Has the increased cost of living had an impact on your automotive buying plans???

[H3XME]

9 minutes ago, Linas.P said:

I think "something is up" with the market and I think it will reset at some point, definitely don't want to buy just before it does, but sadly I don't know when it will happen. That is how I ended up with broken IS250 from auction...

It will crash by the end of the year. Someone I know at a Mercedes dealership was just saying the other day they're expecting it to crash soon.. They're currently desperately trying to move all used stuff off their forecourt as the chip production is recovering and market will crash/recover.. 

I've been itching for a new daily for over 2 years now, mainly the RC is looking tasty, but I'm not buying anything at the moment when those cars are £5k+ more than they were 3 years ago. 

[Linas.P]

Just now, H3XME said:

It will crash by the end of the year. Someone I know at a Mercedes dealership was just saying the other day they're expecting it to crash soon.. They're currently desperately trying to move all used stuff off their forecourt as the chip production is recovering and market will crash/recover.. 

I've been itching for a new daily for over 2 years now, mainly the RC is looking tasty, but I'm not buying anything at the moment when those cars are £5k+ more than they were 3 years ago. 

I am hearing same rumours, but the problem they are just rumours... I know myself that eventually it will crash, but nobody knows when and basing purchase decisions on rumours is bad idea. There is a saying - "if you would know where you will fall you could put pillow under your head", but nobody knows, because if anybody would know they would be already billionaires. 

[H3XME]

6 minutes ago, Linas.P said:

I am hearing same rumours, but the problem they are just rumours... I know myself that eventually it will crash, but nobody knows when and basing purchase decisions on rumours is bad idea. There is a saying - "if you would know where you will fall you could put pillow under your head", but nobody knows, because if anybody would know they would be already billionaires. 

Sure, but I don't need to buy it, I just want to, therefore I can afford to wait unlike people who might be in a position of needing to buy a car.

[dutchie01]

My guesstimate is the current situation will continue for at least a year and a half. I just got a call from my volvo dealer telling me the car i ordered in november and was supposed to deliver in 3 weeks is now bumped into next year with a 10 k higher price. Like Linas sais 2nd hand prices are surreal but it could take years before they land again if ever as there are simply no 2nd hand cars left and before this market is filled with new cars yoo could easily look at 3 to 4 years after new car production is back to normal. And then there is the transition to electric. If i buy new now get it delivered in 12 months what will it be worth in 4 yrs into ownership when the market has gone EV??

[superatticman]

20 minutes ago, Moleman said:

I am amazed how many new very pricey diesels I see around, people still seem to be buying them, (perhaps they are fleet cars).

Agree currently petrol or hybrid seem the more sensible choices.

I spend a lot of time in the Highlands. Plenty of people are still happy to buy diesel cars. My missus owns a top spec 2018 Nissan Juke 1.5D, its perfect for her needs. Does 55mpg on a run (including several inclines), is surprisingly peppy, is reliable and pretty reasonable to service. She's gonna keep it for another 3-4 years. 

 

 

[Linas.P]

7 minutes ago, dutchie01 said:

My guesstimate is the current situation will continue for at least a year and a half. I just got a call from my volvo dealer telling me the car i ordered in november and was supposed to deliver in 3 weeks is now bumped into next year with a 10 k higher price. Like Linas sais 2nd hand prices are surreal but it could take years before they land again if ever as there are simply no 2nd hand cars left and before this market is filled with new cars yoo could easily look at 3 to 4 years after new car production is back to normal. And then there is the transition to electric. If i buy new now get it delivered in 12 months what will it be worth in 4 yrs into ownership when the market has gone EV??

Yes - that is what I would have thought so. It is like ripple in the supply - so for years 2020 and 2021 there was sales shortage, which will take at least 2022 and 2023 to resolve. As such used cars for all 4 years will be rarer in the market impacting the used car price for another few years after it is resolved. This is simple supply and demand, supply was cut, demand was cut but not as much and it's anyone's guess how long it will take for market to settle if ever. For us in UK specifically it may never reset, because on top of pandemic we as well had brex**** debacle and there are just too many variables to consider, before anyone can even make a guess. 

[Moleman]

3 minutes ago, superatticman said:

I spend a lot of time in the Highlands. Plenty of people are still happy to buy diesel cars. My missus owns a top spec 2018 Nissan Juke 1.5D, its perfect for her needs. Does 55mpg on a run (including several inclines), is surprisingly peppy, is reliable and pretty reasonable to service. She's gonna keep it for another 3-4 years. 

 

 

I can see it makes sense for some. When you see the pressure to limit car use in numerous cities and towns increasing it makes you wonder how long before the Government start to up the RFL on diesels to force them off the road. I have noticed that the price difference between petrol and diesel seems to have come back, another sign of the Governments longer term plan toward diesel?

[Spock66]

30 minutes ago, H3XME said:

It will crash by the end of the year. Someone I know at a Mercedes dealership was just saying the other day they're expecting it to crash soon.. They're currently desperately trying to move all used stuff off their forecourt as the chip production is recovering and market will crash/recover.. 

Certainly the crazy price increases can't continue forever and have already flattened, but I am not sure we will see a crash, I think more likely just a gradual realignment to a more sustainable market model.

[Malc]

...  and then there's the hydrogen car roll-out loming too at some stage 

or we could all just chill and  simply hang on to our existing cars and let everyone else stress and fret about new and secondhand car prices, depreciaition / appreciation and generally availabilty of what we have'nt yet got !

this economic challenging time is making absoltely zero difference to my " automotive buying plans "

Malc

[dutchie01]

Its alike selling not selling your house. Make a profit or loss only occurs when you sell. Stick with it have a glass of red and ride it out my friends!

[Rabbers]

25 minutes ago, dutchie01 said:

… Make a profit or loss only occurs when you sell. Stick with it have a glass of red and ride it out my friends!

Bernard, except maybe for the bit about the glass of red you sound like Warren Buffett  …💰🤑💰🤑💰

[dutchie01]

Rabbers we live in a world where consumption is the norm. Many moons ago i bought a new watch and when i showed it to my mother she replied “ was the old one broken ?”

seems you need a certain mental ripeness to truly understand this or at least it took me some decades!