Used car prices sky high...

CiniO

I just gave it a thought, and it looks like that second hand cars have become very expensive comparing to what they were few years ago.

Few examples.

In 2008 I managed to buy 2001 Fiat Bravo 1.2 for €1300.
That was 7 year old car.
When I now look online for 7 year old Bravo, we are talking rather about €4k - 5k.

In 2009 I got 02 Ford Mondeo 1.8 for €2500.
Again now 7 year old Mondeo is more likely about €4000.

Is this all because of new car market collapse which happened over last years, or are there any other reasons?

wonski

This has something to do with a demand.
10 years old cars used to be bought for peanuts few years ago, now it is hard to find a good one for less than 1.5 - 2k.

road_high

I was thinking the same. Been thast way for the past 2 years ro more.
My example sold an 01 Bora SDI for €2200 in 08 (as the reccession kicked in).

Not a hope I'd say of getting say a base 07 Jetta for anywhere near that money now as a comparson. Prices have definitely risen relatively in the past few years.

pippip

The other side of the coin is the current threads of used merc cls's and BMW 525's for 5-7k

Only certain types of used cars are price moving.

Supergurrier

A 7 year old brava for 4-5k is never going to sell

I bought my 1st car a 2002 1.4 petrol Octavia in 2007 so 5 years old for 4500e

CiniO

Supergurrier wrote: »

I bought my 1st car a 2002 1.4 petrol Octavia in 2007 so 5 years old for 4500e

You wouldn't buy a 5 year old Octavia now for €4500

bmwguy

I sold a BMW 530 petrol in 2010 (9 year old car) for €3600. Took a long time to sell though, a guy came from Galway to buy it from me in Dublin.
I bought a BMW 525 petrol nearly identical to the 530 in 2013 (9 year old car) for €2400, ironically I had to go to Galway to buy it this time. Neither really in better shape than the other, both good cars.

This class of car hasn't recovered anyway

wonski

Supergurrier wrote: »

A 7 year old brava for 4-5k is never going to sell

I bought my 1st car a 2002 1.4 petrol Octavia in 2007 so 5 years old for 4500e

Bravo may not be a good example as the 2001 model was close to the end of production while the new model is a totally different car.
Friend paid for 2007 model 5k 2 years ago, a bargain if you ask me.
Same with Mondeo - 2007 model old shape can be bought for peanuts now since there is a new model issued mid-year that looks much better.

Cuddlesworth

We went through a period of 5 years with a tiny amount of new cars sold. I can find my post from three years ago pointing out this was going to happen if you want.

NinjaTruncs

Have new car prices increased in the same time, comparing a 2001 car to a 2007 car is pointless unless they are the same model, was the 2001 brave a new model at the time?

wonski

NinjaTruncs wrote: »

Have new car prices increased in the same time, comparing a 2001 car to a 2007 car is pointless unless they are the same model, was the 2001 brave a new model at the time?

No, different car - the first came out in 1995;)

CiniO

NinjaTruncs wrote: »

Have new car prices increased in the same time, comparing a 2001 car to a 2007 car is pointless unless they are the same model, was the 2001 brave a new model at the time?

True that is indeed different.
2001 was last year of manufacture of old bravo, while 2007 is first year when new bravo was manufactured.

But still - you are buying 7 year old car in both cases.


My example with Mondeo shows this.
7 year old Mondeo in 2009 (2002 car) cost me €2500 then. This model of mondeo came out in 2001 so this was relatively new car.
Not 7 year old mondeo (2007 car) costs around €4000, and this is still the same generation. 2007 is the last year of manufacture of this model.

johndaman66

To reiterate what at least one other poster mentioned I reckon it very much depends on the class of car and more especially on the fuel type. The world and his wife want to be driving diesels most especially small low capacity diesels.

Was considering buying a low capacity diesel at one stage but decided against it as prices seemed just mad. Any savings on fuel, motor tax, insurance etc would take a considerable mileage to re-coup and still all the while you are driving a piddly little diesel when you otherwise might be driving to me what would be a more desirable petrol car.

I would suggest that the prices of whats considered larger capacity petrol engined car here, 2.0 litre up and even lower capacity have relatively dropped in recent years. Would guess that the prices of lower capacity diesels have more than held their own...