Second hand car value

[tut]

With the whole covid thing, second hand cars have gone up heaps in value over here. Especially the “special” cars, like limited editions and high performance toys. But also 90s shitheaps! A VN commodore used to be a car you couldn’t give away for free two years ago, and now people are paying tens of thousands for one?!

How is it where you are?

[tut]

Follow up question:
If the world is going to ban internal combustion engines by the mid 30s, would that mean that all these cars will be worthless?
Would you pay good money for a good car that should last a lifetime, if you can only drive it for ten years?

[thewalrus]

I'm not sure if it has anything to do with COVID, but I have noticed that a lot of the cars I'd love to own - even the ones that were typically cheaper - are going up in value.

NA Miatas are up near 10k CND now, and mostly with well over 200k km on them. NBs are (obviously) more expensive, and they don't seem to be depreciating any more.

I've toyed with the idea of an Element as a dive-support / surf vehicle so I'm not dripping salt water all over my Civic. But good luck finding one with a stick, in reasonable condition, for a decent price. And you'd think that'd be cheaper / more available where I live since, outside of VW Vanagons and Delicas, it's basically the official vehicle of Vancouver Island.

[thewalrus]

[tut]

I’ve heard dealers say that second hand prices have gone through the roof, due to unavailability of new cars. And then there’s all the people trying to snag an “investment”
And there’s people who haven’t been able to spend 20 grand on an overseas holiday, so they’ll spend it on a second hand “fun” car instead, but so is everyone else, and the prices go up.

Those are some theories I’ve heard, anyway....

Delicas are pretty cool.. we’ve been looking at importing a brand new one, but hesitant about the high price tag landed....

[Swerve]

I sold my 335i and bought a 94 WRX at exactly the right time. I got a good deal, but could sell it for minimum 3x the purchase price, and it’s been less than 12 months.
Also own an E39 with an LS1/T56 conversion and a 2004 Forester XT I accidentally bought for not much in an online auction. Apart from refinement and rear legroom, the Forester may be the best car in the world overall. It’s a lightish all-weather performance car that can be taken camping and off road.

[the_edge]

believe it or not, my dealership has been sending me letters and emails offering me to buy my car... for the same price I bought it new. My car's several years old.

I've been thinking of selling my 911 to them and buy a NEW Cayman with the price difference, somedays I feel it's a good idea, somedays I feel it's a terrible one. In an ideal world I could sell them my car right before used prices dip again (will they dip, if at all?) and use that money for a new car.

[tut]

We’re now looking at selling all our modern cars, as they’re worth more than what we’ve paid for them, and just leasing a cushy new car. And when prices settle again, we look at fun things again.

In saying that, we’re keeping/restoring our landrover and Datsun ….