Butch Posted July 18, 2021 Share Posted July 18, 2021 (edited) This has been a trend for the last few months, secondhand cars, especially the SUV / Hatchback types are rising to a point where traders are struggling to find stock and the auctions not having much going through them. Many reasons have been mooted, from people having saved money during covid, so demand outstripping supply right through to the shortage / long wait list for new cars due to the microchip shortage worldwide. Either way, it is a sellers market and a few people are selling theirs and moving to new Hybrids or EV's while the supply is there. Is this a trend you guys are seeing in your part of the world?. Edited July 18, 2021 by Butch Link to comment Share on other sites More sharing options...
fygjam Posted July 18, 2021 Share Posted July 18, 2021 Same in Oz. 1 1 Link to comment Share on other sites More sharing options...
gs joe Posted July 18, 2021 Share Posted July 18, 2021 My experience in Scotland I give up on buying a secondhand car just recently had no pat ex and didn’t require finance, the sales staff I seen where disinterested and would not cut a deal , In the end looked online and went for new , 1 Link to comment Share on other sites More sharing options...
lazarus Posted July 18, 2021 Share Posted July 18, 2021 Yep, west coast US...same same. Time to buy a self driving EV Waymo Jag. Go big...or stay home! 1 1 Link to comment Share on other sites More sharing options...
AJSP Posted July 18, 2021 Share Posted July 18, 2021 Yes I am tempted to sell my wife’s Toyota Aygo. She bought it 2 and a half years ago and now they( multiple sites/ dealers) are offering £300 more than she paid ! tempting 1 1 Link to comment Share on other sites More sharing options...
Freee!! Posted July 18, 2021 Share Posted July 18, 2021 34 minutes ago, AJSP said: Yes I am tempted to sell my wife’s Toyota Aygo. She bought it 2 and a half years ago and now they( multiple sites/ dealers) are offering £300 more than she paid ! tempting Only if you don't need it, otherwise you would have to buy one again as well (for an inflated price). 1 Link to comment Share on other sites More sharing options...
maipenrai Posted July 18, 2021 Share Posted July 18, 2021 I've noticed the same thing in my neck of the woods over the last year or so - used vehicles are going for more than they used to, it seems and I originally attributed this to lack of supply because of few people travelling up here from the south, many selling vehicles they bring with them later; for instance, before covid there were generally around 300 or so used vehicles for sale in this area on Kijiji, whereas today there are 188. Another related issue here last summer (not sure about this one) was the fact that the local RV dealers couldn't keep up with demand - people were buying boats, side-by-side ATV's, etc. and I'm sure this was because a)we couldn't travel any distance and b)many people were working shorter hours or from home and had a lot of time on their hands - about 60% of our local payroll is gov't jobs, both territorial and federal and these people were still paid whether they were going into their offices or not. 1 Link to comment Share on other sites More sharing options...
galenkia Posted July 18, 2021 Share Posted July 18, 2021 Bike market exactly the same. People keeping hold of bikes as factories can't supply enough new bikes. For example, new Suzuki GSX1000-S, available in the US but not enough for the UK until September. 1 2 Link to comment Share on other sites More sharing options...
AJSP Posted July 18, 2021 Share Posted July 18, 2021 3 hours ago, Freee!! said: Only if you don't need it, otherwise you would have to buy one again as well (for an inflated price). Indeed and I agree, but I’m researching to see if with a top up of cash whether it’s worth it and early indications are it maybe. At my end I know a few dealers so with a few “readies” to grease their palms it maybe ok. Finally balanced decision plus got to get the missus to agree 🙄 Link to comment Share on other sites More sharing options...
Kathmandu Posted July 18, 2021 Share Posted July 18, 2021 About 10% higher for used cars. 50 miles north of San Francisco. Link to comment Share on other sites More sharing options...
bob lt Posted July 18, 2021 Share Posted July 18, 2021 No interest to me but I have been told that prices for second hand vans in the UK are on the up. 1 Link to comment Share on other sites More sharing options...
Butch Posted July 19, 2021 Author Share Posted July 19, 2021 12 hours ago, bob lt said: No interest to me but I have been told that prices for second hand vans in the UK are on the up. Yep, a lot of people are jumping on the "van life" bandwagon, whereby they get an old van and kit the inside out like a camper, with beds, solar, cooker, chemical toilet etc. Getting to be very popular. Stuff like the late model VW transporters are making obscene values, even Mercedes sprinters, which started to rust out of the factory. I can see the attraction, if it's done DIY then it is much cheaper than buying a Camper van or motor home, less hassle than a caravan and of course the double practicality of having it as an everyday vehicle as well. Also, in todays uncertain climate, extortionate accomodation prices in some parts of the UK, if you're a couple or even family of 3, it's an option for a holiday "off grid". Not for me though, I like the comforts of A/C, decent showers and not living on baked beans. 3 Link to comment Share on other sites More sharing options...
boydeste Posted July 19, 2021 Share Posted July 19, 2021 1 hour ago, Butch said: Yep, a lot of people are jumping on the "van life" bandwagon, whereby they get an old van and kit the inside out like a camper, with beds, solar, cooker, chemical toilet etc. Getting to be very popular. Stuff like the late model VW transporters are making obscene values, even Mercedes sprinters, which started to rust out of the factory. I can see the attraction, if it's done DIY then it is much cheaper than buying a Camper van or motor home, less hassle than a caravan and of course the double practicality of having it as an everyday vehicle as well. Also, in todays uncertain climate, extortionate accomodation prices in some parts of the UK, if you're a couple or even family of 3, it's an option for a holiday "off grid". Not for me though, I like the comforts of A/C, decent showers and not living on baked beans. Many of my fishing mates have done exactly that. They park up at the lake and live in the converted van. Some even have massive solar panels fitted with a couple of big batteries for continuous power. 4 1 Link to comment Share on other sites More sharing options...
