2nd hand LR up 30-40%?

[sjen5]

There is an article in The Age today declaring that 2nd hand car values have increased 30-40% due to corona virus (lack of new cars and lack of desire to go on public transport).
Why you shouldn’t buy a used car right now (https://www.theage.com.au/national/why-you-shouldn-t-buy-a-used-car-right-now-20210409-p57hxj.html)

Is this the experience of buyers/sellers of LR over the past 18 months?

I've noticed less cars for sale on CarSales, whether that is because the stock is moving more quickly, or there is simply less stock I am not sure.

What are others experiences?

[Vern]

I recently got offered 3 times what i paid 18 months ago for my 110. So guess they have.

[scarry]

Depends on the model.
Older model Defenders have increased dramatically over the last few years, particularly Puma models.

There are quite a few D3/4 that have been for sale on here for quite a while, and don't look sold.
Prices of theses models may have gone up 10 to 15%,at a guess.

Its the garden variety vehicles that have had the huge increases, particularly the Jap brand with the big T.
This has mostly been due to lack of supply of new vehicles.

[scarry]

I recently got offered 3 times what i paid 18 months ago for my 110. So guess they have.

The one in my sig was $48K new in 2009,many who have looked at it, and are in the know recon its worth something like $65K,at a guess.
Amazing,really.

[loanrangie]

Some joker is asking for 89k for 2014 110.

[Landy Red]

I sold an fgx xr8 last month for same as what I paid for it in 2018 but with 120k on clock compared to 50k when I got it. I'd call that at increase in value. I expect the 2020.5 model car I have now to hold its value very well due to global chip shortage and resulting manufacturing slowdown and reduced supply to our market especially. Chip shortage will also slow down updated tech roll-out in new models...(meaning cars will outdate more slowly) So I'd say demand for new second hand cars will be strong for a few years yet.

[Fattima]

I paid 3K for my 300TDI Disco a couple of years back and they seem to be selling for around 5-6K now. I bought a Perentie last year in December and have been offered 10K more than I paid for it. Mate just sold his VF SS Commodore that he has had since new for 8K more than he paid for it. Crazy times.

[Redback]

Makes me smile, after buying a new 4WD cheaper than a 2nd hand one, one of only 3 vehicles in the country.

There's a lot of silly people out there willing to buy them though and I'm not one of them, anyone that is willing to pay $89,000 with upwards of 200,000ks on it for a $75,000 car, is a fool.

[Tote]

I recently sold my BF RTV ute for $6200.00. This might not seem much but this was a vehicle that was purchased in 2012 for $14500 with 42000 KM on it and was sold with 305,000KM . It was in OK condition but If I was selling it 12 months earlier I'd have been happy with a couple of thousand dollars plus the value of remaining rego.

Regards,
Tote

[goingbush]

I tend to agree, I bought my '52 Power Wagon last September for $4800 , I just got offered $50,000 for it. and restoration still has a few months to go. not for sale at any price.

[loanrangie]

and look at what some are asking for LC200's, 2008 with 335k asking 65 grand[bighmmm] and that's a cheap one.

[scarry]

and look at what some are asking for LC200's, 2008 with 335k asking 65 grand[bighmmm] and that's a cheap one.

We picked up a new VX five months ago,low $90K,no LCT,it’s definitely gone up around 40% at least.
I don’t want to part with it.

They have always had fantastic resale,but this is just stupidity.
And in 6 yrs time I can’t see anyone wanting a V8 diesel.

A mate just sold a bog stock 2017 Sahara for $25K more than he paid for it new,and it had 120000km on it.
Stupidity if you ask me.