Dealer contacts about buying my car back

Depends on the make, model, condition and what they offer.

It would leave you with a pot of cash to put towards a replacement but would it buy what you want?

Even before the current shortage dealers have been known to contact customers who are in the last 12 months or so of their PCP deals to see if they were interested in trading up again. Even more so now if your car is in short supply and high demand. Used car prices are high as a result so they might have a customer looking for a car like what you have. But as you said new cars are thin on the ground with some having long waiting times and have also risen in price so it's a double edged sword. If your interested in trading then listen to what they are offering but if your not then just let it go.

I'd enquire to see what kind of timeline there would be in them sourcing you a new replacement, guessing that's what you would want to do? Lead time could be over 6 months with chip shortages.

I think 0% PCP offers are going to removed for a while unless it's something hardly anyone wants or a run out model. With new cars short in supply and with very long delivery times there will be no need for such incentives.

It's a perfect storm, shortage of new cars but the main issue is Brexit, given UK imports were outselling new cars for the last couple of years. Dealers are desperate to get there hands on used cars at the mo, knowing whatever they pay will flip for 1-2k profit straightaway.

Local dealer bought my sister's for sale privately car recently for 10k cash, was up on their website for 12, and was gone within the week.

Like the housing market, i don't see this bubble collapsing anytime soon.

It's more a shortage of the stuff 3-6 years that would traditionally have arrived in from the UK on the cheap that are missing. Not enough people here buy new cars for that stock to feed down to the foodchain in the numbers needed.

Exactly, new car sales have never sustained the market here, before the UK there were Jap imports. There is a huge hole in the market now.

Without a used car import market now the real effect of VRT, again a direct intervention by the state which skews the relative value of something, will be felt in everyone's pocket.

Yes they could zero VRT certain categories of newly imported used cars any time they want. If this was done for 6 months or a year it would stabilise the market to a degree.

You saw it here first 🙂

I wonder what position SIMI would take on it?

I passed a place that used to sell UK imports yesterday and it was sad to see the state of what was a good business run by a man who is in the trade for years.

No stock and gates locked.

Excellent deal, is there much of a wait getting the new one?

Perfect, very cheap motoring for 3 years.

Fingers crossed they do it again next year :)

I know what you're saying, but a car that's immediately available rather than 3-6 months away, possibly longer depending on model due to the chip shortage means the used market is gone nuts, and something like a Q2 is going to be in high demand, new or used.