Cost of second-hand cars up 56%!

[quodec]

Donedeal's latest report shows an increase of 56% in the value of second-hand car sales in the last two years! A perfect storm of Brexit, a shortage of semi-conductors for new vehicles and the pandemic have driven trade-in prices rocketing!

The 'For Sale' listings on sites such as Carzone and Donedeal have dropped by half in the same period.

Unfortunately, along with many other perennial second-hand upgraders, I'm caught in the middle of this bubble as I scan the sites, trying to locate and purchase a 4/5 year old diesel. There's very little choice in the market if your being selective and what is available is mainly high-mileage examples at inflated prices!

I'll keep looking but it looks like I'll be holding on to my seven-year old diesel for longer than I thought! The joys of being a Luddite dinosaur purchaser in the hybrid/electric age!!!

[765489]

Was speaking with a second hand car dealer a couple of days ago who rents a yard off me, he said the lack of cars from hire companies has left a big gap in car volumes as well as brexit and chip shortages.

[Scotty]

The wheels are already in motion for a return the Jap import craze of the 90's.

[quodec]

We could be like Cuba if this shortage is prolonged! You know, keeping old bangers running for decades because of the lack of new imports!!!!

[765489]

We could be like Cuba if this shortage is prolonged! You know, keeping old bangers running for decades because of the lack of new imports!!!!

Poor Kadman would be hounded for his restoration skillz...

[490808]

56% is a headline just because advertised prices have gone up 56% I doubt that really means actual sale prices have gone up by 56%?

[kadman]

And dealer trade in allowances have dropped 56%. My son has had his 115 reg BMW 325 diesel low mileage valued at
10K on a trade in against a new one

[Frank]

We could be like Cuba if this shortage is prolonged! You know, keeping old bangers running for decades because of the lack of new imports!!!!

That's probably one real thng around motoring that would actually help all this green stuff that's all the rage now, instead of pouring money into new electric cars and dumping ones already built, but it would never catch on here unless something like this forced it.