We all know buying a used car until recently has been an inflated market…
I see some small improvement in the last couple of months…
Do you think the market will go back to the pre-COVID situation later this year, whereby you can get a second hand car for a decent price?
It started to drop, briefy, last year and then went back up again. I haven't tracked it for a few months, thanks for the motivation to start watching again as I want a sane (ha ha) priced used car.
BUT Albo-Modi immigration will cause demand to outstrip supply of used of cars, so I won't be holding my breath.
I have time on my side to some degree, I can afford to wait a few months but not much longer than that…
All the big 4 are still not making the same level of cars pre pandemic
Price of cars has increased also so any used car will be more expensive
Also inflation.
Why are they making less cars? I understood the chip shortage in 2020/2021 but surely that must be coming to an end?
I'm exposed to manufacturing somewhat, and it hasn't improved for us fully yet. We still have lead-times for 1+ years for certain things.
Where is the poll option for ‘same question been asked before, still don’t know’
Higher interest rates, much improved new car supply should mean a slow in the new car market which means a drop in prices for used cars. BUT, they aren’t the only reasons for prices. New car prices are still high.
You might find that people are less willing to sell their car for less than they bought it so will hang on longer meaning less used car supply. More people could be waiting for EVs so less supply.
Why are you asking? Are you upgrading? Broken car and want to know wether to fix it and wait for better prices or jump in now? If you sell now you could get more but pay more.
Asking because my car was written off… Looking for a new used car, but I don't drive often at all and can wait months if it benefits me (prices go down)
It’s not going to benefit you that much by waiting a few months.
Gotcha. I could stretch out to a max of 6 months, but probably would not make much difference it seems…
Starting to see some drops in older cars. But thats about it. Suppose depends how desperate the seller is.
Either it gets better soon or I have to fork out for new tyres for my old car. I'm almost certain I'm buying new tyres.
Used will come down to a more reasonable level but new won't really come down ever again.
Used prices are relative to new prices, ALSO with Albo-Modi immigration demand will totally outstrip supply, so market forces, used prices will remain same but probably go up.
'… ALSO with Albo-Modi immigration demand …'
Why are you harping on politicians, its just immigration
I call BS on that. Net migration has been down 0.5% for the last 5years or so. Average migration hasn’t significantly changed previous to that for ages.
Can you imagine how amazing this country would be if:
instead of the trillions of dollars of taxpayers money (and decades and decades of construction) invested in building and maintaining roads, and the trillions of dollars of citizens' money invested in buying, running and maintaining private cars,
that money had instead been used to create a comprehensive high-speed public rail/tram network?
I'm not talking about the patchy, slow and inconvenient systems we have now. I mean a network so comprehensive it could replace the road network.
It would be so much safer and more comfortable and easier to get everywhere. There would be far less pollution and road noise in many areas. You would not get stuck in traffic every day, getting stressed and breathing in toxic particles. You would not have to fork out $30k-$60k for a new car every decade or so and $500-$2k per year to maintain it. Australian cities would be much more beautiful, with many more walkable streets and quiet, green areas. Australia would the envy of the world.
Unfortunately our governments are unambitious and lacking in foresight, and so we sit in traffic every day risking our lives and breathing cancer-causing benzene, carbon monoxide, acetaldehyde, and cancer-causing tiny particulate matter.
The usual rule of thumb is that with having to go to where you have to catch it, and wait for the next one to come, and then do the same at the other end of the journey, it takes three times as long to get there by public transport than it takes if you can just go out to your garage, get in your car, and drive it from where you are to where you want to be.
Without the private vehicle huge amounts of our time would be wasted getting to wherever we want to go, and getting back. And people would simply be denied a lot of the quality of life enhancing trips that they can do when they can do it in their car. Plus there's the issues of if you are going somewhere to buy something. Even just grocery shopping. How do you get it back home on public transport. How would you get anywhere by public transport if you were parents with little kids. We would all be locked into doing all our living locally and having very reduced choices because of that. Yes, walking would often be better, but often you'd be limited to where you could walk to. Other choices would be denied you.
