What's your general feeling about the car market?

[Martylaa]

I've always went for a 2 year lease deal over the last 20 years barring a couple of purchases, this year I was thinking about just biting the bullet and seeing about getting a car on a PCP deal.

I'm not into anything fancy and cars now are just a means of getting from A to B tbh for me, I've seen a decent lease deal on a decent cheapish SUV and just wondering whether to go for it and see where the market is in 2 years time because at the moment second hand cars are pricey, new cars seem to have long waiting lists and I'm not sure if I want to buy now as I'm curious where electric cars are going (so don't want to tie myself into say buying a diesel car now for 3 or 4 years on a PCP deal) with regards to recent price rises on energy costs, charging networks and the rumours about government looking to get money from EV's as less revenue coming in and going forward.

Lease deals in general are very poor and second hand car prices are high compared to a couple of years ago.

[BritishExpat]

The 2nd hand car market is nuts at the moment, and prices aren't set to drop in the short term, due to knock on effects caused by the semiconductor shortage. How long this will last for is uncertain but new cars have dried up and this is affecting all manufacturers from what I can tell. I've heard that it's not in the motor trades interests for the prices to suddenly drop off a cliff and supply will be restricted to keep prices high, but that could just be nonsense.
Who knows, I just sold my Mercedes for decent money to a dealer, who will in turn resale it for even more. I've also probably paid over the odds for a low mileage Audi A8 which isn't ideal, but I needed a replacement and everything that caught my eye was overpriced in my opinion. I was after a cheaper car but struggled to find anything decent for vaguely sensible money. A couple of nice cars that weren't got snapped up straight away. People are trying to sell cat C/D/N/S cars for what the equivalent straight cars were going for a while back, and acting like they're bargains.
I think your idea re the lease for a SUV might not be a bad idea at the moment, although the days of crazy cheap leases (Golf R's for £300 for example) seem well and truly over as you say.
One thing that I did notice though when looking for a 2nd hand car was how few were privately advertised. Not that long back I would always buy privately and there was a good selection of cars offered up on Autotrader by private buyers. Now, with the cars I've been looking at (Audi's, BMW's and Merc's) 8-9 out of 10 cars for sale are from traders.
One of my best friends swears by bangernomics, as the best and cheapest way of motoring but I tried that a while back with a cheap Fiesta that I bought from here to run around as a stop gap, and that ended up costing me 50% of the purchase price when the HG failed in spectacular fashion so that's not for me.
Saying that, there's a lovely old RR that's come up for sale on here, I remember when they were launched in the early 2000's and I absolutely loved them. It's got me doing man maths and trying to justify having it, the A8 and the GT86. Whoever buys it could probably keep it for a year or 2 and provided nothing went wrong get most if not all of their money back. That's what I'm currently telling myself anyway. I need a car for tip runs etc.
Good luck whatever you choose to do.

[Toddy]

I've just taken a lease deal out for the first time, 3 years on an Audi A4 Avant Black Edition. I was like you, secondhand car prices were too high, didn't want to go the PCP route and wasn't sure what the EV situation would be in years to come. I'll run the A4 for the 3 years, hand it back and see what the markets/EV's situation is then. I'm happy to run a petrol car for the next 3 years, maybe didn't get the best deal ever (as they seem non existent at the moment) but happy to pay the price I've been given.

[Suds]

Why new,if it’s just to get you A2B? I’ve just bought a 10yo approved car from a main dealer - low miles, excellent condition for the same price (and cheaper) as private sales

[xellos99]

No sympathy for people who "need" a brand new flash car every two years of their life.

I do feel bad for young drivers though, they are getting robbed blind to be on the road.

[reggie747]

No sympathy for people who "need" a brand new flash car every two years of their life.

The OP said, to him, that cars are just a means of getting from A to B.
He never mentioned flash...

[Martylaa]

Why new,if it’s just to get you A2B? I’ve just bought a 10yo approved car from a main dealer - low miles, excellent condition for the same price (and cheaper) as private sales

Simply I don't need the hassle of getting a second hand car only to find I may have issues down the line, only reason I've always had lease cars over the last decade, any issues just ring the dealer, get a loaner and hand it back to be fixed, only ever had to do that once tbf.

[Martylaa]

No sympathy for people who "need" a brand new flash car every two years of their life.

I do feel bad for young drivers though, they are getting robbed blind to be on the road.

Thanks (wasn't looking for sympathy tbf), wouldn't class a Kia Sportage as flash tbh but others might? Reason I go for a new lease deal is simply any issues then simply hand it back to be fixed, 2 years later hand it back.

