closing tag is in template navbar
Time Factors Watches



TZ-UK Fundraiser
Page 1 of 2 12 LastLast
Results 1 to 50 of 99

Thread: Used Car Shortage.

  1. #1
    Master
    Join Date
    May 2011
    Location
    The Far East (of England)
    Posts
    2,420

    Used Car Shortage.

    I thought that car sales firms were "talking up" the good used stock shortage but from what I've seen locally, the used stock is pretty shabby! Some of the "better" sales outlets that have previously only entertained immaculate, low mile examples seem to be selling cars that are usually only seen on "Italian car Wash" sites! Is it just here in not so sunny Norfolk or elsewhere too?

  2. #2
    Master
    Join Date
    Aug 2012
    Location
    London
    Posts
    8,380
    Blog Entries
    5
    It's crazy at the minute.
    A guy local to me sells Discovery 4's - lots of them.
    He's paying more now to buy them in than he was selling them for last year.

  3. #3
    Master
    Join Date
    Mar 2011
    Location
    Manchester
    Posts
    6,881
    Quote Originally Posted by Dave O'Sullivan View Post
    It's crazy at the minute.
    A guy local to me sells Discovery 4's - lots of them.
    He's paying more now to buy them in than he was selling them for last year.

    Echo that up here but with Mini and Fiat 500's that a friend of mine specialises in. He usually hoovers them up at auctions and from some of the bigger garages trade-in stock and flips them for a pretty good margin.
    At the moment the cupboard is bare.

  4. #4
    Grand Master Dave+63's Avatar
    Join Date
    Jun 2012
    Location
    East Sussex
    Posts
    13,276
    New cars arenít being sold due to the microchip supply issues (the one that tell the powers that be of your every move!). This is causing a knock on effect as there arenít any part ex vehicles coming in. Thereís also the issue of COVID and the lack of fleet rental sales over the last eighteen months.

    Good used cars are therefore in short supply and higher demand (no new cars available) which Is driving up their value.

    Vans apparently, are even worse.

  5. #5
    Master
    Join Date
    Aug 2012
    Location
    London
    Posts
    8,380
    Blog Entries
    5
    Quote Originally Posted by Dave+63 View Post
    Vans apparently, are even worse.
    Great news!
    Iíve a 2014 Vivaro to sell 😂

  6. #6
    Master
    Join Date
    Apr 2017
    Location
    M62 corridor
    Posts
    3,394
    Know someone who got a “We buy any car” quote for his Jaguar F-Pace a few months ago. They keep contacting him with increasing offers.

    His son has been offered more for his M4 than he paid 2 years ago.

    I think my heap is worth £5 more than last year!
    Last edited by David_D; 7th July 2021 at 00:12.

  7. #7
    Master blackal's Avatar
    Join Date
    Mar 2012
    Location
    Scottish Borders
    Posts
    4,315
    It will certainly confuse the idiots who spout "A car loses the VAT as soon as it leaves the showroom!" (for private purchases)

  8. #8
    Grand Master GraniteQuarry's Avatar
    Join Date
    Jun 2005
    Location
    Aberdeen, UK
    Posts
    27,368
    My 330i BMW on WBAC climbed from £26,000 start of February to £29,600 last week.

    Paid £31,200 for it new last August!

  9. #9
    New car sales have been dead since the start of the pandemic. That means very few 1.5 year old cars available to be resold now.

    I want a c class cabriolet. Last time I looked there were loads in my price and age range now there's nothing.

  10. #10
    Quote Originally Posted by Dave+63 View Post
    New cars arenít being sold due to the microchip supply issues (the one that tell the powers that be of your every move!). This is causing a knock on effect as there arenít any part ex vehicles coming in. Thereís also the issue of COVID and the lack of fleet rental sales over the last eighteen months.

    Good used cars are therefore in short supply and higher demand (no new cars available) which Is driving up their value.

    Vans apparently, are even worse.
    I have had three car plants shut or go on short time in the last two weeks, and itís getting worse

  11. #11
    Master
    Join Date
    Aug 2017
    Location
    London
    Posts
    1,197
    Hmm.. interesting. I have a 420D convertible from 2016 thatís done 11k. I wonder if it now has some value.

    Maybe time to buy the mid life sports car instead of the sensible car.

