Used car prices going mad

[gadgetJunky72]

Any thoughts on when the bubble might burst.

I bought a car (new) last year that I'm not really jelling with and now might be the right time to get rid.

thx

 

[Obs-Com]

There have been discussions on another thread related to price of used G29s and in particular, prices being offered by WBAC. Used prices are regularly increasing as numbers and availability is very limited currently.

Out of interest (my G29 won’t be sold anytime soon as it’s simply fabulous) I explored valuations via WBAC for my M40i First Edition which is two years old in June and just shy of 12000 miles. I bought it with a few hundred miles on the clock as a pre reg from BMW in November 2019 with a significant reduction off the new price. A few weeks ago WBAC was offering £37000. The valuation has continued to increase and is currently at £39350. Amazing!

 

[Argyll Andy]

Any thoughts on when the bubble might burst.

I bought a car (new) last year that I'm not really jelling with and now might be the right time to get rid.

thx

Unfortunately it’s a how long is a piece of string…….

I’ve mentioned previously about the perfect storm, lack of 2nd hand cars mainly due to no new car sales, no trade ins, no auctions and for some people plenty of COVID money/payments.

IMO that’s starting to change, there’s at least 4 of us expecting delivery of new build G29’s, some as early as the next few weeks, so if that’s a general trend then the trade ins/2nd had market will be getting a lift with more cars becoming available. I’d imagine that will be happening across the board in some way. Supply should increase meeting demand better, so prices should stabilise or drop. There’s also the seasonal factor.

The other thing is how sought after the car you want to shift is (to the appropriate market) and also if you want/need to replace it with something else? If you keep yours due to increasing prices it’s replacement may be following the same path so you’ll get more for your but pay more.

In your position I’d be looking at 1st, would I be happy with the price I get today and 2nd, how much out of my pocket to change?

If you’re just selling only you know what you’d be happy to accept.

If I’d sold my 35iS now instead of 6/8 weeks ago I’d have very likely got slightly more money for it today, but I was happy with the price I got (and still am) and happy with the deal on my new one and to me that’s what matters

 

[Argyll Andy]

There have been discussions on another thread related to price of used G29s and in particular, prices being offered by WBAC. Used prices are regularly increasing as numbers and availability is very limited currently.

Out of interest (my G29 won’t be sold anytime soon as it’s simply fabulous) I explored valuations via WBAC for my M40i First Edition which is two years old in June and just shy of 12000 miles. I bought it with a few hundred miles on the clock as a pre reg from BMW in November 2019 with a significant reduction off the new price. A few weeks ago WBAC was offering £37000. The valuation has continued to increase and is currently at £39350. Amazing!

Obs, I’ve contributed to that thread a fair bit because I’ve been keeping a very keen eye on it and the 35 market for obviously reasons :lol:

I posted on there recently that there’s a 6 month old AUC M40i G29 with 2 out of the 5 options pack that I’ve ordered on it. By the time you add RFL and a tank of fuel to the 2nd hand one it around the same price as my fully loaded brand new one. Only made sense to buy a new one so we were prepared to wait

I think Ori is in a very similar position to you, he’s stated if his increases in value much more it make sense for him to sell his an but a brand new one.

 

[IRD]

Offers for my (now sold 3.5is) from WBAC increased from just over £9000 to £13000 in just a couple of months and they are still pestering me. Happily my car went to another forum member at a price we were both happy with. I got a fair price he got a first rate car. One of the benefits of the forum. It’s mutually beneficial.

 

[gadgetJunky72]

Unfortunately it’s a how long is a piece of string…….

I’ve mentioned previously about the perfect storm, lack of 2nd hand cars mainly due to no new car sales, no trade ins, no auctions and for some people plenty of COVID money/payments.

IMO that’s starting to change, there’s at least 4 of us expecting delivery of new build G29’s, some as early as the next few weeks, so if that’s a general trend then the trade ins/2nd had market will be getting a lift with more cars becoming available. I’d imagine that will be happening across the board in some way. Supply should increase meeting demand better, so prices should stabilise or drop. There’s also the seasonal factor.

The other thing is how sought after the car you want to shift is (to the appropriate market) and also if you want/need to replace it with something else? If you keep yours due to increasing prices it’s replacement may be following the same path so you’ll get more for your but pay more.

In your position I’d be looking at 1st, would I be happy with the price I get today and 2nd, how much out of my pocket to change?

If you’re just selling only you know what you’d be happy to accept.

If I’d sold my 35iS now instead of 6/8 weeks ago I’d have very likely got slightly more money for it today, but I was happy with the price I got (and still am) and happy with the deal on my new one and to me that’s what matters

thanks for the response.

it's a 2020 Supra and a 3rd car. no plans to buy anything else any time soon. maybe a facelift gen1 R8 in the winter (the car I should have bought instead of the Supra). I've put it up for sale on Wizzle and Motorway. I have a price I'd be willing to let it go for so if I get that off it goes.

 

[Argyll Andy]

I've put it up for sale on Wizzle and Motorway. I have a price I'd be willing to let it go for so if I get that off it goes.

Hopefully it gets to your ask. Given so many shared parts with the G29 and there’s a struggle to get them increasing demand for 2nd hand the Supra will be in the same category

 

[Old-Duckman]

Over here in the States used cars are at a premium. Major car dealerships are offering to buy your car and you do not have to be buying a new car from them...that was unheard of in the past.

