright demand as people have been saving and travelling less. It's placed a big demand on the used market and inflated prices everywhere, especially since people have been more reluctant to use public transport with the whole 'rona situation too. Used cars are more sought after, while new less so.

Anyone who's been in the dark should just run their reg through the Auto Trader valuation checker to get an idea of what I'm talking about: https://www.autotrader.co.uk/car-valuation

That could be the case. Maybe I should keep the Punto as a back up car lol

 

[Phil Mitchell Foden]

Depends where in the country you are I suppose. I live near Boro and I bought a Dacia Duster the other week - 1.5 dci Laureate - top spec - one lady owner - literally I have all the service records all in the name of the previous and only owner who had it serviced at a Renault main dealers for all of its 61k mile life. It came with 12mth MOT - 2 new front tyres with an RAC warranty and 12 month free RAC roadside recovery all for less than £5k'

However had stuck my 58 Plate Grande Punto up for sale with 12 month MOT cam belt etc and I am the 2nd owner starts stops runs etc - all clean and tidy and only asked less than a grand for it - not a blooming peep.

Plenty of bargains up here in the land of the poor mate - sadly I am landed with two ha ha ha - where is the OP based and what car are you talking about?

Yeah I think the motors that go for circa £1k are always harder to shift though to be fair. I'm no expert on the market though don't get me wrong, just think this is something a lot of people should keep an eye on if they're thinking of selling their car. Even if they're not but might benefit from taking advantage of the current market.

I looked, somewhat wishfully, at a 3 year old M2 with 27k miles on the clock in May of 2020, and this was at Williams so BMW approved, and it had an asking of £28k. That was when the market was in its low. A 3 year old M2 with those miles will set you back about £34k now, and I've just seen a similar BMW approved one with an asking of £38k. That's bonkers.

I'm Manchester and my car is the 6 pot 1 series, manual. Don't think you get a better all rounder in that price range, why I'd hate to see it go tbf.

 

[Phil Mitchell Foden]

Never get an attachment - you throw good money after bad. Old guy up my street has a FIAT Multipla that he loves - he has spent - and he knows it - way way in excess of its value. Fortunately he can do all his own mechanicals and welding so he can control spend but the last MOT saw him welding on his drive for a few weeks - it passed then the diff went !!! His attitude is " well in for a penny in for a million" which is just stupid

Yeah 100% mate. There's a happy medium to it definitely. Some people are bonkers with mods to their cars especially.

I try to keep a sound head about it and think about the numbers, just know I'd struggle to find as well looked after an example as mine if I did cash in now and look again in future. But then if the numbers make sense and you're not driving much at the moment seems foolish not to.