Used car market

[senwar]

Due to the current problems with new car orders, the used market is booming (or crazy!). I actually have a car on order that I've got an ETA of March 2022 on.

My current vehicle is being valued at only £750 less than I paid new in November 2020 (XC60). In view of this, I just think it makes sense to sell now and buy a run around for 6 months or so. My thinking is sell my car high, buy a car at sub £3k with my belief that if I kept the XC60 6 more months, I'm likely to lose a lot more than £3k (and potentially the market may crash) - and the £3k car would still be sellable if I do this so perhaps say I get £2k back for it, I'm a lot better off.

Does anyone have any thoughts on how long this market will stay as is? I love my car, but to only 'lose' £750 in 11 months means this has felt like pretty cheap motoring and therefore a bit of a no brainer to sell.

[RJM25R]

Due to the current problems with new car orders, the used market is booming (or crazy!). I actually have a car on order that I've got an ETA of March 2022 on.

My current vehicle is being valued at only £750 less than I paid new in November 2020 (XC60). In view of this, I just think it makes sense to sell now and buy a run around for 6 months or so. My thinking is sell my car high, buy a car at sub £3k with my belief that if I kept the XC60 6 more months, I'm likely to lose a lot more than £3k (and potentially the market may crash) - and the £3k car would still be sellable if I do this so perhaps say I get £2k back for it, I'm a lot better off.

Does anyone have any thoughts on how long this market will stay as is? I love my car, but to only 'lose' £750 in 11 months means this has felt like pretty cheap motoring and therefore a bit of a no brainer to sell.

I think you’re selling too soon. There’s more headroom in this, I’d wait until Dec/January however it’s worth buying the shitter now……

[Dave O'Sullivan]

I sell cheaper cars. And I’ve sold a couple recently to people doing just that.
Guy sold his Disco Sport for more than he’d paid for it and bought an £1800 Corsa from me until his new Jag arrives.
I’ve already said I’ll give him £1300 back on it providing he doesn’t wrap it around a tree so he’s got 3-6 months motoring for £500.

[senwar]

I think you’re selling too soon. There’s more headroom in this, I’d wait until Dec/January however it’s worth buying the shitter now……

Any reason you think that?

Saying that, I think the value of mine may go up as we get into winter (similar happened when I sold an X1 a good few years back, although not at these levels)

I sell cheaper cars. And I’ve sold a couple recently to people doing just that.
Guy sold his Disco Sport for more than he’d paid for it and bought an £1800 Corsa from me until his new Jag arrives.
I’ve already said I’ll give him £1300 back on it providing he doesn’t wrap it around a tree so he’s got 3-6 months motoring for £500.

Thanks Dave - that's a cracking deal too, shame you're not closer to me ;)

[demonloop]

I bought a new van in Feb and WBAV are offering £500 more than I paid! Madness

[timestuff]

Didn't realise this was happening, £750 per year depreciation is a great deal.
Gone are the days when you drove your new car off the showroom and it was immediately worth 50% less!

[RJM25R]

Any reason you think that?

)

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……

[senwar]

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……

Fair points - it does seem to tie in with what dealerships are saying too.

It was a bit of a sorry state in the Audi showroom today. One lovely new black edition Q7 but then everything else, used including a 2016 TT!

[David_D]

it’s worth buying the shitter now……

There’s a phrase you don’t hear often! 😳

[ryanb741]

Yep same here with my Velar. Am waiting to sell it but there is a huge backlog on the leasing approvals due to the Tesla Model 3 loophole that after 3 days I'm still yet to get approval come through on the Tesla which will enable me to sell the Velar

[Rodder]

My wife bought a Seat Ibiza for 8.5 k brand new in 2013. It’s only done 15000 miles but WBAC valued it at 4.8k. Madness and since she’s insured on mine I think we might make do with one car.

[higham5]

I enquired to WBAc in July as I was thinking of changing my car, yesterday I unsubscribed after probably 20 emails asking me for a 30 second appraisal, they are desperate for used stock

[yumma]

It really is completely crazy. My wife bought her 1 year old Mini Cooper S at a BMW/Mini dealership around 18 months ago for £16.5k, she has just traded it for £22k at a BMw/Mini dealership against a nearly new BMW i3S. WBAC offered £21.5k. I am bamboozled as to how her Mini has risen in value by 30 percent or so. Crazy. Now is the time to trade in against new/nearly new cars at dealerships folks.

