I think that a lot of people are already feeling the pinch, as the guy in the video says it’s not impacting him adversely at the lower end of the market.
Also, whilst some of his traditional customers may hold off, there will be others who need to buy but have nowhere else to go.
I'm looking to part ex my Evoque for a used F Pace and have an appointment with the JLR dealer. Looking at the likely trade in value of the Evoque and paying another £15k on top for the Jag i'm wondering now if it's worth it.
The Evoque has only done 50K (2016) and even with inflated insurance and extended warranty payments i'm wondering if i should just keep it for another year or so.
Some more anecdotal backup of a two tier market. And yes, Range Rover depreciation delivers again.
https://youtu.be/z7isABoVLVQ?si=Kf2nonPHk16cA_nA
Thanks, yeah fingers crossed.
I'm one of the, you could say, mugs, that only likes buying new cars. My last experience of used was about 15 years ago (which was first time in about 10yrs), bought a 3yr old X5 from BMW dealer and long story short, turned out it had been in an electrical fire and was a quite the lemon. I got my money back no challenge but put me off.
I'm a sucker for that first owner feel - although did once buy an ex-BMW management car that was 9 months old for a huge saving.
I know one day I'll give up on this and go down a different route - but for now etc
For those who use the WBAC values as some kind of barometer for used car prices, this news might explain some of their very volatile offer pricing;
https://cardealermagazine.co.uk/publ...e-drops/292531
I’ve tended to put more store in Motorway where your car is auctioned off to actual dealers/buyers rather than WBAC who are buying in for BCA sales.
I do feel for those trying to make a living whilst all this is going on, and having their livelihoods threatened by another giant ‘player’ suffering ‘liquidity issues’.
Skip to minute 34 for the executive stuff which are tanking at auction.
https://youtu.be/6VguVeojSBk?feature=shared
Look again, 3yr old EQC on 37.5k now at circa £26k…tempted at that price.
http://www.autotrader.co.uk/car-details/202312295107412
They’re three or four years old now and were really Mercedes first foray into EV (discounting the B250E) so not the best range wise given the size of the battery.
They are what they are though and if a 200-220 mile range is good enough for your needs, will serve well and be very familiar for anyone used to driving Mercs.
Circa 60% drop for a 3 year old slightly leggy ex-company luxury SUV doesn’t sound that untypical to be honest, the recent artificially high prices were an unsustainable bubble.
If such a vehicle is on your shortlist though, sounds like a good deal!
It’s what we all wanted to happen isn’t it, used prices to drop back to where they should be?
Before all the covid madness I remember Autocar (I think) citing the value of new cars at 3 years. IIRC most cars were in the 30 to 40% of list range with a few in the low 40s and very, very few over 50%. We definitely seem to be getting back to those sorts of new vehicle depreciation. Long gone is buying a new run-of-the-mill car and selling it for much the same after a year's ownership.
For someone like me living in a city with an average 8 miles a day buying something like the EQC does seem to make sense. I bought my current 2011 Octavia on 63k 8 years ago and am just over 96k now! I rarely travel more than 200 miles in a single journey. £26k much more palatable than £35/40k. Pleased prices are normalising.