Welcome to GUBU.ie - if you're new here check out Housekeeping for more info. Any queries contact us. We're aware of an issue that our activation emails are not getting through to a handful of gmail users. If you registered but did not receive an activation email, let us know. If you're not so new here, you can dismiss this message.

Have second-hand car values really increased by 50% since early 2020?

Four wheels good
Post Reply
quodec
Posts: 137
Joined: Sun Jul 25, 2021 1:40 pm

Have second-hand car values really increased by 50% since early 2020?

#1

Post by quodec »

Some motoring media people were suggesting this recently. But I've been keeping an eye on a few cars across some websites this past while (I know, they havn't sold in that time!) and their prices have remained the same! Is it small runarounds, hybrids or older e-cars? Anyone the wiser?
User avatar
Scotty
Posts: 244
Joined: Tue Jul 27, 2021 3:20 pm

Re: Have second-hand car values really increased by 50% since early 2020?

#2

Post by Scotty »

A few thousand ex rentals will not be coming onto the market while tens of thousands of UK imports will not be entering. This leaves our second hand market pretty bare. We'll most likely return to importing used Japanese cars. It's not so much that used cars are going up in value, it's that they're not losing their value at the normal rate.

With 2030 quickly approaching, people are also going to start getting weary of buying new non electric cars too as they could devalue very fast.
scooby
Posts: 63
Joined: Tue Jul 20, 2021 2:46 pm

Re: Have second-hand car values really increased by 50% since early 2020?

#3

Post by scooby »

Prospect of electricity shortages or prices spiking in future could dissuade many a buyer from going electric as we approach 2030.

I'd expect new sales of combustion engines to spike in 2029 as many people will want to hang onto an ICE car as long as theyll last.
User avatar
Scotty
Posts: 244
Joined: Tue Jul 27, 2021 3:20 pm

Re: Have second-hand car values really increased by 50% since early 2020?

#4

Post by Scotty »

I think petrol prices (diesel is set to be banned by then) will drive us toward EV's. We've already been told that petrol will go up automatically in each budget between now and 2030 as part of the carbon emission tax.

Of course we'll also have to be producing enough electricity and at a reasonable cost. EV's in Ireland at the moment are actually being powered by COAL!! That has to change.

A very interesting 30 years ahead of us regarding energy! I wonder have they started looking at sites for Nuclear yet?
Hairy-Joe
Posts: 224
Joined: Tue Jul 20, 2021 3:33 pm

Re: Have second-hand car values really increased by 50% since early 2020?

#5

Post by Hairy-Joe »

To be fair, the price of our second hand cars compared to other EU countries for the same age/spec was very low. It will mean the price to change up to a second hand will go up a bit but the price to change up to a new car should drop. It should also mean the price of PCP should drop.

However, given the non existent public transport for anyone outside Dublin and Cork cities, we'll still need cars. Also, given the state of our electricity network and usage patterns, petrol/diesel will still be needed.

Anyway, I'm one that will be ordering a new diesel motorhome and petrol car for delivery in 2029. There's no electric motorhomes even in prototype stage, never mind for sale. Motorhomes have to be able to drive decent distances of 600 to 800km in one go (I drove France in two days for example). A lot of them weigh 3 tonnes unladen, never mind the batteries needed to move that weight.

I'll be ordering a new Petrol car for 2029 and if that vehicle lasts 15 to 20 years, it should see me out. I've currently a '14 diesel car that I've no notion of changing my car for EV. A few times a year I help out at motorsport events and it's kinda hard to charge an EV when doing a course car job or running here and there sorting results, etc.
Post Reply