lazarus Posted July 19, 2021 Share Posted July 19, 2021 18 minutes ago, boydeste said: Many of my fishing mates have done exactly that. They park up at the lake and live in the converted van. Some even have massive solar panels fitted with a couple of big batteries for continuous power. Very big in the US now too...although not by choice for many. There are "slums" of old vans and motorhomes in some areas. Scary places to drive by. Many vans for sale -- especially the very expensive Mercedes Sprinters -- as it appears some have tried it and are now moving back indoors. Here's a few nice ones I saw this past weekend... 3 Link to comment Share on other sites More sharing options...
lazarus Posted July 21, 2021 Share Posted July 21, 2021 More 'van life' - livin' the dream... 1 Link to comment Share on other sites More sharing options...
Butch Posted July 21, 2021 Author Share Posted July 21, 2021 That is a cool paint job though... Link to comment Share on other sites More sharing options...
Shaksey Posted August 17, 2021 Share Posted August 17, 2021 Oh, yes, for sure. One of my friends just sold his BMW 240iM for £5000 more than he bought it for a year ago. Another friend sold his R8 V10 for £12000 more than he paid 18 months ago. 2 1 1 Link to comment Share on other sites More sharing options...
tingtong2k Posted August 18, 2021 Share Posted August 18, 2021 This is even more stupid for proper sports cars it’s just become ridiculous. There was a time you could pick up a great bargain a few years old and have a lot of fun. Now the demand has gone through the roof and everyone has to end up on a ‘Special list’ to get something you could have brought easily about 2-3 years ago. I can understand the luxury watch market (to a point) but cars….this is getting a but stupid. Link to comment Share on other sites More sharing options...
Pumpuynarak Posted August 20, 2021 Share Posted August 20, 2021 I've been looking at the pricing for a 348TB Ferrari in the UK and i can't believe what they're asking for an early 90's model. I sold mine in 2003 for 30K and that was a fair price, now they're asking 55-60K !!! Perhaps i should have kept mine lol Link to comment Share on other sites More sharing options...
Butch Posted August 20, 2021 Author Share Posted August 20, 2021 Even run of the mill stuff is selling privately for what would have been forecourt prices a year ago. High end sports cars are really doing well, as @Shakseymentioned, M series BM's, AMG Mercs and the Audi top of the line models are fetching large and some say unrealistic premiums. Last month (July) we've flipped 2 cars, brought as salvage , one with a broken cam belt which needed a head skim and new valves, the other a diesel golf that had gone through a deep puddle and knackered the engine (bent rods, valves and basically needed a rebuild). normally, even with stuff recorded on the HPI Insurance register it's possible to make 30 - 40% profit on a very good day (but I'm not counting my own labour costs in that), When we'd given them a spruce up, thrown a set of mats in, 12 months MOT we managed to make more than half our money again. Trouble is, salvage stuff is getting more expensive. The "chip" shortage won't be over for another year, and Toyota have just cut production by up to 40%, this won't make things any better!. 1 1 Link to comment Share on other sites More sharing options...
Butch Posted January 18, 2022 Author Share Posted January 18, 2022 Just an update to this thread, apparently the superconductor and chip shortage is beginning to ease slightly, however many new car orders being ordered today will not be fulfilled until possibly Q3 2022, or even Q1 2023. some of those suffering the most are the fleet operators who traditionally put their cars through auction once they hit 3 years old and purchased new vehicles for Tax purposes, along with warrantied and inclusive servicing. Some secondhand car prices are easing off, but that's mostly for specialist models, such as your AMG Merc's, High end BMW's and suchlike, but the run of the mill 4 door saloon with a decent amount of options are still fetching a premium used, and the same applies to small, economical hatchbacks. If Working from Home becomes a permanent thing, we may see the market having more supply as families switch from 2 or more cars to one car purely from the financial standpoint, but we'll have to wait and see. 1 1 Link to comment Share on other sites More sharing options...
maipenrai Posted January 19, 2022 Share Posted January 19, 2022 A friend of mine just bought a new Nissan car yesterday and he said that they only had three new vehicles available on their lot - I've heard it's much the same over at the local Toyota dealer as well; and Kijiji and Facebook are both showing some silly prices for used vehicles. 1 Link to comment Share on other sites More sharing options...
Golfingboy Posted February 3, 2022 Share Posted February 3, 2022 (edited) Just saw this on Facebook…..I’m sure it’s a loaded Hybrid model, but still….. Absolute madness for a vehicle over a year old Edited February 3, 2022 by Golfingboy 1 3 Link to comment Share on other sites More sharing options...
Butch Posted March 19, 2022 Author Share Posted March 19, 2022 (edited) Prices and availability set to be further exacerbated as Ukraine was (is) a big manufacturer of wiring looms used in many European cars. https://www.autonews.com/automakers-suppliers/ukraine-suppliers-amazingly-still-making-some-wire-harnesses-amid-war Chatting to a mate in the trade this week, he mentioned specifically that some BMW's are being shipped and delivered minus some currently unavailable "options" for retrofitting at a later date. Some Mercedes models are also currently unavailable, and this is having a direct impact on secondhand stock and therefore dealer prices. It is now at a point where if you can handle the wait, ordering a brand new car is a cheaper option than maybe a one year old a secondhand model of the same type and similar spec. Edited March 19, 2022 by Butch 2 Link to comment Share on other sites More sharing options...
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