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I've a 65 plate petrol auto very low miles ......offered £12k by local dealer .....if it's worth that to him it's worth that to me.....the only reason I'd think of trading the yeti is the potential unreliability of the dsg.....but what is reliable these days ? .....there are times when I think I'd be better of with something twenty odd years old with a lot less computer chippery☺
 

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there are times when I think I'd be better of with something twenty odd years old with a lot less computer chippery☺
So cars 20 years ago did not break down?
But no you are right, because they rusted away before they had the chance to do that.

PS:Its not the computer causing most of the problems with the 1.2TSI DSG.
 
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I was at Derek Slack Motors today and had a chat with the sales manager. They are short of used cars and for a new car most models will not be available for delivery until next March. They had only three new cars in stock (Kodiaq, Superb and Fabia) plus a few pre-registered ones to push up the sales figures. One Yeti: 2015 65 reg 4WD manual 31200 miles £15000. I was there for 3 1/2 hours and only two customers came in.
 

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OK time for an update and a question.

Everyone knows that used car prices have increased enormously over the last 12 months, and most recent 6 months even more so. Combination of dramatically reduced new car supplies (somewhere around 50-60% of demand) feeding fewer trade-ins into the market, coupled with increased demand for covid-secure transport to replace travel by trains and busses. Yetis seem to have increased more than most. This recent article puts the Yeti at 19th highest increase in values, with nearly 50% increase in the last 6-months alone....
Other reports in specialist press and places like Money Supermarket, tend to agree.

My question is, how long will these prices last? What do people think? There is a side-bar article in the first link above that says they may be here to stay? At least for the next 12-months? I'm inclined to agree? There is little prospect of car manufacturers getting increased chip supplies until new chip plants come on stream, and those plants are only just starting to be built. Dealers are desperate to get hold of used cars, to cover the overheads of their staff and showrooms with no new cars to sell. Hence the many reports of owners with 3-4 year old Yetis being called by the selling dealers, pleading to buy the Yeti back from them, at money in several cases more than they paid 3 years ago!

Asking for a friend who may be buying a used Yeti this week?

I predict that with the government induced push toward EV production by manufacturers, that demand for reliable used ICE cars, especially low CO2 output diesels, will stay high. Possibly increase still further by the end of the decade? After which you won't be able to buy them new. Never mind the particularly high cost of a full EV (as measured in both £s and CO2 output). I forsee a new industry in keeping older diesels alive for all those motorists who can't arrange charging for a full EV at home. (Terraced houses, blocks of flats, rural villages where car park is 50+ meters away but listed status of village means commercial charge points can't be installed, etc., etc.)
 

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Can't see the factors that have driven prices high currently changing much in the next six months at least, and you may well prove correct about it being twelve months. I would expect them to have levelled off so no further dramatic increase though. Interesting point will be how many people increase the car valuation in their car insurance as they could be in for a shock if their Yeti is written off and insurance only pays out the old valuation in the policy, as they will.
 

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Interesting questions, Flintstone.

Short term, I think it really depends on how quickly the availability of new cars recovers. I personally wouldn't be surprised if availability remains subdued for another 18 months.
Even if the chip shortage can be sorted within a year, the rest of the supply chain will also have to accelerate simultaneously, and I suspect that will not go as smoothly as just-in-time production systems require.
There will probably be fewer component suppliers when that time comes too, as inevitably some will not survive this downturn.
Establishing production of parts at an alternative supplier (or even an alternative production location within the same supplier) is not the work of five minutes if today's Quality Systems are to be adhered to.
There is a lot of paperwork required for every single component part.

Long term, after the ban of ICEs takes effect, I think a lot of the demand for second-hand ICE cars will come down to the availability of fuel.
Diesel fuel, for example, will still be refined for ships and trucks I'm sure. But eventually it will be difficult to come by for the average motorist, either through legislation or just lack of demand. Remember Lead Replacement Petrol?!

