Strange Times for Car Values

[olliesgrandad]

I bought my XV  at the end of June . I downsized from a lovely 2017 Lexus RX450h Premier with 37800 miles on the clock.

I bought the car in November 2019 with 24,000 miles on it and paid £33,950 for it from Cheltenham Lexus.

The trade in price I acheived against my Subaru was £28,500 which I consider was a fair price as the Subaru was £18495 with less than 16000 miles on it.

The Subaru dealer tried to retail my Lexus for just shy of £33,000 and then 2 weks ago dropped it to £31495. 

Last week  on Friday the car appeared at Lexus Reading with an asking price of £34,800 - £850.00 more than I paid for it.

Today it is no longer available  and is shown as sold..........

Admittedly I bargained hard when I bought the car and it was a good price for the range topping model (With the extras on it was originally sold for over £61,000 new in January 2017).

I just can't believe the way used cars are sellng at present.

At some point the balloon is going to burst in a big way.

Strange times

 

 

[Judd]

I agree with you, but what's happening now is not just strange its utter lunacy.

I'm not selling or buying any cars, and maintaining the current ones impeccably including continual rustproofing, don't want to be involved in any of the lunacy thats going on currently because, like you, something is going to go pear shaped soon and wouldn't want to be without my !Removed! on a chair when the music stops.

It must be cheap finance at the back of the current fiasco, if the average person actually had to withdraw £34k they had earned through hard graft from their bank and either hand or sign it over they would not be so quick to spend such sums i'm sure of it.

Are we heading for hyper inflation one wonders given how the price of your Lexus has escalated.