Toyota used car prices

[Bper]

Hi All,

With the continued rise in fuel and cost of living increases do you think toyota used car prices will drop in the near future. Also how will this impact on owners who purchased cars within the last year and paid higher prices.

[FROSTYBALLS]

No-one seems to know with any degree of certainty when or if used prices will fall or begin to fall.

Conceivably if used prices do fall some owners may find their cars to be worth less and some may possibly be in a degree of negative equity.

It is akin to crystal ball gazing at present.

[Cyker]

I don't think they'll drop in the near future. In fact, I've heard some alarming talk that it likely won't go down - Some people think second hand cars will only continue to go up in value, even when the chip shortage ends, as older cars become scarcer and newer cars become increasingly draconian (Like the mandatory speed limiters in newer cars) and the bulk of people can't afford and don't want them or EVs.

With fuel, there hasn't been a drop in demand which tells the fuel companies they haven't reached saturation point - Some suspect they are seeing what the market will bear and won't reduce prices until the see this drop in demand. The problem is fuel is an infrastructure thing so demand will never go down barring some catastrophe.

A big reason for the rise in the price of everything is purely down to fuel costs - The cost of transport affects everything...

[Hybrid21]

Paid £1.97/ litre today for Esso unleaded supreme in our local garage. 😮

[flash22]

We are all screwed, on the brink of another recession if we are not careful, Ireland has some issues with 5-7 year old Auris hybrids going for €20k

the classic markets are at an all-time high too

On the plus side the amount of Chelsea tractors has dropped where i am that 7-900 a month payment doesn't seem that manageable any more (Surface wealth) and the prices have dropped for that type of car - do you really need a 5.0 V8 or 3.0 diesel to get little Timmy to the school gates

[Cyker]

Annoyingly, I'm seeing the opposite - Gigantic SUVs are at an all-time high around here!!  

They're actually blocking up the roads now as there are a lot of places where two of them can't pass (Usually because ANOTHER SUV has parked half-on the road!) unless someone yields and if there's one thing an SUV driver never does it's yield to oncoming traffic...

It's so satisfying on the occasion when I can thread my Mk4 though without even slowing down and leave them behind  

[Smani]

All I know is used hybrids still rising. When I bought mine last April they had 4 MK4 RAV4 hybrids in stock.  1 month later they had none.

Also when I was considering return the car because of the salesman lies, I tried unsuccessfully finding the same and noticed inferior specs were already higher price than what I paid.

[Hornet3D]

So hard to tell where prices will go as there are so many factors that have an impact on used car sales.  Petrol prices is one factor but there quite a few drivers that really don't want to go down the electric car route and will continue to seek out petrol and diesel cars.     The constraints put on the car makers will also have an impact particularly if further rules restrict the performance of the car.  There are also hidden factors, for example will the cost of living prices force up the cases of catalytic converters being stolen.  If some cars are seen to be favorite targets that could certainly affect the resale value.

From a personal point of view I purchased an ex-demonstrator but benefitted from the high prices of older cars thanks to the high trade in that I received on an eight year old CRV so I can't see I am going to lose out no matter what happens to the prices.