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The second-hand market in a frenzy: is there an opportunity here to make a deal?
The Corona, the chip crisis in the auto industry, the rise in the price of new cars, each of which has contributed its share to the bottom line: the hot used car market.
And does that mean there is an opportunity here for a nice profit, or not?
Tags
Used car
Used vehicle
Second hand
Levy Itzchak
price list
Yoav Falls, carpad
Wednesday, 01 September 2021, 09:17 Updated: 10:21
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The used car market is boiling. How boiling? Boiling until Levy Yitzhak, the company that publishes the familiar price list, announced that it will probably raise the prices of used vehicles in the new price list published this morning. This is in order to adapt it to the reality in which used vehicles are sold for thousands of shekels above the price list because of the high demand. We will quietly tell you that the prices of used cars in the national price list have been rising in recent months with quite a few models, as well as those of the cars in the showrooms.
This is how I wake up on Saturday morning, and receive a phone call from my friend A. who "must consult with you." He tells me that for some time now he has been calling in all places that the used car market "hot, boiling" and used cars are sold for thousands of shekels above the national price list, and it is no longer just the Land Cruiser or Mazda Miata market, but encompasses almost all cars. I ask in spoken Rafi-Reshpit: "A. My friend, where does this meet you?" And he replies that he was thinking of selling his car,A vehicle that is in great demand on a daily basis, and now all the more so.
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(Photo: Nir Ben Tovim, 2nd hand)
Let's think together I suggest to him.
You sold the car for NIS 15,000 above the price list.
And what now?
The options available to you are the following:
1. Buy another used
car 2. Buy a new car
3. Make 'free monthly' for public transport.
A moment he answers me, I was also thinking of a private leasing deal (hereafter option 4).
We analyze the deals:
1. Buy another used car.
I have a hard time understanding the logic.
After all, the new used car (assuming we make progress in the yearbook and do not go back) will also be sold for many thousands above the price list, so what did we do with it?
Can't figure out the logic.
2. A new vehicle is an interesting option, provided the importer can deliver on a reasonable delivery date. In many agencies, importers will find it difficult to guarantee you a new vehicle within a reasonable delivery time. The supply shortage encompasses the entire market, and not just in the country. Entire manufacturing plants are shut down, and the production capacity of the manufacturers is severely impaired (we will leave the reasons for a moment). Allocations to the Israeli market are limited, and importers have to maneuver between the supply of vehicles to the private market, and the supply of vehicles to vehicle fleets. The result is that you as a private customer may encounter delivery problems. Therefore, it is not at all certain that my friend A. will be able to find a real deal with delivery in the foreseeable future, and it is likely that it will be postponed to the first quarter of 2022 at best. Moreover, some importers take advantage of the low allocations to reduce discounts and raise prices. I am not here in the judicial place but the fact. It should be taken into account.
3. Free monthly for multi-line: Wait, the light rail is already finished, by then not really relevant.
4. Leasing transactions - on the one hand, leasing transactions are not cheap transactions, on the other hand see section 2 - no cars.
If the sword is on your neck and you are willing to swallow the dictated compromise from a stock car and not necessarily the one you choose, it might work.
Keep in mind that economics is not.
Land Cruiser is a gold stock, but you also bought the next one above the list price, so what did you gain?
(Photo: Israeli Territory website, Adir Tovi)
Then an order is made
If you have come to the conclusion that the used car is no longer needed, for any reason, and you no longer need this car, and you do not intend to buy another car - it is time to sell your used car.
The 'fire' market.
If in any case you have planned to upgrade the vehicle to a new one, larger or more suitable for the needs - continue with the plans.
In my experience, it is not really possible to schedule the market, do what is convenient and economically right for you, you are not in a place of speculation about the used car market and in this case it is a zero-sum game.
But, if the reason why the idea of selling the car suddenly came up is the market situation, then take a deep breath, drink something and give up.
Upgrading the car to a newer used car - you will receive a few thousand shekels more in exchange for your car, but you will incur an unplanned expense of a few tens of thousands of shekels.
You will feel great that you sold over the price list, and you will be able to tell friends what a great deal you made in selling the car, while you pray that they will not ask you how much you paid for the new-old car you bought.
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(Photo: Reuven Castro, shuterstock)
If in exchange for a few thousand more you decided to upgrade the car and buy a new car from the nylons, again, you got a few thousand shekels more (did that change your situation?) But you spent a few tens of thousands of shekels again, without saying a word about the associated expenses like more expensive insurance.
But there is also another option, if you decide to sell the vehicle and switch to full electric propulsion like Tesla, aiways, Ionic 5, MG ZS electric or others (very soon also Kia), and you made the right calculation of fuel savings and maintenance expenses, and the bonus of a few thousand more Shekels for the old car is the last push to cross - go for it.
Bottom line, if it's an impulsive decision of 'we'll knock the box office' and after the sale 'we'll see what we do', when there is a need for another car - drink something cold and relax.
Do not rush to sell, the market is now sparkling but do not be blinded by it.
More columns by Yoav Falls, on the CAR PAD blog
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