Will Coronavirus hit used car prices?
Discussion
Hope people in ordinary jobs have their 6m to 12m rainy day fund fully topped up.
People losing jobs and having no money will only affect used car prices if such people are numerous.
Those living hand to mouth with their BMW/Audi/Merc/Range Rover PCPs will be taught a lesson.
In theory, the coronavirus is a mild event compared to 2008. There should be no impact but people are dumb so the impact will be greater than it should be.
People losing jobs and having no money will only affect used car prices if such people are numerous.
Those living hand to mouth with their BMW/Audi/Merc/Range Rover PCPs will be taught a lesson.
In theory, the coronavirus is a mild event compared to 2008. There should be no impact but people are dumb so the impact will be greater than it should be.
Audemars said:
Hope people in ordinary jobs have their 6m to 12m rainy day fund fully topped up.
People losing jobs and having no money will only affect used car prices if such people are numerous.
Those living hand to mouth with their BMW/Audi/Merc/Range Rover PCPs will be taught a lesson.
In theory, the coronavirus is a mild event compared to 2008. There should be no impact but people are dumb so the impact will be greater than it should be.
The difference is that in 2008 10s of thousands of people did not die you fPeople losing jobs and having no money will only affect used car prices if such people are numerous.
Those living hand to mouth with their BMW/Audi/Merc/Range Rover PCPs will be taught a lesson.
In theory, the coronavirus is a mild event compared to 2008. There should be no impact but people are dumb so the impact will be greater than it should be.
kin moron!Audemars said:
Hope people in ordinary jobs have their 6m to 12m rainy day fund fully topped up.
People losing jobs and having no money will only affect used car prices if such people are numerous.
Those living hand to mouth with their BMW/Audi/Merc/Range Rover PCPs will be taught a lesson.
In theory, the coronavirus is a mild event compared to 2008. There should be no impact but people are dumb so the impact will be greater than it should be.
Total BS.People losing jobs and having no money will only affect used car prices if such people are numerous.
Those living hand to mouth with their BMW/Audi/Merc/Range Rover PCPs will be taught a lesson.
In theory, the coronavirus is a mild event compared to 2008. There should be no impact but people are dumb so the impact will be greater than it should be.
I wonder if what we are seeing is actaully a return to normal levels of deprecation.
Used cars have normally lost value, it's just the last 8 years have fooled us into forgetting this.
The catch up looks painful, but then we will return to the normal of 50% (plus options) lost in the first 3 years.
Used cars have normally lost value, it's just the last 8 years have fooled us into forgetting this.
The catch up looks painful, but then we will return to the normal of 50% (plus options) lost in the first 3 years.
R.Sole said:
The difference is that in 2008 10s of thousands of people did not die you fkin moron!
They didn’t cause the crash, but unfortunately thousands of people probably did die. The figures don’t go back further than 2010 but the Center for Disease Control and Prevention reported 37,000 deaths attributable to flu for the 2010/11 season in the US. That was mild compared to the 2017/18 season when 45,000,000 people had symptomatic flu of which 810,000 were hospitalised and 61,000 died. kin moron!We don’t lock down countries for normal flu with the figures above so for the people who supposedly know, they must be pretty scared of this thing to advise the measures that have been taken. Either that or it’s a 24 hr news, media driven frenzy that is gonna have all sorts of long term impacts on people and companies just for a good story and increased viewing figures for something that will kill less than ordinary flu.
I think I swing between the 2 views daily.
https://www.cdc.gov/flu/about/burden/index.html
Anyway, make it 4 997.2s or 60k
CJ1 said:
WeBuyanyCar last week offered me £14000 for my 2016 Golf R.
This week, £11500.
Don’t know if they’re trying to take advantage of the situation. Or they just aren’t interested in buying cars at the moment...
There's a thread, i think moved to the car buying section now, from a bloke that was selling his car to Arnold Clark.This week, £11500.
Don’t know if they’re trying to take advantage of the situation. Or they just aren’t interested in buying cars at the moment...
Evidently dropped it off yesterday and the guy he dealt with suggested management had instructed them, from Wednesday, to stop taking on any more cars for the forseeable future.
May or may not be true, but given what's currently going on with business & worry over finances, i'd imagine it's probably accurate.
Edited by AlexRS2782 on Wednesday 18th March 23:08
R.Sole said:
The difference is that in 2008 10s of thousands of people did not die you fkin moron!
