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Pabadabs



Member Since: 25 Aug 2021
Location: Glasgow
Posts: 6

Scotland 
When are prices going to drop?
Hi all. My first post on this forum, but a fairly long time Disco3 member, hoping to move on to a new Defender one day. Couldn't see an introduce yourself section so doing it here.

Email (paid Gmail ad) from Pentland popped into my mailbox this morning....

Link:
https://bit.ly/3pxumMa

Three of their ten listed Defenders show discounts around 5%, so is this just click bait i.e. one dealer rejigging a few vehicles to get some quick sales or a sign used prices are turning the corner?

Image:

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Post #932706 7th Dec 2021 10:00am
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kenzle8a



Member Since: 12 Feb 2020
Location: None
Posts: 1074

 
When supply starts out stripping demand, however this could be a while as a lot of car makers have realised that creating an artificial supply bubble and ensuring the demand for their models is doing well for the dealers come resale seems to be working for them, for now.

Looking at Pentlands stock you can see bubblenomics in action when you can get a 2017 RR Vogue for less than half the price of a similar Defender.
Post #932710 7th Dec 2021 11:12am
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Pabadabs



Member Since: 25 Aug 2021
Location: Glasgow
Posts: 6

Scotland 
Seen others remark recently on the (relative) value FFs represent in the current market. Haven't pictured myself in one since since buying my D3 though. Still can't without a warranty.

Despite the huge love I have for my D3 the Discovery range doesn't interest me at all, and I'm not brave enough for a used or careless enough for a new FFRR.
Post #932723 7th Dec 2021 12:56pm
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markb110



Member Since: 22 May 2010
Location: Guildford
Posts: 2644

England 2002 Defender 90 Td5 HT Epsom Green
Didn’t BMW recently say that they weren’t looking to increase production to maintain profits…..
Post #932739 7th Dec 2021 2:41pm
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kenzle8a



Member Since: 12 Feb 2020
Location: None
Posts: 1074

 
I did hear that too about BMW, I suspect theres a clever account somewhere whos worked out model cost (sales) - Profit - Warranty Costs - Re sale through dealer values and has found that selling a lot of cheap cars with things that go wrong dents the ballance sheet.
Post #932763 7th Dec 2021 6:26pm
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Pabadabs



Member Since: 25 Aug 2021
Location: Glasgow
Posts: 6

Scotland 
That's the gist of what I read too. BMW responded to the fact buyers are waiting for cars and not haggling for discounts. It clearly makes sense to focus on higher margin models when you can't build 'em fast enough if the margins are multiplied. One source has their pre-tax profits up 38% on 12% lower sales.
Post #932767 7th Dec 2021 7:01pm
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kenzle8a



Member Since: 12 Feb 2020
Location: None
Posts: 1074

 
I do think that since most of them are bought 1st and 2nd hand through the same dealer on Lease there is a limited ability to negotiate now and the given the cars are owned largely by BMW Finance UK the incentive to keep demand high and thus maintain residuals is the game.
Post #932768 7th Dec 2021 7:03pm
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markb110



Member Since: 22 May 2010
Location: Guildford
Posts: 2644

England 2002 Defender 90 Td5 HT Epsom Green
Exactly, and if you think about it, someone coming to the end of their three or four year PCP lease would be stupid to keep it, take out a personal loan and interest payments to continue to pay for a vehicle that will tip the balance and will be worth less than the loan once repaid. Not to mention risk a modern vehicle going out of warrantee.

So what do you do with the current delays, pay a deposit well in advance to go new, hand back the original at the end of the PCP and walk away to look for a cheap run a round or start a new lease at the dealer with an 'approved' car they can take away a few days later.

Had to laugh when passing our local Jaguar dealership recently, in pride of place in the window is a ....Porche.......

They will be selling electric scooters next.
Post #932784 7th Dec 2021 8:08pm
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pjm-84



Member Since: 12 Apr 2021
Location: Hampshire
Posts: 662

United Kingdom 
I easily managed 8.9% off an new BMW X545e
Post #932787 7th Dec 2021 9:05pm
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mse



Member Since: 06 Apr 2008
Location: UK
Posts: 5038

United Kingdom 2016 Defender 110 Puma 2.2 XS CSW Scotia Grey
Ive said before, it helps (except our pockets) if supply isnt in weeks...as second hand car prices just mean we all loose when buying new

That said, my sister is selling her DS and they said 2nd hand prices are starting to reduce. I did think is the sales BS...but supply is improving Mike
Post #932822 8th Dec 2021 11:25am
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RDR



Member Since: 27 Apr 2018
Location: Derbyshire
Posts: 592

United Kingdom 
sales BS had similar comments from dealer as he walked around mine last week with his iPad. I pointed out the D5 HSE on the forecourt I saw the week before had increased in value by £2k according to the sticker. 110 MY23.5 X Dynamic HSE
RR MY23 HSE PHEV
D5 MY19 HSE - Now Sold
D4 MY16 HSE Luxury - Now Sold
D4 MY12 HSE - Gone
D3 MY06 S - Gone but not forgotten
Post #932827 8th Dec 2021 12:21pm
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Tim in Scotland



Member Since: 23 May 2007
Location: The Land that time forgot
Posts: 3753

 
WBAC offerings are softening as well - I’ve covered 32 miles in mine in the last 11 days and the updated value has dropped from £68000 with 14500 miles 2 weeks ago to £61500 this morning. Pangea Green D250 90 HSE with Air Suspension, Off-road Pack, Towing Pack, Black Contrast roof , rear recovery eyes, Front bash plate, Classic flaps all round, extended wheel arch kit and a few bits from PowerfulUK Expel Clear Gloss PPF to come
2020 D240 1st Edition in Pangea Green with Acorn interior. Now gone - old faithful, no mechanical issues whatsoever ever but the leaks and rattles all over the place won’t be missed!
Post #933047 10th Dec 2021 9:10am
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J77



Member Since: 04 Nov 2019
Location: Fife
Posts: 3410

Scotland 
Mines dropped a grand, I’m very tempted to cash it in. I’ve been looking at a couple of Volvos but they are worse than LR for delivery times. 24MY 90 D250 HSE, Tasman Blue
Post #933114 10th Dec 2021 6:06pm
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mse



Member Since: 06 Apr 2008
Location: UK
Posts: 5038

United Kingdom 2016 Defender 110 Puma 2.2 XS CSW Scotia Grey
And ultimately a Volvo, nothing special Mike
Post #933122 10th Dec 2021 6:58pm
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nowrxo



Member Since: 10 Sep 2015
Location: None
Posts: 79

 
Prices always go down around this time of year. Usually they start going back up again in January once people have paid off their Christmas credit card bill. However this time, there's the Omicron factor, and the new "work from home" advice from that floppy-haired man in Number 10.

My 2019 Golf is showing the same price on WBAC's sister site Cinch (pick a random car, and enter your current registration to get a P/X valuation) as it was a couple of weeks ago.
Post #933137 10th Dec 2021 9:00pm
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