Its just a shame we are not being offered small short range city EVs so we could retain the freedom of personal mobility without a lot of the downsides of internal combustion engines. Instead of being offered EVs that could do what EVs could do best, transport us around our cities, we are offered EVs that are expensive because the batteries required to give them long range are expensive and heavy. And then most of them mostly just get used around the city anyway because even with big expensive batteries they still aren't well suited to long distance travel because of recharge times.
I think you didn't really get the point of my post. You seem to be talking about existing public transport. I'm talking about a radically different Australia that instead of roads and cars, has an extremely extensive and convenient and comfortable public transport network. Imagine if every dollar spent on roads and cars had instead been spent on creating the world's best and most extensive public transport network.
You mentioned living locally. Living locally would be so much nicer if everywhere wasn't clogged with cars and car noise and dangerous drivers. There could be public electric bikes available for free everywhere. Sounds like a rational, healthy society to me.
Everything you are describing is how some people grew up. There is nothing wrong with that.
We used to live is a reasonably small town. There would be a bus to anywhere you wanted to go every 5 minutes (less on weekends). There we trains/busses to other cities well within reach and more convenient than driving. A lot of places were within walking distance, including shops.
Having grown up like that, I still prefer to walk/ride/ take public transport everywhere. I do not understand the mindset of driving everywhere.
Having said all that. There is a problem in Australia with everything being far apart and it is harder to solve. The planning could be better in a lot of places, but the mindset of people making decisions and general public is set on driving.
There is a problem in Australia with everything being far apart and it is harder to solve.
We’ve made a rod for our own back. We’ve encouraged car use and urban sprawl for far too long and it’s going to take decades to turn it around.
As for Australia massive distances, yes it is a long way between towns and cities but reality is most of us only do that sort of travel on holidays. The reality is that the vast majority of us live on the east coast near the coast. Then when you consider commuting etc, we’re not that different to other places because we generally live and travel on our own city. It’s just our cities have been built for car travel and public transport is just rubbish because it’s been pillaged by politicians kowtowing to fossil fuel interests.
No thanks, public transport sucks.
One of the reason it sucks is because the road network and cars are prioritised everywhere, and the public transport network has to fit into the gaps, or even be blocked by car traffic. Imagine how good public transport could be if there were no cars anywhere and all that money spent on cars and car roads had been spent improving and extending public transport.
No, it sucks for other reasons. You can't go where you want, when you want. You can't take whatever you want on it. You have to share it with ferals.
@brendanm: If there were no roads for cars, there would obviously have to be alternative methods of carrying goods, like special freight carriages in each train, with electric or automatic trolleys from the public transport stop to your house. There could be a “no ferals” carriage (kidding). But seriously, millions of people already willingly catch public transport and don’t seem to mind sharing with ferals that much.
On the scale I’m talking about (where every dollar spent on roads had instead been spent developing public transport technology and infrastructure), public transport would be very different from what it is now.
@ForkSnorter: I still have no interest in it. It doesn't suit me, and I'm sure doesn't suit lots of people. I want to go where I want, when I want, with people I want to be with.
@brendanm: Public transport could be a whole lot better. It’d be great if you could go pretty much wherever you want when you want without sacrificing hours compared to car tracks. But we’ve built a system around cars and car travel to the detriment of decent public transit
Yes, IOCs driving and the utility of owning a car, but if I could get to and from work and routine locations just as quick and cheaper I’d rather not sit in traffic and pay for expensive fuel.
As a car enthusiast, I really wish the government invested more in public transport.
I am happy to pay 5x the amount of our rego if that extra money goes towards improving public transport.
So you want rego to cost around $5000?
If that improves the mobility of millions of people via public transport
AND
- saves me time
- reduces my stress
- improves my driving enjoyment
.. I won't hesitate to pay that price.
I've spent half of that on tolls and that just benefits me.
@Indomietable: You could improve public transport 10 fold and it won't increase the number of people who use PT.
