Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 Used car price - stuck at this level?

views
     
TSLostAndFound
post Mar 7 2023, 04:02 PM, updated 3w ago

Look at all my stars!!
*******
Senior Member
5,208 posts

Joined: Jul 2005
From: UEP Subang Jaya



Current used car prices are significantly higher than just a few years ago (esp pre pandemic). Demand squeeze, chip shortage, extremely long delivery times for popular new-car models, there's a whole list of reasons why.

Maybe I'm a bit older, but I remember the "30% depreciation from driving out of shop" period, where those who want to save money should just look for a 5-7 year old myvi and buy it for cash. But now that 5-7 year old myvi could cost you up to 50k (mytukar/carsome). In general there seems to be less than 50% depreciation over 7 years.

Is this the new normal, or can we expect used car prices to come down (relative to new car prices, not necessarily in absolute terms) anytime soon?
scorgio
post Mar 7 2023, 04:04 PM

Look at all my stars!!
*******
Senior Member
4,463 posts

Joined: Jan 2005


Will come down when new car supply normalize.

Back in 1993-1995 or so, used car dealers one shot order 5-10 units Proton Wira & keep in their yard.

Whoever wants pay 10% higher than new car price to get immediate stock. Buyer will be 2nd owner though.



This post has been edited by scorgio: Mar 7 2023, 04:07 PM
nomoredfox
post Mar 7 2023, 04:07 PM

Getting Started
**
Junior Member
298 posts

Joined: Sep 2007
From: Currently Penang
together with high inflation & higher new car price.... i believe used price will stay for long term....
TOMEI-R
post Mar 7 2023, 04:10 PM

Extraordinaire
*********
All Stars
23,131 posts

Joined: Mar 2007
From: Kuala Lumpur


QUOTE(nomoredfox @ Mar 7 2023, 04:07 PM)
together with high inflation & higher new car price.... i believe used price will stay for long term....
*
Correct. New car pricing are increasing very much rapidly. Coupled with shortage of stocks of spare parts and supplies, its going to continue to drive prices up even further.
ikeiyou
post Mar 7 2023, 04:12 PM

Getting Started
**
Junior Member
115 posts

Joined: Nov 2022
yup. used cars are in high demands, weirdly.
But thats good as when we sell our own cars, we can ask for higher price too

This post has been edited by ikeiyou: Mar 7 2023, 04:14 PM
Chrix
post Mar 7 2023, 04:37 PM

Enthusiast
*****
Junior Member
933 posts

Joined: Nov 2006
its all relative
if buying price too high
if selling worth to sell

you cant change reality, thus ensure what is one self affordability and spend within that.

no one can predict future tell u in 5.4weeks used market will reseed back to 2019 trends or whatever.

also your sample size is strictly looking at those vehicles only, look at broader market some cars never appreciate in price, some does.

This post has been edited by Chrix: Mar 7 2023, 04:37 PM
joey2000
post Mar 7 2023, 04:39 PM

Casual
***
Junior Member
363 posts

Joined: Sep 2005
The market will adjust itself within few months.
Just don't buy if you still got car to use.
overfloe
post Mar 7 2023, 04:41 PM

Ain't nothing but a thang..
******
Senior Member
1,950 posts

Joined: Jan 2003
From: stankonia
a few months? probably adjustment will take more time than that.. new car production is not getting better at the moment.
croydon
post Mar 7 2023, 06:05 PM

Casual
***
Junior Member
426 posts

Joined: Oct 2010
From:


used spare parts price also increased

This post has been edited by croydon: Mar 7 2023, 06:07 PM
gahpadu
post Mar 7 2023, 06:33 PM

Regular
******
Senior Member
1,372 posts

Joined: Dec 2008
Sold my zero downpayment perodua....its 5 yrs old and still got extra rm4k after loan settlement...really surprised how the market for secondhand
TSLostAndFound
post Mar 7 2023, 07:20 PM

Look at all my stars!!
*******
Senior Member
5,208 posts

Joined: Jul 2005
From: UEP Subang Jaya



QUOTE(ikeiyou @ Mar 7 2023, 04:12 PM)
yup. used cars are in high demands, weirdly.
But thats good as when we sell our own cars, we can ask for higher price too
*
Good for those who buy new and sell used to buy new again.

Those who use till very old (my Saga is 14 years old) then that 'higher price' is maybe two tanks of petrol higher only.

At the entry level of market, I can't imagine spending the price for used compared to top up a bit for new. Obviously at higher end import vehicles (with much lower volumes) is a different story.

Or take it another way, prior to pandemic I always told myself, just hold like 20k cash, can buy a decent used car which can last you maybe 5-10 years without major problems. Doesn't seem possible anymore to do that, at that price you're looking at pretty old cars, the decent 5-7 year range can't be found di.
caviars
post Mar 7 2023, 09:58 PM

Regular
******
Senior Member
1,087 posts

Joined: Jan 2006
There is not much choice for new cheap car below RM60K. The only option is Perodua which has long wait time.

