E89 Market watch

[Pondy]

As they say the market is the market, if people are willing to pay then the prices go up..in economics you only need a small excess of demand over supply for prices to move far!

I am sure there is more to this at the moment. The used car market prices in general are extremely buoyant at the moment; and yet there are 1000s more cars being released into the market than usual (due to various reasons mainly associated with the pandemic).

Two months ago I ended a lease early on a 2019 Volvo V90 due to not using it for the past 12 months. The car was supposedly going to auction the same week but has not appeared anywhere for sale as yet.
I recently also bought another car (not the Z4) which was serviced on 20th October 2020 at 10,242 miles. I bought it on 30th March 2021 and it had 10,245 miles. The car has been "stored" for over 5 months as it was not for sale until recently!

I think the car industry in general is storing vast numbers of used cars and drip-feeding them into the market to save an over-supply and therefore inevitably a price crash and potential impact on new car sales.
There is definitely something going on in the used car market at present.

 

[Ole gits rule]

Is that the one by me in Goytre?

Yup.

Noticed a red 35is on Ebay today, not sure if that's the one discussed a few posts back - was on Facebook marketplace a couple of weeks ago. Nice looking car but the MOT history was a bit scary.

I have seen that one around and the colour is defo marmite and I remember you saying it needed some TLC so you left it there previously

 

[Ole gits rule]

As they say the market is the market, if people are willing to pay then the prices go up..in economics you only need a small excess of demand over supply for prices to move far!

I am sure there is more to this at the moment. The used car market prices in general are extremely buoyant at the moment; and yet there are 1000s more cars being released into the market than usual (due to various reasons mainly associated with the pandemic).

Two months ago I ended a lease early on a 2019 Volvo V90 due to not using it for the past 12 months. The car was supposedly going to auction the same week but has not appeared anywhere for sale as yet.
I recently also bought another car (not the Z4) which was serviced on 20th October 2020 at 10,242 miles. I bought it on 30th March 2021 and it had 10,245 miles. The car has been "stored" for over 5 months as it was not for sale until recently!

I think the car industry in general is storing vast numbers of used cars and drip-feeding them into the market to save an over-supply and therefore inevitably a price crash and potential impact on new car sales.
There is definitely something going on in the used car market at present.

Not certain they are drip feeding anything, the major issue right now is that all those people who used public transport before Covid are now trying to get into a used car pushing prices up severely - No one wants to travel on a bus right now.

 

[Ole gits rule]

This does seem to be a trend right now on 35iS - will it hold after lockdown / summer?

I'm tempted to leave it a while I have to say, I would like one but not at those prices, will be interesting to see what happens after lockdown/summer for sure!

Are you that patient, I am not when my mind is set then I'm off and nothing will deter me.

 

[Pondy]

Not certain they are drip feeding anything, the major issue right now is that all those people who used public transport before Covid are now trying to get into a used car pushing prices up severely - No one wants to travel on a bus right now.

Really?
This is BCA's storage facility at Upper Heyford where my Volvo went (and I will bet still is)

 

[Mike Carter]

This does seem to be a trend right now on 35iS - will it hold after lockdown / summer?

I'm tempted to leave it a while I have to say, I would like one but not at those prices, will be interesting to see what happens after lockdown/summer for sure!

Are you that patient, I am not when my mind is set then I'm off and nothing will deter me.

That made me laugh out loud
Well I am trying to let my head rule rather than my heart as they say! I've spent far too much money on a 40 year old Triumph TR7 V8 (money pit), so just trying to be sensible!! :lol:

 

[Ole gits rule]

Yes, don't forget most garages are on click and collect so they are not selling as they would normally, nobody can browse and also car auctions are closed so no one is buying form their either.

There is nothing to suggest they are stock piling to push prices up, just the current circumstance sound Covid.

 

[Ole gits rule]

Are you that patient, I am not when my mind is set then I'm off and nothing will deter me.
[/quote]

That made me laugh out loud
Well I am trying to let my head rule rather than my heart as they say! I've spent far too much money on a 40 year old Triumph TR7 V8 (money pit), so just trying to be sensible!! :lol:
[/quote]

I always say that but guess what, it never ever works for me

Man maths is a marvellous thing when you put your mind to it, everything can be made to look like a great idea

 

[Boris]

doh! quoted wrong post

 

[Boris]

That looks like a nice car overall, will sell for £16k plus and to a dealer I am sure

It went for £15,100 eventually; I spoke to the seller (very local to me) prior to the sale finishing and could have had it for £14k but chickened out because of the existing finance!