[xellos99]

The OP said, to him, that cars are just a means of getting from A to B.
He never mentioned flash...

i apologize to the OP if they think i was talking about them, it was not directed at anyone specific and was not meant to sound like a swipe at the OP

[Martylaa]

i apologize to the OP if they think i was talking about them, it was not directed at anyone specific and was not meant to sound like a swipe at the OP

No worries.

Tbh I did think this year I would go for maybe a 1or 2 year old car and move away from lease deals but I just don't see any value in there atm, my luck I'd pay over the odds for a second hand car and the market prices will nose dive an a year or two.

[Watchmanuk4]

I’m waiting to see what happens after the supply issues ease and electric cars and infrastructure are more developed. Seems to me like a lot of manufacturers’ better electric offerings are gonna be 2022 or 2023 releases. In the meantime I have my fingers crossed that the Saab 9-3 I bought 18 months ago will keep going and not need major work. Saving me huge amounts every month at the moment and remains a decent car to own and drive.

[Devonian]

If it’s a good deal then I’d just go for it. I think leasing is a good way to go as you know the exact costs at the start, don’t have to worry about repairs and can hand it back and walk away.

Car prices seem crazy and whilst the semi conductor issue is still there, it looks like it will start easing in months to come. Might take a year or two but you won’t have to worry about it. Also in two years electric cars and charging etc may be far better.

[P ELLIS]

Sold one of the ICE vehicles and replaced it with a kia e niro . No issues with infrastructure for charging at all as its to get me from work and home . The costs been minimal for charging as its free at work and i hardly charge at home

[mrushton]

Find myself watching high peak autos on YouTube. Had some great cars on there. Volvo for £300. If you spend another 300 and get 18 months out of it it's cost <40 pm. Caveat emptor of course .applies.

[unclealec]

You wouldn't believe what I have just had to spend on buying a 50-odd year old Morris Minor van.

You couldn't give them away ten years ago.

And I now think that Post Office telephone engineers spent more time working on their van's speedometer than on telphones.

[Chris_in_the_UK]

You wouldn't believe what I have just had to spend on a 50-odd year old Morris Minor van.

You couldn't give them away ten years ago.

And I now think that Post Office telephone engineers spent more time working on their van's speedometer than on telphones.

[pacifichrono]

Car prices in the U.S. are INSANE. The average new car price is over $47,000, or £35,000.

[watchlovr]

I’m possibly going back into a big Mercedes coupe.
The S500 coupe, or even S63 coupe are getting into my price range, I predict they’ll go down further as the price of fuel (and energy) goes up.
These are just about as good a vehicle as you can buy, for my point of view.
Dear on fuel, but no more than a 4x4.
Soon as I can get one for £25k, I’m in.

[RobM]

Last year I bought a BMW 540i for £25k. I sold it in Jan via Motorway for £25371. It’s now advertised for sale again for £27998 (and they’ve advertised it terribly and not pointed out some rare options, but that’s beside the point).

It’s mad out there. I sold this car because the second hand market made it financially advantageous, and I’ve bought something half the price which I’ll keep until things settle down. If the market does suddenly drop the risk is reduced by having less money tied up in it. If it stays the same as it is now, I might not lose much money.

Next year, if things as still crazy, I think I’ll lease. At some point the market will drop and so long as I’m happy with the monthly payments, there is an element of protection against the price drop.

[Martylaa]

I’m looking at a 2 year lease deal, 10,000 per year on a Kia Sportage GT-Line Diesel Manual. It’s £265 a month and about £1800 up front, nothing like that 840 grand coupe I could of had for £400 a month a couple of years ago, how times have changed.

Think I’ll just go with the Kia, then in two years see how the market is then.

Who knows maybe in two years I’ll have a better idea where EV’s are going, have to say the Kia EV6 is a bloody good looking car, but as all EV’s bloody pricey atm.

Sent from my iPhone using Tapatalk

[Rod]

Why new,if it’s just to get you A2B? I’ve just bought a 10yo approved car from a main dealer - low miles, excellent condition for the same price (and cheaper) as private sales

Exactly, why take the hit when you drive it off there forecourt and lose money on a new car.
I've always bought low mileage s/h cars (Honda or Toyota) reliable, cheap to run low cost motoring. (Well I am a Yorkshire lad) 😁

[adrianw]

Thanks (wasn't looking for sympathy tbf), wouldn't class a Kia Sportage as flash tbh but others might? Reason I go for a new lease deal is simply any issues then simply hand it back to be fixed, 2 years later hand it back.

