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Thread: Cars are going to be the next bubble

  1. #51

    Re: Cars are going to be the next bubble

    Quote Originally Posted by WJ99mobile View Post
    I’ve been forced by my firm to sell my car and buy a newer one.

    I have been looking at relatively new second hand cars but the depreciation on them is often the same if not more than I can get a brand new lease for.

    For example I looked at a 1-2 year old golf that I anticipate the depreciation to be circa £130 a month if bought from a dealer. For the similar price I can lease a brand new good specced Kia for 2 years, wear and tear costs and very minimal service costs.

    Cars have never in my opinion been cheaper and when you can buy preregistered cars for circa 40% of the RRP, surely this is undermining the used car market.

    I don’t know what the outcome will be, but something surely will give?
    As to people spending too much of their money on leasing fancy cars, I think it might lead more people into financial difficulties in the future, and could cause a bit of a bubble?

    A lot of young pwople complain that they can't get on the housing ladder but they lease two new Mercedes?

  2. #52

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Allez Allez Allez View Post
    If you lease a car then be prepared to lease cars for the rest of your life.

    I buy a car from new, keep it for 12 years and have 9 years of not having to pay any loan fees or anything else. Never understand why people change perfectly good cars just because they are a bit old, or have as many as 40,000 miles on the clock. My Golf, bought in 2006. 14 years old, 178,000 on the clock. I finished paying for it in 2009. Yes, it is starting to rattle, yes it has knocks and dents, but it gets me from a to b. Drove around Europe in it last August.
    Spot on

  3. #53

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Bluebina View Post
    I think that may be down to the Golf being a more saught after car, and that Kia are undercutting the big German car prices?

    Some people would prefer a two year old BMW to a new Kia for the same costs?
    sought after lol

  4. #54

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Bluebina View Post
    sought after lol
    I know.......... Golfs are very poor value for money .

    Sought after

  5. #55

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Allez Allez Allez View Post
    When should I have changed my car then? Just after I finished paying for it? When it got to 100,000 miles? When it passed yet another MOT without even an advisory? What is it about my car that means I have kept it for too long?

    People are being duped to stay in perpetual debt to finance companies purely to keep the car industry alive. More fool them.
    Perhaps I could have left the "like you" bit out.

    It works for you and thats great, it wont always , unfortunately.

    You have kept it too long when it fails and you spend a a fair bit getting it fixed and try to recoup that money and it fails again.
    It isnt duping anyone , its a fact it happens .
    I would hate everyone to go contract hire . There would be no market for my used contract hire vehicles ....

  6. #56

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Bobby Dandruff View Post
    Do ANY cars increase in value though, bar very high end classics like the Porsche Carrera GT, McClaren F1, Miura etc ? ��*♂️
    older classic cars .

    My 1990 mini cooper has increased in value from 3k to around 10k . It is a little special though.

  7. #57

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Jimmy the Jock View Post
    Perhaps I could have left the "like you" bit out.

    It works for you and thats great, it wont always , unfortunately.

    You have kept it too long when it fails and you spend a a fair bit getting it fixed and try to recoup that money and it fails again.
    It isnt duping anyone , its a fact it happens .
    I would hate everyone to go contract hire . There would be no market for my used contract hire vehicles ....
    What have you got for sale Jim?

  8. #58

    Re: Cars are going to be the next bubble

    Quote Originally Posted by valleys caveman View Post
    What have you got for sale Jim?
    2 year old Fiat Doblo.

    Got an automatic diesel 3 year old Kia Sportage coming in with around 30k on it next month.

    Are you looking for anything in particular?

    Have you still got your mini Gavin?

  9. #59

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Jimmy the Jock View Post
    2 year old Fiat Doblo.

    Got an automatic diesel 3 year old Kia Sportage coming in with around 30k on it next month.

    Are you looking for anything in particular?

    Have you still got your mini Gavin?
    I'm after a 5 series, manual, petrol for under 10k. Hard work finding one. Loads of diesels about, but no good to me with the DPF as I only do short journeys.
    Yeah still got the Mini, Jim. It's been parked up in the garage for 6 years. I keep saying I'll get it out and put an MOT on it every summer but never get round to it

  10. #60

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Jimmy the Jock View Post
    2 year old Fiat Doblo.

