Looking at prices...

JonP · June 3, 2021

Thinking about joining company EV scheme, so looking at pricing. Is it just me or do others also think prices for used cars are generally up - I'm using WBAC and Evans Halshaw as a baseline..

hockeyedwards · June 3, 2021

New car sales are slower for several manufacturers due to delays in sourcing electronics from China, therefore, used car market does pick up a bit as people not able to get a new car in a reasonable time frame, look elsewhere 🙂

Malc · June 3, 2021

1 hour ago, JonP said:

think prices for used cars are generally up

I think there's a possible blip right now ........ there are mountains of 2ndhand cars being stored, desperate to sell brand new stock and maybe stockpile the p/exs ................ check auction results maybe !

Malc

AJ500 · June 3, 2021

Where are these mountains of used cars being stored?

I have been contacted by 2 BMW dealers wanting to buy our 4 month old BM as they have so little used stock.

My trader pal is desperate to source used Porsche,Audi,Merc,Bm as his dealers are paying well over the odds for stock.

The forecourt of my nearest BMW dealer is half empty and they cannot get new orders quickly due to the materials shortage.Hence WBAC bids are increasing weekly on all makes....look at the Pistonheads thread.

A J.

scott-o · June 3, 2021

They do seem to be going up on the likes of WBAC (for more mainstream vehicles) but trying to sell privately is a pain at the moment (as it always is!). I put my ISF up at very sensible money a couple of weeks back and it's been hard work so far.

The golf r estate I sold to get my ISF is worth more now on wbac than it was 10 months ago when I checked for example.

Shahid NX300h · June 3, 2021

Hi my father just purchased a NX300h 2018 11k miles, the prices at main dealers were around 28k mark, saw one at a non Lexus dealer priced at 26.5k, got it in the end for 26k, but was hard work getting £500 off, at main dealers it was almost impossible. Are the prices for the above vehicle over inflated at the moment, or are they the going rates. I’m surprised how high prices are for the NX, or is that the norm.

RichGS11 · June 3, 2021

8 hours ago, AJ500 said:

Where are these mountains of used cars being stored?

I have been contacted by 2 BMW dealers wanting to buy our 4 month old BM as they have so little used stock.

My trader pal is desperate to source used Porsche,Audi,Merc,Bm as his dealers are paying well over the odds for stock.

The forecourt of my nearest BMW dealer is half empty and they cannot get new orders quickly due to the materials shortage.Hence WBAC bids are increasing weekly on all makes....look at the Pistonheads thread.

A J.

There's two old RAF bases near me and both runways are stacked full of cars, hundreds and hundreds of them. I'm sure there'll be others around the country. I'll try to take a pic if work takes me up there again in the near future.

steve2006 · June 4, 2021

11 hours ago, AJ500 said:

Where are these mountains of used cars being stored?

I have been contacted by 2 BMW dealers wanting to buy our 4 month old BM as they have so little used stock.

My trader pal is desperate to source used Porsche,Audi,Merc,Bm as his dealers are paying well over the odds for stock.

The forecourt of my nearest BMW dealer is half empty and they cannot get new orders quickly due to the materials shortage.Hence WBAC bids are increasing weekly on all makes....look at the Pistonheads thread.

A J.

The local Stratstone BMW dealers at Derby has closed down and seems to be being redeveloped, not sure if it is going to open again as BMW or they’ve thrown the towel in.

AJ500 · June 4, 2021

I dont think they have closed down but have moved temporarily to a new site whilst a brand new combined BMW and Mini facility is being developed in Derby.

A J.

Malc · June 4, 2021

9 hours ago, RichGS11 said:

There's two old RAF bases near me and both runways are stacked full of cars, hundreds and hundreds of them. I'm sure there'll be others around the country. I'll try to take a pic if work takes me up there again in the near future.

this is the story that I've been reading too in recent times, with photos to match ....... I haven't kept any of it tho' .... there's factors at play here that the general public are being shielded from methinks .... motor manufacturers globally have very very deep pockets to keep brand new car sales moving

Malc

AJ500 · June 4, 2021

If that were the case,why are dealers offering such big prices to buy in used stock.In the instances I am personally aware of,cars bought in have gone straight on the front for retail.

