Crazy Car Prices

Laura2021

Does anyone eles think the price if cars at moment is just crazy and will they come back down in price.

I have a good idea of what cars are worth what came across a 2014 BMW 320 and they have it up for over 20k .

Come on now who's paying that for a 9 year old car 

JohnCleary

People are paying, that's the problem.

Was at a Wilsons auction yesterday (not for cars, granted) and the 'take home' prices were just through the roof.... people possibly losing the run of themselves at auction.

Buddy Bubs

A particular car model in a 2018 plate is the same price now as a 5 year old as it was in 2020 as a 2 year old when I first started keeping an eye on them. With higher mileage now of course and more wear and tear.

The price of a new one has increased by about 10k in the 3 years too, without much changes or specification.

Out of the market for it now myself but keep an eye out on prices for interest

beachhead

Just because a car is advertised at one price doesn't mean it will sell/exchange for that.But some main dealers are fantasists about values.I had one dealer quote me e4000 more than the eventual price I paid.

Laura2021

https://www.boards.ie/discussion/comment/120617434#Comment_120617434

Exactly so I can't bring myself to pay that as I know what it's really worth like you said more wear and tear so more then likely you have to keep getting things fixed .

goochy

New cars are so expensive these days , saw a no of used cars with their prices slashed by thousands at a main dealer today . Not high end cars but MGS must be hard to get trade in prices right these days

https://www.boards.ie/discussion/comment/120617644#Comment_120617644

There isn’t a fixed price/worth of a car so it’s difficult to see how you could know exactly what a car is worth. The market will set that.

So much has changed over the last few years, those changes have had a very obvious effect of used car prices. The UK exiting the EU has had a huge effect on the used car market as the number of imports have dropped off a cliff, delay in new car deliveries due to Covid, war in Ukraine and chip shortages mean that cars ordered today take much longer to arrive. Also the price of new cars in general have increased considerably, pushing up the value of used ones. So the value you “know” is not necessarily an accurate reflection of the current value of that BMW.

I recently sold a two year old car for more than I paid for it new, but my new one will not be delivered until at least the first quarter of new year, possibly the second. The reason I sold it now was that the dealer could not tell me what it would be worth at trade in next year, could hold its value, could drop quite a lot depending on whether supply increases. So I’m not sure in such a volatile market, how anyone could claim to know exactly what cars are worth.

corsav6

Paid €9200 for a car 4 years ago and I see them on done deal for over €10,000 now, and 2 of the exact model are €12,500 in dealers.

I have a small van, 08 reg with bad paintwork but less than 90k on the clock and excellent condition otherwise. Worth about €1000 at best. I was offered €2500 outside the test centre a few weeks ago.

It's beyond stupid the prices people are willing to pay.

StonedRaider

Brought in a UK 67plate Volvo XC some 5 years ago. Top spec D5 inscription model. Sold it January for more than I paid. Mad or what.

Also got a 27 year old Italian play thing in the garage that has more than quadrupled in price. Only ever seen 1 other come up for sale in the past 10 years

bodonnell

There was a 2020 Civic S-Design (pre face-lift) on carzone etc a few weeks ago for €32950. They were €31500 approx when new !

Since gone. What for though?

kindalen

I just refuse to change at present prices, was half tempted to sell my present car and go the bangernomics route for a year or two. Very happy wiith present car, will probably hold it for many years to come.

antodeco

I've noticed that lower spec models of one of mine (albeit with lower milage) are for sale for 3-4 times what I paid for it 6 years ago

Strumms

Many dealers here are having trouble getting in new stock of new cars in sufficient numbers .. I’ve read and told it’s in part to do with the global microchip shortage … lots of motoring publications back this outlook….

if there is a scarcity of new cars, there will be to some degree a greater demand for used cars, which will presumably mean they become more expensive… supply vs demand etc..

goochy

i do think older ' cheap' cars have been undervalued here for years . Our reg . plate system and snobbery mean good older used cars are worthless . In other countries these cars would be worth more.

Trucks, vans and jeeps seem to reach a certain low value and then go no further really once they are driving and tested.