[SimonH]

My MX5 is currently worth £5k more now than I paid for it! However given that I am expecting any day now to go back to having to commute to work I am hanging on to it as I'm buggered if I'm going to spend two hours a day in a heap and secondly it would break my heart to sell it. However, if CV19 bites again this winter and I remain WFH we'll see...

[pete-r]

I bought a Golf 7.5 GTI for 21500 in April, WBAC currently offering 25700 so I thought the same. My niggle is what would I get to replace it

[murkeywaters]

Someone I know bought an Audi S4 Avant last year for £17k, thought they would try their luck with these price rises and got £23k for it, think it was £6k profit in 6 months!

WBaC offered £2700 more for my missus Vauxhall Adam that we bought in the summer of 2020, she loves it so it’s not going anyway unfortunately..

[M1011]

Oh dear, if things continue like this we're going to have to start working up a purchase history to get access to hot sellers like a Vauxhall Corsa.

[Matt M]

Someone I know bought an Audi S4 Avant last year for £17k, thought they would try their luck with these price rises and got £23k for it, think it was £6k profit in 6 months!

WBaC offered £2700 more for my missus Vauxhall Adam that we bought in the summer of 2020, she loves it so it’s not going anyway unfortunately..

I bought a 2017 S4 18 months ago from an Audi main dealer. Just had a quick look and Audi approved used have got a 2017 S4 with more miles and lower spec listed for £37k, £8k more than I paid.

[Toshk]

Are WBAC the ones offering best quotes?

Cheers.

[Dave+63]

It varies between WBAC and Motorway, it’s best to try both.
Main dealers seem to be refusing to match their prices though; I’ve a friend who was telling me about a great px deal he was getting fir his 69 plate RAV4 until I put his car into WBAC and Motorway who both offered at least £3k more than Toyota.

[Toshk]

It varies between WBAC and Motorway, it’s best to try both.
Main dealers seem to be refusing to match their prices though; I’ve a friend who was telling me about a great px deal he was getting fir his 69 plate RAV4 until I put his car into WBAC and Motorway who both offered at least £3k more than Toyota.

Thanks. Will try Motorway as well.

[guinea]

Wow. I have a 14 plate Yaris, that I bought for £9k (after advice on here) when it was a few months old. I nearly sold it for £5k 2 years ago but the buyer pulled out and I decided not to relist it.

Motorway value it at £6k now. 7 years of motoring for 3k. Pretty impressive.

It's replacement (EV) arrives early December so I probably should sell, but at this rate it could be worth even more in the New Year!

[ant8519]

I changed my car last Xmas, trading in my previous car I always haggle hard but I was a little surprised how much they offered me. I bought a just under a year old Beetle and three years later and 18k it had only depreciated £2k...

So I got what I considered a great deal and had a nice nearly new Skoda Karoq for a good chunk less than any comparable model at that time.

Skip forward 6 months and a change of work meant that I had a work vehicle that I had to use, so the new car was surplus to needs. Long story short, a bit of haggling with a few buyers and I sold it for a handsome profit, up £3.5k in 6 months! The craziest part is that I probably could have got even more if I had held on a bit longer. Always tough to read the market, but I was happy to sell at the profit level I got so no regrets...

Question is whether to order new while prices are relatively low - I am certain that manufacturers will hike all prices pretty sharpish and the market will remain inflated for a while yet. The works vehicle is due to go back next spring, so I am hoping that my timing will stay lucky and I can order cheap now for delivery in about 6 months...

[hilly10]

I have had a nightmare securing my 4 month old X3 finally got it a fortnight ago after two months of hurt, I had one car I thought I had bought sold from under me, the dealer then put me in a brand new X1 till they sorted it all out, It’s madness at the moment. One of the main problems is when you come to spec your new car some of the electric Tec is not available, ie BMW cannot get any Harmon Kardon for new cars and instead are fitting other kit and in the salesman’s own words it’s not as good. People are trying to buy nearly new with the spec they want hence creating a shortage.

