Have used Car Prices hit top level

eusap · 07-04-2022 10:10am #1

In the market for a large family car so being watching a few forecourts/online for pricing/availability etc... I noticed for the previous 6 months from February, cars in Forecourts lasting a couple of days some not even making it online etc... then come march it seems to have stopped, was looking at 2-3 cars in different garages and they have low availability nationally and they haven't moved, in my opinion they are overpriced and wondering now has the market exhausted the people who will just buy the car for whatever price or are people worried about effect of war and now some real value might start to be seen?

Killer K · 07-04-2022 9:03pm

There has been no significant improvement in supply so I don't think used car prices have necessarily plateaued.

You do have a good point on the demand side. The impact of the Covid savings will have fallen off a little. Also with prices of cars and fuel (including electricity) having risen substantially some people may begin to question whether they actually need a car and others questioning whether they need two or more cars in the household.

Atlantic Dawn · 11-04-2022 10:51am

Unless a nuke is fired the prices now are going nowhere for a long time.

Board Walker · 11-04-2022 9:18pm

I bought a 420D in January 2020 for 27500. It had 35k Km and M Sport Pro.

I see a Private one up for sale yesterday with 80k km on it the same spec for 28,000 euro!

11-04-2022 9:23pm

car hire prices are crazy high.

They don't appear to be buying from a combined fear of another lockdown and a desire to gouge from a smaller stock of hire cars.

If they aren't buying they aren't selling either so don't expect that normal source of supply to help this year.

Buddy Bubs · 12-04-2022 11:00am

I don't expect supply to increase short term meaning high used prices here to stay for the moment. Nobody has convinced me otherwise anyway. Remember that used cars are also related to new car prices too.....which have gone up for reasons other than supply too.

The cars I am looking at (5 series, A6) have gone from well under 60k to well over 65k since covid for a new one in the spec I want (msport, sline) so used price have been higher too.

Lantus · 14-04-2022 8:21am

New car chip woes are set to ease later in this year as supply ramps up and more so into 23. So another 6 to 12 months before lead times for ordering a new car drop to a more reasonable level. Like 4 to 8 weeks. As buyers go back to buying new used prices will start to drop. Just how quickly is anyone's guess.

drunkmonkey · 14-04-2022 8:45am

https://www.boards.ie/discussion/comment/118915452#Comment_118915452

Not sure what engine your looking at but a lot of 3/5 series, A4/A6 diesel type cars are in a high bik bracket come January, I'd guess you'll have businesses off loading them and opting for more bik friendly cars with low emissions. That could put downward pressure on used prices and a slower demand on new ones.

Also diesel has become more expensive in comparison to petrol, I wonder will the government allow that price difference to get larger as it suits some of their policies.

Not sure if it'll play out like that but if there's a good supply of new cars in January/February it's possible.

dodzy · 18-04-2022 7:05am

i dream that the powers that be will undo or find some way to open up IE/UK trade on cars as it was pre-brexit. That’d change things dramatically.

Again, I dream.

brokenangel · 18-04-2022 2:22pm

https://www.boards.ie/discussion/comment/118941786#Comment_118941786

The issue with the trading of cars with England was the amount of diesel cars brought into Ireland.

That been said I have seen articles in the UK about someone buying a car, driving for 2-3 years and selling now at the same price they bought, so England isn't full of cars either.

Diverboy · 19-04-2022 3:23pm

It appears to be getting worse for some cars. Recently viewed a 2019 520D. Msport Pro pack so had the upgraded 20inch wheels, Harman Kardon speakers etc. Dealer wanted an extra 1k for the wheels even though they were fitted in the factory!!

brokenangel · 19-04-2022 3:37pm

https://www.boards.ie/discussion/comment/118947022#Comment_118947022

Good BMW's are difficult to find, even last year I was looking at X5's and the likes of Joe Duffy etc had nothing. My mate has a nearly new X3 he bought via Joe Duffy and they ave rang numerous times trying to get him to trade in for a new one so they can take his old one

donkey balls · 19-04-2022 9:07pm

Left my A6 quattro in to AUDI for engine gear Box oil change, Got talking to one of the lads working there he said that I would get a great deal on my car but could be waiting up to 12 months for a new one.

I use to be looking up 2nd hand cars on their website pre Brexit and there was loads to choose from, Back then the oldest car they would have on the forecourt would be 3 years old now they have cars 5 years plus for sale.

Buddy Bubs · 19-04-2022 9:12pm

https://www.boards.ie/discussion/comment/118949015#Comment_118949015

Great price on your car but not a great cost to change I would bet. I've an A6 and am shocked how much it is still worth but trading up years is massive money so I'll probably keep it.

Cost to change has never been higher for most cars, I'm sure there's the odd exception.

donkey balls · 19-04-2022 9:20pm

Yep my car valued around 30k so it be another 20k to get something newish, The lad in the garage said there is not many cars like mine quattto blk edition etc.

Plus the ones they have are bog standard A6 with 17/18 inch alloys none blk edition.

rodge123 · 23-04-2022 9:37pm

Was looking at 6 pots last year as second car for household and was half considering a c or e class coupe. Ended up going for an i4 instead!

Anyway, one of the c class coupes I seen online was up for 56k at the time (4 years old).

Looks like it is still up nearly a year later and now 59k.

Complete madness, they are hardly gonna sell it anywhere close to that price. I really hope nobody pays it. I certainly wouldn’t.

https://www.carzone.ie/used-cars/mercedes-benz/c-class/fpa/202010235343559?journey=Search

E400d coupe was preferred choice but was literally zero available in republic! (Vrt rates importing from UK made it nearly as expensive as top specced new I4 40)

I4 was probably far more sensible choice in end I suppose!

macvin · 23-04-2022 9:46pm

https://www.boards.ie/discussion/comment/118941786#Comment_118941786

I'd check the state of the UK market before making assumptions.