Australian's like to drive.
@Danstar: Bollocks! We see significant public transport uptake for people who work in CBD on the weekday.
I can guarantee that most of them would like to drive but its more expensive, slow, and stressful to do so.
When cars become expensive to own and public transport becomes the better option, people's attitudes will shift.
@Danstar: The plural of a noun does not require an apostrophe. It’s not “Australian’s”, it’s “Australians”. And you’re wrong. Nice public transport is a pleasure to use. The next time you’re stressed focusing on the road as you drive for hours through heavy traffic or bored to death driving along never-ending country highways, think how enjoyable it would be if you could sit back and relax, look at the scenery, have a meal, have a nap, pull out a book or your iPad, etc.
The next time you’re STRESSED focusing on the road as you drive for hours through heavy traffic or BORED TO DEATH driving along never-ending country highway
Maybe you should hand your licence in if that happens to you. You can't concentrate if you are stressed or bored.
@ForkSnorter: Thank you officer for your correction.
I’m sure nice public transport is a pleasure to use. It has to be nice though doesn’t it?
Good on you for wanting to have a nap on the train. Maybe you should look at your sleeping habits if you’re needing to nap in public.
@Danstar: If you've ever caught the Shinkansen (bullet train) in Japan, you'd know what I'm talking about. It is absolutely amazing and fun and comfortable and convenient, much faster than driving, takes you halfway across the country in less than 2 hours, got all kinds of food/drinks and other things you can buy on the train, links up with all kinds of other lines and modes of transport. It's so smooth, you often wouldn't know you're moving, even though you're moving at 200-350 km/h.
This is what we could have if we weren't spending such a ridiculous amount on roads and cars.
And in response to your unproven claim that Australians don't like riding public transport. If you travel to the centre of Sydney, Brisbane or Melbourne you will instantly be proven wrong. There are literally millions of people catching ferries (with beautiful views), trains, buses, trams in every direction. Some of them are riding them just for fun (for example the ferries). Now imagine how many more people would use them if they were more convenient, more luxurious, faster, and more comprehensive.
There are literally millions of people catching ferries (with beautiful views), trains, buses, trams in every direction. Some of them are riding them just for fun (for example the ferries). Now imagine how many more people would use them if they were more convenient, more luxurious, faster, and more comprehensive.
There is also millions of people driving their cars…..
Ferries? What % of people travelling for work are catching a ferry?
Beautiful views? Seriously?
Bullet train would be great, but considering the amount of stops metro trains do, it's not very plausible.
If you've ever caught the Shinkansen (bullet train) in Japan, you'd know what I'm talking about. It is absolutely amazing and fun and comfortable and convenient, much faster than driving, takes you halfway across the country in less than 2 hours,
Australia is 4,030k east to west and 3,685 north to south, Japan is ……
@CurlCurl: Sydney to Melbourne or Sydney to Brisbane would make sense. Almost as quick as a plane, none of the airport related faffing around.
@CurlCurl: Seeing as you appear to like specific numbers:
Tokyo to Aomori via Shinkansen is 713 km, and the trip duration is 2 hours 30 minutes.
Tokyo to Fukuoka by Shinkansen is 1100 km, and the trip duration is 5 hours.
In comparison:
Sydney to Melbourne is 877 km, and the trip by car takes 9 hours (assuming no stops) or 11 hours by train.
Sydney to Brisbane is 910km and the trip by car takes 9hrs30-10 hours (assuming no stops) or 14 hours by train.
…also, Japan is 3000km north tip to south tip (not including small islands).
It is absolutely amazing and fun and comfortable and convenient, much faster than driving, takes you halfway across the country in less than 2 hours
Now, how far is it from Brisbane to Adelaide? Try 1,621 by PLANE
@CurlCurl: What's your point? I just demonstrated that the Shinkansen is 3-4 times faster than driving, and around 5 times faster than existing Australian trains. Meanwhile, you can relax in luxury, work, eat, sleep, enjoy the scenery, etc. without having to concentrate fiercely for hours and hours to avoid dying in a head-on collision. The discussion is about how public transport could/would be better than driving if more money were spent on it.
