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The wealth effect ?

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daveironore

3,522 Posts.

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28/05/23

14:53

Post #: 68001879
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Originally posted by bensh10: ↑

I am selling our cars, and I thought to share my experience which may reflect what's going on in some markets.
I've heard the used-car market is still hot, but the reality seems very different.
Now these are 6–7 year old cars purchased at a very good price at the time since they were both demo.

* It's just ridiculous that the average price for a low mileage car at that age is only 15-25% lower than our purchase price. No secret of course given the amount of inflation we had. In healthy conditions, you think these should have been at least 60% below purchase price, if not more.

* Market seems down, and people are absolutely not willing to purchase. The prices seem artificially high without actual trade taking place. I mean when I search other ads based on mileage and price, mine comes up as say in the top three best deals. But in two weeks, I had zero enquiries. Only lots of clicks and no enquires. People seems to be just window shopping.

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The wealth effect ?

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