Hi all Parramatta Eels brothers and sisters,
I have a question which is slightly off NRL discussions and hope you all don't mind.
Has any one else seen how much the car yards have put the prices of cars up???
Ive been looking for a while starting last year and every New car, 4Wd, van etc has gone up between $3000-$12000 in the last two months, here are just a couple of examples (I couldnt list them all as its every car)
Ford Ranger XLS, on Wednesday just gone (3 days ago) was $49,000 drive away on the Friday when I started looking again $59,000 drive away, WTF thats a $10,000 increase overnight!
Nissan Navara up $6000
Mazda 3 up from $28,000 drive away now $32,990 drive away
This is just 3 examples, it's across all cars 4Wds etc and now the used car market has put up all the prices of all their used cars.
what this means is, eg: a used car normally has $1-$4000 dollars profit now they have $4000-$10,000.
Heres two important things Australian's need to know.
1: A trade in is still being valued at Pre or early Covid prices so even if you bought the exact car you were driving you would pay $$$ thousands more.
2: If you buy a new car for $10,000 more than what it was a month ago you are going to get a shock in 1 years time when you go to insure it again, basically you will lose the $10,000 extra you paid and then the insurance company will base the 2nd year's car value on the original amount minus depreciation!
So, eg: if you Pay $59,000 for a brand new Ford ranger XLS which is $10,000 over retail normal price your second year car insurance value according to insurance companies will be roughly $34,000-$40,000, Thats $20,000 loss in 12 months.
And yes the semi-conductor micropchips shortage due to factory workers in china not being able to go to work for 3 months has slowed down car manufacturing, but dont think for a second the car yards haven't seen this as an opportunity to raise the prices of all cars and if I was wrong the used car market would not have gone up.
So if you are in the market for a new or used car please be very very careful because a lot, in fact a hell of a lot of people who are buying cats right now are going to get burned and lose a whole lot of money.
thanks
Replies
Stock is very low, so prices are at a premium.
4wd, camping and Caravans have gone through the roof as the restrictions on overseas travel extends. Shares in 4wd accessories have more than doubled
Not only cars prices. This seems like its a wide ranging thing. The prices of products in Bunnings increase almost daily. Some things by 100%. Check out the prices of timber & plywood. All red meat has increased in price by atleast 25% recently. Diesel has risen from average price $1.20/l to $1.44/l in sydney. Even the budget servo's are asking $1.34/l.
On what basis can these increases be justified?
We are being robbed every minute of every day.
Enough is enough. Its time for the people to rise up.
People will rise up if you take their internet and social media away. Until then, they'll just bitch about it on those platforms in capitals. It's how people vent these days.
Yep, the materials I use have gone up 20% in the last 3 months .
but there is no inflation.
Okay, so I worked in the industry for quite a while and can honestly tell the you car yards are absolutely gouging people and these people paying hige overs are going to be absolutely shocked in 12 months when they go to sell or re-insure their vehicles, yes it is everything, but how can 4Wd accessories go up, they don't have microchips! This is absolutely cashing in on a terrible situation and gouging Australian's
I got a new Honda a few months ago
I think I must have just got in before this nonsense
I agree though everything is highway robbery rip offs these days
except for Aldi ,I could live in Aldi so many bargains
I traded my car in and got a fantastic deal on a 3 yr old sports car in April 2020 when the country was in lockdown. I think I gouged the car yard. Might have got lucky with timing.
You didn't beat the caryard mate . That's like a pokie player thinking he knows the trends of a poker machines payouts .
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