What I've read that a major factor is the lack of "chips" (microchips for car computer systems etc.) are in short supply and the chip manufacturers can not fill the demand of auto manufacturers. Do a web search on "chip shortage automotive 2021". You'll find more articles on that then you would care to read.

So new cars are harder to get as manufacture of them is stifled, therefore used cars are desirable...the old supply and demand thing.

One article I read said that two of the largest car rental companies, Hertz & Avis, are now buying used cars at auction to have vehicles available for rental.

 

[AnilS]

I would not get too excited about WBAC as they always quote you a higher price than what they actually give you. Their technique is to get you into one of their centres and then knock a substantial amount of money of it for such minor things. A single stone chip or minute scratch identified which you did not declare will have a substantial amount of money knocked off that figure.

This has been my experience a few years ago.

 

[True-Blue]

I’ve been coming up to London every 3 weeks since the beginning of the year for my Mrs Chemo. London has been dead. Came up today for treatment tomorrow and the Southbank was very, very busy. People eating out, pubs full etc.

I personally think prices will start to drop in the relatively short term, as people are able to return to their normal spending habits, especially for non-practical sports cars. The chap who bought my E89 said ‘We have 3 holidays a year normally, we can’t this year, so we thought we’d buy a Sports car’

If you have a car you want to cash in on, I don’t think you should wait too long.

The TTs won’t be going anywhere, was cheap enough to ride out a bit of a market collapse and.... I can’t keep the Mrs out of it, puts a smile on my face every time I see her ‘potter’ off in it

 

[rdgreen]

What I've read that a major factor is the lack of "chips" (microchips for car computer systems etc.) are in short supply and the chip manufacturers can not fill the demand of auto manufacturers. Do a web search on "chip shortage automotive 2021". You'll find more articles on that then you would care to read.

Isn't the shortage caused by Bill Gates buying them all up for inserting in the Covid 19 jab...........

 

[Zulu4]

What I've read that a major factor is the lack of "chips" (microchips for car computer systems etc.) are in short supply and the chip manufacturers can not fill the demand of auto manufacturers. Do a web search on "chip shortage automotive 2021". You'll find more articles on that then you would care to read.

Isn't the shortage caused by Bill Gates buying them all up for inserting in the Covid 19 jab...........

 

[Old-Duckman]

What I've read that a major factor is the lack of "chips" (microchips for car computer systems etc.) are in short supply and the chip manufacturers can not fill the demand of auto manufacturers. Do a web search on "chip shortage automotive 2021". You'll find more articles on that then you would care to read.

Isn't the shortage caused by Bill Gates buying them all up for inserting in the Covid 19 jab...........

No those chips are much smaller...nano, like microscopic!

Why is Mr. Gates buying up lots of farm land and not farming it..? Look out for food shortages in the not too distant future. He already wants people to eat "meat" not obtained from livestock...though insect protein is OK. I have been a lacto-ovo vegeterian for over 20 years so no insect protein for me...except the errant bug I get in a salad!

Does seem like he has fallen a bit in the eyes of many due to his close association to Mr. Epstein. I guess Bill's wife wasn't too happy 'bout that? His money will see him through this crisis I suppose.

 

[Pondy]

No those chips are much smaller...nano, like microscopic!

Why is Mr. Gates buying up lots of farm land and not farming it..? Look out for food shortages in the not too distant future. He already wants people to eat "meat" not obtained from livestock...though insect protein is OK. I have been a lacto-ovo vegeterian for over 20 years so no insect protein for me...except the errant bug I get in a salad!

I do love a good conspiracy theory, it brightens my day
I had to look up lacto-ovo vegetarian as never heard that one before.

 

[M340]

Intrigued by this thread, I looked up my M340 Touring. WBAC (who usually make comedy offers) offering £5k more than what I owe on it. Considering it’s 14 months old (and break even on a PCP is usually 28-34 months) is absolutely crazy. I’d be tempted, but assume I can’t get a new one right now - so defeats the point!

 

[Argyll Andy]

Intrigued by this thread, I looked up my M340 Touring. WBAC (who usually make comedy offers) offering £5k more than what I owe on it. Considering it’s 14 months old (and break even on a PCP is usually 28-34 months) is absolutely crazy. I’d be tempted, but assume I can’t get a new one right now - so defeats the point!

There’s two new unregistered ones sitting in dealer stock but they are taking orders and fulfilling them. There 4 of us I think waiting for recently ordered G29’s and the first one arrives in two weeks then another couple the week after that.

https://stock.bmw.co.uk/results?f=dHJ1ZQ==&v%5Bvehicle_ids%5D%5B%5D=59&p=RzEzM1lZ&ds=ZmFsc2U=&d=NTAw&monthly_min=MA==&monthly_max=NTAwMA==&term=NDg=&deposit_max=NDUwMA==&mileage_max=MTAwMDA=

If you’re looking to get out of a 2nd hand one now seems to be a pretty good time to do it

 

[M340]

If you’re looking to get out of a 2nd hand one now seems to be a pretty good time to do it

Cheers for the tip!

Well I have a deposit down on an M3 Touring. But it’s ages away and it’s got that face Swapping mine for a new one with no money down is intriguing. Though I hear the MHT sounds a lot worse. Will investigate!