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My A6 PCP finishes end of March, currently I can sell it for £5-6k more than the min guarranteed value. It’s being replaced by an EV leased through work - already in motion.
Are these prices staying for a while or should I cash in now?
I'd cash in now seeing as the lease is arriving. It's madness for nearly new cars at present.
Older car's prices ain't too bad. Just picked up a 60 plate Aygo for daughter to learn in and bail out my son whilst his car is broken. Only £2k and 97k miles, although same cars, same dealer, but less miles were another £1k - the body work wasn't as good on these either.
So to pay off my pcp, I need to pay the final 3 months payments, and the balloon?
If I wait 3 months, it’s just the balloon, so will the value drop £1100 in the next 3 months? (A6 estate, 2018, balloon £11.5k, valuations currently £16-18k
How certain is the date for the new car? Any doubt and worth hanging on. I doubt prices will change drastically in 3 months.
Premium used car prices are currently 25% above normal, due to the lack of new cars immediately available. Hopefully that lasts (selfishly for me at least!) but it isn’t sustainable really.
How certain is the date for the new car? Any doubt and worth hanging on. I doubt prices will change drastically in 3 months.
Or chop it now and if necessary pick up a £1500 runaround to cover the gap that'll be worth £1450 a month or two later.
Is delivery of your new car nailed on? I've an Octavia ordered beginning of June and it's been put back twice to next Feb and that's the very earliest
New car prices will slowly drop as stock returns but it’s not going to be a clif edge drop
Lists of new cars are quoting late q3 or q4 for new order delivery’s. Whilst supply is limited that will keep up prices.
Prices have already dropped 10-15% since the heady heights in October!
Personally, I'd stick until spring when prices are likely to go up again (traditionally car prices go down for winter anyway and go back up in spring) in the spring... I missed the timing by a week or so on my car, could have sold it for £4k more than I bought it for back in October, now I'd probably get my money back... Waiting til spring when it'll likely have gone up again.
Looking on Autotrader the availability of cars is increasing month on month. They estimate the market is going to get back to normal sometime early 2022.
This taken from Volkswizard
Autotrader now on 428,000 cars which is not a shortage, we were sub 400k a few weeks ago and on 413k just 2 weeks ago. 14,830 cars ready to be pumped into the market by BCA too. Retail demand has dropped off a cliff so wonder which way this will go?
Based on the fact that I'm shit where timing & money are concerned & I've just bought a car... I'd say we're about a week past the peak 🤣
Friendly dealer I Know reckons we're just past peak. I've just sold my car last week > original price paid so 18 months of motoring for a few K profit. Don't need it anyway.