Leaderboard

It’s got to crash at some point, there’s going to come a time when joe public are simply going to find it cheaper to keep their current car running than pay these stupidly inflated prices of recent times. As already said it’s only due to supply and demand at the min, no other reason. As soon as new car production it back up to speed and new sales are back up used stock will be fed back onto the market and the prices will come down. This is why I’m being very careful with what I buy at the min. It’s feels very much like dealing with stocks and shares.

Online I see what I’d consider to be scrap (or at least I’d offer £150-200 scrap money as a p/x) making £500 on the hammer. What the fuck they do with it once the AH fees are added & the MOT tester has cast his eye over it I’ll never know. Half-decent £3-5K cars (trade money) all seem to be about £1000 (give or take) into book at the moment. I’ve never prayed for shitty old trade-ins as much as I have recently

I think you need to take some legal advice on your obligations as a motor trader

I think that time is now (at least in the sub £5K market). Punters are buying because they HAVE to (their car’s fucked, written-off or the MOT tester has condemned it). It seems to me that EVERYONE knows secondhand prices are up & at the lower levels a man with £2-3K in his pocket soon realises that he’s now in the position of looking at cars that would have been £1-2K pre-Covid. Every week I get punters on the phone thinking they’ve got the whip hand, I pity them if they get the same response elsewhere as they get here. Ultimately it’s a market & the market determines prices.

I may be wrong, but we are heading to a winter of discontent: - Energy prices rising - Shortage of CO2 - Wage inflation - Shortage of goods (empty shelves) - long NHS waiting lists - Possible re intro of lockdown All the above likely to affect used car prices negatively IMHO.

No legal requirement for any warranty to be given but the consumer has rights on any car bought from a dealer. Understanding the CRA2015 is one of the many things we need to know in this job. It protects the customer but also us sellers so get your head round it. In my opinion selling cheap px cars through your business is just a headache. The article below gives a good summary and should answer your questions. https://www.thecarexpert.co.uk/rejecting-a-car/