Proton has abandoned this segment and focus only high price SUV.

The next option is used car.
Quazacolt
post Mar 7 2023, 10:35 PM

Riding couple
*******
Senior Member
4,981 posts

Joined: Jan 2007
From: KL Malaysia


don't mind me, i'm just waiting for the preaching

"buy new car stupid, warranty is stupid"
"buy used cars good"
"let stupid people absorb car depreciation"
voscar
post Mar 8 2023, 08:18 AM

Regular
******
Senior Member
1,310 posts

Joined: Dec 2005
You haven't see Civic Ketam TCP facelift version, selling at new car Civic E price, and few years back there's discount on tax when the owner bought, so actually same value as their new car during that time
linkinstreet
post Mar 8 2023, 10:38 AM

Red Bull Addict
Group Icon
Moderator
8,989 posts

Joined: Jan 2005
From: KL. Best place in Malaysia. Nuff said

QUOTE(caviars @ Mar 7 2023, 09:58 PM)
There is not much choice for new cheap car below RM60K. The only option is Perodua which has long wait time.

Proton has abandoned this segment and focus only high price SUV.

The next option is used car.
*
Saga still has what? and I rather have a decent handling Saga if I want to invest in something below RM50K
TheOnly
post Mar 8 2023, 07:40 PM

Getting Started
**
Junior Member
64 posts

Joined: Oct 2017
Normal la.

You want to see crazier car who retain 2nd value extremely well - look at peformance cars.

Bmw m2 to 4’s, amg v6’s, vw golf gti/r’s, real civic type r those range of actual drivers car.
TSLostAndFound
post Mar 9 2023, 11:11 AM

Look at all my stars!!
*******
Senior Member
5,208 posts

Joined: Jul 2005
From: UEP Subang Jaya



Unfortunately those cool cars ya'll discussing are not my price range at all. Also true for majority of Malaysian market who are stuck at Axia/Saga to Vios/City price ranges.
unitron
post Mar 9 2023, 11:42 AM

W1(R)3d
*******
Senior Member
2,629 posts

Joined: Jan 2003
From: In the shadows behind you


QUOTE(Quazacolt @ Mar 7 2023, 10:35 PM)
don't mind me, i'm just waiting for the preaching

"buy new car stupid, warranty is stupid"
"buy used cars good"
"let stupid people absorb car depreciation"
*
I'll help start...
If buyer poorfag with trusted mechanic... just buy used.
If got lotsa $$$$... buy whatever... classic, new, used, etc

On a related note :
Boss - bought new Mini countryman for the missus
My doc - bought new HRV
Cousin - bought new BYD Atto 3
colleague (age mid 30s) - bought used 13 yrs old Accord
me - hmm... maybe i should change car drool.gif .... "look at outstanding loans amount owed to bank" sweat.gif ... just drive my old junk sad.gif

QUOTE(LostAndFound @ Mar 9 2023, 11:11 AM)
Unfortunately those cool cars ya'll discussing are not my price range at all. Also true for majority of Malaysian market who are stuck at Axia/Saga to Vios/City price ranges.
*
yup... can't afford anything above 90K.
Quazacolt
post Mar 9 2023, 01:08 PM

Riding couple
*******
Senior Member
4,981 posts

Joined: Jan 2007
From: KL Malaysia


QUOTE(unitron @ Mar 9 2023, 11:42 AM)
I'll help start...
If buyer poorfag with trusted mechanic... just buy used.
If got lotsa $$$$... buy whatever... classic, new, used, etc

On a related note :
Boss - bought new Mini countryman for the missus
My doc - bought new HRV
Cousin - bought new BYD Atto 3
colleague (age mid 30s) - bought used 13 yrs old Accord
me - hmm... maybe i should change car  drool.gif .... "look at outstanding loans amount owed to bank"  sweat.gif ... just drive my old junk  sad.gif
yup... can't afford anything above 90K.
*
party.gif

Lol you VW liao how to poor jek
My car already 10 years old , truly old and busted tongue.gif
unitron
post Mar 9 2023, 02:33 PM

W1(R)3d
*******
Senior Member
2,629 posts

Joined: Jan 2003
From: In the shadows behind you


QUOTE(Quazacolt @ Mar 9 2023, 01:08 PM)
party.gif

Lol you VW liao how to poor jek
My car already 10 years old , truly old and busted tongue.gif
*
also 10 years lah... plastic and rubber rotting away, engine oil leak, coolant leak. But no CEL. laugh.gif
thankfully got made in china spare parts.

Your FE cannot be 10 years right tongue.gif

2 Pages  1 2 >Top
 

Change to:
| Lo-Fi Version
0.0132sec    0.49    5 queries    GZIP Disabled
Time is now: 1st April 2023 - 01:36 PM