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      06-22-2021, 03:47 PM   #1
Abrek
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Used cars prices are going bonkers!

What's going on with used car prices??? Enquired back in March to trade in my 2018 435d only to be told I don't have any equity in it at £20,500. Last week BMW York sent email asking if I would like to sell my car, decided to inquire and they offered £25,000 straight away (WBAC offered £24,000). With only £19,500 outstanding on finance I just bit their hand and traded in on Sunday and ordered Tesla Model 3 LR, a bit of no brainier if you live in Scotland as you get interest free loan from Scottish government to buy EV plus additional £250 to install charging point on top of £350 from UK government. Delivery due in august, hopefully won't regret…
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      06-22-2021, 03:48 PM   #2
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It's now on sale at £27,500 for 3 and a half year old 435d, considering I paid £38,000 with zero % finance, it doesn't feel like good buy
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      06-22-2021, 04:07 PM   #3
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I think its due to the microchip shortages, which has resulted in a shortage on new cars, so dealers are trying to source used cars instead.

This is my theory anyway.

It also allowed me to get out of my '17 435d with equity, but the 440i I bought in its place I believe was also massively overpriced. Though I think the equity from the 435d sort of cancelled the price increase out though.
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      06-22-2021, 04:10 PM   #4
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Quote:
Originally Posted by g9icy View Post
I think its due to the microchip shortages, which has resulted in a shortage on new cars, so dealers are trying to source used cars instead.

This is my theory anyway.

It also allowed me to get out of my '17 435d with equity, but the 440i I bought in its place I believe was also massively overpriced. Though I think the equity from the 435d sort of cancelled the price increase out though.
Quote:
Originally Posted by g9icy View Post
I think its due to the microchip shortages, which has resulted in a shortage on new cars, so dealers are trying to source used cars instead.

This is my theory anyway.

It also allowed me to get out of my '17 435d with equity, but the 440i I bought in its place I believe was also massively overpriced. Though I think the equity from the 435d sort of cancelled the price increase out though.
I think you might be right but it just makes new car (if you can get hold of) a very attractive buy atm, especially from brands that don't normally offer new car discounts
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      06-22-2021, 04:16 PM   #5
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It's been covered a few times now but these videos sum it up



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      06-22-2021, 04:18 PM   #6
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Quote:
Originally Posted by un1eash View Post
It's been covered a few times now but these videos sum it up



So limited supply of new cars drives the price of used cars? I guess it's great for anyone looking to sell atm. How long before we will see new car prices going up as a result?
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      06-22-2021, 05:02 PM   #7
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Out of interest i got a price on my M4 - only bought it last sept - paid just under £41k - which at the time thought it was pricey (but is the equivalent of ultimate pack plus full leather interior)

Been offered £42k now!!! Thats with nearly 2k more miles and and extra owner!!
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      06-23-2021, 03:36 AM   #8
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There has been some discussion on this in these threads, also, if you are interested... A few have taken advantage of the situation...

https://f30.bimmerpost.com/forums/sh....php?t=1825235

https://f30.bimmerpost.com/forums/sh....php?t=1817553

Personally, I got lucky, I secured a new car order at a great discount in April and then was able to sell my Golf at a good price a month or so later in +ve equity...Little chance I could get the new car order now... Certainly not for a reasonablble delivery and at the same deal...
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      06-23-2021, 03:38 AM   #9
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Paid £28.5k for my 440 three and a half years ago , a similar car with a lesser spec is presently on the AUC website for £27k.

Good time to sell , bad time to buy - similar scenario to houses at the moment.

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      06-23-2021, 04:10 AM   #10
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WBAC offer nearly 16k for my 6.75 year old 335d! A few years ago it was 11/12!
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      06-23-2021, 04:29 AM   #11
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On WBAC my 68 plate 420i went from £19,500 on 17/04/2021 to £22,425 on 31/05/2021

I got a good deal on a M135i which are still available but wait times are September at the earliest.
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      06-23-2021, 04:48 AM   #12
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It's absolutely crazy at the moment. I paid just over £48K for my new X3 M40i in November 2019, the exact same spec & slightly higher mileage is selling at c. £46K now at the stealer's. A quick check on WBAC values mine at just shy of £44K. I haven't checked if that sees me in positive equity, and don't really have any intention of getting rid of the X3 as I really love it, but it does make you think about the inevitable longer term move to EV's as the OP's done...


EDIT: I actually had a recent statement from BMW so it looks like even with a WBAC valuation I'd be about £2K in the black.

