Is The Used Car Market Crashing?! | Ep 13 | Drive Torque Podcast
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- เผยแพร่เมื่อ 21 ก.ย. 2024
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Welcome to the Drive Torque Podcast, join @PetrolPed and @JoeAchilles1 to talk all things Automotive, we will bring you two episodes per month, special guests and live shows too!
#petrolped #joeachilles #usedcars
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Cheers and see you at the next one 👊
One of my favourite episodes, love the back drop and location too, cheers Podium Place once again ♥
Joe soo glad you won't talk about Tesla's! My soul dies every time I go to a service station and sees a line of differently coloured Tesla's charging. Bring on hydrogen and plenty of noise!
Enjoyed all of that. And the second hand chat...
I financed a rusty 20 year old MX5, I put down a £2000 deposit, then zero a month for a long long time! 😎👌
Another great podcast guys. I do get Joe’s reaction (despite owning a Model 3) but for me it comes down to uses. A Tesla is spot on for the day to day. So easy to live with and if you travel for work etc. It takes any hassle (and a lot of the cost) out of that. There is no way in hell however I would take it out for a ‘fun’ drive. That’s why you own a Porsche as well. Because you save so much on the day to day running a Tesla, it makes owning a Porsche for weekend fun very feasible and pretty cost effective. Like anything in life, you can get the best of both worlds if you open your mind to all options.
Good points about car prices, it’s the ‘perfect storm’. Those coming out of pcp deals will look to buy in cash in the sub £20k market, and the 50k-250k new market will be in rough waters. New prices up around 20%, interest rates over 10%, sales down; we might start seeing old school 7 series style discounts on new mainstream cars to shift numbers. That e-tron GT will have lost even more than the £20k, as that ad will be retail price, and the previous owner will have only got the lower trade price from the dealer.
That M8 has been reduced even more since this was recorded! Prices have dropped off a cliff on these. The Gran Coupes are the same too
Yes 74k now, but got to say its one ugly car.
72000 now, 70000 next week, how low can it go?
Great podcast to help me relax at night! On the note about car finance....my previous Giulia QF, £6k down 3 years PCP 10k a year £700 a month, yes a lot of money but in view of the fact a new one has a down payment of £17k! 8k a year, £783 a month...forget it! M3 Comp, £4.5k down, £1171 a month over 4 years...The difference in price comparing mine in 2017 vs 2023 is circa £15k extra over 3 years. The world has gone mad.
I know Podium Place in Newbury well!! Just down the road from me, great coffee! ☕️☕️👍
Brilliant chaps. These podcast are great. The chemistry between you two is so natural and the topics you are covering are great. It's just like having a chat with mates in the pub, without the inappropriate language of obviously. Fantastic, keep up the good work.
Companies buying EVs, claiming the VAT, writing off the cost against Corporation Tax…then writing them down 25% per year and the net result after 3 years = a shit ton of cheap EVs being sold as they are peppercorn on the book.
Love Joe's reaction when talking about Tesla, I would have done the same thing, freaking loved it!!!!!!!!!!!! A car channel shouldn't be talking oversized remote control toy cars.
Yeah that section was so dull
what a lovely backdrop
Wonderful isn't it 👌
Great chat - the problem with the Audi A8 is that within a year from now that 50k will be 30k when you want to trade it ! No one paid anywhere near the list price a year ago!!
Big respect to Joe for walking away during the Tesla shit.
Glad others have the same reaction....fab reaction Joe!
because he is stupid?
Worrying about putting miles on your car, is such a pommie thing. I've never understood it. Did you buy the car to drive, use and enjoy, or are you so tight that you want to hang on to whatever residual value it might have when you let it go, only for the next owner to enjoy the benefits of your miserly usage?
Well done guys for this great podcast. You just don’t see the time fly! Astonishing examples! On the other hand, affordable cars that interest most people hold on to their value… Cheers, Tom.
While the M8 might be a bit on the extreme end, this sort of depreciation was the norm for luxury cars since forever. The last 3 years were the anomaly. People that upgraded into luxury cars based on the absurd used car market are in for a surprise
Great episode although I did get some weird looks when walking the dogs laughing and guessing car prices out loud 😂
😂😂😂😂👌
M8 was £128565 new still the owner took a big bath. Loving the pod casts guys
I 2nd the Audi A8 as a used buy. We picked up a low mileage 18 month old A8L back in 2020 for £39k. Amazing value and superb way to do all the boring travel, which lets face it is most of it. i would allow for a £600/ year extended warranty, but touch wood no troubles in 3 years
Muscling in on SeenThroughGlass territory lol
The M8 is down to £72k now. Another 4k off its value in 2 weeks 🤣
I paid more for my Jaguar X-Type than it was worth but I got offered more part-ex for my Tiguan than it was worth and it was a heap so I just wanted rid so the net figure was perfect for me overall.
Great podcast as always. Interesting conversation about the 1M values. 12 years ago I saw a new 1M in black sat at the dealership for £40k and wondered about it. At the time the reviews weren’t actually that great (not a proper M car, lethal in the wet etc) so they weren’t selling that well either. 3 years later I regretted it because used with average mileage they were still £40k. I could have had 3 years of fun for just the price of fuel, insurance and PCP interest (a couple of percent). And of course by then everyone was say what a great car they were!
I'm sorry I think my headphones broke but it sounded like Joe said a VW Estate was £68k?
😂😂😂
Interestingly, on the 1M subject. £40k in 2011 is now £58k in 2023 according to BoE inflation calculator. Factor in £2k pa services, insurance, and that's £24k on top. So the 12k mile car at £58k has actually cost the owner £2 per mile to own, excluding petrol. Not the profit it looks like at first glance and therefore a relative good buy now at £40k ???
