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> cars at end-of-life - it's about three-year-old cars. That sounds so ridiculous to anyone living in the UK. The second hand market here dwarfs all other rout

by tomxor 5y ago

> cars at end-of-life - it's about three-year-old cars. That sounds so ridiculous to anyone living in the UK. The second hand market here dwarfs all other routes to obtaining your own vehicle. I've never bought a car less than 10 years old.

globular-toast 5y ago
Yeah, but the majority of new cars on the road are leased or on finance. A lot of people/companies really do get new cars every three years or so.
- multjoy 5y ago
  Citation needed.
  - dan1234 5y ago
    Looks like new cars account for around 25% of all car sales in the UK[1]. It would seem that of new car sales, 93% are leased[2] > The percentage of private new car sales financed by FLA members in the twelve months to October 2021 was 93.0%, a similar level to the same period in 2020. [1]https://www.statista.com/statistics/299841/market-volumes-of-new-and-used-cars-in-the-united-kingdom/ https://www.statista.com/statistics/299841/market-volumes-of... [2]https://www.fla.org.uk/research/motor-finance/ https://www.fla.org.uk/research/motor-finance/
simonjgreen 5y ago
First owners though tend to hold for 2-3 years as part of a PCP/PCH
samhw 5y ago
I don't quite understand your point: are you suggesting he equated 'end of life' with 'three years old'? He was doing precisely the opposite.
- caoilte 5y ago
  It's completely separate things. They think they've found a way to market 2-3 year old cars as new. It's a good idea, most cars lose a third to half of their value in the first two years. Anything they can eat out of that by changing the seat leather is pure profit
  - Vrondi 5y ago
    Does the UK not already have the "Certified pre-owned" programs that car dealers in the USA have had for decades? You buy a certified pre-owned Ford, GMC, Toyota, etc, and it's a used car that has been inspected and refurbished, coming with a warranty. That's what this sounds like, just with a third round tacked on.
robbiep 5y ago
I took from the article that they are referring to fleet cars, which sounds about right

by tomxor 5y ago

globular-toast 5y ago

Yeah, but the majority of new cars on the road are leased or on finance. A lot of people/companies really do get new cars every three years or so.

multjoy 5y ago
Citation needed.
- dan1234 5y ago
  Looks like new cars account for around 25% of all car sales in the UK[1]. It would seem that of new car sales, 93% are leased[2] > The percentage of private new car sales financed by FLA members in the twelve months to October 2021 was 93.0%, a similar level to the same period in 2020. [1]https://www.statista.com/statistics/299841/market-volumes-of-new-and-used-cars-in-the-united-kingdom/ https://www.statista.com/statistics/299841/market-volumes-of... [2]https://www.fla.org.uk/research/motor-finance/ https://www.fla.org.uk/research/motor-finance/

simonjgreen 5y ago

First owners though tend to hold for 2-3 years as part of a PCP/PCH

samhw 5y ago

I don't quite understand your point: are you suggesting he equated 'end of life' with 'three years old'? He was doing precisely the opposite.

caoilte 5y ago
It's completely separate things. They think they've found a way to market 2-3 year old cars as new. It's a good idea, most cars lose a third to half of their value in the first two years. Anything they can eat out of that by changing the seat leather is pure profit
- Vrondi 5y ago
  Does the UK not already have the "Certified pre-owned" programs that car dealers in the USA have had for decades? You buy a certified pre-owned Ford, GMC, Toyota, etc, and it's a used car that has been inspected and refurbished, coming with a warranty. That's what this sounds like, just with a third round tacked on.

robbiep 5y ago

I took from the article that they are referring to fleet cars, which sounds about right