  12. #12
    Master
    Join Date
    Oct 2013
    Location
    Southampton, UK
    Posts
    4,916
    Quote Originally Posted by joe narvey View Post
    Hmm.. interesting. I have a 420D convertible from 2016 thatís done 11k. I wonder if it now has some value.

    Maybe time to buy the mid life sports car instead of the sensible car.
    The sports cars are also shooting up in price. Just put a WBAC quote in myself and valued at pretty much what I paid a dealer for it 18 months ago!

  13. #13
    Grand Master Chris_in_the_UK's Avatar
    Join Date
    Nov 2004
    Location
    Norf Yorks
    Posts
    38,913
    Quote Originally Posted by Dave+63 View Post
    New cars arenít being sold due to the microchip supply issues (the one that tell the powers that be of your every move!). This is causing a knock on effect as there arenít any part ex vehicles coming in. Thereís also the issue of COVID and the lack of fleet rental sales over the last eighteen months.

    Good used cars are therefore in short supply and higher demand (no new cars available) which Is driving up their value.

    Vans apparently, are even worse.
    We got our BMW X5 in February 21 - we had a BMW nationwide choice of just over 1500 - as of today the nationwide stock of S/H is 753.
    When you look long into an abyss, the abyss looks long into you.........

  14. #14
    My mustang is now worth around 2k more than I paid for it 3.5 years ago. Iím tempted to sell just so I can finally make money on a used car!

  15. #15
    Craftsman
    Join Date
    Dec 2014
    Location
    The East
    Posts
    931
    Blog Entries
    1
    Interesting, I had not realised this was happening.

    I just valued my wife's 7 year old panda on 'motorway' (I prefer it to wbac) and it has gone up by 40% in the last 18 months from 2400 to 3400, which seems a little crazy.

    Maybe that's why it was so easy to get a good price for my mother in law's smart fourfour after she passed away, bought for 8.3 at an MB/smart main dealer as approved used(seemed pricy at the time), sold last month for 6.3k with damage to almost every panel and a patchy service history.... It was a very good looking cabrio though.
    Last edited by jmitch; 6th July 2021 at 23:26.

  16. #16
    I changed cars recently as a consequence of this. I too used Motorway, initially just to get a rough valuation check but the price kept increasing, leading to it being sold for £3k more than the first valuation. The buyer (via Motorway) was a car dealer up in Derby who sold it for just under £2k more than that. I canít imagine there was much profit in it after their fees and costs.

  17. #17
    Master
    Join Date
    Aug 2014
    Location
    Mountsorrel uk
    Posts
    1,297
    When I bought my car a month ago there must have been 20 of the same model on the autotrader website now there are 3

  18. #18
    Craftsman
    Join Date
    Jun 2019
    Location
    UK
    Posts
    642
    I could buy an Audi A3 from an authorised Audi dealership for £24k. Webuyanycar value it at £27k , crazy times


    Sent from my iPhone using TZ-UK mobile app

  19. #19
    Master
    Join Date
    Aug 2013
    Location
    London
    Posts
    1,537
    Yep, I was looking at 2105-2016 ftype v8ís and they were 39-44k ish in January and are now 44-49k ish for the equivalent car. Iíll be buying a 5 ish year old fiesta to ride this out and buy the jag when supply of new cars has increased and has the knock on effect it has now with the shortage of production.

  20. #20
    It is crazy at the moment, I have a m240 which I paid just over £20k for about 2.5 years ago. WBAC value is £20k, on BMW facebook groups people have been selling similar models for £22-£24k. If I did not love the car as much it would be tempting to sell up and make a £2-4k profit whilst having the car for over 2 years. This cant last forever and the prices must crash at some point.

  21. #21
    Grand Master ryanb741's Avatar
    Join Date
    Jun 2008
    Location
    London
    Posts
    12,115
    My Velar is worth £10k more on we buy any car than it was last year! Tempted to chop it in as on finance its worth more than the balloon payment even though it is 26 months into a 49 month deal with a small deposit

    Sent from my SM-G950F using Tapatalk

  22. #22
    Master
    Join Date
    Jul 2006
    Location
    Penicuik, Midlothian, Scotland
    Posts
    3,526
    Must be vehicle specific then. My Subaru Forester Hybrid has plummeted. Bought new last June the WBAC is £10k down on what I paid. (And I paid below sticker price).

    maseman

  23. #23
    Journeyman AmosMoses's Avatar
    Join Date
    Dec 2020
    Location
    United Kingdom
    Posts
    95
    I had a real battle sourcing my Mini Clubman Cooper S. Missed out on 2 cars that were sold within 5 minutes of being listed, in the end I put a deposit on the car before I'd even seen any pictures. Chopped in my 420d against it and the dealer paid top price as they were so in demand!

