So much for a used car shortage

Well ,to say that car dealers are supposedly short of used car stock to sell , there are now over 900 F Types on auto trader .
WBAC etc have recently dropped their offers for used sports cars as i suspected they would after making dealers pay over the top prices for cars.
As the dealers were saying , pricing is all about supply and demand. The demand seems to be lessening .
 
Beltupandholdon said:
Winter , not time to buy sports cars in uk

I'd have thought it was the best time since demand would be low and dealers want to shift cars, especially convertibles.
 
True in a way , but if they have the car over winter just sitting they will want shot of it come spring , argument for both scenario I suppose. We were impulse buyers . And after been locked down for 6months the money was burning a hole in our pockets lol , it was a lovely late June day and just after breakfast we were both bored . I went on to autotrader not knowing what I was looking for apart from a sporty summer car for drives out etc , don't know why I even looked at jaguars , as they only have one model , joe must have been some sort of influence in my mind with his car lol , next thing I know up pops this brg convertiable with the red seats , the wife liked the look of it , but it was quite a good bit away but had the approved thing , so off we set , a few hours later she sat in the car that was it . I never even haggled with the price . I had noticed it had new discs and could feel the back pads were new with my finger , a two owner car with the full jsh that I asked to see , ( missed the diff service in my excitement doh) also it had a new battery I could see that , and new tyres although budget ones . Deposit down . Deal done :mrgreen: edit , I was told the roof had a problem and would be fixed . It was . Also we were given a colour to pick from gloss black or silver as the alloys were getting refurbed , as part of the deal :mrgreen:
 
I think that a lot of buyers bought their cars on a whim. I know i have bought fast cars in the past only to sell them 5 years later having only done maybe 15000 miles.
The excitement can wear off after a year or so which is why the new car market has always been so buoyant in the uk ,lots of people must have the latest car as the pcp payments are low .
Once the new car shortage is overcome prices will drop ,especially as there are such good tax breaks for company cars being electric at the moment. All those used electric cars will become affordable to Joe public in 3 years time when they come off company fleets ,which i think will de value ice cars that are your average rep mobile today.
Other cars like f types /porsches /classics etc will always have their place for the enthusiast .
I hired a bmw 1200 motorbike on holiday last week and although it rode nice , it didn't have the sense of occasion that my own Aprilia has ,which is a noisy beast with a great intake/ exhaust noise .
I can see electric cars being like the bmw bike .It did the job but i wouldn't want to ride one for the hell of it like i do with my own bike.
 
The number of them on AT has been increasing steadily for a while now, but pricing doesn't seem to drop all that much - I guess everyone is digging their heels on considering how much dealers must have paid for this round of stock! Interestingly, deposit contributions from dealers has disappeared from what I can see on new F Types which makes them even less appealing when you consider the potential wait times. Might wait until January to see if there is a return for deposit contributions before deciding between new vs used.
 
Something still very skewed in the used car market at the moment.

Looked at a P300 at Stockport Jaguar last night listed at 45k. Just as a check I put the details into WBAC this morning and they quoted a price of 33.5k. I’m sorry but something is not quite right there.

I also got quoted a trade in value of 24.5k for my F-Pace against a new P300 from Nottingham Jaguar with no movement off list price at their end. On the Jaguar approved the closest match to my car but with 10k more miles is listed at 31k.

I’m getting the feeling that because they can’t get and sell new cars due to supply issues they are manipulating the used car market to keep profits high.

Those differentials between buy and sell seem far too apart at the moment.

Fortunately I don’t need to buy or replace my car at this time so think I will be sitting things out for the time being.
 
I do not trust Autotrader as they are putting cars down as " great price" etc on their site yet nothing is selling.
Their pricing is supposed to reflect the price that cars have sold for but from what i can see the same cars have been there for months.
If you go to the URL at the top of the page for a vehicle it shows the date that the advert was placed . Lots of vehicles have been knocking around for 4 or 5 months now ,yet still advertised as" great price."
 
stickshift steve said:
I do not trust Autotrader as they are putting cars down as " great price" etc on their site yet nothing is selling.
Their pricing is supposed to reflect the price that cars have sold for but from what i can see the same cars have been there for months.
If you go to the URL at the top of the page for a vehicle it shows the date that the advert was placed . Lots of vehicles have been knocking around for 4 or 5 months now ,yet still advertised as" great price."

Has to be worth haggling with some of the sellers to see wether they will exept an offer , if they won't then its their loss .
 
stickshift steve said:
Lots of vehicles have been knocking around for 4 or 5 months now, yet still advertised as "great price".

Great for the buyer or the seller? The two aren't compatible. ;)
 
Well having visited 3 dealers in the last couple of days, albeit to buy a nearly new Velar for my daughter I can assure you that:

There are nearly no new cars coming off the line. Quote is Q3 22 for a new Velar. Supply seems to be from cancelled orders that the dealer keeps the stock
Not many second had cars are selling - dealers said so, however they are maxing prices on what they have. One we went to see had price increased £1k from the time we left home to arrival at dealership, even though dashboard photo showed it went on sale in 10/21. Was their daily price review
A car we put a deposit on increased by £2k on the web, so we had to call the dealer to ensure the right price was on the order, thankfully it was.
There are no discounts, negotiation of extras offered, servicing, change tyres, repair a chip. Buy or leave it

Dealers very open that it's buy it or leave it and that totally maxing the price of what they have..

Very different world right now
 
Something will have to give on used car prices at some stage. Interest rates rising slowly now but the real cost of living is going up much faster than the government statistics are showing, even my daily butty from the shop has gone up 20p !
New vehicles will cost more due to material prices having gone up by 30% . The salesman at the truck dealership where i work has had to ring all his customers to put prices up for orders taken months ago and is not allowed to do any quotes for new vehicles as there is such a long build time and the manufacturer does not know what the trucks will cost to make.
We have new trucks arriving that have electronic parts missing even after being in bodybuilders for 3 months which we can't put on the road .
 
Stealers are making 10 grand on a car just now if your a mug punter , and this racket will spill into next year . Wait them out if you can , we have a small Ford car , it is our main car , used for shopping etc , our jaguar is in hibernation and only a fun summer car . I would like to upgrade the small Ford a 16 reg with just approaching 20,000 miles for another but simply not prepared to pay the asking price for a newer car so I shall wait
 
This link and the underlying KPMG report gives some very interesting insights into the 'bubble' and likely time it could / will burst. American market, but the general rules and considerations are likely very similar for UK market

https://gmauthority.com/blog/2021/12/used-car-prices-a-bubble-waiting-to-pop-kpmg-report-says/

You can access the full KPMG report in pdf via the text above the image of the red Chevrolet. No email or log-in required

Interesting read, even if only the summary
 
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