My friend mentioned to me last week that the value of his car had rocketed in recent months. He’s coming to the end of his lease and his car is worth £2000 more today than it was 6 months ago.
As a result I just looked up my car on Autotrader. I bought my car in August 2019. Cars with the same spec, same age and mileage now are now priced £1500 - £2000 higher than I spent two years ago.
Does anybody have a clue what the reasons are behind this rise? Is it just down to the semi-conductor shortage increasing demand for second hand cars?
I don’t think it can be as my car is over 6 years old now so I think it unlikely that its price will have risen as a result of unfulfilled demand for new cars.