Second-hand car prices rising rapidly (?)

S

Storini

Member
Seen several news articles recently claiming the above, e.g. https://www.standard.co.uk/business/used-car-prices-soar-sell-record-speeds-new-vehicles-sales-slump-autotrader-lookers-cinch-cazoo-b949479.html - allegedly due to chip shortages.

Good thing or bad thing? I was hoping to change up to an E89 but that appears to be a receding prospect now...
 
Storini said:
Seen several news articles recently claiming the above, e.g. https://www.standard.co.uk/business/used-car-prices-soar-sell-record-speeds-new-vehicles-sales-slump-autotrader-lookers-cinch-cazoo-b949479.html - allegedly due to chip shortages.



Good thing or bad thing? I was hoping to change up to an E89 but that appears to be a receding prospect now...
Click to expand...

Why? you pay more for your e89 but you get more for your e85 :)
 
With higher prices, if you are buying a more expensive car, then it is inevitably going to cost you more.
Car prices across the board seem to have gone up by an average of around 20% in the last six months. Obviously some more than others.
If you are able to; sell your E85 now and wait until January to buy an E89, they will be the cheapest they are going to get then.
 
2nd hand price-hikes are due to current global chip shortages.
Root cause seems to be a few factors, notwithstanding Huawei gobbling up capacity as the US is no longer allowed to supply them.
I worked for ASML here in NL years ago and got to know how the semicon market works a little bit and it's possibly one of the most cut-throat and underhand industries going! Worse than insurance/banking and oil&gas imo.

In any case, while chip production capacity is still bottlenecked by high demand and short supply 2nd hand cars will maintain strong values until chip supply starts to balance out and new cars start rolling off production lines again. Then it will be back to normal. So sell it while ya got it seems to be the advice if you're pondering on selling your tired old P&J, or stick it out if you've got a hole burning in your wallet for a brand new Volvo...
:lol:
 
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