Used car prices

[arm79]

Expect used car prices to take off once again.

According to the Courier Mail today:

A rental car shortage has hit Brisbane as flood-affected motorists desperately search for a temporary solution to written-off vehicles.

As of March 10, Queenslanders had made 10,050 insurance claims for damaged cars due to the floods, according to the Insurance Council of Australia.

And with RACQ stating that 90 per cent of all flooded cars are write-offs, the need for an immediate replacement is strong across Brisbane.

Two leading suppliers were entirely sold out for the week from Wednesday morning, while others had limited options including exclusively SUVs or more expensive options available.

Leading rental car company, Hertz, is one of the many seeing a spike in rentals, according to vice president Eoin Macneill.

To ease the demand, new fleet deliveries have been sent straight to flood affected areas, but Mr Macneill said the company had seen some delays in repositioning cars due to road closures.

So not only are rental car companies making an absolute mint on rentals in general these days, but now they can't keep up with demand.

But importantly, following on from this, these 10,050 cars need to be replaced. Only way to secure something these days is paying through the nose for it.

Also need to consider that 10,050 is only in Qld, doesn't include NSW, and does not include uninsured and/or possibly third party insured vehicles.

https://www.couriermail.com.au/news/...6d9eb409996895

Not sure if its a paid story though, sorry.