The Joys Of Nostalgia Driven Used Car Markets

Lots of unhelpful “Chit Chat,” advice and noise of late concerning used car markets and what used car businesses should and shouldn’t be doing, especially when it comes to used EV’s; most of which of appears to come from those with vested interests in the project but from outside of the automotive sector, and with little or no experience in used car markets, or how they operate in practice.

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So rather than delving into my predictions for this market (used EV’s), I thought I would bring some joy to those taking the time to read this post and explore some other used car markets; those evolving and growing entirely due to the dynamics playing out in the new car market; those which are driving great change in used car markets in the UK.

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So why discuss these used car markets? Well because they are more traditional in their trading behaviour and the growth of these markets over the last 2 years has been staggering; due in no doubt (I think) due to the narrative surrounding Net Zero and “All Things” the EV project.

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And let’s discuss the “Elephant In The Room;” the EV project and the associated government legislation (regardless of what you feel about it), is stalling in new car markets, failing in the associated used car markets and therefore driving great change in both new and used car markets.

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The reality is that for many consumers (those not convinced by the EV ownership proposition – of which there are many), they can probably no longer purchase the car they are currently driving; as a consequence consumer purchasing behaviour is changing, along with the way that many consumers now look at personal car ownership.

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And this is an important understanding, in terms of how it is driving changes in certain used car markets, all of which appears to be lost on those aligned with the sale of EV’s. I justify this by adding some context; as a disruptor of used car markets for over 25 years I continually look at used car markets for commercial opportunity; part of the process of which involves due diligence on the trading models of the manufacturers operating in the used car markets I am targeting.

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Over the last 1-3 years this has involved a host of new EV manufacturers (the likes of Polestar and Tesla) and the associated used car businesses aligned with EV’s. What has been staggering to me during this process is just how few Automotive Professionals (especially proven used car professionals) are involved in these businesses; something that will no doubt be at the foundations of collapsing values for used EV’s.

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Anyway, back on Planet Earth the unhelpful “Trading Dynamic” of “All Things” Net Zero and the charge towards EV’s (in new car markets), has resulted in those used car markets that offer the consumer the cars they want to purchase being very busy indeed. In fact the trading dynamic of some of these markets is like nothing I have seen since the late 80’s and early 90’s; what I affectionately call the period of the “Wild West” for used car markets.

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So rather than write about a used car market full of doom and gloom (used EV’s), as well as one lacking in opportunity for all involved, I thought let’s discuss those used car markets that are both buoyant and supplying cars where there is genuine demand; many of which are not catered for by franchised dealer networks.

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Over the last 12 – 24 months I have witnessed a lot of change in purchasing behaviour in some used car markets, one of which has been what I affectionately call the affordable roadster market. A fascinating market to me and one that in order to understand, we have to go back to the late 90’s/early 00’s.

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During this period the new car market saw a new market emerge, one that had been previously only supplied by the Maxda MX5 and a few other low production models; the Fiat Barchetta being an example. Suddenly though, and from 1997 onwards, the market saw a plethora of new 2 seater roadsters coming to the market, many of which are still in production today; cars like the BMW Z3 and Z4 Roadster, the Mercedes Benz SLK and the Porsche Boxster.

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Many aspiring owners though missed out on the opportunity to own one of these cars when they were first launched, but 20 years later (and whilst older) they are returning to this market and like me, are astounded at the value on offer. It is important to remember that if we go back to the late 90’s and customers were looking to buy a 20 year roadster, it would’ve have invariably meant that they were looking at a late 70’s/early 80’s MG Midget; not a car that could be relied upon to deliver upon the dreams of reliable roadster ownership.

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The cars now available are a totally different ownership proposition and although it takes much skill and knowledge to acquire the very best examples, these new breed of German manufactured Roadsters offer a very different ownership proposition and at remarkably low prices; rather like the example above.

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BMW Individual Production Z4 2.0 Sport.

Stratos Grey with Champagne Nappa Leather.

Antracite door panels and carpets with Champagne Nappa Leather door inserts and Champagne piping to the over mats.

Black Piano Wood trims to dash and the transmission tunnel.?

62,000 Miles with a comprehensive service history.

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With this specification (one normally only available on top of the range M Power cars at the time – M5 and M6)), this BMW Individual production example is likely to be one of a kind; although even BMW can’t confirm this.

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Currently the best examples (ones like this) can be acquired for budgets between ￡5,000 and ￡7,500, as can the best examples of similarly aged Porsche Boxster’s and Mercedes Benz SLK’s; SLK’s are generally cheaper, although not by much. How long this will remain the case I’m not sure; this is one of the used car markets I am very active within, in terms stock acquisition and on behalf of customers, and it has been interesting to see (as the market became active again in March), that prices are 10% up on those I was paying last year; both for myself and on behalf of friends and customers.

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The Z4 2.0 Sport listed above for example is available for ￡4,495; anyone wishing to know more information about the car can feel free to contact me; but be quick, they do not hang around for long.

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Why do I think these cars are so popular; well they represent tremendous value and bring motoring colour to peoples’ lives, on a budget that is affordable. They are 15 to 20 years old now so as consequence will not fall under any warranty programmes, leaving them ignored by franchised dealer used car operations and the more volume (sales) based used car supermarkets.

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From March to November I will acquire for myself as many of the right examples that I can, as well as acting on behalf of qualified clients to find them the very best examples that their budget will allow. Anyone wishing to discuss the car featured or to explore how I can help them source the car they are looking for, can feel free to contact me directly via the platform.

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