Author Topic: What's going on with used car prices  (Read 2574 times)

Offline fredgroves

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Re: What's going on with used car prices
« Reply #10 on: 20 September 2021, 20:26 »
Their demo cars from the first wave will be six months old now.. So expect them to be for sale now... For more than new rrp...
Current: Mk8 GTI DSG, Adelaides, DCC, HUD, HK, Winter Pack, Rear Camera.. Aka "HMS Weasel"

Gone: 2017 Mk7.5 GTD,manual, NavPro
Gone: 2014 Mk7 GTD, manual, NavPro, DCC

Offline Foxy367

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Re: What's going on with used car prices
« Reply #11 on: 20 September 2021, 21:45 »
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 :shocked:. 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.



Woahhh!  :shocked:
Current - Awaiting a milkfloat
Previously
2021 Mk8 GTI Clubsport - Atlantic Blue
2017 MK7.5 GTI Performance - Tornado Red
First steps into Golf ownership -
2003 Mk4 GtTdi PD150 Oceanic Green
2002 Mk4 GtTdi PD150 Reflex silver

Offline Carl_45

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Re: What's going on with used car prices
« Reply #12 on: 21 September 2021, 07:16 »
Another group of companies “racking it in” will be the lease and PCP companies, when the cars hit the auction houses at 3/4 years old, if there’s not much for sale, they’ll be getting higher sale values.

If anyone has had a PCP quote recently, in light of the secondhand market, I wonder what VW are predicting? Are they basing the residuals on the same as before (approx £17k for my CS 45) or are they allowing larger final payments to reduce monthly cost?

It’s not just “nice” cars being hit either, my missus is looking for a C4 spacetourer (aka mummy’s space bus, as I call it :grin:) to replace her Astra, these are now approx £3K more than when we looked before the summer. We’re planning on keeping the Astra until things settle.
Current: Clubsport 45, Kings Red, DCC, HK, Winter Pack

Offline Foxy367

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Re: What's going on with used car prices
« Reply #13 on: 21 September 2021, 08:25 »
Its nuts, We have a Skoda Kodiaq (Mummys Space Bus!!!) according to WBAC its worth exactly the same as we paid for it 12 months ago with 7,000 miles on it.

I hope in three years time the residuals could be quite strong on used cars as they won't be flooding the market as the new cars aren't coming in as quick now so there will be less used cars about unless the manufacturers go nuts when the chip shortage is resolved and flood the market with cheap new cars to catch up driving down the value of used cars.

I suppose the used car value is largely irrelevant unless you are taking delivery of an already ordered new car as there is so little about and the next car will have an overinflated value anyway!
Current - Awaiting a milkfloat
Previously
2021 Mk8 GTI Clubsport - Atlantic Blue
2017 MK7.5 GTI Performance - Tornado Red
First steps into Golf ownership -
2003 Mk4 GtTdi PD150 Oceanic Green
2002 Mk4 GtTdi PD150 Reflex silver

Offline fredgroves

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Re: What's going on with used car prices
« Reply #14 on: 21 September 2021, 10:12 »
The interesting counterweight of course will be the demand for BEV... it will ultimately cause ICE car values to bomb.

One of the other things thats pushing second hand prices is the introduction of the ULEZ's - London in particular.

There has been a big scramble to buy ULEZ compliant cars - new and second hand. I've seen it from my mates in London.

Current: Mk8 GTI DSG, Adelaides, DCC, HUD, HK, Winter Pack, Rear Camera.. Aka "HMS Weasel"

Gone: 2017 Mk7.5 GTD,manual, NavPro
Gone: 2014 Mk7 GTD, manual, NavPro, DCC

Offline ar899

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Re: What's going on with used car prices
« Reply #15 on: 21 September 2021, 11:06 »
Drove over Avonmouth Bridge yesterday. Usually a large stockpile of new cars and vans in the vast port car parks, just shipped in. Looked distinctly threadbare.....

Offline wizzywig27

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Re: What's going on with used car prices
« Reply #16 on: 21 September 2021, 13:22 »
I will tell you where this all get a bit crazy, I recently rejected my Golf 8 R-Line which I'd had for just shy of three months. The RRP of the car including extras is £33400 - take off the deposit contribution of £1250 leaves £32150 (there may have been something put in from dealer but cannot find any documents or an order form, but suspect by the amount I was paying, there wasn't.

At the time of rejection I'd made one payment and the settlement figure was £29761. The dealer wanted financial  support from VWUK/VWFS to support the rejection - I have no idea what this amount was, could have been anything. For arguments sake lets say they wanted £2k in total, means they valued my car, after turnaround at £27761.

I seen it on their website with 1415 miles on it selling for £32999 which is slightly less than the RRP so not bad compared to some cars quoted on here. I suspect though, the dealer could sell for slightly less as they ultimately have already made £4 on me rejecting it.

I am sure there is much more involved than I make out above, however it is still easy money for the dealer.

I have noticed as well that the car has now sold, despite the dealer knowing about a number of faults on it. They show no shame at all - some poor soul has paid top end money for a car another customer has rejected. That car should be sent back to VW before it is re-sold imo.

Offline Foxy367

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Re: What's going on with used car prices
« Reply #17 on: 21 September 2021, 16:20 »
Thats perhaps why VW seem so happy to allow cars to be rejected and don't seem to be fighting it very hard!  :shocked:
Current - Awaiting a milkfloat
Previously
2021 Mk8 GTI Clubsport - Atlantic Blue
2017 MK7.5 GTI Performance - Tornado Red
First steps into Golf ownership -
2003 Mk4 GtTdi PD150 Oceanic Green
2002 Mk4 GtTdi PD150 Reflex silver

Offline ub7rm

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Re: What's going on with used car prices
« Reply #18 on: 21 September 2021, 16:50 »
I guess they are betting on a couple of things.  Some people have a higher tolerance of 'irritation' than others.  Maybe buyer 2 doesn't actually give a hoot that the climate doesn't sync or whatever.  And second, most of the issues with golfs seem to be software related - and sooner or later they will crack the majority of the bugs and the complaints will be sorted. 
2020 BMW 128ti
2017 Golf GTD Estate

Offline Adam T7

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Re: What's going on with used car prices
« Reply #19 on: 21 September 2021, 20:45 »
Bought my MY19 GTI new in December 2018 for £29K, £3K off list - nearly 3 years later the price on WBAC is £26K - that’s a depreciation of just over 10% - mad.
MY2019 GTI Mk 7.5 Performance. DSG, 5 Door, Rear Camera, Climate Windscreen and Rear Window Factory Tints, Indium Grey.