Irrelevant of the finance vehicle, most new cars are under warranty for longer than you propose to lease it for, lots are also coming with free servicing, unless you specifically pay for a loan car in your lease it is up to the dealer if they give you a loan car.

[adrianw]

Last year I bought a BMW 540i for £25k. I sold it in Jan via Motorway for £25371. It’s now advertised for sale again for £27998 (and they’ve advertised it terribly and not pointed out some rare options, but that’s beside the point).

It’s mad out there. I sold this car because the second hand market made it financially advantageous, and I’ve bought something half the price which I’ll keep until things settle down. If the market does suddenly drop the risk is reduced by having less money tied up in it. If it stays the same as it is now, I might not lose much money.

Next year, if things as still crazy, I think I’ll lease. At some point the market will drop and so long as I’m happy with the monthly payments, there is an element of protection against the price drop.

I stuck my AMG GT in WBAC out of curiosity, they offered me more than I paid for it two years ago.

[apm101]

Just a heads up- if you work for the NHS and your employer takes part, some great deals are available on electrics via NHS Fleet Solutions. We have a VW ID.3 for under £200 per month, including insurance and fitting of the charging point. These are still available, as well as some other good deals.

[bloater]

Just a heads up- if you work for the NHS and your employer takes part, some great deals are available on electrics via NHS Fleet Solutions. We have a VW ID.3 for under £200 per month, including insurance and fitting of the charging point. These are still available, as well as some other good deals.

Just checked my wife’s scheme as hers is via Tusker ID.3 from £210 but a 54 week lead time, the wife’s still got over 2 years remaining on her current car, if the staff car park gets more than then three electric charging points it’s got now then we will go electric.

[Owren]

The car market is a constantly evolving landscape, with new technologies and trends emerging all the time. One of the biggest changes in recent years has been the shift towards electric and hybrid vehicles, as more and more consumers are looking for more sustainable and environmentally-friendly options. Another trend that has been gaining momentum is the rise of online car-buying platforms, such as A Better Bid. These sites allow buyers to shop for cars from the comfort of their own homes, and often offer a wider selection of vehicles than traditional dealerships. Additionally, many of these platforms offer competitive prices and financing options, making it easier for consumers to find the car of their dreams at a price they can afford. Despite these trends, however, the car market is still a challenging one, with intense competition and ever-changing consumer preferences. As such, it's important for buyers to do their research and shop around in order to find the best deal and the car that best suits their needs. Overall, I believe the car market is a dynamic and exciting one, with plenty of options available for buyers of all types. Whether you're looking for a fuel-efficient hybrid, a rugged pickup truck, or a sleek sports car, there's sure to be something out there that fits the bill. So if you're in the market for a good car, be sure to check out https://abetter.bid/en/car-finder/ty...a/model-tacoma, as well as other online platforms and traditional dealerships, to find the perfect vehicle for you.

[thieuster]

It's not the Continent then... brand-new cars have a waiting time for 10 - 13 months. All has to do with electronic components shortage. Secondhand cars are in demand. My wife's CR-V is 3 years old in May and the dealer has asked us if we do not want a new one; the p/ex price is 100% of what she paid for the car! No depreciation. Second-hand Hondas are very popular here because since 2020, Honda gives a 10 yr transferable warranty. Interesting for second-hand buyers. And interesting for the dealer: breakdown-costs and repair costs are covered by the factory.

She went along with his offer, provided he can find her a new one; same model, same specs, different colour. Honda is very small in this part of the Continent, so dealers tend to look across the border (Ger, Den, Bel, Fr) for new cars. Until now, he cannot find what she wants.

[Linocut]

My last three cars were cash, lease and PCP. I’ve been lucky with the cash purchase, apart from servicing I’ve just had to get the DPF cleaned. I’d never lease again though. You have absolutely no flexibility and no equity in the vehicle. If you pcp’ed three years ago you’re laughing all the way to the bank, whereas if prices had bombed you would still have your minimum gfv. If you leased you’re handing it back to be sold at a great price that you see nothing of.

If your circumstances change after a year, you might take a bath returning or part ex ing a pcp vehicle but on a lease, tough, you’re paying till the end of the term.

On a new car, I found the monthlies very similar on pcp and lease, but pcp is just so much more flexible.

I don’t have a clue what’s going to happen but I’m a lot more relaxed about buying a new ice car than I was last year given the removal of sweeteners on ev’s and the change in attitude to fossil fuels.


Sent from my iPhone using Tapatalk