It is utterly chronic in Britain and up here in northern Ireland.

One year old cars are selling for more than the list price of a new one in some models.

Waiting lists for some cars are into 2023.

Auction prices are up over 20% and sterling is stronger.

rodge123 · 23-04-2022 9:50pm

https://www.boards.ie/discussion/comment/118967863#Comment_118967863

Yep, remember considering an 2017+ e400d coupe from the north last year and there were five or six available. A search now shows zero!

macvin · 23-04-2022 10:02pm

https://www.boards.ie/discussion/comment/118967887#Comment_118967887

If you want a new ford fiesta you will be refused! They won't even take an order.

Even a piece of rubbish like the vauxhall/Opel mokka has a delivery date of march 2023!

bigroad · 23-04-2022 10:06pm

There looking for 10 k for standard enough cars that are over ten years old with 250 k on them .Total madness.

26-04-2022 10:54am

The issue here is the "going up the years" mentality. Just buy a well taken care of car that suits your needs and budget and don't worry about the 1st digits of the number plate. Take a good care of the car you choose and it will then be worth something (hopefully a lot) when it's time to replace it with another one.

Don't fall into "I didn't service my car for three years and I knew it was going to fail". For the same reason boycott the cars that were neglected in the past.

paddydriver · 26-04-2022 11:01am

https://www.boards.ie/discussion/comment/118949118#Comment_118949118

Very interesting... Thanks. I've a 2017 A6 Black Edition with Tech Pack etc and only 40k Km on it. I am considering selling and just then buying something else long term. We can manage on 1 x car for now as I am WFH for most of my time anyway.

Any thoughts on how best to go about this? - sell privately or do dealers buy cars that are not being traded in. I am honestly just cagey about having to deal with private sale with scammers and tyre kickers etc.

Any help is much appreciated.

littlevillage · 26-04-2022 11:27am

https://www.boards.ie/discussion/comment/118947089#Comment_118947089

I think you'll find the motor dealers primary aim is to sell your mate a new car.

When things are slow at a Dealership they contact previous customers and blow smoke up their asses about how valuable/desirable their used car is, in an effort to reel them in .... Its a shameless sales technique

donkey balls · 26-04-2022 8:32pm

I have heard adverts on radio for a certain premium dealership looking for people to sell their cars for cash, The Dealership I bought my car from said they offer cash as well.

bcklschaps · 26-04-2022 9:12pm

Just remember a Dealer or any of those 'Cash for cars' crowds will not offer you anything like Market value for your car.

Buddy Bubs · 26-04-2022 9:34pm

My car is in dealerships for approx 20-21k. Overpriced but that's the market at present isn't it.

Anyway, I've been offered 16s and 17s for it both as a trade in and as a straight purchase by dealers. In around what private sellers are asking. Shows that dealers probably not interested in selling them for under their own asking prices too.

Valentin_N · 26-04-2022 11:57pm

For what it's worth, over the past 3 months I've been tracking used car ads for a very specific brand, model, engine and transmission. During this time I've seen 17 price reductions and 3 price increases.

maddness · 29-04-2022 2:30pm

https://www.boards.ie/discussion/comment/118982017#Comment_118982017

Interesting. Would you mind sharing what car?

Valentin_N · 29-04-2022 4:23pm

I'm tracking approved used Skoda Superb 2.0 TDI auto (link).

Buddy Bubs · 30-04-2022 10:36am

https://www.boards.ie/discussion/comment/118993854#Comment_118993854

I've noticed some cars heading back towards the price they were when I was legitimately looking at buying. Well specced 2018ish 5 series and A6s. That said, it's the 2020 price these cars are getting back to. For most of 21 and 22 they have been well above that price.

drunkmonkey · 01-05-2022 11:47am

https://www.boards.ie/discussion/comment/118996856#Comment_118996856

There seems to be a big drop off in new demand for those type of cars, Saloons are down a lot along with diesels, manuals even less desirale as a new car. I'm not sure if that's down to shortages or a change in consumer habits. Some intresting stats on beepbeep if you compare the 1st 3mts of this year to the 1st 3mt of 2019. https://stats.beepbeep.ie/

Killer K · 01-05-2022 9:04pm

Interestingly in the UK used car prices are down just over 2% both in March and April.

There seems to be a slow down in demand. I would guess this is due to post Covid related factors and some consumer hesitancy given fuel inflation and cost of living increases.

The same may be occuring here, I haven't come across any data to know for sure. Perhaps others would know anecdotally what way sales are.

I don't see this leading to a steep decline in the UK as there is still serious pressure on the supply side and will be for another while.

Casati · 13-05-2022 9:20am

I was looking at dearer stuff to get an idea of prices and was 100% sure I found peak madness with this VW Touareg pre-reg for 130k. The list on this in late 2020 was 86k and any VW dealer would have let it out the gate for closer to 80k

https://www.donedeal.ie/cars-for-sale/volkswagen-touareg-r-line-3-0tdi-4-motion-286-bhp/30739868

Then I see this one which looks imported sold outside the dealer network for the same 130k asking price - and its Sold!!

https://www.donedeal.ie/cars-for-sale/volkswagen-touareg-sold-3-0-v6-tdi-286-bhp-black/30618254

I can't for the life of me work out why anybody would spend this money on Touareg- grand car but to be honest one I always found to be overpriced and that's when they were 80k