Good evening FullFatters. Hope you are all well.

Would like some more opinions on the second hand market please.

With everything that's going on with the economy, do you think that used prices will start to drop??

Have been holding off for a 5.0 Supercharged to see what happens.

All thoughts will be gratefully received.

 Range Rover 2002 P38 4.6 Vogue
Range Rover 4.4 Vogue. Black
Range Rover 4.4 Vogue. Giverney Green
Mercedes S600L
Mercedes SL500 AMG
Mercedes E220 Estate Night Edition
Mulsanne

Having been watching the prices for a while now, I’ve seen a slight softening but it’s still got a long way to go to reach what we could regard as “back to normal”. Got - 2017 SDV8 Autobiography in Loire Blue
Had- 2008 TDV8 Vogue SE in Java black
Had - 2007 S/C in Stornoway Grey

I’m after a facelift 405 but I’m waiting to see what happens to prices. I could get a brand new X5 40d fully loaded with every option for the price of a second hand 405 at the moment. Christian.


Current Cars
2011 Range Rover Vogue SE
2020 BMW M4 Competition
2019 BMW X4

My RR Blog: www.facebook.com/L322Project
or
https://www.fullfatrr.com/forum/topic61540.html

In the same boat . We’ve all seen the incredible boost to 2nd hand values over the last 2 years . I’ve talked with loads of dealers and economists recently and they’d both have you believe different stories . At the end of the day only the market will decide the outcome. Personally, I have my fingers crossed for a big drop by the end of the year, only time shall tell. However based on feedback from financiers in the automotive industry , they have had bumper months for quite some time..

While there is a chip shortage 2nd hand price will remain high in my view 2018 SE SDV8 4.4 Byron Blue

No likley change anytime soon due to ongoing chip shortages as mentioned plus other factors like a lot of spare cash in the hands of certain buyers from savings made during lockdown. It may well be that prices simply do not drop back to 'normal' and the best to be expected is that they may stay level. 2012 TDV8 Vogue (L322)

I look at Full Fats daily on autotrader and think prices have softened a tiny bit in the last few weeks.

What I have noticed is that quite a few haven’t sold for a month or 2. I don’t enquire to see if they are still available as they might have sold but haven’t been removed by the garage because they are still getting their business advertised.

What hasn’t changed in my experience is the PX price still allows the dealers to factor in very large profit margins

As soon as chip shortages ease and new car delivery time drop then so will second hand prices. Gone to a good home: 2011 4.4 TDV8 Vogue SE Buckingham Blue with Ivory and clear glass = "Rory"
2025MY Defender D350 90 in Silicon Silver on coils
1974 Series 3 Lightweight = "Millie"
Many, many other Landies over the years
My preferred specialist: www.glenrands.co.uk
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I sold a car last September for £33k on WBAC, it should have been around 19-21K in the real world. I have just checked and it would be £29k now. So way more than it should be worth but softening a little from the peak.

My RR has dropped from a peak of 45k to £40k over the last 6 months and my BMW M3 is fairly static.

Don't know if any of that helps?

BMW & Mercedes’ (possibly Audi) said , coming out of the chip shortage, they intended to manage the supply of the top end cars to maintain price levels and avoid discounting.
IMHO that’s the only reason JLR has stuck a price tag of 125k on its new offering. Maintaining a high price level for their top end. On that basis second hand cars should hold up.
Of course there will be a moment, when all of the first new FFRR orders are being delivered , and there should be a mini flood of full fats on the market…. Will there be enough demand to soak them up? … I suspect it will come and go fairly swiftly with second hand prices firming again. At least a choice. Filters are in fact so good that in certain circumstances, when the ambient air is already polluted, a diesel car will tend to extract more particles from the air than it emits. Emissions Analytics worked with........etc etc

He who dies with the most toys wins...

God love those manufactures who think they can dictate to the market on how prices will hold up, I think that tactic could be very short lived. Got - 2017 SDV8 Autobiography in Loire Blue
Had- 2008 TDV8 Vogue SE in Java black
Had - 2007 S/C in Stornoway Grey

New car prices as with most things are not based on the cost of manufacturing + a % profit but on what the market will take. 2012 TDV8 Vogue (L322)

SS.Lyria wrote:

I look at Full Fats daily on autotrader and think prices have softened a tiny bit in the last few weeks.

What I have noticed is that quite a few haven’t sold for a month or 2. I don’t enquire to see if they are still available as they might have sold but haven’t been removed by the garage because they are still getting their business advertised.

What hasn’t changed in my experience is the PX price still allows the dealers to factor in very large profit margins

I think price will be a deciding factor on some of the examples for sale. Over £20k for a 10 year old Full Fat that’s expensive to run, tax and insure.Most have covered nearly 100k miles. Factor in Land Rovers legendary history of reliability and I can see why some people would be hesitant.

If things get back to normal sooner rather than later, these 10 year old examples could soon be worth a lot less. Depreciation should be one of the least concerns on cars over 10 years old.

I understand the business model, but I contacted a dealer about a 2017 L405 they had for sale, he offered me £28k on mine in PX, whilst having one very similar to mine on his forecourt for £42k
Not exactly the sort of deal to encourage my business.

But supply and demand will always dictate price. I don’t mind warm fingers just not so keen on scorched

Hi,

I think prices have already fallen ,
well the price you get for p/ex or wbac has but the prices being asked have not dropped by the same amount as dealers have the cars sat on the forecourts at the premium price they paid for them,
the asking price you see but not what they sell for and as already said cars are sitting longer
if your p/ex used for used your in the same market so its price to change
if your a straight buyer I would wait longer or offer at a more realistic price