Used car prices

[Yellow_Festiva]

Geeze this is a joke....

Did some searches and most new additions I saved to car sales would promptly get a price increase within days. Lots of adds say fixed price etc.

15 year old small cars starting at around $4k... Anything decent is $6-7k.

Honda Jazz and Mitsibishi Colts asking decent coin....

Search for vans and utes NSW, Auto under 150k km 2001+

Utes!! Beat up 04 Mazda Bravo $7k... 04 Rodeo $10K, 09 Colorado $12k, 05 BA Ute $12.5k!!!

Vans - 14 Kangaoo thing $15k, 08 Transporter $15.6k, 08 Caddy $17k!!

I remember a time you can get a decent 15 year old ute or van for $4-6k... now nothing.

I wonder... are we going to see a flood of these same cars on the market in a year when borders open and people resume overseas travel?

[Stubbie]

I've been looking at an MGF or an Alfa 916 Spider for the last 2 years or so. 8 months ago there was a reasonable MGF for sale in a car yard with a starting price of $5950, ended up selling for $3450. I went to look at it a second time 3 months later but it sold the day before I got there. They couldn't sell it at $5950. Now you can only buy them for less than $6k needing work. The Alfa 916 Spider you could get a really good 2Ltr for around $5 to $6K now around $12k and the 6 cylinder model 6 months ago was $15 now $25 to $30K.

[naddis01]

The only thing I have found where the price hasn't increased from last year is a Jeep Gladiator.

[Dr Smith]

At this rate my trade-in for the as yet to be built Escape on order will sell for more than the new car...so maybe it's good it has been delayed.

[au2000]

tbh i dont think prices will drop by much if at all. If you have spare cash atm & some do, you get sweet all from the banks for it so some are thinking well, put it into property or cars...
as for the daily run about it seems more are now willing to pay for a currently available good 2nd hand car compared to waiting on a new delayed model.
TBH if i was looking at a new car & had to wait 6 months for it would i? probably not as id fear paying for the current model but picking it up when the updated model arrives so to speak.

[Yellow_Festiva]

I'm wondering what actually caused the price surge?

At the bargain end of the market you would assume it was people wanting a runabout to avoid public transport.

But the surge is across all segments??

Doubt it was a supply issue of new stuff?

Most are far from collectable or rare??

I think once things go back to normal (we can travel and everyone is back to work etc) I'm thinking there will be a bigger flood of people wanting to offload these same cars at much cheaper prices.

[nstg8a]

I think the last 12-18 months have been the perfect storm for second hand car prices.

You have covid, which has one on hand thrown a heap of unexpected cash into some people’s accounts, and on the other hand 400,000 ex pats came home, most of which probably needed a car or two... then there’s the supply issues facing new cars which meant long wait times so people either hung onto their trade in for longer or bought something second hand but newer instead of waiting 7-8 months for a new car.

Couple that with the effects of no local production really hitting the market, you see the effect on the market of being no cheap large cars any more. No 30-35k falcons or commodores... now we have corollas that are over 40k, average price of a Thai “ute” is probably close to 60k than 40k..
even shoddy Chinese imports are gaining acceptance, because of the high price of the alternatives.

I don’t think prices will drop either, buy now or pay more later.


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[Sprintey]

Originally Posted by nstg8a

I think the last 12-18 months have been the perfect storm for second hand car prices.

You have covid, which has one on hand thrown a heap of unexpected cash into some people’s accounts, and on the other hand 400,000 ex pats came home, most of which probably needed a car or two... then there’s the supply issues facing new cars which meant long wait times so people either hung onto their trade in for longer or bought something second hand but newer instead of waiting 7-8 months for a new car.

Couple that with the effects of no local production really hitting the market, you see the effect on the market of being no cheap large cars any more. No 30-35k falcons or commodores... now we have corollas that are over 40k, average price of a Thai “ute” is probably close to 60k than 40k..
even shoddy Chinese imports are gaining acceptance, because of the high price of the alternatives.

I don’t think prices will drop either, buy now or pay more later.


Sent from my iPhone using Tapatalk

Spot on and very interesting the number of people coming back, have been trying to work out the actual number (hard) but it's pretty big. They have to live somewhere/buy something to run around in

Edit: in light of those new car prices, the base Outback at 41K really shows that Suby is serious about selling a few of them. So much more car for the money compared to the 40K Corolla or 35K Yaris. Have checked out new model and like it.

Originally Posted by Yellow_Festiva

I'm wondering what actually caused the price surge?

At the bargain end of the market you would assume it was people wanting a runabout to avoid public transport.

But the surge is across all segments??

Doubt it was a supply issue of new stuff?

Most are far from collectable or rare??

I think once things go back to normal (we can travel and everyone is back to work etc) I'm thinking there will be a bigger flood of people wanting to offload these same cars at much cheaper prices.

Could be supply of new stuff - take this with the internet grain of salt, but little birds known to our fam have suggested shortages of new stock until mid year

This would cause a shortfall of stuff to sell, which would ripple through the used market and then cause the used car price chaos we have seen

[anobserver]

Originally Posted by Sprintey

Edit: in light of those new car prices, the base Outback at 41K really shows that Suby is serious about selling a few of them. So much more car for the money compared to the 40K Corolla or 35K Yaris. Have checked out new model and like it.

Could be supply of new stuff - take this with the internet grain of salt, but little birds known to our fam have suggested shortages of new stock until mid year

This would cause a shortfall of stuff to sell, which would ripple through the used market and then cause the used car price chaos we have seen

Drove a new outback work car the other day. Not even 3000ks on it and certainly pleasant, though i did turn off lane assist. Thats a disconcerting feeling.