What's your point?
The point is distance and money that for some reason you have ignored or dismissed.
There are many more important things this country needs. Hospitals, reliable energy, flood control, homelessness people, and most importantly, social housing more than a bloody fast train.
@CurlCurl: Did you read my comment? I'll repeat it for you:
Tokyo to Aomori via Shinkansen is 713 km, and the trip duration is 2 hours 30 minutes.
Tokyo to Fukuoka by Shinkansen is 1100 km, and the trip duration is 5 hours.
In comparison:
Sydney to Melbourne is 877 km, and the trip by car takes 9 hours (assuming no stops) or 11 hours by train.
Sydney to Brisbane is 910km and the trip by car takes 9hrs30-10 hours (assuming no stops) or 14 hours by train.
If you want more information: The Tokyo to Kagoshima Shinkansen distance is 1353.6 km
From Aoyama to Kagoshima by Shinkansen is a distance of over 2000km.
And your point is?
@ForkSnorter: My points are……………
Not worth explaining to you again as your comprehension skills seem to be lacking.
@CurlCurl: This whole thread was about a hypothetical different Australia, where the government had been ambitious and built proper public transport systems instead of wasting trillions on roads and cars to the detriment of Australians, who risk their lives every day on the freeway, and have to breathe in toxic particles while stuck in traffic. It's not about building a high-speed train.
@Danstar: We do, but there are a shit ton of us who drive because 1) Public transport sucks 2) it takes to long.
Bus doesnt meet train, leave car at the train station it gets broken into/stolen etc
I love to drive but hate driving in peak hour traffic. its just better than the alternative
Kind of like Singapore. $100,000 for a permit to own a car.
Brilliant public transport (which still sucks compared to having a car).
Relatively empty roads for the people rich enough to pay the car tax.
Yep. When you live in places that have invested properly into public transport infrastructure it makes such a difference. Can comfortably for a cheaper price than driving a car get to wherever you want, and get more exercise too.
People who don't understand this just haven't experienced what good funtioning infrastructure looks like. You can entirely sell your car and ride on bikes or PT for anything you need.
Imagine in an ideal world where there are no wars and aggression, if all defence money are used for the world well-being instead…
I've always thought it would be great to have a large autobahn like highway around the perimeter of Australia. Maybe have a metro line as part of it with high speed trains.
I've noticed in recent weeks a lot of the "weekend" and "project" cars and bikes are up for sale with significant discounts. There's a good lookin Lotus 7 replica going for $10k which is fair buying. Lots of decent motorbikes that have had 30% taken off the original asking price which makes them appear reasonable value.
I assume more run of the mill vehicles will follow.
Agree…
The weekend/project cars are the first to go when interest rates start to bite.
Usually the owners of these cars have mortgages or are looking to buy their first home.
As a homeowner who can afford a weekend car, with kids and their activities these days, I can't afford the time or effort in maintaining a weekend car.
I also noted that the new Civic Type R's and Z's being listed at near retail (not sure what they are actually selling for).. a year ago these type of cars were being listed at way above retail.
The days of cheap money are over.
Lifestyle or financial priorities change and when the purse strings need tightening the toys are first to go. So many 1 year old 4WDs up for sale on the Pajero Sport forum I follow due to "change in circumstances".
We moved house 2 yrs after our first child was born. I had a BMW R80ST project bike and a BMW R80 "daily rider" that was no longer being ridden to work as I was going from work to childcare pickup.
I was managing about an hour a week working on the R80ST and CBF organising a transport to move it. Everything worked but the brakes or I would have ridden it to the new place as it was a great bike. I sold it for $2500 to a mate.
The R80 (which wasn't a great bike) had become a bed for the cat. Sold that for $7k.
Those that need to sell that 1yo cars are usually financed.
Is the Pajero Sport a decent car? I've only sat in the back of one of them, I wasn't too impressed as a road car but I would imagine many of them wouldn't be used off road.
