Have second hand cars gotten much more expensive since 2009?

CarPark2

I bought a 3 year old Ford Mondeo in Northern Ireland in 2009 for GBP£6,600. It had 29,000 miles; 2L; 130 bhp; 6 gears; cruise control etc. etc. It had a full service history and definitely wasn't clocked. I have put 130,000 miles on it since and it has been brilliant.

Now I am looking for an update. Similar cars now (~3 years old; ~ 30,000 miles) cost minimum GBP£10,000. http://www.autotrader.co.uk/search/used/cars/ford/mondeo/postcode/bt126hr/radius/1501/onesearchad/used%2Cnearlynew%2Cnew/ni-only/on/maximum-mileage/up_to_40000_miles/body-type/hatchback/transmission/manual/fuel-type/diesel/engine-size-cars/2l_to_2-5l/sort/default/maximum-age/up_to_4_years_old

It seems like a drastic change. Have second-hand car prices changed that much?

bazz26

There are a lot of factors to take into account. The Mondeo you are looking at now cost more when new than the Mondeo you have now as standard features increase. You also have to take into account the likes of currency exchange rates, inflation, etc. The same thing will apply to the new Mondeo just launched, in 3 years time you will not buy it for the same money you will buy a 3 year old current model.

CarPark2

GBP£3,400 seems like a big increase in the space of four years.
I bought a standard desktop computer 13 years ago and it cost ~€1100. A standard desktop now (much higher spec obviously) would cost ~ half of that.

If the prices have gone up, that is fair enough. I just wanted to check that I am not missing out on something. I looked five years ago and am looking again now, but I haven't followed it at all in between!

bazz26

You can't really compare car prices with computer prices as the factors that govern the value of both are different.

bazz26

You also have to factor that in 2009 you bought a Mondeo model that was replaced with a new model two years before hand. You are now looking at a 3 year old Mondeo that is only being replaced by a new model in the next few weeks. Prices will drop on the current model once the new one establishes itself as a popular seller.

CarPark2

Fair enough.
So basically, the price of new cars has gone up and the price of second hand cars has gone up since 2009? This is a general trend and not a case that I am looking in the wrong place or that the Mondeo is peculiar in this regard?

commited

The UK holds much better value:

40k for under 7k:
http://www.autotrader.co.uk/classified/advert/201411108883740

A few more miles but 1 year newer for under 7.5k:
http://www.autotrader.co.uk/classified/advert/201409107286708