Inflation: Used cars are becoming so much more expensive in Germany

Rising inflation has been keeping Germany busy for months. Two factors are decisive for this: Due to the Ukraine war, oil and gas prices have risen and are thus generally responsible for high energy costs. And the consequences of Corona are still having an impact: tough lockdowns are slowing down important industrial sectors in Asia in particular. Among other things, manufacturers of computer chips and the supply chains are affected.

A domino effect begins: Because various computer chips are installed in almost all new cars – for the navigation system, for the central locking, for assistance and warning systems – the manufacturers can no longer build as many new cars as planned. Some manufacturers are therefore specifically targeting higher-priced segments – according to the motto: If we only get a few chips, we prefer to install them in our most expensive cars, because we make more profit with them.

This also has consequences for the used car market: Because there, in addition to the normal used car buyers, there are suddenly also new car customers who have looked around in vain for a new Golf, a 1-series BMW or an A-Class.

Exclusive data research shows: Prices for used vehicles have risen by up to a third

An exclusive data analysis by star and RTL with data from Autoscout24 now shows how enormously the prices for the most popular car models in Germany have risen in recent months. For example, the VW Golf rose from 15,279 euros in 2019 to more than 20,000 euros this summer – a price increase of more than 30 percent. Not an isolated case: on average, the top 5 in this segment (VW Polo, Ford Fiesta, Opel Corsa & Co.) have become a third more expensive.

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The cheaper segments are particularly affected by the price increases: prices for small and compact cars have risen by 31 and 28 percent respectively in the last three years. Only the models in the most expensive segment fared better: In the luxury class, prices rose by “only” 16 percent.

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Expert advises: Don’t wait for cheap prices

As a buyer of a used car, you might just want to wait until prices have normalized again. Stefan Schneck, Head of Sales at Autoscout24, clearly advises against it. The car buying expert says clearly: “Waiting is only worthwhile for a very short time until autumn/winter of this year. In the medium and long term it is not really worthwhile, as there will probably not be a change in the overall situation in the industry and prices are not expected to be consistently cheaper will.”

Used car sales: Benefit from high prices

Anyone who has been wanting to sell their unused used car for a long time in order to save money is now at the right time: Private sellers “benefit from the current high price level when making trade-ins”, as Stefan Schneck confirms.

There are two ways for private sellers to do this: they can list their car on vehicle exchanges, state the desired price and add meaningful pictures and information. As a seller, you only have to wait for a suitable buyer.

Alternatively, a private sale via classified ads or bulletin boards is possible. Private sellers should download and fill out important documents such as the purchase contract and the associated forms online in advance.