User1998

https://www.boards.ie/discussion/comment/120618252#Comment_120618252

Our tax & insurance system doesn’t help either. Most people can’t justify paying €1000+ on some older cars so they just become worthless to most people. But in Europe these cars could still be worth €10k+

colm_mcm

There’s a 2019 Polo 1.0 comfort line in a dealers for €1000 than the list price including delivery when it was new.

https://wexfordcarcentre.nissan.ie/used-car/volkswagen-polo-cl-10-m5f-65hp-5dr-0?destination=make=317_model=480_age=2019.2-2050.2

sonyvision

I agree used car prices are a lot higher than people are used to. Are most people earning more cash now then in 2016/2017? I know I certainly am and. Used car prices will be whatever people are willing to pay and there is simply more money floating around and a shortage of new cars. Not everyone is better of but the cost of living crises does not apply to everyone evenly.

M3CS

I think you'd be crazy to buy in a car now unless you were seriously stuck. This time last year I had five cars and only two of those are left now. It's a good time to sell so I've taken advantage of this madness and I haven't even considered replacing any of the cars I sold as the price of everything is so inflated at the moment. I consider myself very lucky that I'm in a position where I don't have to participate in this market because there's no value whatsoever out there.

spark_tank

I started keeping an eye on DoneDeal for an new (to me) car a few weeks ago. 70k cars online then, 75k+ now. Prices will go down if it continues. Even as it is, a lot of cars seem very slow to sell.

Lads it's global issues working through from COVID but it's Brexit killing us.

We can't get cars from the rest of the EU so are being double taxed from the only market where we can source 2nd hand

For once you have SIMI and the greens in agreement and nothing will happen to alleviate VRT. The simple answer would have been any car registered in another country (say more than 6 months) avoids VRT. Not happening with Ryan at the helm

Wildly Boaring

Our secondhand stock is coming from 2012, 13, 14. The years when we were recovering from recession. Sames were low and mainly small diesels or crossovers. Want anything else, god luck.

Secondly, and perhaps more importantly, brexit has stopped most UK imports.

Then there are lunatics pricing their cars. I changed recently, some of the asking prices are madness. One A7 has dropped 7 grand since first advertised and it started at 25k. So people are just chancing their arms.

Be interesting to see if windsor agreement sorts some UK stock. Supposed to allow dealers claim VAT back.

creedp

https://www.boards.ie/discussion/comment/120618488#Comment_120618488

Jaysus that's madness. Presumably nobody will actually pay that price for a 4 Yr old Polo. I'm assuming there must be a mistake in the ad, how could a 4 Yr old car have done just over 3k km

CalamariFritti

What I don't understand is with all those PCP deals seemingly half the country is on for a number of years now shouldn't there be loads of 3 and 4 year old cars around for sale?

reubenreuben

https://www.boards.ie/discussion/comment/120618252#Comment_120618252

It doesn't help that the road tax is high on pre 2008 cars

reubenreuben

https://www.boards.ie/discussion/comment/120620071#Comment_120620071

It will backfire on the greens as everyone will be driving older cars with higher emissions. Ryan is a tool, doesn't live in the real world.

CalamariFritti

Continue driving your old car is always greener than buying a new car. Most emissions occur during production of the car not during use. And there are plenty of considered opinions who say this is even truer for EVs.

The whole EV thing is far from clear cut and whatever gains there may be depend massively on what type of electricity they're being driven on.

Lastly let's not forget the last stunt of the greens where they made us all go diesel to be 'green'. Now how did that work out?

Stheno

My 2007 Slk would sell for more than I paid for it five years ago

djan

Another aspect of the price increases is the high levels of inflation. Being in double digits over past few years has nearly cancelled out depreciation, added to that reduced production levels of new cars and no more UK imports.

Don't see it getting any better into the future...

ofcork

New prices are nuts saw a C180 AMG line for nearly 75k for a c class!!!

https://www.boards.ie/discussion/comment/120620680#Comment_120620680

No matter what, EVs are a better option.

Power efficiency of power plant Vs ICE engine. Any pollution produced is outside population centres Vs a cae idling in a city. Power generation from people's roof.

Don't chuck your car to buy an EV but when you are buying again the EV is a better option

colm_mcm

https://www.boards.ie/discussion/comment/120620131#Comment_120620131

They have another one with a similar reg for €1000 less than it was list price new.