  24. #24
    Craftsman Lazydonkey's Avatar
    Join Date
    Oct 2011
    Location
    Glasgow
    Posts
    700
    A mate bought a brand new elise, and then sold it to WBAC a month later for £500 more then he paid.

    In contrast i sold an M2 last may for a substantial loss but they now appear to be worth more than gold.

  25. #25
    Master Andyp1973's Avatar
    Join Date
    Oct 2013
    Location
    Derbyshire
    Posts
    1,213
    Iíve just dropped my car off at Mercedes in Derby for some warranty work. Itís coming up to three years into a four year PCP so I thought Iíd enquire about changing it while I was down there. There are three cars in a big showroom and the secondhand stuff out the back is half empty. Canít see me getting a good deal so Iíll be leaving it until next year.


    Sent from my iPhone using Tapatalk

  26. #26
    Master Lampoc's Avatar
    Join Date
    Jan 2011
    Location
    Lincs. The bit with hills.
    Posts
    5,830
    I'm not sure I trust WBAC too much. I've been searching for a 3 yr old compact SUV and WBAC are apparently offering more than some dealers are selling them for. WBAC are offering £10.2K for this Vitara for example: https://www.autotrader.co.uk/car-det...=SUZUKI&page=1

  27. #27
    Grand Master Dave+63's Avatar
    Join Date
    Jun 2012
    Location
    East Sussex
    Posts
    13,276
    Quote Originally Posted by Lampoc View Post
    I'm not sure I trust WBAC too much. I've been searching for a 3 yr old compact SUV and WBAC are apparently offering more than some dealers are selling them for. WBAC are offering £10.2K for this Vitara for example: https://www.autotrader.co.uk/car-det...=SUZUKI&page=1
    WBAC are offering a price that they expect to get back at auction whilst some dealers are not necessarily on the ball re pricing.

    There is the opportunity to participate in a little arbitrage and make a little cash or get a better/newer car than you were thinking.

  28. #28
    Craftsman
    Join Date
    May 2017
    Location
    Southport
    Posts
    373
    I sold my i3 on Monday via Motorway. Itís value had gone up £5k in the last 3 months.

    I spoke to the general manager in there and he said that they are trying to buy everything that they can because the prices are going up so much.


    Sent from my iPad using Tapatalk

  29. #29
    Grand Master TheFlyingBanana's Avatar
    Join Date
    Mar 2009
    Location
    Bedfordshire and your back garden
    Posts
    19,145
    It's a bit puzzling though that there are still 429,000 cars for sale on Autotrader, and this is about the usual average number (perhaps slightly higher) at any given time I can recall over the past few years.
    So clever my foot fell off.

  30. #30
    Master Incredible Sulk's Avatar
    Join Date
    Mar 2010
    Location
    3 Degrees West
    Posts
    1,438
    Quote Originally Posted by AmosMoses View Post
    I had a real battle sourcing my Mini Clubman Cooper S. Missed out on 2 cars that were sold within 5 minutes of being listed, in the end I put a deposit on the car before I'd even seen any pictures. Chopped in my 420d against it and the dealer paid top price as they were so in demand!
    Funnily enough I just sold a 2019 Clubman Cooper S to WBAC. I bought it a year ago. I sold it for more than I paid for it. Not an enormous amount, but a profit nontheless.

    It's the only time in my entire life I've ever made a profit on a car.

  31. #31
    Grand Master TheFlyingBanana's Avatar
    Join Date
    Mar 2009
    Location
    Bedfordshire and your back garden
    Posts
    19,145
    Quote Originally Posted by ryanb741 View Post
    My Velar is worth £10k more on we buy any car than it was last year! Tempted to chop it in as on finance its worth more than the balloon payment even though it is 26 months into a 49 month deal with a small deposit

    Sent from my SM-G950F using Tapatalk
    Interesting story here:

    https://www.telegraph.co.uk/business...-buy-used-car/


    Apparently my Vanquish has gone up 15%, not that I plan to sell it.
    So clever my foot fell off.

