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Used Car Prices Going Up

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Bbc news this morning saying used car prices up due to lack of supply in the market. I think I am going to buy 2 and lease one out as a pension...what could go wrong?!

Better get in now before you miss the boat!

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Bbc news this morning saying used car prices up due to lack of supply in the market. I think I am going to buy 2 and lease one out as a pension...what could go wrong?!

Better get in now before you miss the boat!

yeah.. . I said I heard this on the bbc.

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Mandelslime's meddling forces secondhand car prices up by between 25-30%!!

That should be a vote winner for his core support hardly working families...........

http://news.bbc.co.uk/1/hi/business/8251920.stm

Mike Hind from CAP Motor Research Ltd told the BBC: "What usually happens in the second-hand car market is a steady depreciation.

"But this year we have seen the complete reversal of that, with used-car prices rising on a month-by-month basis by about 3.5% which is translating into really big rises in the values of used cars."

Mr Hind added: "The high values are good news if you want to sell your car but not so great for second hand dealers or anyone trying to pick up a bargain."

Tim Naylor, from British Car Auctions, told the BBC the price rises he has seen in 2009 have been "completely unprecedented".

He said: "Prices have gone up between 25 and 30% depending on the car.

Labour price fixing. Same old..........

Edited by Red Karma

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It looks like a bubble, which will probably burst when new car production picks up and the scrappage scheme ends. The scrappage scheme has increased demand for new cars.

Does the scrappage scheme require you to keep the new car for a period, or can you sell it on as soon as you've bought it? If so, you'd probably be able to make a quick profit.

What surprised me is that Quentin Willson quoted a secondhand V8 petrol Range Rover he knew of going up in value from being unsaleable at £15,000 in January to being worth £25,000 now. He admitted being very surprised by the surge in secondhand prices.

Edited by blankster

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It looks like a bubble, which will probably burst when new car production picks up and the scrappage scheme ends. The scrappage scheme has increased demand for new cars.

Does the scrappage scheme require you to keep the new car for a period, or can you sell it on as soon as you've bought it? If so, you'd probably be able to make a quick profit.

What surprised me is that Quentin Willson quoted a secondhand V8 petrol Range Rover he knew of going up in value from being unsaleable at �15,000 in January to being worth �25,000 now. He admitted being very surprised by the surge in secondhand prices.

The scrappage scheme can never end, it must go on and on.

Next move is include cars up to seven years old ........and then three.

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It looks like a bubble, which will probably burst when new car production picks up and the scrappage scheme ends. The scrappage scheme has increased demand for new cars.

Does the scrappage scheme require you to keep the new car for a period, or can you sell it on as soon as you've bought it? If so, you'd probably be able to make a quick profit.

What surprised me is that Quentin Willson quoted a secondhand V8 petrol Range Rover he knew of going up in value from being unsaleable at �15,000 in January to being worth �25,000 now. He admitted being very surprised by the surge in secondhand prices.

Yep, that's what I think as well. I was flicking through Auto Trader in a supermarket last week thinking the prices look very much like a bubble. I was looking at exactly the vehicle you quote, big petrol Range Rovers that no-one wanted now seem to be a year older but extraordinarily doubled in price.

Wonder if there's a cash-in-hand effect with second-hand. If you're a self-employed builder, or similar, second-hand dealer is more likely to take your wedge no questions asked.

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It's interesting because the AA said " * A quarter of commuters who have lost jobs did so in the last year, contributing to a 15% fall in rush hour congestion

* 20% of commuters said hard times made them work from home to save on travel costs

* 14% opted for public transport and 12% shared cars to save money.

Georgina Read, of Trafficmaster, said: "We've been collecting analysing data for the past 20 years, with all previous years showing the congestion problem growing.

"However, post-credit crunch, the trend has been well and truly broken and we've now witnessed two consecutive years of dramatically falling congestion levels.""

http://news.bbc.co.uk/1/hi/uk/8240510.stm

It doesn't look good for this bubble! Maybe we'll see a load of extra supply in 18mths as governmenrt ramp up taxes, and cut spending.

On ch4 news last week they suggested a future government could sell off the roads!

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I work with some polish guys and between them they have sent 3 vehicles back to poland, they like french and 4x4s vehicles.

They say poles working on the continent getting paid in euros seem to buy quite a few of them.

some must also be going to south asia and africa.

Edited by ajay

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