Last edited by Blacktemplar; 06-23-2021 at 08:23 AM..
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      06-23-2021, 04:56 AM   #13
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Quote:
Originally Posted by SkyJawa View Post
WBAC offer nearly 16k for my 6.75 year old 335d! A few years ago it was 11/12!
That's crazy. I just put in the reg of the 72k mile 14 plate 335d I sold in March 2020 just before lockdown. WBAC offered £12,300 so not sure why they are less keen on my old car. Is your car low mileage?
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      06-23-2021, 06:08 AM   #14
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Just checked mine, couple of months ago was showing 21k ish, now 25k! Crazy times.
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      06-23-2021, 06:43 AM   #15
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plus its inflation in general. Real terms inflation has hit 20% this year....
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      06-23-2021, 07:00 AM   #16
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Quote:
Originally Posted by Bars111 View Post
plus its inflation in general. Real terms inflation has hit 20% this year....
Interesting stat. You are clearly not talking CPI, or RPI, or wage inflation. Is that a special inflation figure that is hidden away and only shown to certain people in the inner sanctum?
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      06-23-2021, 07:21 AM   #17
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WBAC currently offering me £25,180 for my F36 440i. December 2017 with 16k miles.

I also have about 4/5 people offered to buy my car when I sell, so could probably get an extra couple of K on top of that lol.
Im not planning on selling though, although its very tempting.
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      06-23-2021, 07:26 AM   #18
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Quote:
Originally Posted by isleaiw1 View Post
Interesting stat. You are clearly not talking CPI, or RPI, or wage inflation. Is that a special inflation figure that is hidden away and only shown to certain people in the inner sanctum?
there's a difference on what's on paper vs what happens in practice.
I'm not talking consumer price inflation or or retail price index.

cost of big ticket purchases are going up
-housing
-cars
-holidays (once some stability returns)
-supermarket shopping (BOGOF deals etc much less prominent)

wages certainly aren't increasing in line with this.

real effects are starting to creep through but will only really be felt from the tail end of this year. Lets revisit this topic next year.

Last edited by MY340i; 06-23-2021 at 07:37 AM..
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      06-23-2021, 07:26 AM   #19
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Quote:
Originally Posted by Abrek View Post
It's now on sale at £27,500 for 3 and a half year old 435d, considering I paid £38,000 with zero % finance, it doesn't feel like good buy
This is consistent for what I've seen, markup at roughly 10%, I believe it used to be double this!!!
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      06-23-2021, 07:32 AM   #20
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Quote:
Originally Posted by isleaiw1 View Post
Quote:
Originally Posted by Bars111 View Post
plus its inflation in general. Real terms inflation has hit 20% this year....
Interesting stat. You are clearly not talking CPI, or RPI, or wage inflation. Is that a special inflation figure that is hidden away and only shown to certain people in the inner sanctum?
I do see the point that was being made, though, to be fair… The cost of living is escalating pretty quickly… my supermarket shop seems to get more expensive… petrol is up 10/15% or so in the year… house prices are crazy… s/h car prices are crazy… and folk are not earning significantly more, so buying power is less…

Now, how that reflects in official measures is another matter…
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      06-23-2021, 07:32 AM   #21
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Quote:
Originally Posted by Abrek View Post
What's going on with used car prices??? Enquired back in March to trade in my 2018 435d only to be told I don't have any equity in it at £20,500. Last week BMW York sent email asking if I would like to sell my car, decided to inquire and they offered £25,000 straight away (WBAC offered £24,000). With only £19,500 outstanding on finance I just bit their hand and traded in on Sunday and ordered Tesla Model 3 LR, a bit of no brainier if you live in Scotland as you get interest free loan from Scottish government to buy EV plus additional £250 to install charging point on top of £350 from UK government. Delivery due in august, hopefully won't regret…
A wise move if you are going for 'Discount Free' cars like Tesla, Porsche etc but there is little point in selling mainstream stuff for bloated used prices if there is no discount on the replacement which would have historically been available.
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      06-23-2021, 07:33 AM   #22
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Quote:
Originally Posted by Sennen View Post
Quote:
Originally Posted by Abrek View Post
What's going on with used car prices??? Enquired back in March to trade in my 2018 435d only to be told I don't have any equity in it at £20,500. Last week BMW York sent email asking if I would like to sell my car, decided to inquire and they offered £25,000 straight away (WBAC offered £24,000). With only £19,500 outstanding on finance I just bit their hand and traded in on Sunday and ordered Tesla Model 3 LR, a bit of no brainier if you live in Scotland as you get interest free loan from Scottish government to buy EV plus additional £250 to install charging point on top of £350 from UK government. Delivery due in august, hopefully won't regret…
A wise move if you are going for 'Discount Free' cars like Tesla, Porsche etc but there is little point in selling mainstream stuff for bloated used prices if there is no discount on the replacement which would have historically been available.
Indeed… "Price to change" as Quentin Wilson always used to go on about…
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