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Old 12-06-2021, 09:09 PM   #21
kingswood
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Originally Posted by ridders66 View Post
I work in the motor trade for a main dealer who sells commercial vehicles, my boss also deals in luxury, performance and supercars, hence how I met him in my previous job at one of the country's leading supercar dealers.
Prices are crazy. We have recently taken a vehicle in PX, it is not something we would consider selling at our premises so we offered it into the trade, sold it the same day and took a £3k profit on a trade sale, the dealer had already sold it when he collected it.

Think back just over a year ago. We were in the grip of the first lockdown. Nothing, bar essential businesses were open. We were open, as an essential business who kept haulage fleets who moved food operating, we also supply the ambulance service with a large fleet which we supply and maintain. Car dealerships were closed. In a nutshell, nobody bought a new vehicle last spring/early summer. So there are no 12 month old cars available now, many buyers like to change their car each year, and many people will not buy new, preferring so buy one a year old and let someone else take the hit.
So we have a situation whereby there are not enough used vehicles for everyone in the market to buy. All used vehicles are going for way more than what their current market value should be. Couple this with the new vehicle market, dealers ordering new vehicles now will not expect to see them arrive until next year, this is down to many factors, such as Brexit, Covid, the ship crisis in the Suez, to name a few. One of the most disastrous things concerns Just In Time, which is loved by company accountants as they don't need to hold vast stocks. But just imagine, if one company in that chain had to close due to Covid, it completely screwed up the whole supply chain.
It isn't just the likes of We Buy Any Car, who are owned by BCA, who are offering high prices for your second hand car, it is the main dealers too. If you have a spare car you don't need, now is definitely the time to move it on.
Our local Porsche dealer has buyers literally stopping Porsche owners in the street, on supermarket car parks, even knocking on their homes offering unheard of amounts to buy their cars, as they cannot get hold of stock. So they are paying way over the odds for them, and passing on the costs to buyers desperate to get their backsides in them.
The bubble will burst, that is guaranteed, but when? It will be next year for sure, when things get back to normal, and those who paid high prices for their cars will, take a huge hit on them.
We have a very good fleet of cars in stock at the moment, from Porsche, Audi, BMW, Lamborghini, Bentley, Rolls Royce, and a few Ferraris. When we move a car on, we are realising quite unbelievable sums for them, we have some rare ones which have quadrupled in value during the pandemic.
Our commercial side is just the same, we have vehicles on order that we will not see this year, and remember these are not toys. These are much needed work vehicles who will be earning their keep every day to keep industry and small businesses moving.

interesting account. I agree with everything you say and when you add to the fact people with brass aren't allowed a fell good holiday they're buying a new car instead. after spending a fortune on their garden no doubt!
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Old 12-06-2021, 09:35 PM   #22
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interesting account. I agree with everything you say and when you add to the fact people with brass aren't allowed a fell good holiday they're buying a new car instead. after spending a fortune on their garden no doubt!
That's also a major factor, incl house prices on the increase despite the state the country is in with CV19/Lockdown restrictions etc..... people do actually have money to spend on other luxuries such as cars, garden projects, houses etc etc...

Quick sums from ourselves where we'd normally holiday abroad 3 times a year incl at least 1 long haul.

In 2 years (2020 and now 2021) with no holidays taken, money back from those we had booked, fag packet maths works out at circa 26k in holidays alone in those 2yrs. Not cheap holidays I know but I reckon people are quids in with what they've saved in holidays alone this last 2 yrs.
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Old 13-06-2021, 08:44 AM   #23
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In 2 years (2020 and now 2021) with no holidays taken, money back from those we had booked, fag packet maths works out at circa 26k in holidays alone in those 2yrs. Not cheap holidays I know but I reckon people are quids in with what they've saved in holidays alone this last 2 yrs.

And I think this is quite common, especially for those who do look at the higher end 50K+ cars for example. A large chunk of those people have been able to adjust and move online and so have had no reduction in salary but a huge reduction in outlays.

I'm not saying its been easy for all but there is a large umber of people who have moved online and will be $$$ in pocket as a result who will want to spend it rather than just paying off a lump or mortgage or the future as many people have seen that the future is not guaranteed...
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Old 13-06-2021, 08:28 PM   #24
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I was looking at considering a Mini Cooper S Hatchback 2019 few weeks ago, Its a really high spec but not my favourite colour choice. Has less that 10k on, one owner. Was up at £19150 on may the 16th and autotrader said it was £1800 overpriced hence some apprehension, then jumped to £19,850. Its currently up at just shy of £21,000 and autotrader says 'great price' £987 below market average
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Old 13-06-2021, 08:50 PM   #25
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I was looking at considering a Mini Cooper S Hatchback 2019 few weeks ago, Its a really high spec but not my favourite colour choice. Has less that 10k on, one owner. Was up at £19150 on may the 16th and autotrader said it was £1800 overpriced hence some apprehension, then jumped to £19,850. Its currently up at just shy of £21,000 and autotrader says 'great price' £987 below market average

Pretty much what I’ve been looking at for the Mrs. Easy £2-£3k dearer than lockdown earlier in the year. Understandable to a degree but no way will be overpaying now and then being stuck with a reduced value car in due course.
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Old 13-06-2021, 09:39 PM   #26
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The make/models I have saved in my auto trader bucket looking to change both cars..

in the last 6 months against specific models.

SUV - average £4k up
Estate car - average £4-5K up
Supermini - average 4K up

All main dealer franchised.

I know this as I took screen shot of the bucket… then compare to exactly the same now.

On well keep what I have for a bit longer.
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Old 13-06-2021, 09:42 PM   #27
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Pretty much what I’ve been looking at for the Mrs. Easy £2-£3k dearer than lockdown earlier in the year. Understandable to a degree but no way will be overpaying now and then being stuck with a reduced value car in due course.
Guess this is the advantage of the runabout car, When mine got written off in 2018, Within a week I had bought the same car again but with less than half the miles for about a grand more than I paid for the other 3 years prior. But at less than £3k there is only so much you can loose. The Mini is said to have retained its value better than ever throughout the pandemic, but the facelift model is now out so that is another thing that would make me wary of high value versions of the pre-facelift.

My mate got a 2008 mini in January 2020, had about 45k on from memory and negotiated the price to £2600. looked for a similar example of a 2009 since were over a year on now, with similar miles..... £3490

https://www.autotrader.co.uk/car-det...ice-asc&page=1
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Old 14-06-2021, 09:34 AM   #28
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A bit off topic slightly, April looking to replace my prius, went to a Jag dealership got offered the minimum for the Prius around £7300 it's 2016 FSH just shy of 50k miles lovely condition. I looked at WBAC offered £8700 anyway ordered the XF Jag expected date of delivery to be around July, same day on the evening news it was discussed about a shortage of components for Jaguar! So WBAC keep sending quotes that it's gone up in price. Problem for me currently is, its next service is a biggy and I'm loathe to spend money on a service I really won't get any benefit from. So I am hanging on for another month to try and keep the mileage down, problem is looking after Grandkids I do need to use the car. Anyway here's hoping!
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