Only just seen this ep. That red M8 still for sale only £72k now! 😜🙈
Cars are tanking all over the place. Saw a DBX707 Q Edn this week, less than 10 months old, and less than 3,000 miles, has sat on the forecourt for more than half its age and has lost approx. £30k / c.15% (retail asking vs. list) in that time. That's nearly Culinan / Phantom levels of depreciation. And it's still not sold....
Miles out Ped on Harris’s M5 CS. It went for £111k.
Great episode ! Loved it! Got a porsche 911, thinking of buying a second hand M8😂
Great podcast, and as a Joe's fan of course subscribed immediately. But guys, may I please ask you to properly pronounce brand name "Tesla"? As a Serbian (as Nikola was), it is really necessary not to hear Z in his last name consequently brand name. It is pronounced TeSla, not TeZla. Thanks.
How to make a small fortune buying and selling cars? Start with a large one!
Very interesting topic defo do another one of these!
Please “Stop” talking about Tesla’s….they are so boring cars…😴
Yeah I had to jump through that section
Great podcast, would be nice to have timestamps.
Well a new M2 in Portugal is around 100.000€.
A GR86? 55.000€
A used M2 N55 ? 50.000€.
UK guys are quite spoiled
Minimum Wage is 760€ sadly.
Also rates and leasing offers are thrash here
Great one again guys.Well done.
Great topic! The conclusion of this is, that you're stupid if you buy a new car, especially if you're a private buyer 🤔 ...or you have such a lot of money that it doesn't matter...
Is the Ferrari California not a folding tin top?
Great purchase second hand
11 y old Mclaren or Ferrari - depreciation is done. Maintenance & repairs probably around £4 - 5k/y, possibly less. I'm running a year 2000 360 and spending about £4k/y (excl insurance, fuel, tax etc.) Do 3000 - 4000 miles a year & probably OK. Leave them sitting around, asking for trouble.
Yet another enjoyable episode. With all that coffee in there, it must smell wonderful!!
Arteon R makes more sense second hand a year old nearly half the price which is more VW kind of money
Why is the small 1 bmw referred as 1M and not M1like the M3,M5 etc
Because there is an M1. Google it. It was a 2 seat sports/supercar 👍
Love to know where you can pick up second hand Teslas for around £20k would still wait until they are sub £15k or better. Just wonder if it have fallen apart by then.😂
Great one guys, poor Joe not into electric at all, well done Patrick for standing in!!
Fair play to Joe for boycotting the Tesla bit.
One more on prices - these are asking prices not actual ones. I expect transactional prices are lower. (Been there very recently)😬
Best game of TopTrumps 👏, even current owners crying at the thought 😢
Let's play again 😂😂
If you get stung by pcp 🤣 unlucky i guess its what happens when you take on something you can't actually afford. Pcp only benefits the car industry. Maybe you should ask Jayemm about getting into supercars 🤣
Totally agree. I was stung by the PCP con in the good times. Never again.
Scary times to be selling and buying a new car on finance 😮
good underlying infrastructure but it isn't exactly a pretty car is it and does a Tesla make you smile which is important about cars if your a Petrol Pad/Head😉
12C not a daft idea, mine was fine after several months of niggle fixing for over 2 years. Get a warranty for a year. 650s is very reliable and not much more
The M8 is now sat at £74500 so it’s getting even lower.
Would love a 1m in white
Such an easy listen but it hurt me to listen to it having bought my electric car a year ago for north of £50k for a 3 year old car and since then it has lost £20k in value, if values continue to fall it will be handed back to the finance company with pleasure.
Hey Joe, 28 is not "really hot". At best, its warm. You pommies are soft.
At least he wouldn't have an issue selecting a gear in a Tesla. Did I just write that. Ooooops. LOL
Car insurance is crippling at the moment🙃
Not if you shop around my friend.
Hahahaha Tesla! 😅
Oh please stop the Tesla promotion!!!
What’s all this Tesla nonsense ? Unless your avoiding company car tax - why would you buy a or rent a boring “beige” car that looks identical to every other Tesla !! I suspect most Tesla owners have a really boring sex life !!! Let’s keep to talking about cars not battery baths ! ❤
EV’s are good for one reason. Company car tax. Business owners and company car drivers love them for it. Private buyers, not so much. As soon as the Gov level up the BIK for EV’s (which will happen eventually) sales will fall off a cliff and the used market will suffer for it (fewer vehicles coming through from fleet sales). That’s my prediction for what it’s worth.
@@beano6452 That’s what I said ! Ha Ha ! 🐥
@@beano6452 as a private buyer (outright not PCP etc) of an EV, I love mine. Not a Tesla either. Very quiet, comfortable and cheaper to run than my wife’s Picanto. Heated and cooled seats, full five seater and really nice to drive. If I want to make noise and go fast, I’ve always got my Ducati. EVs have shown how performance ICE cars are not so much performance, just noise, like the lad who was a bit of a d**k at school😂😂😂
Genuine Feedback here... Electric cars are NOT great cars for the vast majority of car lovers. Yes they may do a job of getting you from a to b in comfort and quietly, but they are soulless and have no qualities of a "drivers" car. Know your audience, I don't want to hear some guy I don't know sit there and tell me how "great" EVs are on what is supposed to be a petrol head/ car lovers podcast. Very close to not bothering with this and I would bet I'm not the only one thinking it.
Genuine Feedback here.... 4 hours after this episode has gone live and it's currently the 2nd most popular episode we've ever produced in over 6 months, therefore your point about our audience is totally wrong and clueless. When did we ever claim or say this was a petrol head only podcast? Peter, Joe and Patrick all have names, none of them are "some guy". My last piece of "Genuine Feedback" would be to find another free podcast that brings you more happiness, this clearly isn't the one for you sunshine ❤️