In the medium term, the transition period you might say (!), I think the level of demand for used ICE cars will depend on the perception of the general motoring public of how easy EVs are to live with, and how much they will cost.
The biggest hurdles to mass uptake of battery EVs (to my mind, at least)...
-Charging infrastructure
-Availability of mechanics qualified to work on EVs
-Longevity of batteries, and the cost of replacement
-Uncertainty over future taxation

The charging infrastructure will only increase over time, but will it increase fast enough to keep up with demand?

Most EVs are still new enough to be within their warranty period, and so the vast majority of them still go to a main dealer's workshop. Therefore the vast majority of EV-qualified mechanics are based in main dealers.
But when they become old enough that dealer servicing and repair becomes uneconomical, there may be abandonment of mid-life EVs en masse, just because thre aren't enough independent mechanics to fix them. Not very environmentally friendly.

Most of us will have experienced lithium ion batteries reducing in capacity over time in our phones, and then finding out that a new battery costs much more than one would expect.
This factor alone will put a lot of people off buying EVs outright.
Leasing new private and fleet cars might become even more popular, and quite possibly the leasing of used EVs, if only to mitigate the risk of a monumental bill.

Taxation of EVs isn't often mentioned in the media. But it will come.
The loss of duty revenue from ICE cars cannot be sustained indefinitely.

As an aside, all of the above factors will have an effect on residual values of mid-life EV cars. Would you buy new if your investment became worthless after seven or eight years?

Finally, for now, some people will always yearn for the internal combustion engine. But I don't think this will have much effect in the long term.
Their number is a relatively small percentage of the population even now, and it will only decrease as fewer youngsters grow up with an ICE in their lives.
 

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Not just cars, i asked about a price on our caravan and the site said can probably go to £5,000 higher than book price.
 

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Here's another "asking for a friend" type theoretical question.

Relating to the amount that used car prices have increased over the last 12 months. That means many 3-4 year old cars are currently trading for prices not too far short of what they were listed at for P11D value when new. Question is what happens if you buy one now, then the market returns to "normal" (whatever that is?) over the next 12-24 months? So your 4-5 year old car is then worth a LOT less than when you bought it? Just like a new car would depreciate over its first 1-2 years.

Would GAP insurance cover the difference? Even on a car bought used?
Not being familiar with GAP insurance, or buying a car of my own from new, I'm not sure how to advise my friend? (I just had 20 years driving "new" company lease cars over periods of around 2-3 years each. So their ownership costs were all part of the monthly lease, including maintenance. Hence not my direct concern).
Does the current state of the market make GAP insurance for used cars more worthwhile?
Does GAP only really become worthwhile if you trade the car on in 3 years time?
OR (perhaps more crucially) if it was written off, but there is a huge difference between what you paid and what the regular RTA insurer values it at the time? Does GAP still kick in, in that scenario?
Is GAP worthwhile if paying for a car outright, up front. Rather than through a finance package?
Is GAP still worthwhile if my friend plans to keep the car for 8-10 years?
Is it better to buy GAP from the selling dealer or independently, online? (Moneysupermarket / Martyn Lewis suggests the latter)?

So many questions! My friend is perplexed? :unsure:

What do YOC members reckon?
 

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Discussion Starter · #95 ·
Here's another "asking for a friend" type theoretical question.

Relating to the amount that used car prices have increased over the last 12 months. That means many 3-4 year old cars are currently trading for prices not too far short of what they were listed at for P11D value when new. Question is what happens if you buy one now, then the market returns to "normal" (whatever that is?) over the next 12-24 months? So your 4-5 year old car is then worth a LOT less than when you bought it? Just like a new car would depreciate over its first 1-2 years.

Would GAP insurance cover the difference? Even on a car bought used?
Not being familiar with GAP insurance, or buying a car of my own from new, I'm not sure how to advise my friend? (I just had 20 years driving "new" company lease cars over periods of around 2-3 years each. So their ownership costs were all part of the monthly lease, including maintenance. Hence not my direct concern).
Does the current state of the market make GAP insurance for used cars more worthwhile?
Does GAP only really become worthwhile if you trade the car on in 3 years time?
OR (perhaps more crucially) if it was written off, but there is a huge difference between what you paid and what the regular RTA insurer values it at the time? Does GAP still kick in, in that scenario?
Is GAP worthwhile if paying for a car outright, up front. Rather than through a finance package?
Is GAP still worthwhile if my friend plans to keep the car for 8-10 years?
Is it better to buy GAP from the selling dealer or independently, online? (Moneysupermarket / Martyn Lewis suggests the latter)?