I suppose it's a cheap entry to a 7 seat 4WD.
You mean you can't mount a baby seat on a motorbike?
Is the Pajero Sport a decent car?
Answer, no they aren't. Two small an engine. Eight speed auto that hunts gears. Turbo hose rubs on the timing case cover creating a boost leak and limp mode. Push button electric park brake that locks and won't release (it does come with a lever for you to unlock it). If you are over 1.8cm and a little on the large size your leg will rub on the transmission tunnel. 18 inch wheels with a low profile is crazy. There are also other annoying niggles. Besides all that, they are DOG ugly.
I've never owned one but I do belong to a Mitsubishi Forum.
@CurlCurl: Tell us what you really think! lol
I didn't think that much of it nor a looker.
They seem very popular though.
Tell us what you really think! lol
I didn't think that much of it nor a looker.
They seem very popular though.
Mitsubishi were crazy to drop the Pajero, (I own one.)
Looks like a Pajero cross Nissan could be on the way. Hope they don't use the Nissan engine or the Renault from the parent company.
Is the Pajero Sport a decent car?
Answer, no they aren't.
You are a little misinformed CurlCurl. They aren't fantastic cars but they are capable for what they cost pre-covid. I drove a new 2021 LDV ute ($30k DA) and bought a 2016 PS with 105k for $33.5k DA and the PS was definitely the better car IMO. Is it a Prado? No way but a similar age/mileage Prado was $20k more at the time. An Everest was also a crazy price with the added fun of inconsistent Ford build quality and reliability.
DOG ugly
Hell yeah. And I came from a Mk2 Octavia. Luckily I can't see the car while driving.
Two small an engine.
Yes it is TOO small. 133kW/450Nm in 2.2tonne with shocking turbo lag and an off-road throttle map makes for a challenging drive around the suburbs. A decent throttle controller (EVC or similar) make it (just) acceptable.
OTOH, when out in the regions I can cover ground at an alarming rate if I have to. It overtakes most slower vehicles when I need to. It cruises just fine at 130kph, easily does 160 to overtake road trains and only starts to feel unbalanced at 180.
Note: the 3.1tonne towing capacity is a fantasy if you intend to carry passengers and luggage. If you do intend to tow, the radiator is too small and the rear springs too soft.
Turbo hose rubs on the timing case cover creating a boost leak and limp mode
It rubs against the power steering pulley when installed incorrectly. I have 20mm clearance. The hoses are rubbish and split. Replace with silicone for $220.
18 inch wheels with a low profile is crazy
Very much done for looks, the school run and to achieve fuel economy targets. They are 265/60r18 (775mm dia). Most people should go to 265/65r18. I run 275/65r18 (815mm) and they are great. NB:also a good a great guide of my wading depth.
Superselect2 transfer case is great as I can use AWD on bitumen. Rear locker diff gets me almost anywhere. Downhill crawling is better than the Nissans.
It's not a great car but it does OK and wasn't expensive
Superselect2 transfer case is great as I can use AWD on bitumen. Rear locker diff gets me almost anywhere. Downhill crawling is better than the Nissans.
It's not a great car but it does OK and wasn't expensive
I own a rare beast being a Gen 4 SWB and belong to the Victorian Pajero Club Forum so I read a lot about the Sport on the board. I agree they are very capable off road. They are based on the Challenger that was based on the Triton Ute. The super select is brilliant. Mitsubishi have been light years away for years from other manufactures with it. I have 357,000k on my shorty. I also have a diff lock but is from ARB.
The 3.2 diesel in the Pajero is the motor they run in some Fuso trucks and has been around forever and is very agricultural.
I think it's started as long as you're not in a rush.
Massive improvement in the market already… There are still some sellers that hit the meth pipe before jumping online or forget to remove the 12kg of heroin from the glove box before listing the car, but generally the market is way down.
