Second hand prices

[Santa79]

Is it me, or are second hand prices going through the roof?
I have seen 3 year old Cali's going for stupid money, like the price of a brand new one minus VAT...

This kind of price is really beginning to put me off buying one at all now, I feel like new buyers are being had over a barrel just because of the current circumstances. Whilst I appreciate that done people may really need the money, but it's not fair to ask for so much money for a second hand vehicle...

 

[jmf]

I had a text yesterday from the dealer I brought my California from a couple of years ago to say they were interested in buying it! Due to “overwhelming demand and shortage of supply”. I’ve no intention of selling though.

 

[WelshGas]

Is it me, or are second hand prices going through the roof?
I have seen 3 year old Cali's going for stupid money, like the price of a brand new one minus VAT...

This kind of price is really beginning to put me off buying one at all now, I feel like new buyers are being had over a barrel just because of the current circumstances. Whilst I appreciate that done people may really need the money, but it's not fair to ask for so much money for a second hand vehicle...

A second hand vehicle with Immediate Delivery or a new vehicle with 4 - 6 months delivery. Really upto the buyer.

 

[Algor]

Is it me, or are second hand prices going through the roof?
I have seen 3 year old Cali's going for stupid money, like the price of a brand new one minus VAT...

This kind of price is really beginning to put me off buying one at all now, I feel like new buyers are being had over a barrel just because of the current circumstances. Whilst I appreciate that done people may really need the money, but it's not fair to ask for so much money for a second hand vehicle...

Not fair? The market dictates the price and people will rightfully get as much as they can back off their investment.

 

[Santa79]

Not fair? The market dictates the price and people will rightfully get as much as they can back off their investment.

You may be missing my point.
A brand new, £66,000 California is worth about £53,000 the moment you drive it off the forecourt. And that's just the VAT you paid...

So how can private sellers ask for more than that for a 3 year old van with thousands of miles on the clock? I just don't believe it's right, I've been around VWs my while life and am no stranger to scene tax, but I do think the current prices are too scene tax heavy.

 

[Santa79]

Case in point... My local can centre it's getting this in soon. 2020 plate, 5k on the clock and £55,000 asking price.

Unfortunately, I've missed out on it as someone has reserved it already.

 

[andyinluton]

You may be missing my point.
A brand new, £66,000 California is worth about £53,000 the moment you drive it off the forecourt. And that's just the VAT you paid...

No it’s not, it’s worth whatever someone will pay for it.
That figure may be more than £66k if lockdown lifted and the sun comes out.

 

[Amarillo]

You may be missing my point.
A brand new, £66,000 California is worth about £53,000 the moment you drive it off the forecourt. And that's just the VAT you paid...

So how can private sellers ask for more than that for a 3 year old van with thousands of miles on the clock? I just don't believe it's right, I've been around VWs my while life and am no stranger to scene tax, but I do think the current prices are too scene tax heavy.

If the price is too high, don’t buy.

There are plenty of alternatives: e.g. conversion, caravan, Mercedes, tent, Airbnb, etc.

You cannot really blame dealers and private sellers for asking what they believe they may get for their van.

 

[Algor]

You may be missing my point.
A brand new, £66,000 California is worth about £53,000 the moment you drive it off the forecourt. And that's just the VAT you paid...

So how can private sellers ask for more than that for a 3 year old van with thousands of miles on the clock? I just don't believe it's right, I've been around VWs my while life and am no stranger to scene tax, but I do think the current prices are too scene tax heavy.

They can ask for it because they can get it, I don't know what else you would expect sellers to do.
If you feel the costs are too high you don't have to buy one. The thing to consider though is that if you do buy one then when you come to sell it you will receive a good amount back for it. Perhaps consider the overall cost of ownership from year X to year Y as opposed to just the initial purchase price.

 

[66tim99]

Case in point... My local can centre it's getting this in soon. 2020 plate, 5k on the clock and £55,000 asking price.

Unfortunately, I've missed out on it as someone has reserved it already.
View attachment 71655

I’m not convinced many dealers know what they’re dealing either. Eg The advert says both 204 and 199, but doesn’t mention if it’s a 6.1...
I was offered a T6 with 5,000miles for the same price as a fully loaded 150 6.1. Depends how desperate you are. I’m surprised that people ARE paying those prices now though, when you can’t really use it...

 

[Kernowboy]

Definitely an inflated market at the moment, but that doesn’t make it unfair. Also doesn’t mean that asking prices are being achieved - there are a number advertised on this site and also at dealers that are certainly towards the optimistic end of the spectrum which haven’t shifted. It does seem to be that anyone serious about selling has an opportunity to get a good price though - a tidy looking 2017 Ocean advertised at £44k recently on here went quickly. The van highlighted above sounds to be more in that territory and I would say is very fairly priced; thus it sold. Sounds like its a demo though, which means the dealer has different criteria to apply.

 

[2haw]

Just wondering, if you bought a house 20 years ago, I trust you would now sell it for less than you paid for it?

 

[Sad]

Is it me, or are second hand prices going through the roof?
I have seen 3 year old Cali's going for stupid money, like the price of a brand new one minus VAT...

This kind of price is really beginning to put me off buying one at all now, I feel like new buyers are being had over a barrel just because of the current circumstances. Whilst I appreciate that done people may really need the money, but it's not fair to ask for so much money for a second hand vehicle...

It's not the new buyers that're over the barrel, it's the used buyers. The 2nd hand prices make buying new look more sensible, and then sell in 3 years for what you paid for it. Has been like this for the last few years that I've been looking...

 

[Santa79]

Just wondering, if you bought a house 20 years ago, I trust you would now sell it for less than you paid for it?

That is not exactly a fair comparison, is it?
In that case, my 2011 mini should be with 20 grand.

