The used supercar market is busier than ever and there has been a recent surge in the number of used supercars available on the market. Major manufacturers such as Porsche, Lamborghini, Ferrari and Rolls Royce. Some are feeling the squeeze in terms of rising costs and so are looking to sell their supercars whilst others are just naturally looking to sell their car and purchase another vehicle. If you are in the market to buy – it’s never been a better time to look to purchase a supercar as we will discuss by assessing the current market in this article.
This article is written by We Love Supercars – the best place to ‘Sell My Ferrari’ in the UK.
Why Is the Used Supercar Market Expanding?
As mentioned, as budgets have become tighter due to the cost of living crisis – many are looking to remove luxuries from their life that they don’t necessarily need. Although some supercars are owned by high-net-worth individuals – they are also the ones who will be conscious about their budgets and so may also be looking to sell their supercar. It’s also a great time to sell. Because of the semiconductor shortage in 2020 & 2021, the production globally of new vehicles has halted and this resulted in a hefty delay in deliveries for new vehicles.
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This meant that fewer new supercars were produced and this in turn made the remaining used supercars more valuable. People who did not want to wait an additional year maybe even two years on some models were looking to pay to secure a car instantly – and the used car market offered the solution.
Thoughts When Looking to Sell a Supercar
The market has more supercars that are currently available – so does this mean that it’s a good idea to enter the market and sell? There’s no doubt that the supercar market in terms of price is massively controlled by supply and demand. This is what makes a supercar a great investment compared to other makes and models. We saw this during the used car boom that was created in 2020 & 2021 – some supercars exceeded their original values when owners were looking to sell. It is a good time to consider selling your supercar but it’s important to look at the market and see if there are any models or similar models to your car that are being sold on the market.
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Waiting for the right opportunity to sell is important as well. If you are the only person that is selling your particular model of supercar then you are likely to be able to dictate a higher price. If you sell during a period in which there are a number of models or makes that are available then there are more to choose from and this will affect the potential selling price.
The Future of the Supercars Market
The supercars market is always due to fluctuate. There are a growing number of motorists who look to invest in supercars but the recent surge in supercar sales shows that there are many who are looking to sell their supercars altogether. It’s easier to get the capital to purchase a supercar through leasing agreements or finance so there are naturally more motorists who are able to get hold of the keys of a supercar.
Some supercar manufacturers are also manufacturing supercars that are more affordable than the supercars with extreme price tags so this makes owning a supercar more accessible than ever. The future of the supercar market is highly interesting and it’s vital to keep an eye on the market if you are looking to buy or sell.
