A sobering reminder (car prices)

[gbb]

2020 I brought my 2018 Mazda 3, cost was £11k.
Assisted my granddaughter today while she brought a new (to her) car, a 2019 Hyundai 130 N, really nice car, I'd actually have one...but, while we were there I mosied round the lot and found a 2018 Mazda 3, exactly the same spec as mine...£10,400.

So give or take, 2020, £11k got you a two year old car
Fast forward to now, same ish money buys you the same car but now it's a 7 year old car.

 

[si_c]

Constantly surprised when I check that Mrs C's car has only depreciated about 10% in the 9 years we've had it.

Edit to add: although she is a very low mileage user, so the car has gone from slightly above average to well below.

 

[november4]

thats why the car DIY thread is so popular, folk holding onto their main or second family cars

 

[Drago]

Glad I don't have a car and, as november4 rightly suggests, I'll be keeping my camper until one of us goes to heaven.

 

[Jameshow]

Glad I don't have a car and, as november4 rightly suggests, I'll be keeping my camper until one of us goes to heaven.

Client has a lovely Bedford camper! 84 model autosleeper! Lovely thing!

 

[cyberknight]

New car prices have increased drastically over the last few years due to the extra gubbins that they have nowadays, add in wages have increased around 20% in the last 5 years and car prices on average are closer to 40 % you can see why many are not buying a new car which means there is more demand for second hand cars so of course the dealers charge what they can get away with .
When we bought our old dacia stepway they were about £8 k new ? 7 years ago and now they are about £14-15 k

 

[Drago]

New car prices have increased drastically over the last few years due to the extra gubbins that they have nowadays,

That and the fact that most people dont "buy" a new or newish car any more. The bulk of the market rent them on PCP and are only really interested in the monthly payment, leaving manufacturers free to crank up headline price instead.

Hell,you cant even outright buy a new Corsa if you wanted one, the only means to acquire a brand new one is on PCP or a lease.

 

[stephec]

Glad I don't have a car and, as november4 rightly suggests, I'll be keeping my camper until one of us goes to heaven.

If your camper can make it all the way up there it must have a massive fuel tank.

 

[Pblakeney]

Hell,you cant even outright buy a new Corsa if you wanted one, the only means to acquire a brand new one is on PCP or a lease.

That's going to scupper my tactic of buying discounted nearly new outright and running it into the ground.
My current one best keep ticking along. 10 year old and sailed through it's MOT with no advisories. £250 all in including a major service. 😎

 

[gbb]

I recall a programme or video discussing car manufacturers responses to the pandemic driven shortages of components and how they realised that the restrictions it meant on output, actually helped drive up prices...and profits. Prior to that, only luxury brands had managed this, restricted supply, prices high.
The program quoted how.major.manufacturers were suddenly making buge profits theyd never managed to do when mass producing.
At the same time, some manufacturers were dropping small cheap models like the Fiesta because there was little profit in them...effect, no more cheap cars so people have to spend more.

And of course,, that limited availability works it's way into the 2nd hand market, pushing up prices.

It's a win win for manufacturers, a lose lose for customers. But then, we're cars too cheap pre pandemic ? A 10 year old car was scorned and had little value in people's perceptions (i always thought at least)...now, its deemed perfectly acceptable.

 

[Pblakeney]

Glad I don’t give one whit of concern about other people’s perceptions.

 

[vickster]

That's going to scupper my tactic of buying discounted nearly new outright and running it into the ground.
My current one best keep ticking along. 10 year old and sailed through it's MOT with no advisories. £250 all in including a major service. 😎

You just buy ex lease or motability at 3 years old 👍 My EV was 3 years old, ex motability and with under 2000 miles on clock!! Even smelled new!
I paid a little over half the new price

 

[Drago]

Having had experience of Motability the last place id spend my money is on a used car from their stable. Probably a safer bet with an EV as they require less servicing, but even so...

 

[vickster]

Having had experience of Motability the last place id spend my money is on a used car from their stable. Probably a safer bet with an EV as they require less servicing, but even so...

Don't they have to be serviced annually by a main dealer?
Mine had a full service history despite the silly low mileage! The tyres still had the knobbly bits

 

[Pblakeney]

You just buy ex lease or motability at 3 years old 👍 My EV was 3 years old, ex motability and with under 2000 miles on clock!! Even smelled new!
I paid a little over half the new price

Heads up. ICE cars (not sure about EV) need to be used* to run reliably so a low mileage car can be a bad thing. Short distances without getting properly warmed is particularly bad. Tyres, hoses etc deteriorate.

*I learned this through bitter experience.