2nd hand car prices still inflated?

[slinxy]

Hi guys,

Are 2nd hand car prices still inflated or have they dropped back down to normal and I've just been out of the game for such a long time that they all seem high to me still?

My current car, I purchased an 2011 plate in 2015 VW 1.6 golf, one owner from new with all the mod cons and 98k on the clock for around £7000.

My car before that was an 2005 plate Audi a3 brought in 2008/9, one owner from new with 100k on the dail for around 6k.

I'm just looking for a replacement at the moment and cars of my age are still going for around £4000.

It's really making me think that I may be better off getting a car on a lease via work but I'm really looking for a German or Japanese motor... diseal and if possible a 4x4 as I do live in the sticks now.

 

[slinxy]

Yeah while not quite as mental as they were a year or so back they're still very high from what we'd all know as 'normal'

There are some good deals on electric cars mind.

The issue I have with electric cars is the battery life span, I know I will have to switch at some point but not just yet for me.

I think that back in the days, companies and old people would buy a new car keep it for 3 years then move it on for a newer model.
Some car warranties have extended to 5 years. Car manufactures are not offering deals on company cars as they used to and people are working from home more so they are taking the risk of having an older car for longer.

Just seems to me it's crazy to pay 8k-10k for a car that is 8-10 years old...

 

[slinxy]

I don't know if this is the right thread for it or not but what would you do in the following situation.

You have an 18 year old car that could fail at any moment. You rely on car so absolutely have to have one. And not some tiny useless city car either, has to be a good size hatchback or estate for mile munching and carrying gear whether that is suitcases to the airport or camping gear.

1. Private PCP lease.
2. Salary sacrifice scheme (has to be an EV).
3. A £10k personal loan over 5 years.

A £10k loan is £200 a month. Pcp I have no idea how much you need these days. Salary sacrifice schemes gets you an all in car (insurance Inc etc) but is over £400 a month and has to be an EV.

Given what we've been discussing and the way prices are, what's the best option here?

The best option... is to save a raining day fund to buy a replacement when it's required.

I've been sitting with 10k in a bank account for that very reason...
I have the option of a PCP lease and Salary sacriface scheme but I don't need nor want a new car..

I want the safety of not having to worry about what happens to the car when I'm not there, people keying it (which happens a lot in manchester), people opening their doors and denting the side of the car..

I try and cycle and take public transport as much as possible. I only tend to use my car to go to the gym, where someone smashed the cover of my wing mirror, going to work as I live in the sticks and my work place is also in the sticks, it's impossible to take public transport. The weekly shop, going to car boots and to visit my folkes every so often.

 

[slinxy]

other issue is the lead time to find a 2nd hand or new car meeting your criteria within acceptable distance if existing car has an issue -
been looking for 3 months - stock of appropriate cars is low, and dealers over-stocked with models sitting for months optimistically priced.

I drove past Hylton Gott volvo kings lynn the other day - how do they afford to have all the capital tied up in used cars, it's like land banking.

I went to look at a mini paceman a few weeks back from a small dealer, I knew I wasn't going to buy it but I wanted to see one in person before chasing them to find one in the spec and price range that I was looking for.

The small dealer claimed that has over 3 million pounds in car stock, the cars which he kept at his private home which was all prestige cars and he had a small lot not that far from his house.
Judging by the cars he had at his home, serveal beemers, mercs and a jags.. it's a lot of capital .

I'm kinda lucky, I guess I can get away with not having a car for a few weeks.. I just don't want to over pay for piece of **** and I don't really just want a stop gap car then have to deal with getting rid of it.