 

[Argyll Andy]

That looks like a nice car overall, will sell for £16k plus and to a dealer I am sure

It went for £15,100 eventually; I spoke to the seller (very local to me) prior to the sale finishing and could have had it for £14k but chickened out because of the existing finance!

Mmmm that’s a decision that may cause the odd moment of regret.

I wouldn’t have been put off by the finance, unless it was for more than the purchase price, then I’d walk away.

I’ve bought cars like that before, done the deal, got the seller to phone the finance company there and then. I’ve settled the finance directly and paid then the balance to the seller. Then I knew the car was finance clear. £14k was a bit of a steal even with its issues.

 

[Timmyboybunter]

Finance wouldn't bother me either - have bought a number of cars and bikes over the years where finance needed to be cleared beforehand.

The gamble with this white one, to my mind anyway, is the unknown roof issue and unknown modifications. At best, it's a minor issue due to a discharged battery and is a lovingly and carefully modified prized toy, backed up with all associated documentation.

Any number of 'at worst' scenarios - something in the roof is bent, it's had a good pasting after a cheap and cheerful generic remap, etc. Worth a punt if we're talking about a sub £3k E85, but £15k is well north of my gamble point. Many others not so cautious however, especially if a dealer with a workshop at their disposal.

Will be interesting to see where it pops up - either for sale at a huge markup or a new owner on here

 

[Argyll Andy]

Will be interesting to see where it pops up

The way things are going mods removed, issues resolved then on Sytners website somewhere under £30k :lol:

 

[Nanu]

A few to choose from

 

[Ole gits rule]

That looks like a nice car overall, will sell for £16k plus and to a dealer I am sure

It went for £15,100 eventually; I spoke to the seller (very local to me) prior to the sale finishing and could have had it for £14k but chickened out because of the existing finance!

Mmmm that’s a decision that may cause the odd moment of regret.

I wouldn’t have been put off by the finance, unless it was for more than the purchase price, then I’d walk away.

I’ve bought cars like that before, done the deal, got the seller to phone the finance company there and then. I’ve settled the finance directly and paid then the balance to the seller. Then I knew the car was finance clear. £14k was a bit of a steal even with its issues.

Would not have stopped me either, in fact you can pay the finance off and give the seller the difference so no issues with that side of it.

£15k is a steal and £14k would have been daylight robbery, even spending £3k to get it right its a £20k + car

 

[step_change]

That 35is looks like mine - a forum car. Mine has 65000 on it now and is a post LCI 2013 build with every gadget on it. I only paid 16000 for it from Keith in Jan 2018! What is it worth now?

 

[step_change]

Gosh prices really have gone up on the 35is. Wow. Maybe she's a keeper then

 

[Argyll Andy]

That 35is looks like mine - a forum car. Mine has 65000 on it now and is a post LCI 2013 build with every gadget on it. I only paid 16000 for it from Keith in Jan 2018! What is it worth now?

Fully loaded £18.5/£19k possibly a bit more if someone really wants the colour/spec you haves you’d make 2.5-4K if you were to sell presently.

The question would be what to replace it with as most cars of a similar ilk are only heading in the same direction

 

[step_change]

Hey Andy,
No way in a gazillion years I'm selling it, I love it!
Good to know in three years of motoring it has gone up in value. Not often that concept applies to motoring!

I have cossetted this car too much actually and only done 3000 a year in it. I hope that to change this year and get her out more.

 

[Argyll Andy]

Hey Andy,
No way in a gazillion years I'm selling it, I love it!
Good to know in three years of motoring it has gone up in value. Not often that concept applies to motoring!

I have cossetted this car too much actually and only done 3000 a year in it. I hope that to change this year and get her out more.

Correct answer, it’s all about the fun of driving them and hopefully as you say well all be able to do much more of that soon

It is good as you say, but also unusual, to know your car has grown in value rather than depreciated