    Got an automatic diesel 3 year old Kia Sportage coming in with around 30k on it next month.

    Are you looking for anything in particular?

    Have you still got your mini Gavin?
    Jim PM me about the Kia if you don’t mind?

  11. #61
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    Re: Cars are going to be the next bubble

    Quote Originally Posted by Jimmy the Jock View Post
    Depends on your miles and spec .

    Somewhere between 100 and 140 a month .
    Carrying on with this Fred Jimmy, and with the government news today, I'll be getting myself a new motor when the reg changes in March, 2 x 22 mile journeys per day, Mon to Fri, use very little on weekends, is it time for Leccy, Hybrid ?, or possibly go back to diesel as we have another 15 years before the change, currently have petrol.

  12. #62

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Nelsonca61 View Post
    Carrying on with this Fred Jimmy, and with the government news today, I'll be getting myself a new motor when the reg changes in March, 2 x 22 mile journeys per day, Mon to Fri, use very little on weekends, is it time for Leccy, Hybrid ?, or possibly go back to diesel as we have another 15 years before the change, currently have petrol.
    Got a feeling it’s more of a PR stunt than anything.

  13. #63

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Jimmy the Jock View Post
    Perhaps I could have left the "like you" bit out.

    It works for you and thats great, it wont always , unfortunately.

    You have kept it too long when it fails and you spend a a fair bit getting it fixed and try to recoup that money and it fails again.
    It isnt duping anyone , its a fact it happens .
    I would hate everyone to go contract hire . There would be no market for my used contract hire vehicles ....
    Fair enough and the minute the car starts costing me money, regularly, or I jump into it in a morning with fingers crossed that it actually starts - that is when I will change it.

    My mileage is going down now, so the chances are my next car will be a used car rather than new.

    As for electric, I really want to go electric but it isn't quite there yet. £33,000 for a Kia something is the cheapest I can find. That is too much for a car - but the prices will drop by 2035. Either that, or the Government are going to face an almighty backlash in 2035 when a new £20,000 car is replaced by a £33,000 version that has a battery that will die in 7 years. I'm confident it won't be like that.

  14. #64

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Nelsonca61 View Post
    Carrying on with this Fred Jimmy, and with the government news today, I'll be getting myself a new motor when the reg changes in March, 2 x 22 mile journeys per day, Mon to Fri, use very little on weekends, is it time for Leccy, Hybrid ?, or possibly go back to diesel as we have another 15 years before the change, currently have petrol.
    Petrol in my opinion.

  15. #65

    Re: Cars are going to be the next bubble

    Quote Originally Posted by WJ99mobile View Post
    Got a feeling it’s more of a PR stunt than anything.
    Johnson won't be around in 2035. Some other Government will have to face the potential issues. I hope not though, it would be great if we were all driving affordable electric cars, with 400 mile range, and a battery that was still fairly effective 10-15 years after the car was bought.

  16. #66

    Re: Cars are going to be the next bubble

    https://www.bbc.co.uk/news/uk-englan...shire-56104281

    Called it.

    Longer lasting cars + cheap finance deals + working from home.

    Here comes an almighty bubble when no one buys for the next few years.

  17. #67

    Re: Cars are going to be the next bubble

    Quote Originally Posted by WJ99mobile View Post
    https://www.bbc.co.uk/news/uk-englan...shire-56104281

    Called it.

    Longer lasting cars + cheap finance deals + working from home.

    Here comes an almighty bubble when no one buys for the next few years.
    Surely a general tightening of belts in the last year has had an impact here though

  18. #68

    Re: Cars are going to be the next bubble

    Quote Originally Posted by NYCBlue View Post
    My Mrs dives a Kia. We lease it. Surprisingly nice car. Smooth ride, great handling and nice pick-up.
    The wife or the car?

  19. #69

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Eric the Half a Bee View Post
    Bubble cars might be the future.
    Ideal for away games.

  20. #70

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Taunton Blue Genie View Post
    The wife or the car?
    Oops. I was beaten to it.

  21. #71

    Re: Cars are going to be the next bubble

    Quote Originally Posted by WJ99mobile View Post
    https://www.bbc.co.uk/news/uk-englan...shire-56104281

    Called it.

    Longer lasting cars + cheap finance deals + working from home.

