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Used car prices are still silly - Thoughts?

MashinBenzin

Test Pilot
Posts
127
Likes
152
Drives
D5
Hopefully prices of big engined cars will soon take a tumble, have been waiting for prices of used Range Rovers to become more sensible since April 21.
Getting two Alsatians in the back of the e92 is a bit of a squeeze, fortunately I have the use of a commercial Discovery 4 that I mainly take them out in....but it's a bit dull
Supply is so constricted at LR. I know the FFRR is being replaced and they’ve built quite a stack of the old one to finish the run, but demand is no doubt off the scale.

For the Discovery, it’s now an 18-24 month wait. Those potential new buyers will be fighting over old model FFRRs as well as Discos no doubt.
 

boba fett

Racing Driver
Posts
3,796
Likes
2,116
Location
Kent
Drives
320d
The 2020/2021/2022 low sales figures will be totalling something like 1.5m less supply into the market by now. Whilst nearly new is the obvious impact, those would have bought nearly new are now buying 3 year old cars and so on down the market.

Our two cars - my Disco 5 is currently at over 90% of the invoice cost in July 2020. My wife’s Auris is at about 55% of its September 2013 invoice! Both bought new.

Purely on supply and demand I would expect prices to hold up, but the war is the wildcard from hell. Immediate impact appears to be reduced supply which should drive up prices. But it has the potential to drive down demand as well, through cost of living. Without even considering the third way where cars become irrelevant.
This is where it’s up in the air. When COVID struck after about 6 months I thought prices would plummet, how wrong was I!

what with EV, War, gas prices, cost of living and used car prices on an all time high, I am tempted to sell my rare M3, before prices do come down. do I stick or twist, I dunno? I hate losing money on cars!
 

Chappers 71

Tyre Kicker
Posts
15
Likes
11
Drives
E92 335i
Supply is so constricted at LR. I know the FFRR is being replaced and they’ve built quite a stack of the old one to finish the run, but demand is no doubt off the scale.

For the Discovery, it’s now an 18-24 month wait. Those potential new buyers will be fighting over old model FFRRs as well as Discos no doubt.
Maybe but I am going to remain optimistic, when the upcoming costs of living catches up with those that are living champagne lifestyles on lemonade money then I will make my move 😉
I don't do finance & have a max budget of £35,000 cash, although ideally I'd like to spend less than £25k
 
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