The Covid pandemic and subsequent lockdowns has and is still causing a lot of disruptions. We had people on furlough from work, many working from home, stores closed, jobs now lost, and now even out of lock down there are supply chain issues, and of course the number of those sick and dead.

It is said we will experience problems and issues from the pandemic for many, many years to come.

And if you have tried to hire a car, or even buy one lately, you know what one of those pandemic issues is…..the cost to buy or even hire a car!

Life used to be so simple, you need a car, you buy a car, and for many finance a car.

Today it is not so simple, as you need to find the car, which due to supply shortages, makes it that much more difficult.

It would seem that due to some parts such as computer chips and other materials required for new cars, less new cars are being made. People are going back to work, so there is a high demand for cars, and with less supply, prices increase.

Supply and demand again.

And used car prices are up as well, in some instances they are up almost 60%!

Now is the time to sell your old banger sitting in the drive.

As for hiring a car, you can almost forget about it. If you can find a car hire or letting agency that has any cars available, get ready to pay a fortune! I recently researched a car hire agency, and as long as I was willing to wait 6 weeks, I could let a car, no choice of the car, for £1,000 a week!

I was so in shock, I could not research any further. I was just amazed at how calmly the agent/rep for the hire company quoted that amount. Like it was some deal of a lifetime.

Just another aspect and outcome from the pandemic.

Leave a Reply

Your email address will not be published.