Disappointing then, that the outback has fallen off our fleet car list and is no longer available. But thats not the worst news ....apparently every car has a wait list up to six months!!

I seriously wanted to sell both of my cars because of the Covid Tax.


But i decided keeping them was a better option...


To each his/her own i guess

[.:4:.]

I bought my brother an au ute on monday. He wanted an xg or xh, but theyre thin on the ground and people are asking absolute drug money for stupid high kays raging peices of crap. So the au was bought thinking it was a series 2, or thats what the seller said. The original sales docket was in the glove box, its build date is 2002 and its a series 3. So lucked out on that. Its only done 207k which isnt bad for a car of that age. Its in good nick, has a month old receipt for $1700 of seals and gaskets for the motor, and it was unreg but the seller got it roadworthied and registered, so whilst interstate rego means nothing as its needs a blue slip etc in nsw, i paid 3500 for it. Other adds for au's, again people were asking drug money for high kay buckets. But this one is a manual, and whilst manuals are an ancient art, the odd few who want them (P platers wanting to be drift kings) this thing could probably be sold for more then its purchase price.

[Citroënbender]

Just reflecting on flooding currently around in NSW, will this result in another slight shortage of used cars, pushing up price?

[Falcon SXR8]

Originally Posted by Citroënbender

Just reflecting on flooding currently around in NSW, will this result in another slight shortage of used cars, pushing up price?

Doubt it, more like a sudden rise in good quality definitely never been flooded second hand cars hitting the market..........

[Citroënbender]

Originally Posted by Falcon SXR8

Doubt it, more like a sudden rise in good quality definitely never been flooded second hand cars hitting the market..........

Shame the number plate has been piscelated…

[Franco Cozzo]

LV Focus XR5 values are abnormally high, even pre COVID they were still holding better resale value than Fiesta ST for example.

Wonder if it's because the unique Volvo 5 cylinder engine is a bit special compared to run of the mill 4 cylinder engines.

[Sprintey]

Originally Posted by Falcon SXR8

Doubt it, more like a sudden rise in good quality definitely never been flooded second hand cars hitting the market..........

Come in today for our Hydrologically-Challenged Mega Sale!

[Yellow_Festiva]

Things may be starting to change.

I'm getting a few 'price reduction' notifications from my saved list on carsales.

[DJM83]

Not seen many if any 300fwkw 5 cylinder turbos.

I think the bigger issue is split liners in these engines.

Mine was modded but not heavily and was circa 170fwkw (front wheel kW)

[hayseed]

I reckon Rockwiz has snavelled that Panno Up...!!

[roKWiz]

Originally Posted by hayseed

I reckon Rockwiz has snavelled that Panno Up...!!

Nah not for me, ECM controlled.

[Citroënbender]

Prices continue to soften. Territories are returning to prices on par with last Autumn.

[fordomatic]

Originally Posted by Citroënbender

Prices continue to soften. Territories are returning to prices on par with last Autumn.

Perfect timing too, I’m looking for a clean SYii

[prydey]

Originally Posted by Citroënbender

Prices continue to soften. Territories are returning to prices on par with last Autumn.

The higher demand categories are still high, esp where availability of new replacement options is scarce.

[Sprintey]

Originally Posted by Citroënbender

Prices continue to soften. Territories are returning to prices on par with last Autumn.

Originally Posted by fordomatic

Perfect timing too, I’m looking for a clean SYii

Yep Fordomatic, you're looking in the sweet spot. A lot of car for not much coin - and damn reliable too, if you forgive the suspension occasionally.

[.:4:.]

A week ago heres me complaining about high kays xh utes that are roached going for silly $. Not 40k, but in the 7k realm. Hence why i bought the au. But due to the floods and hence flooded out cars, i reckon due to tradies needing comercial vehicles for their lively hoods and needing comercial vehicles sooner rather then later, second hand comercial vehicle prices i reckon will go up. Or at least not go down. And due to lead time for insurance payouts etc, the cheap and cheerful for the time being sort of utes and such will be a sellers dream.

[FPV414]

Surely that XH didn't get anywhere near $40k lol. My goodness.

I am hazarding a guess with some of the 3999 cars that there would be some production defect in paint or panel, or interior items, that wouldn't pass PD. So, Ford took those cars for themselves, as when it came to second hand sale it wouldn't be questioned. I currently have a 2014 FG Mk2, which has a chemical reaction under the paint on RHR door. I reckon this is the reason it was a 3999 car.

[SSVPom]

The XH panno didn’t go for 39, but a few K lower..... still a huge amount in my opinion, however where are you going to find another. I know someone who knows someone, so my source is accurate.

XH’s (like everything) are only going up in value; snap good ones up when you can I say! I’ll have my XH2 S pack V8 on the road soon.. can’t wait.

[Citroënbender]

The fringe markets continue to soften, good choice of G220 Fairlanes at present, some project ZL (ish) cars at much saner prices and even a ZD that could scrub up in the right hands.

Think that searching the more stale adverts from Penrith through East Richmond in NSW might now turn up a few “projects” with some drying-out to be done. There are more and newer completely uninsured cars in the Sydney basin than many realise, happy pickings for people with time and coin.

[BossRoss315]

Hey All

Just reigniting this thread. I have purchased 2 vehicles over the last 3 months, 135000km 2012 Nissan Navara and a 2003 BA XR8, with the falcon only weeks ago.

Used Car prices are up from when I bought the Nissan, and the question is, have we hit the plateau? I'd really like to see the final sell price as opposed to the advertised prices, but if you take it at face value, any ford or holden v8 has increased in value...now whether this is sutainable? I think the jury's still out on this.

P/S - love my BA as the daily

[hayseed]

https://www.facebook.com/SpackmanMot...22505191259805