Deleted
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Post by Deleted on Sept 9, 2021 12:07:51 GMT
...and there doesn't seem to be an end in sight. I recently had my Civic valued by both WBAC and the local Honda dealer. WBAC have subsequently sent me regular value updates - all of them growing steadily. The Honda dealer's comment was that if he bought it at the price he offered me, he'd retail it at the same screen price as he'd sold it to me 2 years ago, and that the "future values" section of his dealer system has been turned off as the company are unprepared to estimate at the moment, having never esperienced increasing used car values. I have approaching £3k equity in the car in my PCP deal, which I genuinely wans't expecting. Unprecedented times. Second hand cars are actually becoming an appreciating asset class. Here's a car I'm toying with looking at: www.autotrader.co.uk/car-details/202106163890412£4.5k for a 17 year old car of no particular special interest? Bonkers, even a year ago, but now the going rate. Any thoughts about where this will all head? |
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Post by Humph on Sept 9, 2021 16:03:04 GMT
It's a bit like house price inflation, all very good as long as you have something to sell, and don't want anything to replace it.
In theory, we could sell two of our three cars for a lot more than we paid for them right now, but we would have to pay a lot more again for their replacements. Fortunately, the metal mix on our drive seems to suit us very well for now, so I'm delighted to say that I'm in my default favourite position of being justified in doing absolutely nothing.
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Rob
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Post by Rob on Sept 9, 2021 18:08:00 GMT
One reason why car prices increasing in the second hand market is there is a shortage of new cars due to semi-conductors. That is partly due to Covid because the bulk of the semi-conductors are bought by technology companies with the auto motive industry putting in smaller, less frequent orders. More people wanted laptops, PCs, tablets, etc.
I wonder what the 330e I am driving will auction for next year - I assume it will go to auction when it goes back even though its early.
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Post by dixinormus on Sept 9, 2021 19:44:20 GMT
Covid is continuing to hamper supply chains, from the assembly line to the shipping to the transporter trucks. Result: a shortage of new cars coming to market. Aren’t Toyota cutting production by 40% in Q4, for example?
Seems odd to recall that we were awash with fields full of new cars a few years back, and we also had scrappage schemes to support car manufacturers...!
The market isn’t going back to normal any time soon. Too many people chasing too few goods. Similar scenes coming to Waitrose near you soon.
Where’s the money coming from? (For cars). Doesn’t seem that many folk have suffered economically over the past 18 months?!
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Rob
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Post by Rob on Sept 9, 2021 22:49:52 GMT
Some car models (e.g. some Pugs) that used to have digital clusters for the driver display (speedo etc.) have reverted to old style analogue displays because they can't provide the digital ones.
Things will get worse no doubt. I think I'll also struggle to get a car in Greece when it's needed. Silly prices. I've seen cars you would expect to be written off on sale for thousands.
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Post by EspadaIII on Sept 10, 2021 14:59:33 GMT
On the other hand, continuning to drive an older car means resources are not being wasted on new cars... (says he who has ordered a new EV)  |
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Post by Humph on Sept 10, 2021 16:12:28 GMT
Indeed, I like to think I'm doing my bit for the planet by doing absolutely nothing. Not only is it environmentally friendly, the entire concept of inertia suits my personality.
😎
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Rob
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Post by Rob on Sept 10, 2021 17:41:09 GMT
I've joked we should ship our Seicento to Greece. Saw plenty of them on Corfu. Might cost more than buying locally though and I'm not driving a Seicento to Corfu.
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Post by Humph on Sept 10, 2021 18:36:11 GMT
I've driven a Mk1 Panda from Edinburgh to Switzerland and Italy and back on skiing trips a few times. It was ok actually, a bit of an adventure at the time. But, I was much younger then and very much skint. Good memories of that car, not so much the car I guess, but the places it took me. I expect it dissolved a long time ago. Black with a red coachline, in case you were wondering.
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Rob
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Post by Rob on Sept 11, 2021 1:52:06 GMT
The seats in the Seicento are not very supportive. Maybe no worse than my first car but some since are a lot better. Eldest step sons first car was a MkI Panda Sisley 4x4. He made quite a profit on that. Sold to a farmer who wanted a very small 4x4 for his wife. It was not Jeremy Clarkson... this was around 2004.
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Post by Humph on Sept 11, 2021 8:25:17 GMT
You still see those in the Alps, and indeed the 2WD ones in other parts of Italy. A friend of mine who lives in Rome has a mk1 Panda and a Harley Davidson. The bike gets the most use, but the wee car is for when it's raining or he needs to shift more than he can carry on his bike. Quite a wealthy guy actually, but living in the heart of the city he doesn't see any point in having an expensive or large car.
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bpg
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Post by bpg on Sept 11, 2021 11:11:31 GMT
I have no idea what the Greek market is like for car insurance, the Seicento might not be a bad way to cut your teeth in a new market.
The UK insurance market only gives you up to 9 years no claims bonus (or it did in 2015). In the German market, where you get one years NCB for EVERY year you drive full NCB from the UK does not go very far.
I'm not sure what the process is for importing a car from the UK into the EU after Brexit is. When I imported my car in 2015 they did not ask to see the COC, that may be a requirement now.
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Rob
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Post by Rob on Sept 12, 2021 1:20:54 GMT
Current conundrum is what hire car to get in a few weeks. I'd prefer an auto and original choice company doesn't have their cheap/small auto.
The next choice might and then wonder if what they say is a Pug 107 Auto is worth a risk They also have a 108 Auto but that's a cabrio or might even be a 500CC. In between cost wise is a 208 auto...
Leaning towards the latter. Or I could get a manual which removes the risk of a crap automated manual in a car I've never driven.
Need a car to explore and visit properties.
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Post by Humph on Sept 12, 2021 6:44:44 GMT
Wouldn't want to own an automated manual, but for a holiday hire car it would be OK I guess. If it goes and stops, then then it'll be fine. Having said that, I suppose the same applies to a manual.
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bpg
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Post by bpg on Sept 12, 2021 12:15:07 GMT
We've had two automated manuals. The first one was great, did exactly what it was supposed to, second one was rubbish, broke down and was off the road for three weeks while main dealer scratched their a**e head about what to do. Stop/start and automated manual would trip each other up switching between drive and reverse doing a 3 point turn. The first car did not have stop/start.
Aye, exciting times moving to another country and a lot to think about.
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