  32. #32
    Master smokey99's Avatar
    Join Date
    Jan 2009
    Location
    Ex Pat North East - Now SE London
    Posts
    1,380
    Yep been looking and changing my car which is an S4 Avant where the Used Values have gone up from around £23k to £30K from November.

    I listed the car on Wizzle and I was batting off the approaches from used car dealers on a daily basis.

    Still not accepted an offer as struggling to find a replacement being that I was after a Macan GTS and the market is very thin and then I'm paying over 70% of RRP for a 3 year old car.

    Tempted to sell, pocket the cash and buy again in a few months??

  33. #33
    Master
    Join Date
    Apr 2009
    Location
    Edinburgh
    Posts
    3,343
    Just ran my diesel Macan through WBAC and apparently it's worth more than when I bought it from a dealer 11 months ago and with 5k extra miles!

  34. #34
    Craftsman Halitosis's Avatar
    Join Date
    Nov 2016
    Location
    West Lothian
    Posts
    551
    So am I right in thinking itís probably better to buy a new car than a nearly new just now? Thinking of upgrading our 6 year old Golf for the latest model...


    Sent from my iPhone using TZ-UK mobile app

  35. #35
    Grand Master Dave+63's Avatar
    Join Date
    Jun 2012
    Location
    East Sussex
    Posts
    13,276
    Quote Originally Posted by Halitosis View Post
    So am I right in thinking itís probably better to buy a new car than a nearly new just now? Thinking of upgrading our 6 year old Golf for the latest model...


    Sent from my iPhone using TZ-UK mobile app
    If you can find one. There arenít many new cars about either at the moment hence the demand for second hand.

  36. #36
    Master
    Join Date
    Aug 2013
    Location
    London
    Posts
    1,537
    Quote Originally Posted by Halitosis View Post
    So am I right in thinking itís probably better to buy a new car than a nearly new just now? Thinking of upgrading our 6 year old Golf for the latest model...


    Sent from my iPhone using TZ-UK mobile app
    If they have one! The issue has been caused by supply issues of micro chips that control car ecuís. This has severely limited new car production so those who buy new have bought expensive used. Those who buy slightly older have upgraded etc

  37. #37
    Grand Master snowman's Avatar
    Join Date
    Nov 2012
    Location
    Hampshire
    Posts
    12,242
    A couple of months ago, I looked at what I could get for my car, but decided not to sell.

    I got a reminder email a few days ago and decided to check and they were offering me £6k MORE than 2 months ago (and 5K more than I paid for it a year ago).

    I looked online and used prices were similarly skyrocketed, so it seems to be a widespread issue for some reason.

    M
    Breitling Cosmonaute 809 - What's not to like?

  38. #38
    Master blackal's Avatar
    Join Date
    Mar 2012
    Location
    Scottish Borders
    Posts
    4,315
    Quote Originally Posted by Stuno1 View Post
    If they have one! The issue has been caused by supply issues of micro chips that control car ecuís. This has severely limited new car production so those who buy new have bought expensive used. Those who buy slightly older have upgraded etc
    What about those who have reached the end of the term for their PCP? I guess they are buying at the buyout price and hanging on to them?

  39. #39
    Craftsman
    Join Date
    Jan 2016
    Location
    Hampshire, UK
    Posts
    314
    Quote Originally Posted by RobM View Post
    I changed cars recently as a consequence of this. I too used Motorway, initially just to get a rough valuation check but the price kept increasing, leading to it being sold for £3k more than the first valuation. The buyer (via Motorway) was a car dealer up in Derby who sold it for just under £2k more than that. I canít imagine there was much profit in it after their fees and costs.
    Regarding their profit opportunity, you have to also take into account the potential they could be making from finance and products. As an example, some finance providers will give a "commission" of 10% of the amount borrowed, depending on the interest rate.

    Plus there is the further opportunity for a part exchange on what they sold of yours and so on.

  40. #40
    Master
    Join Date
    Oct 2013
    Location
    Southampton, UK
    Posts
    4,916
    Quote Originally Posted by snowman View Post
    A couple of months ago, I looked at what I could get for my car, but decided not to sell.

    I got a reminder email a few days ago and decided to check and they were offering me £6k MORE than 2 months ago (and 5K more than I paid for it a year ago).

    I looked online and used prices were similarly skyrocketed, so it seems to be a widespread issue for some reason.

