The pandemic seems to have changed the mindset of wealthy car owners into the notion that they don’t want to wait months for their luxury vehicles or supercars to arrive. Instead, while their financial status has mostly improved thanks to less spending during lockdowns, they show a greater interest in used cars due to their immediate availability, causing prices to soar.

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According to Edmunds, June saw an almost 30% increase in used car prices compared to last year. In the used car market, supercars like the limited-edition McLaren 765LT are selling 40% higher than their original MSRP, showing that people want them and want them now.

As reported by Automotive News Europe, Rolls-Royce has a six-month waiting list on new orders – even though the company states that microchip shortage hasn’t affected production. The unlimited customization options offered by the company and the ability for new customers to spec their handbuilt cars according to their taste, seem to not matter that much anymore, with more and more people opting for pristine-condition used vehicles.

Gerry Spahn, head of communications for Rolls-Royce in North America, admitted that around 75% of their sales come from the Provenance pre-owned program, marking a significant increase from the previous 33%. By acquiring used Rolls-Royce models, buyers also avoid depreciation – a Wraith loses 20% of its value when it leaves the dealership and 40% after five years of ownership.

And it’s not only Rolls-Royce that is affected by this situation. Between 2016 and 2021, rival luxury brand Bentley saw a 53% increase in used car sales, while new car sales grew by 34% in the same period.

Pre-owned programs like the “Ferrari Approved” include careful multi-point inspection of the car by certified technicians making sure everything is on par with the company’s high standards. They also include warranty and roadside assistance for greater peace of mind.

Besides being beneficial for the used car buyer, this strategy is also good for the brand. Statistics show that it brings more new people in, with a large percentage of them becoming new car buyers for their next purchase. For luxury brands like Bentley, the certified pre-owned program also works as an entry point for younger buyers due to the lower prices.

It remains to be seen if this trend will keep up in the future or if the post-pandemic world will get back to what we considered normal.