Why has the cost of second hand cars gone up so much?

mrochester

mrochester

mrochester

Soldato
Joined
29 Sep 2003
Posts
5,834
Location
Newcastle upon Tyne
In 2015 I bought a 2010 Toyota Auris Hybrid T-Spirit with 19,600 miles on the clock for £7500. For the same sort of car today, about the same age and about the same number of miles, people seem to be wanting over £9000 and sometimes even £10000.

Does anyone know why the price of second hand cars has gone up so much?

M.
 
It's a curious trend that I've noticed too but I think it's largely restricted to petrol, hybrid and electric vehicles.
 
people want hybrid, green, economy, small engines etc.. :) and toyota is a well known brand for their hybrid cars.

diesels/big power v8s etc have been dropping price as per the usual.
 
grudas said:
diesels/big power v8s etc have been dropping price as per the usual.
Click to expand...

Dont think they have because they are rare.


It feels to me like the bottom of the car market is like the bottom of the housing market. Upto a certain price the cars/houses are old, beaten up, undesirable or crap. Above that threshold you can then get substantially more for your money but its out of reach.

A £400k house is 10x better than a £200k house. A £20k car is 10x better than a £10k car.

In 2006 I bought a 3 year old Ford Mondeo for £6k. Now im older and bit better off, i want a nicer car but even a 12 year old 5 series is £6-7k. Its not proportionate.
 
It has to be the trend that hybrids are now sought after whereas back even a few years people were diesel brain washed.
 
Looking at adverts for that year, model type and similar mileage now, I'm seeing several for around 8k. Doesn't seem to much of a rise.
 
Tell me about it - need to buy my first car in a few months and because everyone is scared about diesel petrol car values are rising
 
Shivy011 said:
Tell me about it - need to buy my first car in a few months and because everyone is scared about diesel petrol car values are rising
Click to expand...
Unless you need to travel into a city centre regularly - get a diesel then.

Cars registered before 1 April 2017 are taxed as before - so buying a second hand diesel that emits under 110g Co2, you'll be paying max £20 a year for the life of the car.
 
Bug One said:
Unless you need to travel into a city centre regularly - get a diesel then.

Cars registered before 1 April 2017 are taxed as before - so buying a second hand diesel that emits under 110g Co2, you'll be paying max £20 a year for the life of the car.
Click to expand...

I would if most diesels I am looking at were not post 2009 and have DPF and for the mileage I will be doing I would most probably have "clogging" issues
I also hope to not rattle around in a 4 banger diesel for as long as possible before everything goes hybrid/electric
 
2nd hand prices are rising as the cost of new cars is rising. Its also about supply and demand. also depends if buying private/trade. A trader will always sell a car on its "low mileage" but that doent mean a 20K car is better than a 40k mileage car as one could have been drove hard and short journeys over long motorway miles etc./
 
Same in the Golf market.

£4k for a 2006 mk5 Golf Gti in summer last year. Heated leather, xenons, 18" diamond cut monza II's. Only extra's it didn't have was cruise (£20 to retrofit), sunroof and folding wing mirrors. 110K on the clock and a FSH.

Same car now, £6K+
 
So You know not long ago like 1-2 years it became possible to register RHD cars in Poland.
I assure You loads goes for sale in Poland on top of other mentioned things as Insurance is only 20% more than LHD. But cars ALL CARS in uk are about 40% of Polish used cars price.
And In Poland You dont go to jail for changing cars mileage like here so buy 180k car change it to 95k and sell it. Sadly Standard :S
 
I think there’s a few factors at play. New car list prices have risen significantly. PCP has gone through the roof, as have in-house manufacturer finance houses doing contract hire which puts control of a lot more of the 3-5 year old car market in the hands of the dealer networks which has allowed them to drive prices up and the market has followed. Replacement cycles for cars have become longer, and lots of people have abandoned company vehicles so now run an older vehicle.

Then there’s the supply side - volume manufacturers have massively reduced building cars first and worrying about how to sell them later - production is more flexible so much more aligned to real demand. The recession hit car buying dramatically too, and that’s taken a very long time to recover. The changing car market also has an effect - everyone buying SUV’s had reduced supply of normal cars, particularly large family and exec cars but that continues to filter down to smaller stuff now everyone has a compact SUV in their range.
 
Ditto no one really bought anything from 08 to 12 so anything desirable will have a big price due to a lower number produced. Also seeing as the Japs were the only ones bothering with hybrids untill recent years means their value is worth more as everything German from the same period is diesel.
 
This is entirely to do with people ditching diesel, but not enough petrol cars to go around.

I've had the local dealer contact me and offer to buy mine because such high demand on the used market.
 
I can understand the "ditch diesel for petrol" momentum causing the price of petrol cars to rise steeply. But it's not really having a knock-on effect to reducing the price of diesel cars. I would have thought demand for diesel cars goes down, which means price must come down in order to sell.

I'll probably still be doing circa 20k miles when my current cars clocked up enough for it to be driven into the ground. So i'm obviously all for the diesel car market plummeting.
 
You must log in or register to reply here.
Back
Top Bottom