Uk used car prices rise due to shortage

mickdw

It was on BBC this morning that use prices are going through the roof in the UK due to short supply. This seems a bit mad. Any move here yet? Doubtful Id say

roosterman71

Unlikely here yet. We're screwed cos of the CO2 changes last year, meaning cars pre July 2008 are worth nothing, and aren't gonna increase cos of the tax rates on older cars

ninty9er

mickdw wrote: »

It was on BBC this morning that use prices are going through the roof in the UK due to short supply. This seems a bit mad. Any move here yet? Doubtful Id say

Definitely. Most dealers forecourts I've been on in the last few weeks have vacant spaces on them and I've been told that particular second hand models are "impossible to keep in stock."

mickdw

roosterman71 wrote: »

Unlikely here yet. We're screwed cos of the CO2 changes last year, meaning cars pre July 2008 are worth nothing, and aren't gonna increase cos of the tax rates on older cars

I agree that say a 2007 car that took a large drop in road tax on the 2008+ cars is always going to be hard to shift. Prices though for cheap tax 2008 cars are pretty low though here now compared to their new prices too.

Drummerboy08

Prices for new cars wont be going up for a long time i'd imagine, but the used stuff has risen price-wise recently.

Eoin

roosterman71 wrote: »

Unlikely here yet. We're screwed cos of the CO2 changes last year, meaning cars pre July 2008 are worth nothing, and aren't gonna increase cos of the tax rates on older cars

That's only on the more fuel efficient cars though. Would a pre-2008 RX8 not be a lot cheaper to tax than a post-2008 one?

Redisle

Not sure about price hikes but it's possible there is a shortage beginning to appear. Was around to most of the main garages in Cork the last few days and all of them are saying there's a shortage of used cars. Citing the fact the for the last few years people would have bought new and traded in 3/4 year old cars, now people aren't bothering changing or buying second hand so there's not much used stock. Honestly there was very few 03-05 cars in the garages, nearly all 07-09. One garage in Bandon mentioned that last year they would have had a stock of about 250.. currently have a stock of about 90..

If the garages start raising prices it's just less business for them tbh, private sales would then look all the sweeter.

Zonda999

I think its only kinda "recession friendly" cars that are in short supply. A relative of mine is in the car business and he says the kind of cars people are looking for are, around 02 - 06 diesels.Stuff that is mostly under €10K yet still as efficient as a new car. Makes sense i suppose..

mickdw

The uk are scraping alot of cars that typically would last for a few more years so I suppose it makes sense that demand would go up for the cars that are left.
Lots of stories on TV this morning from auctions and people who were offered very good deals from garages to change from their 2 year old car to a new one.