The pics I saw a few months ago of cars stacked up in fields were mainly mainstream late cars,possibly ex rental/lease.Probably awaiting auction etc.

A J.

Womble72 · June 5, 2021

Only my personal view.....BUT as 86% of cars are either PCP, HP/leased or company cars the manufacturing companies don’t want secondhand cars, I think they have to by law offer an alternative to new but can pick n choose what to forecourt, we are constantly bombarded with Toyota trying to get us to PX the wife’s car BUT it’ll be scrapped before it gets sold, either a new hybrid set up or constantly run on fuel until it’s totally had it!........I can’t justify the associated loss on a new car so I’m the worst car buyer to a main dealer 😂.......my F and Z1000 are toys, I’ve a runner for work n the wife has hers, I dread to think of the money I’ve lost to dealers over the years, it took a long time for me to grow up and at 49 I’m finally there 😂🤣........

hockeyedwards · June 5, 2021

22 minutes ago, Womble72 said:

it took a long time for me to grow up and at 49 I’m finally there 😂🤣........

you can always have a 'breakdown' and become immature again... any day now! 😆

cruisermark · June 5, 2021

On 6/4/2021 at 1:48 AM, steve2006 said:

The local Stratstone BMW dealers at Derby has closed down and seems to be being redeveloped, not sure if it is going to open again as BMW or they’ve thrown the towel in.

I wonder if the internet is also going to kill the main dealers - now that car on finance is on the rise and companies like cazoo are offering short term rentals? - maybe all that wil remain is service centres

Malc · June 5, 2021

3 hours ago, Womble72 said:

so I’m the worst car buyer to a main dealer 😂

I think I might be ........... the only brand new car I've ever bought was my 1969 Hillman Imp ........ and I've been driving a used Ls400 for some 20+ years now

( wish I could afford another Hillman Imp tho' :wink3: )

Malc

just remembered my brand new bank car tho' when I worked at NatWest ..... but that doesn't count really

doog442 · June 5, 2021

Prices are generally up. WBAC (pre Inspection of course) is a decent indicator. I was offered £21k 12 months ago for my bimmer, today it sits at £24k which represents 20% depreciation from new over 3 years - basically unheard of.

Our Mercedes / Audi and BMW dealerships are mainly devoid of vehicles on their forecourts. Our Lexus dealership is rammed in comparison :wink3: ....although I noticed last week the back yard had thinned out slightly. Plenty of sad looking IS300h's covered in seagull droppings.

I'm tempted to chuck mine in and buy a 2009/10 IS250 and use the difference on holidays....oh hang on.

Arth_Vader · July 3, 2021

Just renewed our insurance and when we got the papers it looked like ISF prices had taken a big hit.

When the policy came through it had the vehicle value quoted as £1 for a 13 plate.

LenT · July 3, 2021

36 minutes ago, Arth_Vader said:

Just renewed our insurance and when we got the papers it looked like ISF prices had taken a big hit.

When the policy came through it had the vehicle value quoted as £1 for a 13 plate.

So what was the Premium? 🙂

Arth_Vader · July 4, 2021

£539 I think

rayaans · July 4, 2021

Well it appears they are very much up. My son sold his Merc C180 for £9300 privately last year at 77k miles. Its since been sold at 81k miles for £10250 on eBay. Nice little profit for the next owner.

His Jag he PXed for £13.5k and that was higher than the valuation. Its PX value is now £14.5k.

Even when I look at my RX PX value. Its 5 years old and cost me £23k so far after discounts.. £383 a month which personally I think is outstanding for a large SUV which was almost £56k new. The only problem I have is, I dont want to get rid of it as I cant think of anything to replace it with. Hence, Im waiting for the new RX500h to drop next year

steve2006 · July 4, 2021

18 hours ago, Arth_Vader said:

Just renewed our insurance and when we got the papers it looked like ISF prices had taken a big hit.

When the policy came through it had the vehicle value quoted as £1 for a 13 plate.