What's going on with used car prices

[Sootchucker]

I know there has been a lot of talk lately about the prices for good secondhand cars and them actually increasing in value quite substantially from just say 6 months ago, but what the hell is going on with dealers second hand prices.

I was just browsing the VW used site when I came across a number of examples of used cars selling for much more than a brand new factory order car ! To give you an example, there's a Lapis blue MK8 R from Listers Stratford, with DCC, Sunroof and 19" Estorils, March 21 with over 6000 miles on it, up for £49,990 - compared to a brand new factory order that's a £6,560 increase on a brand new factory order (at £43,430).

Are people really willing to pay nearly 15% more for a second hand car than a brand new one just to avoid the wait ?

[Foxy367]

Its nuts! Clubsport with 5,000 miles on it completely boggo and thats up for £39,999 thats at least £5k more than what it should really be worth I suspect

https://www.autotrader.co.uk/car-details/202101107833970?radius=1500&include-delivery-option=on&postcode=wn73lu&aggregatedTrim=GTI%20Clubsport&model=GOLF&make=VOLKSWAGEN&sort=price-desc&onesearchad=New&onesearchad=Nearly%20New&onesearchad=Used&advertising-location=at_cars&page=1

Dealers are clearly dining out on the general public's desperation. I suppose if the chip shortage is making the lead in 40 plus weeks then they can try their arm at pricing it at a premium!

Just feels wrong though glad I managed to get mine when I did

[fredgroves]

Quite a lot of it about.... but someone was quoted a 57 week lead time the other day I saw...

Also, dealers themselves have very little on the forecourt too...

[king monkey]

The CS I drove on Saturday had no options and was £40k. Crackers.

[Watts]

Anything and everything is only worth what someone is prepared to pay for it. Dealers aren't a charity. With the shortage of cars to sell some of them may go out of business so they need to earn more on fewer cars.

[SRGTD]

If someone’s so desperate to avoid having an extremely long wait (12+ months) for a factory build, then they may be prepared to pay a premium for one of the few in-stock new cars at dealers. I personally wouldn’t.

Many dealer’s used car stocks are extremely low. I was waiting at my dealers a couple of weeks ago while my car was being serviced and I had a chat to the salesperson I dealt with when I bought it. He told me they’d taken to parking their depleted used car stock diagonally on the forecourt to give the impression they had more cars for sale than they actually do. I’ve heard of other dealers doing this too. He intimated to me that they’d offer me more for my car now than I paid for it a year ago - it’s not for sale though!

[phope]

Prices are getting sillier, even when you thought they couldn't

I see the highest priced demonstrator Mk8R appears on the VW website at just under £56k, for a spec that isn't laden with options either.

If this stock shortage persists into the new year, it'll be the case that those (myself included) who've ordered via DTD or similar who've got between 10-15% off inclusive of finance deposit allowance could be able to trade them back almost immediately to dealers at higher prices than you bought it for and 'gain' that discount back in PX prices

Academic of course if you have nothing else to drive and your next car is also marked up in cost with no discount!

[GTIGeordie]

I've spoken to DTD today and there's apparently a 34 week wait for a Clubsport if you ordered this month. Surely that 34 could turn to 50+ quickly though!

[SRGTD]

I've spoken to DTD today and there's apparently a 34 week wait for a Clubsport if you ordered this month. Surely that 34 could turn to 50+ quickly though!

34 weeks sounds almost too good to be true in the current climate.

[SRGTD]

There’s a mk8 2.0 150ps diesel Golf Style with 500 miles on the clock on VW’s website that’s up for sale at £39,999 . Admittedly it’s got quite a few extras on it, but at most it has a new list price of circa £35k including extras, so the dealer’s asking a premium of £5k over the new list price.

£40k for a run of the mill used Golf is just madness IMHO.