A great indicator is the Tesla Ponzi scheme collapsing in on itself… A few months ago I said that soon you will be able to pick up a used Model 3 for close to $40k and I was negged. There are now heaps of them in the low $40k bracket and I have seen a few sold at auction for $39k to $40k prices. And these are not quite 3 year old cars with less than 50,000km on them. If you cant pick up a private sale Model 3 2020 model with less than 50,000km on the clock for under $40k, you are not looking hard enough.
And this is only one example. There are heaps of other cars out there that have dropped in the arse price wise as people no longer need own transport, going back to public transport, lease plans are up, looking to downsize because of economic pressure, supply chains back up and running, new cars rolling in en-masse again… Ok, we are not back to pre-covid prices, but it isnt far off it.
I wonder how much FBT free electric cars are gutting the used EV market specifically though. Why spend $40k on a used Model 3 when you can buy a brand new one for effectively the same price?
You can also just go pick up a new Model 3, there is stock available, so that pushes it down. But go look at pricing on a 2020 Nissan Navara with 50,000km on it and they're being advertised at basically new prices because the wait time is 6 months still
'I wonder how much FBT free electric cars are gutting the used EV market specifically though'
Massively.
As you said 'Why spend $40k on a used Model 3 when you can buy a brand new one for effectively the same price?'
Usually the people who are interested in EVs are the ones who can salary sacrifice.
the people who
are interested incan afford EVs are the ones who can salary sacrifice.
There plenty interested in EVs but can’t buy because they can’t afford more than $20k for a ‘new’ car.
Telsa (Aside from the company and CEO itself) arent very well built and theres a lot of negative publicity about how they do a lot of things. They have issues with repairability as well.
Depends what car. The cars I've been looking at have dropped about 15% in price compared to last year, but also taking into consideration the car is a year older so naturally has depreciated.
Which cars have you been looking at?
2019 Merc GLE 43/63
Stopped looking now as I've ordered a new car for myself and will keep my original (family) car
The "Decent price" will be whatever the pre-covid price was plus the amount of inflation that's occured over the last 2-3 years.
So basically, whatever the secondhand price was of the car 3 years ago add another say 3 x 5% bouts of inflation and that's it's new number.
Supply chains are catching up and chinese cars along with many euro's can be had within a week or two. Just look at the number of cashback/sales going on in the industry.
Of course Toyotas and many Kia's and Hyundais are still cooked though.
I've had multiple car dealers calling me to take a car off their hands after lowballing them 3 months ago only for them to now realise the market has turned.
Toyota prolly isnt planning to get back to pre covid levels. Likely better to make 20% less vehicles with a wait list then have to offer deals to move old stock. As well of teh benfits of a made to order system. No one will be left with a weird colour combo with stupid options sitting on a lot.
I rather see vehicles sell at RRP then need to call around 30 caryards and see who is offering what.
Plus car manufactures can also likely run at there new capacity and be optimised for that rather then need to smash vehicles out at the start of the year or just before tax time.
Either way im sure the car manfactures been counters have worked out the best way to make/release cars
Honestly i dont know - we have seen an influx of 'cheap' Chinese Cars which should put downward pressure on the market (MG, Haval, GWM, BYD, Chery)
However that will also put a 'Ceil' on the value buyers in the market - however i think many of these Chinese cars are still building a brand and reputation - i doubt all of them will last the distance - ive been hearing the BYD in particular ppl have had issues with.
Brands like Toyota and Ford are pretty 'strong' for value and reliability - Toyota in particular 'really' holds values which will always make it a more attractive car to buy then the MG for example.
The Aussie car makert is pretty diverse - most people dont want the standard Sedan anymore - Utes and SUVs seems to sell quite well - Uts in particular are normally purchased for 'work reasons' and comes with some 'tax write offs' - if your business relies on your Uts to get to jobs you're probably less likely to cheap out and get a 'Great Wall' Ute….
SUVs are normally for familes with kids that want the 'extra' boot space and comfort the extra size of the car is perceived to bring
High migration = high demand for cars
How many cars are sold each year vs how many migrants are coming in? I think you’ll find it’s a pretty small portion of total sales.
