Quote:
Originally Posted by Stormbitch
I think they will all hold money now nobody wants EVs but there is a chance the chip shortage will ease and there will be lots of new cars on sale.
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I think it'll be interesting to see how it pans out. The lift in used car prices is in part lack of stock, but increasingly because an increasing number of people are now priced out of the market. Ours has gone up in value in the last 3 months for example. But so have new cars, by an even bigger margin. So the monthly we were quoted would would raise by 45% (and continues to increase).
Then the next 18 months will see even more pressure on buyers as inflation and interest rates really hit hard (my mortgage rate will triple next year when my fix ends for example). That will mean fewer buyers I suspect, but also potentially the leasing bubble bursting. There will always be those who can buy cash, but I suspect that will be a smaller number.
Who knows quite what might happen! But I think we're resigned to not buying a new car in the next 3 years.
EVs. I think that's been dented by energy prices, but it's also a reflection I think that people are asking why should I pay 10-20% more for an EV. We set off to buy one last year but ended up buying petrol because it was so much cheaper. Very crude math suggested we'd never recoup the difference in a 4 year lease (we'd have to at least 30k miles a year, and get the charging rate down to 2.5p per mile which is unlikely).