Polo 60ps is €25k now, Golf TSI was €21k in 2018, that’s €30k now

creedp

https://www.boards.ie/discussion/comment/120621858#Comment_120621858

Maybe I'm delusional but why would anyone pay €20k+ for a 4 Yr old Polo when a brand new one can be had for €25k?

colm_mcm

https://www.boards.ie/discussion/comment/120621935#Comment_120621935

Polo used prices have always been beyond logic.

goochy

People's obsession with vw is beyond logic

bazz26

The seller of the 4 year old one has probably priced it on the premise that there is a long lead time on getting a brand new one. Still long lead times on certain cars. Also plenty of 4 year old Tesla Model 3 for sale at similar asking prices to what you can buy a brand new one for right now too despite recent price cuts.

creedp

https://www.boards.ie/discussion/comment/120622035#Comment_120622035

Agree on high M3 used prices. Been looking at picking up a 2020 SR+ but will not be buying one unless prices drop to low €30ks. If they don't I'll be sticking with diesel and Leaf as a local runaround. At current crazy used prices it would be madness to buy anyrhing other than a new M3

bazz26

I wouldn't buy any Tesla at present to be honest with the way Musk is messing with prices. Shifting volume might satisfy Tesla shareholders but unstable resale values ends up costing owners.

creedp

https://www.boards.ie/discussion/comment/120622263#Comment_120622263

I wasn't a fan either, in particular not sold on the single screen controlling all functions, but to my mind its hard to beat the M3s combination of power and efficiency at current prices

User1998

You can pick up 2019 Model 3’s now for less than €30k after some negotiation. But I reckon the best time to buy will be December. Another 6 months of depreciation but just before the VRT grant finishes which will keep prices firm. I’d say you’d pick one up for mid to high €20’s in about 6 months time. Add a couple of grand for a 2020 model

https://www.boards.ie/discussion/comment/120622029#Comment_120622029

Polos are very popular with new drivers, they are nice compact cars and cheaper to run/insure, so they were always more expensive than other similar sized cars. We looked for one for our daughter a decade ago and they were hard to get then, they were even expensive to buy and import from the Uk for the same reasons.

LasersGoPewPew

I was looking at 2014 golfs recently as a second car. Almost 13k average for a 1.2 petrol automatic, most of them are japanese imports which will be hard to sell on again due to the insurance cartels. Crazy prices.

User1998

https://www.boards.ie/discussion/comment/120623187#Comment_120623187

Japanese import Golfs are not hard to sell whatsoever. No difference in insurance between an Irish one or Japanese one.

The reason they are expensive is because they are low mileage automatics. If you want a cheap Golf you can buy a high mileage diesel for half that

LasersGoPewPew

https://www.boards.ie/discussion/comment/120623262#Comment_120623262

My insurance company refused to insure jap imports. I'll have to try a broker

beachhead

https://www.boards.ie/discussion/comment/120618088#Comment_120618088

Honda have increased their prices since 2020.Those increases bring up the 2nd hand price of all their models

What's a pity, in the days of EV simplicity drive trains, is that you can't EASILY convert to right hand drive.

Imagine the panic in the Irish gouging industry if Paddy spec went out the window

https://www.boards.ie/discussion/comment/120624805#Comment_120624805

While importing a car from the EU would be similar to what it used to be from the UK, it would still be liable for VRT, and VAT if new, so at best the increase in volume would have a downward pressure on prices, but I bet car costs in other countries have also increased for similar reasons to here. The specs on our cars, though lower than the UK, may be higher than on the continent. Years ago when living in the UK I looked at buying a Merc by ordering a RHD through a dealer there, the models were basic and by the time I added in the bits that were standard even in Ireland, they added up.

goochy

You can't buy a new car abroad any more , manufacturers don't allow it . Also as said it's not the factory price that makes our cars expensive . It's the taxes etc

alan partridge aha

Wife changed car in January, didn't give us a great trade in price on old car. €1000 under what I thought I should have got.

However the price of the new car was just too good to let go. 212 Q2 35 TFSI Stronic SE at 31k. List price circa 43k.

I see they have the same car and spec with higher miles for 35k+.

stylie

Hi,

When is the best time to buy a second hand car ? wait til July when the new reg is out or June when sales guys might be under pressure to sell ?

Lord Nikon

Where are these buyers at? I’m in the market for a new car, dealership offered me €4k less for my trade-in than what Carzone valuation was coming in at. Maybe I shouldn’t trade-in.

User1998

https://www.boards.ie/discussion/comment/120627540#Comment_120627540

Carzone valuation is never correct, always over estimates. I think all it does is take all of the advertising prices and gives you an average based on year and mileage.