My 2.5 year old Velar HSE was valued at £40k in Aug 2020. I'm just about to sell it to motorway.com for £51k.
Strange times. Bought a Skoda Superb estate 18 months ago. WBAC are offering £750 less than I paid. Used to do c. 22,000 miles a year. Now do 8,000 miles a year. Am thinking of selling and buying an old Lexus (which we've had before) to run for the next couple of years. However, how long will the current situation last? Also, what will it cost me to replace what I have in 2 years time? New car prices generally have increased massively over the last few years... Might be better to stick with what I have (currently at 10,000 miles) and run it until replaced with an EV in say 5 years time...?
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I’ve been offered a build week 41 (so next week) with delivery in November for a 40 edition 1 this afternoon. Tempting due to the timing but as it’s not as I’d spec (colour and a couple of options) plus I would prefer a 50 I’ll probably pass. It’s on hold till the morning for me.
Very unexpected that though
Did you get any discount on order? New builds are coming up with a discount on drivethedeal but can imagine no chance of discount on this available one.
Also said options like pan roof and towbar are delaying things significantly and pan roof not being offered on some.
Porsche market seems to be worse than most at the moment. Occasionally keep an eye on values as I quite fancy another at one point. In 2013, I paid just under £27k for a 2009 987.2 Boxster S PDK with around 35k miles and it is now owned by my Dad and has around 60k miles. Looking on Autotrader today, a comparable example with slightly lower spec and higher miles (though newer) is £23.5k from a private seller so if they make near the asking, that is around £500 per year in depreciation which is about the same as I would expect for a sub £5k runaround in pre COVID times!
Typically, the values of ageing large petrol engined Mercedes (which is what I now have) don't seem to be performing that well so swings and roundabouts I suppose!
I've got it through the work salary sacrifice scheme so tied there, we are paying so little for it that I doubt there's much wriggle room
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Yep. 6 months of rises in the trade + demand rising x manufacturing slowdown due to global shortage of microprocessors = a continuing increase in value.
Mercedes-Benz have completely withdrawn from the Motability scheme for the rest of the year due to limited allocation of cars. Look online and very few of the big leasing companies are offering any deals on Mercedes-Benz except GLE which is still in good supply (built in the US)
BMW have taken everything off the motability scheme except the 1 series
I’m still waiting for my new Mini that I ordered in March for September delivery
Volkswagen UK have no “fresh” allocation for the rest of the year
I have more anecdotal info but it’s more of the same regarding new car stock shortages, driving used values up.
The old motor trade staple of surplus stock and huge discounts to move them has turned on its head and there now seems to be more customers than cars……
We've sold because we think we can manage with one car and we're doing <5k miles pa because we're walking/cycling more. I reckon prices will drop in c18mths but it may be car manufacturers see this as a chance to increase their new prices given everyone is adjusting to a c30% increase in used values.
I'll still keep an eye out for something interesting though and think I'll be changing our 17 reg for something new/nearly new after Xmas on the basis that might be a good time to get a deal.
Last edited by deepreddave; 11th October 2021 at 10:20.
Someone I know regularly talks with a top sales guy in Porsche and he said new cars are are going crazy, the dealership where he is based normally sells 35 new cars (guess per month) last count for September was 70!
Builders/home improvement trades are solid with work and charging the earth, where the hell is all this money coming from?
Sooner or later there must to be a big correction as the current status is just not sustainable..
Anyone selling have a look at Cazoo, their price is substantially higher than Arnold Clark and motorway.co.uk for one of our cars (and I wish I'd checked them before selling it! ).
Last edited by deepreddave; 12th October 2021 at 07:11.
I understand local brickies have all been given 17.5% pay rises recently due to there being a lack of them. Of course this has led to all the builders operating locally doing the same so it's fundamentally a nice pay rise. Who'd have thought years ago that brickies would be earning more than many accountants, solicitors, doctors (£60k+ a year)?
Last edited by deepreddave; 12th October 2021 at 10:40.
At the moment Tesla's seem reasonably priced in comparison to their second hand values and there is a lot of stock.
Second hand Teslas are fetching more than the brand new models.
I just bought one. Our company has a salary sacrifice scheme which basically gives a lease with 40% off, but the second hand values are so strong it was cheaper over 3 years to pay cash and sell later.
That's an interesting tactic - they charge you for buying something from you. Must try doing that next time I'm in Tescos! :-)
I bought a Škoda Yeti a couple of weeks ago, from a large retailer (but not a Škoda main dealer). On the day that I bought it, WBAC were offering £595 more for it than I paid. Bizarre.
My mate sold a standard corsa on 9th August to WBAC. They quoted £8600 and paid £8175 after pointing out a few imperfections. He paid £10,300 for the car a few years back.
He ran a quote yesterday just to see - new WBAC quote is £10,000!
Wasn’t Harry Enfield’s loadsa money character a tradesman in the eighties?
Whenever there’s demand (and it’s massive at the moment), the tradesman can all charge a lot more because people will pay it. The massive increase in materials costs this year had just exacerbated the issue.
Interesting times indeed.
Do you guys think increase in demand has now peaked?
Currently, our GLC is worth £26,130 with WBAC, £26,802 with motorway and £27,125 with Cazoo.
I had a new Skoda Karoq 1st March paid £26,168 after taking a pcp and paying it straight off. Saturday WBAC valuation with 6k on the clock was £28,640 As soon as my wife’s car come back from our eldest boy who has had it on loan since lockdown #1 the Skoda will be going and I will order something new. Probably have to wait 6 months for it but the wife’s car will be fine in the interim.
I’m Bristol based but the Volvo dealership has recently changed so I went to Chippenham after buying a roof box over the Summer. Really helpful then so went back and no complaints, but it was only a first service.
With stock levels the way they are I think I was lucky to get anything.
I really wasn’t impressed with the XC40 but it was a low spec.
Put it this way on another thread someone has a nice looking Porsche inbound however the Tesla is faster, more technologically advanced, more practical, more environmentally friendly. It is a better car. And probably £25k cheaper. So I'd say the Model 3 is way underpriced compared to Model S and X and certainly compared to the non 911 Porsches.
I had an XC40 before my XC60. I actually chose it over the XC60 in 2018 although that was mainly due to a deal and availability of a first edition.
The 60 wins hands down for refinement, quality, driving experience etc but the 40 is a great car. I really enjoyed mine. But the 60 definitely feels like a step up in class (as it should I suppose).
I liked my XC60 (68 plate) but it was sat on the drive during lockdown on a £500 a month PCP which made no sense and as I could walk away from it with no negative equity it made sense to chop it in. I note what you say about the 40 and I’m not expecting quite the same quality as the 60. It was the same with the 90 when I had it as a courtesy car it always felt a step-up from my 60. I think manufacturers always put a bit more in every time you go up the size range.
My own calculations based on 3 year old value. Many 2nd hand Teslas are more expensive than brand new ones at the moment.
The PCP quote was ~£18-20k over three years, but a Tesla Model 3 isn't going to depreciate that much. I think the PCP schemes are taking advantage of the face there is a 40% tax saving to pad their margin. If you have the cash, it is worth paying cash.