Used car prices set to rise !!!

Les4048 · 12th April 2020, 11:11

Just come across this and it’s the opposite of what I thought would happen

https://www.honestjohn.co.uk/news/co...ar-production/

coolguy · 12th April 2020, 11:14

With new car registrations falling, there will be a reduction of second-hand cars available, and as older cars wear out (not ours of course) folk will be looking for replacements from a smaller quantity available. Hence prices rise, as with any shortage.

bendrick · 12th April 2020, 11:59

I'd previously have thought the opposite to be honest, with dealers unable to shift their stocks of second hand cars because no one is venturing out won't there be a surplus with desperate businesses needing cashflow to stay afloat.

Also won't private sellers be anxious to get rid of the unwanted car on their drive that will have been sitting there for months unable to be viewed or sold?

DMGRS · 12th April 2020, 12:01

There's a lot of factors, personally I believe they'll mostly balance each other out, meaning we still have a very similar used market as today.

SCP440 · 12th April 2020, 12:27

Friends who are in the used car trade are reckoning on a used car boom until manufacturers catch up, one was telling me approx. 40k new cars are sold in the UK every week.

With probably a lot of cars going to scrap as soon as the MOT extension is lifted where are there replacements going to come from?

I can see our shores being flooded with new cheap stock and our factories on overtime for a while trying to catch up.

A friend who had ordered a new van before this all started has been told there is no forecast on its delivery date and the dealer reckons that means more than 20 weeks. He is already looking for a good used one as his needs a lot of work.

Maybe we will end up paying the higher prices Europeans pay for used cars? I know a colleague who worked in Sweden for a few months was shocked what 8 year old cars fetch. He reckoned they were more than twice what we pay.

12th April 2020, 11:11	#1
Les4048 This is my second home Rover 75 Tourer/ MG ZT-T 400 Join Date: May 2012 Location: Lhanbryde Posts: 3,278 Thanks: 2,627 Thanked 1,523 Times in 869 Posts	Used car prices set to rise !!! Just come across this and it’s the opposite of what I thought would happen https://www.honestjohn.co.uk/news/co...ar-production/

12th April 2020, 12:01	#4
DMGRS Discount MG Rover Spares Rover 75 CDTi, 2x MG ZS180 Join Date: Jun 2011 Location: Hythe, Southampton Posts: 11,320 Thanks: 456 Thanked 3,377 Times in 2,027 Posts	There's a lot of factors, personally I believe they'll mostly balance each other out, meaning we still have a very similar used market as today. __________________ Your trusted MG Rover specialist! Tel: 02380 001133 / Email: [email protected] We now have a 'chat' function on our site for even quicker replies. Give it a try! Remember - discount code FORUM5 for 5% off

12th April 2020, 11:14	#2
coolguy Coolguy Rover 75 CDT Tourer Auto, Rover 75 2.0 Connoisseur Auto, MG ZT 2.5 Auto and MG ZT Cdti Auto (Monogra Join Date: Nov 2009 Location: Finedon Posts: 1,897 Thanks: 933 Thanked 638 Times in 430 Posts	With new car registrations falling, there will be a reduction of second-hand cars available, and as older cars wear out (not ours of course) folk will be looking for replacements from a smaller quantity available. Hence prices rise, as with any shortage.

12th April 2020, 11:59	#3
bendrick Gets stuck in Ex CDT Auto Join Date: Oct 2017 Location: Barry Posts: 655 Thanks: 76 Thanked 266 Times in 155 Posts	I'd previously have thought the opposite to be honest, with dealers unable to shift their stocks of second hand cars because no one is venturing out won't there be a surplus with desperate businesses needing cashflow to stay afloat. Also won't private sellers be anxious to get rid of the unwanted car on their drive that will have been sitting there for months unable to be viewed or sold?

12th April 2020, 12:27	#5
SCP440 I really should get out more....... MG ZT-T 260 Join Date: Feb 2016 Location: Witney Posts: 2,504 Thanks: 6 Thanked 910 Times in 571 Posts	Friends who are in the used car trade are reckoning on a used car boom until manufacturers catch up, one was telling me approx. 40k new cars are sold in the UK every week. With probably a lot of cars going to scrap as soon as the MOT extension is lifted where are there replacements going to come from? I can see our shores being flooded with new cheap stock and our factories on overtime for a while trying to catch up. A friend who had ordered a new van before this all started has been told there is no forecast on its delivery date and the dealer reckons that means more than 20 weeks. He is already looking for a good used one as his needs a lot of work. Maybe we will end up paying the higher prices Europeans pay for used cars? I know a colleague who worked in Sweden for a few months was shocked what 8 year old cars fetch. He reckoned they were more than twice what we pay.