Second Hand Car Values

[barry1010]

What's going on? Why is my 13 year old diesel banger worth more than twice as much as it was three years ago? Still not worth a fortune but it is puzzling. Tis nowt special - a Hyundai i30 automatic.

[youngmafbog]

Still a shortage of cars due to manufacturers not being able to get chips.

My youngest SiL had to wait ages for his New Mustang and my youngest daughter wants to change her Kuga as its nearly 3 years old and is struggling to find a car that can be delivered.

As you cant buy a new car then less second hand become available and supply/demand economics kicks in and prises rise.

It will get worse with the race to economic ruin otherwise known as Net Zero.

[barry1010]

It's bonkers, I have no intention of changing my car but my wife took it the main dealer yesterday to get the windscreen washer bottle sorted out and they offered to buy it, not as part exchange. I've just checked on We Buy Any Car and they offered more but I expect they try and haggle when they see the car.
What a main dealer wants with a 13 year old car I can't imagine, they usually send old p/x vehichles to auction.

[youngmafbog]

A mate of mine was a fianance manager at a Volvo dealership. He said they had dealers who would 'take cars of their hands'. This meant the dealer go more than auction and the dealers would get a cheaper car than at auction (Apparently many auctions have put up the cost of selling/buying).

I agree though, its ridiculous, but that is why we have hung onto our cars.

[barry1010]

This is the first replacement part on my car apart from consumables such as tyres, wipers, battery. Never a problem passing the MOT. I'm hanging on to it hopefully until it qualifies for zero tax/no MOT status :D

[Hopkirk]

It's just the law of supply and demand.

Unless you are selling to keep the money you are not gaining from the increase in value. Any car you buy to replace it will be expensive.

[gulliver1]

All caused because of Brexit making it difficult to get spares , parts and new cars into the UK, bet your glad you voted out.

[barry1010]

Stop stirring, Gulliver. You have no idea how I voted nor my opinions on Brexit.
Car shortages have badly affected the EU https://www.brusselstimes.com/292061/chip-shortage-costs-european-car-industry-e100-billion

[barry1010]

Hopkirk, it's a shame for people who can only afford an older car.

Retro, could she have opted to keep the car and pay the ULEZ or did she have no choice? I know the ULEZ charges are very high

[gulliver1]

10 44 How come if you don't like the truth, or what someone says that disagrees with you, then you call it stirring eh!..

[Aircooledfool]

0947 ymafbog
You are quite correct, sold a camper via bangers and cash matthewsons auction , sold at a fair (ish) price , less fair once they deducted around 10% from the price it sold at , and then a further £40 for something called a vendors fee??
About £800 all told, but I imagine if selling to a dealer, they operate in much the same way

[barry1010]

Aircooled, I do enjoy their TV series. All auction houses operate like that. Do you know if your vehicle was covered by their insurance whilst it was with them?

[barry1010]

I think that £40 fee was the entry fee, different auction houses call it different things

[Aircooledfool]

I maintained my insurance until it was sold. Not because matthewsons asked me to, it was not discussed, but because I thought it was sensible to do so. They had it for a couple of weeks. Btw ,I am not moaning about them , the motor trade operates on margins like many other businesses, it’s just the their margins are a moveable feast!

[barry1010]

Was your camper van featured on the TV show?
I imagine Derek could get quite nasty if pushed

[Aircooledfool]

No idea about tv show, don’t watch it, did watch auction live though

[Aircooledfool]

On my iPad, not on tv

[Old_Geezer]

Maybe fossil fuelled vehicles demand a higher price as they allow folk to avoid buying into expensive heavy electric cars until they no longer have a choice.

[retrocop]

//Retro, could she have opted to keep the car and pay the ULEZ or did she have no choice? I know the ULEZ charges are very high//

barry
She has kept the car for the time being as ULEZ is supposed to come into operation in August. We wait and hope that Mayor Khan is found out for the liar and manipulator of figures in the High Court in July and is hung ,drawn and quartered and ULEZ is exposed as a money making scam to subsidise TFL's ineptitude and misuse of public money. The transport system, under his watch has come close to bankruptcy twice already but got bail outs.
It would cost my wife £12.50p just to drive off our frontage and drive 3 miles up the road to Sainsburys. I am just glad she no longer works nights at her old hospital. It would have cost £25 to drive to work and back for one night shift. Others may still have to.

[dave50]

Just wait till everyone decides they can't cope with the ridiculously impractical and expensive electric cars, prices of second hand diesel and petrol cars will go through the roof.