[Franky Four Fingers]

We bought a mini JCW back in Feb for 16K, WBAC have offered us 18.5K for it last week. Weird times in the motor trade

[senwar]

Just done a quote for my wife’s 2019/19 mini cooper. Bought pre reg in July 2019 with 8 miles on for £15,250. Her offer -£20k. Over 2yrs after buying. Crazy.

As for the best - motorway coming in 2k more than WBAC for mine but am going to sell via wizzle as seems easier (offer pretty similar to motorway). Think I’m going to do it now and pop the monthly payments away too (have 25 months left albeit at 0% apr)

[senwar]

Only thing is I don’t know what to buy for my interim car. Part of me wants something daft, other part something sensible.

[wileeeeeey]

2016 GLC 220d 4matic

Nov: £19,355. Now: £26,120. Both prices WBAC

All relative. The C class estates I was looking at a few months ago for 24k are now 30k

[deepreddave]

We've a TT roadster with the 3 option packs and thinking of selling it because we're doing hardly any miles now and can live with one car. Current offer is about £3k more than we paid 18mths ago but anything similar on AT is another £3k more. Crazy times.

[Hood]

Salesman in Porsche dealership today said they had 5 sales guys in and only 6 used Porsche cars to sell.

[wileeeeeey]

Was going to change car in the next year or two but if the nearly new cars then will come with no options I might try change car sometime before March.

Couldn't have a Mercedes/Audi/BMW/Volvo without electric seats. May as well get a Golf.

[Franky Four Fingers]

Despite my dislike of Peugeot I went to look at their EV offerings yesterday, not one new car available in the showroom, they’re currently displaying the latest secondhand models they had.

[qaz4169]

I sold a 6 year old JCW for £19.6k. It cost me £4K to run the car. Toyota matche’d WBAC.


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[murkeywaters]

I have never used WBAC or Motorway but it looks quite simple, so... what is there to stop someone putting in car registrations that are private sales? If private sale is £15k and WBAC or MW are quoting £17k+ for said car then theoretically I could buy the car and once log book returns from DVLA take it straight to WBAC/MW and pocket the profit.

I have already looked at a few reg numbers and its amazing some people are not checking these websites first, one car was £4k more than their private asking price...

[JonRA]

I have never used WBAC or Motorway but it looks quite simple, so... what is there to stop someone putting in car registrations that are private sales? If private sale is £15k and WBAC or MW are quoting £17k+ for said car then theoretically I could buy the car and once log book returns from DVLA take it straight to WBAC/MW and pocket the profit.

I have already looked at a few reg numbers and its amazing some people are not checking these websites first, one car was £4k more than their private asking price...

AFAIK there is nothing to stop you doing this. Bear in mind if the margin isn't too great, WBAC will reduce the offer for any blemishes etc when they physically inspect it - though the last two cars I sold this was just 50 or so, and they charge a buying fee of 75gbp.

[murkeywaters]

AFAIK there is nothing to stop you doing this. Bear in mind if the margin isn't too great, WBAC will reduce the offer for any blemishes etc when they physically inspect it - though the last two cars I sold this was just 50 or so, and they charge a buying fee of 75gbp.

Yeah I thought that they would knock a bit off for any cosmetic marks, If you can see £3k+ profit then its probably worth the time and hassle..

[PhilipK]

Bear in mind if the margin isn't too great, WBAC will reduce the offer for any blemishes etc when they physically inspect it - though the last two cars I sold this was just 50 or so, and they charge a buying fee of 75gbp.

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.

[senwar]

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!

[senwar]

Currently sat in an Audi dealership (come to test a q4 etron) and the sales guy said he thinks this will last 18 months or so and head office are definitely aware or this although at some point the increase can’t be sustained.

Targets have been changed as well. Genuinely can’t decide what to do with mine now. I’ve got a Velar on order and been told 6 months but expect that to slip. It’s a real stick or twist scenario.

[hilly10]

Currently sat in an Audi dealership (come to test a q4 etron) and the sales guy said he thinks this will last 18 months or so and head office are definitely aware or this although at some point the increase can’t be sustained.

