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Sign up with Google Sign up with FacebookQ: Why are second hand cars so expensive in China?
It's called a rip-off. I think you've heard that term before. Its when they overcharge you for something that is not that valuable. They'll probably say that they fixed it up for you and they spend lots of money making it look brand new, but in reality they probably spent little.
Back home cars lose value very quickly. I guess China doesn't follow that rule. They want more money out of it.
Second hand cars are expensive because they are properly broken in. They have dents and scrapes in all the right places so you do not have to worry about getting them. A new car will never look new for long while a used car will always keep that gently used look.
In general, there is no second hand car market in China yet. Cars have been available for only a few years, and except for the super rich, cars are not really changed every two or three years.
As for the price, as always there are two sides on a coin. There is a seller who wants an amount of money, and there is a buyer who can walk out if not in agreement with the price.
But new cars in China are even a worse case. Take a Jaguar, foreign brand but made in China. In the USA, it sells for a list price of $ 116,699 loaded (that is about 712 K Rmb). Here, it sells for 2.250,000 Rmb. And people buy it !. Maybe it is because they do not know any better. In eneral, new cars here, foreign brand but made in China, do sell for 3 to 5 times the price of same models in USA. And back home no one pays window price. Over here, I was told once if I had to ask the price, or suggest a discount, I can not afford the car.
So, when those cars will hit the second hand car market, their price will be found near the sky. Profit margings are next to the prices too.
andy74rc:
Prices of the same model, made in China, are similar. The imported ones, due to the high duties, are way more expensive than the same model in the West.
coineineagh:
Chinese have no reason to sell their cars. If they're rich enough to refresh their car within a year or two, there's always a relative to gift or sell the old one to. Buying a car from a complete stranger is very bad. It is usually assumed that the seller had a very broken car and wants to sell it off as serviceable when in fact it is not. That assumption is often true.
At 10mil + cars added to the street every year, the second hand one will see their price dropping in the future.
Moreover considering the great care people here use to them.
The market for cars in China is booming. The variety of cars available in China, however, is small. You may, therefore, wish to ship a car to China for either reselling it to those interested in the specialty car market or for your own personal use. Although the Chinese government levies strict regulations on the importing of cars, the procedures for shipping are not complicated. Thank you. convert pdf to ebook
There are few used cars around and everyone asks for too much at resale.
they arent expensive. we think they are expensive but the reality is that cars in general are more than back home when bought new, so its only natural that 2nd hand cars would be pricier too. but the rate the cars are devalued isnt much off from back home. About 30 to 50% of new car price within 3 years, depending on the car of course.
Nessquick:
add the fact, that chinese driver really devaluate the cars, so they are really expensive.
When I was buying a car some time ago here, so if we add just 20.000rmb, we can get brand new car, same one. its for almost all cars. problem was our cash :-) so in fact, I bought a second hand car for the amount I can buy 5-6 same cars back home...
i would be pretty scared to buy a second hand car while seeing how they drive the cars...