    Here comes an almighty bubble when no one buys for the next few years.
    Add in the tax benefits for new leccy cars, and it means buying second hand makes no sense when compared to electric. I'm getting a new, highly specced Audi etron- list is about £75k. Post tax, it is going to cost me about £380 a month, including insurance, servicing, unlimited mileage etc. If I were to take a second one, it would be close to free (bizarre interaction of income tax limits and childcare).Factor in depreciation and fuel cost and it works out cheaper than my crappy 14 year old X3 which I paid £7k for 3 years ago and is worth bugger-all now.

    And it gets a LOT cheaper on more standard family cars. an iD3 would cost me less than £200 a month; a Skoda Enyaq (which looks brilliant) about £250 a month. Once I got past the range anxiety thing, I'd be absolutely mental to take on a 2nd hand ICE car.

  22. #72

    Re: Cars are going to be the next bubble

    Quote Originally Posted by WJ99mobile View Post
    Got a feeling it’s more of a PR stunt than anything.
    Same as air source heat pumps. It's less than 3 yrs before gas CH is banned from new build. I hope the weather's going to get a lot warmer because folk will be freezing in winter. The only way to get even the best insulated home warm enough in winter is to combine the technology with under floor heating - or have radiators the width of one wall in each room. It's also only marginally cheaper than gas

  23. #73

    Re: Cars are going to be the next bubble

    Quote Originally Posted by WJ99mobile View Post
    https://www.bbc.co.uk/news/uk-englan...shire-56104281

    Called it.

    Longer lasting cars + cheap finance deals + working from home.

    Here comes an almighty bubble when no one buys for the next few years.
    People havent been able to travel to purchase cars .
    Plus they havent been able to use their own cars , I would suggest there are two good reasons cars havent been selling.
    When the roads are opened up I expect the used car market to perk up.
    I have got things for sale , plenty interest but no one wants to travel to see the cars.

    Used vans values are through the roof , most 3 year old vans are 2-3 k more than they should be .

  24. #74

    Re: Cars are going to be the next bubble

    Quote Originally Posted by Optimistic Nick View Post
    Add in the tax benefits for new leccy cars, and it means buying second hand makes no sense when compared to electric. I'm getting a new, highly specced Audi etron- list is about £75k. Post tax, it is going to cost me about £380 a month, including insurance, servicing, unlimited mileage etc. If I were to take a second one, it would be close to free (bizarre interaction of income tax limits and childcare).Factor in depreciation and fuel cost and it works out cheaper than my crappy 14 year old X3 which I paid £7k for 3 years ago and is worth bugger-all now.

    And it gets a LOT cheaper on more standard family cars. an iD3 would cost me less than £200 a month; a Skoda Enyaq (which looks brilliant) about £250 a month. Once I got past the range anxiety thing, I'd be absolutely mental to take on a 2nd hand ICE car.
    Is that on a contract hire Nick?
    The residuals on electric cars are high at the moment , that will change as they become more main stream.

    We are starting to see electric cars become available to the hire market . That will force residuals down.

    Funnily enough, just had a mailshot on the Audi etron . Was thinking maybe change my C63 for one . Maybe next year ..

  25. #75

    Re: Cars are going to be the next bubble

    Surprised about the lack of positivity about electric cars, I think they are amazing!

    Don't get me wrong, I can not afford one yet but it is still very early and the early signs look really promising!
    The price of batteries has fallen 88% in the last decade, and this trend is continuing.

    Battery's are proving to be much more robust than first feared, multiple cars have done over 500k millage on the original battery, and the general consensus seems battery quality is at a point where they will often out last the car and then be repurposed.

    In terms of raw materials for batteries, yes this is a issue but, once again all these metals and minerals or recyclable, oil is not.

    Electricity supply is not really a issue, Wind and solar is now cheaper! than traditional power stations, even without renewables it was still cleaner to burn coal to power electric cars, than it was to not burn any coal and continue using petrol/diesel.
    but we do not even have to make that trade off now with the huge continued increases of clean wind power.


    Finally it is so much cheaper to maintain for the consumer, a traditional engine / drive train has over 2,000 moving parts, a electric car has less than 20.
    Ask any engineer and anything that moves is doomed to fail at some point.
    General repairs will be much more rare on EV's. No turbos, no clutches, no gearbox's, no oil tanks, petrol tanks, fuel lines, oil filters, gaskets ect, ect.

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