    M
    Just checked my previous WBAC, and they offered me £10k more than they quoted last September . Seriously tempting

  41. #41
    the people that are quoting WBAC are you actually taking your car in to one of their depos for the valuation or just gong on the online valuation? if you are going on the online valuation you are going to be in for a shock when they actually come and look at it - theres usually quite a difference in price.

  42. #42
    Master
    Join Date
    Aug 2012
    Location
    London
    Posts
    8,380
    Blog Entries
    5
    Quote Originally Posted by pugster View Post
    the people that are quoting WBAC are you actually taking your car in to one of their depos for the valuation or just gong on the online valuation? if you are going on the online valuation you are going to be in for a shock when they actually come and look at it - theres usually quite a difference in price.
    But then if theyíre comparing the online price in both cases, itíll still point to a rise.

    But you are quite correct, theyíll hammer you down when you turn up.

  43. #43
    Master
    Join Date
    Aug 2013
    Location
    London
    Posts
    1,537
    Quote Originally Posted by blackal View Post
    What about those who have reached the end of the term for their PCP? I guess they are buying at the buyout price and hanging on to them?
    Not sure but must be if there are no cars to replace them with.

  44. #44
    Master smokey99's Avatar
    Join Date
    Jan 2009
    Location
    Ex Pat North East - Now SE London
    Posts
    1,380
    Quote Originally Posted by Dave O'Sullivan View Post
    But then if theyíre comparing the online price in both cases, itíll still point to a rise.

    But you are quite correct, theyíll hammer you down when you turn up.
    Friend of mine just sold his 3 year old Tiguan to WBAC and only knocked him by £300 on £19000 because the mileage was up since the initial quote.

    Thatís different to my experience with them 4 years ago but I guess the market has changed.


    Sent from my iPhone using Tapatalk

  45. #45
    Master
    Join Date
    Nov 2011
    Location
    Berkshire
    Posts
    4,447
    Cayman 981 GTS worth what I paid 18 months ago, problem is that nothing else will tick so many boxes for the price, so will keep hold of it for the moment.

  46. #46
    Grand Master GraniteQuarry's Avatar
    Join Date
    Jun 2005
    Location
    Aberdeen, UK
    Posts
    27,368
    Iíve only sold once to WBAC, got exactly as quoted. The guy stated it was a zero-faults category A+ or suchlike, he had to phone for purchase authority as not often seen.

    Wouldnít hesitate to use them again.

  47. #47
    Master vRSG60's Avatar
    Join Date
    Oct 2009
    Location
    Barrowford - Lancashire
    Posts
    2,960

    Used Car Shortage.

    WBAC £3500
    Skoda px £800
    Last edited by vRSG60; 7th July 2021 at 21:54.

  48. #48
    Grand Master Chris_in_the_UK's Avatar
    Join Date
    Nov 2004
    Location
    Norf Yorks
    Posts
    38,913
    Quote Originally Posted by vRSG60 View Post
    WBAC £3500
    Skoda px £800
    Jeez.
    When you look long into an abyss, the abyss looks long into you.........

  49. #49
    Master Harry Smith's Avatar
    Join Date
    Jan 2017
    Location
    Wolverhampton
    Posts
    3,392
    Not just cars. Motorhomes as well. It would cost you at least 30% more to buy a used one now than last year. Tempted to sell ours.
    But not to Glossop Caravans who claim to be desperate to buy them. I filled in an online valuation form jaamoi. Someone rang me and said "would 18 grand buy it" When I stopped laughing I politely (yea right) told him to take a flying hump at a rolling hoop. Even before all this it was worth £21-22K trade. My Google review was, unfavorable.

  50. #50
    Grand Master hogthrob's Avatar
    Join Date
    Feb 2007
    Location
    Essex, UK
    Posts
    13,903
    Quote Originally Posted by GraniteQuarry View Post
    Iíve only sold once to WBAC, got exactly as quoted. The guy stated it was a zero-faults category A+ or suchlike, he had to phone for purchase authority as not often seen.

    Wouldnít hesitate to use them again.
    I sold my Golf to WBAC a couple of weeks ago. I got the quoted price. The guy did say though that I was about the 3rd person in the 8 years he'd been doing the job, who had accurately described and declared the damage to the car. Maybe people think they won't notice stone chips and scuffs to the door etc?

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Do Not Sell My Personal Information