Targets have been changed as well. Genuinely can’t decide what to do with mine now. I’ve got a Velar on order and been told 6 months but expect that to slip. It’s a real stick or twist scenario.

We were going to order a new X3 and as far back as the end of July the delivery was going to be pot luck. We searched for a nearly new, and in spite of the problems we had, I am glad we moved when we did.

[Chewitt13]

Currently sat in an Audi dealership (come to test a q4 etron) and the sales guy said he thinks this will last 18 months or so and head office are definitely aware or this although at some point the increase can’t be sustained.

Targets have been changed as well. Genuinely can’t decide what to do with mine now. I’ve got a Velar on order and been told 6 months but expect that to slip. It’s a real stick or twist scenario.

I ordered a q4 etron about 6 weeks ago and was told Feb/march , got an update on Friday say may possibly but still no build slot - so you have time

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[senwar]

I ordered a q4 etron about 6 weeks ago and was told Feb/march , got an update on Friday say may possibly but still no build slot - so you have 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

[Michael 38]

When I got my xc60 a couple of months ago the Volvo main dealer had a nearly new xc60 demonstrator on their website and had to suddenly pull it as they couldn’t get another one from Volvo to replace it

[sish101]

I've just got a price back from WBAC for my wife's low mileage 4 year old Discovery Sport and its got us tempted to sell it (but not sure what we'd replace it with).

New car stock for anything desireable seems to be almost Rolex-like unobtanium.

Have second hand and pre-registered prices at main dealers gone up in response to the shortage? I can't imagine for one minute that dealers haven't noticed what's going on and priced their current stocks accordingly.

Sent through the ether by diddling with radio waves

[hilly10]

Have second hand and pre-registered prices at main dealers gone up in response to the shortage? I can't imagine for one minute that dealers haven't noticed what's going on and priced their current stocks accordingly.

Most definitely, a four month old car I initially put a deposit on in early August which I then dropped due to October del which was due to the dealer waiting for replacement Demo. That car as now gone up by £3500

[sish101]

Most definitely, a four month old car I initially put a deposit on in early August which I then dropped due to October del which was due to the dealer waiting for replacement Demo. That car as now gone up by £3500

So the question here is:

Is there any logic is selling my used car for x% more if I end up paying y% more for its replacement?

There any probably no bargains to be had unless you go for a right pill of a car that no-one wants (and which you will struggle to shift)

Sent through the ether by diddling with radio waves

[ryanb741]

So the question here is:

Is there any logic is selling my used car for x% more if I end up paying y% more for its replacement?

There any probably no bargains to be had unless you go for a right pill of a car that no-one wants (and which you will struggle to shift)

Sent through the ether by diddling with radio waves

Actually you can get a Tesla Model 3 at a bargain lease price and in 1 month delivery time. For some reason Tesla are unloading zillions of model 3s this year.

[hilly10]

So the question here is:

Is there any logic is selling my used car for x% more if I end up paying y% more for its replacement?

There any probably no bargains to be had unless you go for a right pill of a car that no-one wants (and which you will struggle to shift)

Sent through the ether by diddling with radio waves

You have a dilemma make no mistake

[jaytip]

I've just got a price back from WBAC for my wife's low mileage 4 year old Discovery Sport and its got us tempted to sell it (but not sure what we'd replace it with).

New car stock for anything desireable seems to be almost Rolex-like unobtanium.

Have second hand and pre-registered prices at main dealers gone up in response to the shortage? I can't imagine for one minute that dealers haven't noticed what's going on and priced their current stocks accordingly.

Sent through the ether by diddling with radio waves

I bought my Enyaq brand new for just under 34K. Carwow could only source me an ex demonstrator with 3000 miles on the clock for over 3K more.

[andymonkey]

My brother had an X3 hybrid on order from BMW. Took ages and then they got the order wrong.
Bmw phoned him to say he could have the wrong car for as long as it takes to get the correct car, he doesn’t have to pay until he gets the car he ordered. No limit on mileage at all. He is driving around a free car effectively. They are obviously confident on resale later on…..


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