People die everyday. This coronavirus will be nowhere as big as the skin moron!t caused by the credit crisis in 2008 from a financial perspective even if 10x more people die.However, I still expect prices to take a hammering because of peoples inability to live within their means which is a bus ticket for most BMW/Audi owners.
No go and stock up on the loo roll.
Human evolution at its best.
Edited by Audemars on Wednesday 18th March 00:36
I'll give my take from working at the sharp end of the trade during the 2007-2008 financial crisis.
I was repurposed as a buyer to disposer mid 2008 for a large motor group.
The PLC's will know first!
They have so much data and number crunchers that a pattern will develop.
New car sales always stall at the beginning. Then pre-reg/demo and nearly new.
So when posters above are saying WBAC/Sytners aren't buying it makes sense.
The fact that Fred in the shed is down BCA buying ex Motab at this stage and keeping up 3 yr old values isn't surprising.
I was repurposed as a buyer to disposer mid 2008 for a large motor group.
The PLC's will know first!
They have so much data and number crunchers that a pattern will develop.
New car sales always stall at the beginning. Then pre-reg/demo and nearly new.
So when posters above are saying WBAC/Sytners aren't buying it makes sense.
The fact that Fred in the shed is down BCA buying ex Motab at this stage and keeping up 3 yr old values isn't surprising.
Audemars said:
People die everyday. This coronavirus will be nowhere as big as the st caused by the credit crisis in 2008 from a financial perspective even if 10x more people die.
However, I still expect prices to take a hammering because of peoples inability to live within their means which is a bus ticket for most BMW/Audi owners.
No go and stock up on the loo roll.
Human evolution at its best.
You are kidding. We just spent the equivilent of a year at war, just as a starter. This is massively bigger than 2008.t caused by the credit crisis in 2008 from a financial perspective even if 10x more people die.However, I still expect prices to take a hammering because of peoples inability to live within their means which is a bus ticket for most BMW/Audi owners.
No go and stock up on the loo roll.
Human evolution at its best.
Edited by Audemars on Wednesday 18th March 00:36
Audemars said:
R.Sole said:
The difference is that in 2008 10s of thousands of people did not die you fkin moron!
People die everyday. This coronavirus will be nowhere as big as the skin moron!t caused by the credit crisis in 2008 from a financial perspective even if 10x more people die.However, I still expect prices to take a hammering because of peoples inability to live within their means which is a bus ticket for most BMW/Audi owners.
No go and stock up on the loo roll.
Human evolution at its best.
Edited by Audemars on Wednesday 18th March 00:36
t.Do you even have a car because I haven't ever seen you post anything about cars?
Audemars said:
R.Sole said:
The difference is that in 2008 10s of thousands of people did not die you fkin moron!
People die everyday. This coronavirus will be nowhere as big as the skin moron!t caused by the credit crisis in 2008 from a financial perspective even if 10x more people die.However, I still expect prices to take a hammering because of peoples inability to live within their means which is a bus ticket for most BMW/Audi owners.
No go and stock up on the loo roll.
Human evolution at its best.
Edited by Audemars on Wednesday 18th March 00:36
Interesting and timely thread
Just put a deposit down on a used car last week. At the time things were looking steady but the days after things seemed to ramp up and I did wonder if I timed it badly. I did try haggling a bit off but they weren't budging. I wonder if they would make a reduction or if they would sit tight and hold out for their price.
Its a fairly sensible choice with good miles, spec, priced well and ordinarily would sell quickly. It would be a 3 or 4 year car for me so not exactly an impulsive putchase. I think there are people with a bit of cash and bank loans are still easy to get and therefore decent used examples will still sell for now.
I get the feeling in the used car market dealers have little room for discounting as they are having to price competitively already so will sit tight rather than discount. Could be wrong kf course but 1k discount on things around the 12-15k mark probably not likely?
Just put a deposit down on a used car last week. At the time things were looking steady but the days after things seemed to ramp up and I did wonder if I timed it badly. I did try haggling a bit off but they weren't budging. I wonder if they would make a reduction or if they would sit tight and hold out for their price.
Its a fairly sensible choice with good miles, spec, priced well and ordinarily would sell quickly. It would be a 3 or 4 year car for me so not exactly an impulsive putchase. I think there are people with a bit of cash and bank loans are still easy to get and therefore decent used examples will still sell for now.
I get the feeling in the used car market dealers have little room for discounting as they are having to price competitively already so will sit tight rather than discount. Could be wrong kf course but 1k discount on things around the 12-15k mark probably not likely?
Gassing Station | General Gassing | Top of Page | What's New | My Stuff