| Car dealers. 19:39 - Jan 16 with 1027 views | gtsb1966 |
Apparently the second hand car market is the best ever. My other half needs a car and we've been looking all afternoon. .Cash is king though. Is it that bad though in terms of pricing. [Post edited 16 Jan 2022 19:41]
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| Car dealers. on 19:52 - Jan 16 with 959 views | Bent_double |
Yeah, not the best time if you're a buyer - prices have gone up 20-30% in the last few months, apparently.
I had what I thought was a decent budget to buy one, turns out that will only get me one of those horrible little city cars, or a 5-6 yr old car that's done 40-50k miles. Then you have to be quick as they're selling fast it seems.
I've decided to lease a new car for a few years instead - even that's been tricky as anything available is going fast, or delivery time is 1-2 months or more. |  |
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| Car dealers. on 20:05 - Jan 16 with 919 views | BloomBlue |
Be careful because when the chip supply issue is resolved which is estimated to be at the end of this year they are predicting 2nd hand cars will immediately lose more value than new cars. This is because the values have gone up massively, and I saw one example of a 3 year old car currently valued at £5k more than it would have been without this chip shortage and they were predicting once the chip issue is over that car will immediately lose that extra £5k and drop back to normal value |  | | |
| Car dealers. on 20:59 - Jan 16 with 805 views | bluelagos |
| Car dealers. on 20:05 - Jan 16 by BloomBlue |
Be careful because when the chip supply issue is resolved which is estimated to be at the end of this year they are predicting 2nd hand cars will immediately lose more value than new cars. This is because the values have gone up massively, and I saw one example of a 3 year old car currently valued at £5k more than it would have been without this chip shortage and they were predicting once the chip issue is over that car will immediately lose that extra £5k and drop back to normal value |
I guess the issue of the chip shortage needs to be thoroughly understood here. (I don't fully comprehend it)
From your post, sounds like you think it will suddenly be solved (car immediately losing the extra value) - can I ask why you think it would be solved in that manner and not say over a 12 - 18 month period? |  |
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| Car dealers. on 10:00 - Jan 17 with 469 views | Guthrum |
| Car dealers. on 20:59 - Jan 16 by bluelagos |
I guess the issue of the chip shortage needs to be thoroughly understood here. (I don't fully comprehend it)
From your post, sounds like you think it will suddenly be solved (car immediately losing the extra value) - can I ask why you think it would be solved in that manner and not say over a 12 - 18 month period? |
A shortage of relatively uncommon (often only mined in China) raw materials given they're used in many electronics applications.
This issue also depends upon why you're buying a second-hand vehicle. If it's a utilitarian tool to get you from A to B and which you intend to use for several years, then depreciation generally evens itself out (or arrives at the same point, e.g. scrap value) over a longer time period.
The value of second-hand petrol and, particularly, diesel vehicles is going to be considerably affected over the next decade with the increasing (and probably eventually legislated) transition to electric. |  |
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