So many questions! My friend is perplexed? :unsure:

What do YOC members reckon?
It depends what GAP policy you get.

If you get a cover for the invoice price they will cover the difference between what the insurance payout and what you paid.
 
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Discussion Starter · #96 ·
Here's another "asking for a friend" type theoretical question.

Relating to the amount that used car prices have increased over the last 12 months. That means many 3-4 year old cars are currently trading for prices not too far short of what they were listed at for P11D value when new. Question is what happens if you buy one now, then the market returns to "normal" (whatever that is?) over the next 12-24 months? So your 4-5 year old car is then worth a LOT less than when you bought it? Just like a new car would depreciate over its first 1-2 years.

Would GAP insurance cover the difference? Even on a car bought used?
Not being familiar with GAP insurance, or buying a car of my own from new, I'm not sure how to advise my friend? (I just had 20 years driving "new" company lease cars over periods of around 2-3 years each. So their ownership costs were all part of the monthly lease, including maintenance. Hence not my direct concern).
Does the current state of the market make GAP insurance for used cars more worthwhile?
Does GAP only really become worthwhile if you trade the car on in 3 years time?
OR (perhaps more crucially) if it was written off, but there is a huge difference between what you paid and what the regular RTA insurer values it at the time? Does GAP still kick in, in that scenario?
Is GAP worthwhile if paying for a car outright, up front. Rather than through a finance package?
Is GAP still worthwhile if my friend plans to keep the car for 8-10 years?
Is it better to buy GAP from the selling dealer or independently, online? (Moneysupermarket / Martyn Lewis suggests the latter)?

So many questions! My friend is perplexed? :unsure:

What do YOC members reckon?
Here's a quote for 3 years for £15k with Directgap.

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Have been looking to find a Yeti to replace my 2016 Yeti with 30000 miles that was written off last week whilst parked in disabled parking space at side of road. The prices of used cars have gone up and whilst looking came across a 2015 lower spec model than mine with 37000 at a higher price than what I paid for mine in 2017.Because of shortage of new cars prices are going up and have found dealers are not prepared to knock anything off advertised price. Looks as though I am going haggle with insurance company to get best settlement figure
 

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Because of shortage of new cars prices are going up and have found dealers are not prepared to knock anything off advertised price.
Sorry to hear about your 2016 Yeti dustrat. That's a big "Ouch". In senses of both damage to the Yeti, and potentially the wallet.

Absolutely correct on the "no haggle on price". That's what my friend says. Both dealer and buyer know, that if the buyer chooses to walk away at the asking price. There'll be another punter along within a couple of days, who is perfectly willing to pay the price on the windscreen.

Its a bit like buying houses in that respect. Pass it up today and regret losing it later.
 

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Here's a quote for 3 years for £15k with Directgap.
Thanks LL. That's very helpful (for my friend to know ;))
Have you dealt with DirectGap yourself? Do you know what they're like?

Closer to £20k now though, for a Yeti same age and similar spec to yours with extremely low miles.
If you plug your reg and mileage into the "Value my car" page at Autotrader.co.uk, it could be interesting to see what range they quote for buying as distinct from selling.
 

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Discussion Starter · #100 ·
Thanks LL. That's very helpful (for my friend to know ;))
Have you dealt with DirectGap yourself? Do you know what they're like?

Closer to £20k now though, for a Yeti same age and similar spec to yours with extremely low miles.
If you plug your reg and mileage into the "Value my car" page at Autotrader.co.uk, it could be interesting to see what range they quote for buying as distinct from selling.
Yes I've used Directgap a few times but luckily never had to claim. They are well reviewed though.

I did the autotrader selling thing. (I've been offered a bit more by Skoda £19500)

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