How many cars are sold each year vs how many migrants are coming in? I think you’ll find it’s a pretty small portion of total sales.
This comparision makes no sense are you saying having more people in Australia 'doesnt' increase demand for new and used cars?
Of course it makes a difference, but my point is it’s likely to be a very small difference.
Around 1 mil new cars sold. Apparently around 3mil used cars sold in 2022.
Net migration is around 5 per 1000 people (and has been falling) https://www.macrotrends.net/countries/AUS/australia/net-migr….
Total population growth has been around 1% for the last 5y or so down from peak of 2% in 2008.
Migration will not make a significant difference to the car market at those rates.
@Euphemistic: fair enough got to also note the current infastructure esp poorly run states (ie Victoria) has not kept up with the excessive population growth throwing more people on top of that doesnt help
Thus more cars on the road for roads that are 'already struggling' means more accidents, longer journey times, more cold starts, higher road fatalities etc - even if these people dont drive more need for public transport, more need to ambulances, more need for ride sharing/Taxis etc
The migration 'directly' has an impact on the excessive strain on current resources when infastructure does not keep up with demand - which the Federal government and state governments slashing infastructure spending by 100s of billions will ensure it will not….
A lot of people hated on the last government but they knew infastructure spending was a key component to keeping quality of life standards high whilst having fairly high migration
It will depend on the car,
trying to sell a 7 seater with a 3.5L v6 that does about 5km/L - not much of an interest it seems :)
racking my brain thinking what car it could be.
I'm thinking old Sante Fe, Pajero or Kluger
ha ha no, it is a 2010 AWD Nissan Elgrand
I think part of the problem is that people don't know that the Elgrand exists.
Isn't it 8 seats?
Don't mention the 20L/100km bit too haha
This makes me feel better about our older car.. does 16L/100km on premium 95. Fortunately it's a spare car and only does about 5,000km per year.
@JimB: It is a 7, captains chairs on the middle row, one of the pictures show the fuel consumption on the centre screen, may be I should remove that…
@azero: Reset it the fuel consumption meter, and then take it long drive on a flat road at 3am in the morning with the A/C off, don't even stop at red lights. Then take a new photo.. haha
The bris used car market appears to be returning to a pre-covid level. Still not great, but i compared it to melbs market and bris 2nd hand car appear cheaper across the board
Market is crashing pretty hard in a lot of ways.
Prices are still expensive on carsales, but a lot of these cars have been on the market for 3+ months too.
I guess negotiate right…
Location is also going to play a part in this situation.
Canberra is still highly inflated due to the hailstorm 3 years ago that wiped out 30k of cars as well as there being a metric ton of cars on the market that resemble golf balls that people either bought back from their insurer or never had insurance on in the first place.
Canberra will also to a reasonable degree affect Sydney, Melbourne and country area prices as people search further afield for deals that aren't available locally.
It's coming down, and affecting some cars hard. I laugh when I see a $50k car with a strikeout price now being sold for $39k on facebook marketplace and it hasn't moved in months.
As others have said, interest rates are skyrocketing and that isn't just on homes. People who overleveraged themselves in the last 5 years and have an $80k car they can't afford to keep are having to sell it at a substantial discount.
Same is happening in every area of discretionary/luxury spending. Look at the number of Omega watches that are being listed at 30-40% off retail and they're 2022/3 models.
Where are you seeing Omega watches being listed for 30-40% off retail?
IMO the retail prices of Omega are too high. They are approaching/above Rolex prices.
From my own observations I've noticed prices are coming down a little but also sellers are having a lot of trouble selling the vehicles whilst also being stubborn on pricing.
Does a Kia Koup interest you?
Yes!
It's a buyers' market
And also a sellers' market
TBH, when it comes to used cars, I concern more about the quality of the car than the price.
There are too many dodgy sellers on the market, even small dealers like car yards.
Very true. I think it takes time, luckily I have time.
It has apparently started to drop, ‘marginally’,but by how much remains to be seen.If you have time on your side, perhaps wait it out?