To tell you if you want to sell your car....

[ByHook0rByCrook]

Do it sooner rather than later.

I work in the automotive retail industry, but not sales. Since Covid and lockdowns, and the loss of HGV drivers due to Brexit, the manufacturing supply chain for cars has been hit hard. This means new cars are taking months rather than weeks to get into the country or be delivered to dealerships, which has put more pressure on the used car market.

As a result, the price of used cars has skyrocketed. I recently sold my car for a bit less than 1k for what it was bought for – but that was 2.5 years ago and 20k miles less.

My used car barely changed in value.

That is INSANE when you know that the profit margin for used car sales is razor thin - £500 max profit for each used car sold. This is because they need to be cleaned, detailed, and checked before they even get on the shop floor, then of course the salesperson gets commission.

If you have a used car to get rid of, sell it sooner rather than later.

If you are in the market to buy, WAIT. The bubble will burst soon, as supply chains get re-established. By the end of the summer, used car prices will go down, I reckon. (I have no financial incentive to share this, just wanted to help anyone during this time of crazy car prices)

We buy any car is currently offering £4000+ for my parents 11yo Ford Focus!!

It's madness. We were looking for a first car for DS thinking something 5yo would be affordable. For now he's using mine.

I checked the value of my car that I bought 13 months ago. It’s worth 23k now and I paid £22k! Crazy!

@PurpleFlower1983

I checked the value of my car that I bought 13 months ago. It’s worth 23k now and I paid £22k! Crazy!

Not surprised at all!

@DetailMouse

We buy any car is currently offering £4000+ for my parents 11yo Ford Focus!!

It's madness. We were looking for a first car for DS thinking something 5yo would be affordable. For now he's using mine.

It's madness. My colleagues (ex sales) were flabbergasted over my recent sale.

Our car seems to have gained 4000 in 15 months , it’s madness

We have a Volvo v40 which apparently are desirable as Volvo no longer make a 'hatchback' and used prices are high. What's the best way of selling? Auto trader?

we buy any car will knock at least 30% off their offer when you take it in

@courgettigreensadwater

We have a Volvo v40 which apparently are desirable as Volvo no longer make a 'hatchback' and used prices are high. What's the best way of selling? Auto trader?

I used Motorway, and was really happy with them. CarStore or webuyanycar? It's the one and only time I've sold a car online without trading in for another so I don't know what those places are like.

I've been offered nearly double what I paid for my 11 plate, thought they'd drop the offer when it was appraised but they were prepared to honour it. I opted out in the end as I thought what's the point, I'll get more but I'll also pay more for something else!

That’s interesting. What if you want to sell your old one and buy a brand new one?

@Pandai

I've been offered nearly double what I paid for my 11 plate, thought they'd drop the offer when it was appraised but they were prepared to honour it. I opted out in the end as I thought what's the point, I'll get more but I'll also pay more for something else!

Yes, true, its really only useful if you are downsizing to be a single car family or something.

@Doanythingforlove

That’s interesting. What if you want to sell your old one and buy a brand new one?

Be prepared to wait several months for the new car, essentially.

@Doodar

we buy any car will knock at least 30% off their offer when you take it in

Not true - sold 3 cars to then and received the quoted price each and every time. They also paid more than the dealerships were offering as part exchange value.

F

I recently sold my 10 year old, 190k miles on the clock, not cost efficient to repair (failed MOT) Volvo to webuyanycar for over £4k. Utter madness.

Oh, and they quoted me £4300, and ended up offering me £4100 (having no doubt knocked a bit off for the chipped windscreen and cracked wing mirror casing). I couldn’t sign fast enough.

Thank you this is really helpful.

I want to sell my old car and buy a newer used car. Is it still likely to be worth waiting?

I'd be selling a 9yo Audi which needs some work (only 40k on the clock, but falling apart) and buying a 3yo or maybe a new electric. I dont really have the cash to change right now.

@Jellycatrabbit

Thank you this is really helpful.

I want to sell my old car and buy a newer used car. Is it still likely to be worth waiting?

I'd be selling a 9yo Audi which needs some work (only 40k on the clock, but falling apart) and buying a 3yo or maybe a new electric. I dont really have the cash to change right now.

It's worth speaking to your chosen dealership for options - often trade in value can be higher than selling for cash, but not always. Good luck.

@ElfDragon

I recently sold my 10 year old, 190k miles on the clock, not cost efficient to repair (failed MOT) Volvo to webuyanycar for over £4k. Utter madness.

Oh, and they quoted me £4300, and ended up offering me £4100 (having no doubt knocked a bit off for the chipped windscreen and cracked wing mirror casing). I couldn’t sign fast enough.

Wild isn't it!!

Thanks Byhookorbycrook

I bet electric cars are worth a fair bit too, right now.

We ordered a new car at the start of the month and was told it would arrive in April/May. It’s now in production and will arrive in March. Apparent lots of corporate cars are being cancelled which is bringing dates forward.

@ByHook0rByCrook thanks. That's really helpful.

Oh that's interesting. I wonder if wfh has changed the purchase patterns corporate fleets, I'll have to find out.

But if I sell my car, I'll have to buy another one and I've heard that they're really pricey at the moment.

Does anyone know the best way of selling a car that is uninsured and SORNd? It’s in good nick and currently sitting on a driveway. I can’t drive it anywhere because of the absence of insurance/tax.