 

[2haw]

That is not exactly a fair comparison, is it?
In that case, my 2011 mini should be with 20 grand.

Not really but to say its “not fair” seems a little strange. It reads that people should sell for less than the net price.

California’s don’t really drop the VAT as soon as you drive it off the forecourt like virtually every other car. People are naturally going to want to return as much as they possibly can, just like selling a house!

Good luck with your search. If you buy one, i doubt you will regret it.

 

[Perfectos]

Hi Santa,

Having been around the VW scene you will be aware that VW vans have fanatical following, prices of second hand vans are always high.

The current situation is bolstering prices, which is good if you currently own one, not so good if your trying to get one !

is it unfair ?

IMO If you were selling you would not think so ?

I have bought and sold a few VW vans in the last 35 years, I never found a VW van that I thought was cheap or indeed over inflated !
I sold a Velle in 2009, I would have to pay today what I sold it for in 2009 to own that van today !
is that fair ?
I opted for a new van back in 2018, purely because I had been looking for over two years, during that time the price of second hand Cali‘s were very close to new prices (sounds familiar), therefore I bust the budget and bit the bullet.

scene tax yes, but you pays your money and you make your informed choice.

you didn’t really expect anyone on the forum , whom currently own a Cali to agree that current prices are unfair ? The Cali has legendary residuals to match its legendary status, which are being supported historically and the current situation and supply / demand Has only underpinned this.

it was interesting to note your comment “Unfortunately, I've missed out on it as someone has reserved it already”

which is my case in point, you missed out because someone beat you to it and paid the asking price (whether that be inflated or not Is a matter of conjecture).

A van is only worth what someone is willing to pay for it.
im sure your perspective will change if you become an owner ?

I genuinely wish you every success in your search as I know how frustrating it can be chasing the elusive bargain and the correct specification.

 

[B J G]

That is not exactly a fair comparison, is it?
In that case, my 2011 mini should be with 20 grand.

1970's Ford Escorts can now be over £40K.

I recall when on a training course being asked how to price a product going into the Marketplace. Those like myself from an Engineering background all replied that we would add all the raw materials to the production & design costs then add a margin for profit.
We were all wrong.

Correct answer was '"price is what the Marketplace will bear".
Obviously must be a profit to justify production.

 

[Ladymuck]

Is it me, or are second hand prices going through the roof?
I have seen 3 year old Cali's going for stupid money, like the price of a brand new one minus VAT...

This kind of price is really beginning to put me off buying one at all now, I feel like new buyers are being had over a barrel just because of the current circumstances. Whilst I appreciate that done people may really need the money, but it's not fair to ask for so much money for a second hand vehicle...

I understand your frustration, California's are very expensive and naturally buyers whose budget can't stretch to a new one understandably think to get one a few years old and are dissapponted and shocked to find prices of these vans are not far off brand new prices ! That's certainly how I felt anyway, I had about 40k to spend and quickly realised that this wasn't going to get me very far in getting a newish Ocean. So after never having a new vehicle ever here I am awaiting a new Coast, there's no way I was prepared to pay that money on a second hand vehicle.
I'd order a new one and wait, what's your budget ? Don't forget you can buy a new Coast for £50k with a drive the deal discount.

 

[Haves1979]

You cannot apply usual 2nd car price rules to Calis, the point you lose VAT as soon as you drive away simply is not the case. 2nd hand cali prices are strong, always have been, and yes have been worse during lockdown.

I was looking for nearly a year and found the process hugely frustrating. I eventually bought a 5yr old one for not a huge amount less than the owner paid new sadly. It's a sellers market so I had no choice really.

To me the one outlier is how the coast impacts on prices when they start coming up in a few years. That and new prices surely cannot keep rising....

 

[ReinholdMessner]

Prices may (or may not) drop by about 20% for second hand vehicles but it's got nothing to do with VAT.

If a private (i.e. non-business) customer's willing to pay £60k for a thing, that means they're willing to pay £60k for the thing. Whether 1/6th of that belongs to HMRC or the retailer's P&L account is neither here nor there.

 

[Aca_chap]

Prices may (or may not) drop by about 20% for second hand vehicles but it's got nothing to do with VAT.

If a private (i.e. non-business) customer's willing to pay £60k for a thing, that means they're willing to pay £60k for the thing. Whether 1/6th of that belongs to HMRC or the retailer's P&L account is neither here nor there.

exactly.

 

[Corradobrit]

Guess you don't follow Rolex watch pricing. Supply and demand is setting market price. Some used Rolex are going for 2-3x retail price. Its stupid.

I have to wait 10-12 months to receive my 199/204 Coast. That suits me just fine as I won't be back in Europe until Sept anyway, but I also have patience. Many don't and therefore have to pay the piper.

Unlike the majority of vehicles I consider the Cali a potential future investment like the Porsche 993 I bought 10 years ago and sold recently for twice what I paid, the proceeds of which went towards fund the Cali purchase.

 

[pjm-84]

Its market forces. I've looked at two Landrover vehicles recently and was pipped on the one I wanted.

 

[teapeaage]

After 5 months of waiting and browsing adverts (there's 9-10months of wait times where I live for new ones) + the price increase, I actually decided to pull a trigger on a GBP 56k 2019 with 28k mileage, fully speced 4motion 199PS ocean edition, with dynaudio, differential lock etc... I could probably order a new one for circa 65k but wait till at least august/september.. Market is what it is

 

[Jenny H]

It would appear to be across the board - puppy prices have gone through the roof as have horse prices - I think its supply & demand driven like always & so many people are looking to hobbies instead of holidays - it can hardly be described as unfair though its just life Im afraid & that has always been the power of money to choose what you spend it on.