Will Coronavirus hit used car prices?
Discussion
Earthdweller said:
What’s the right price ?
You may feel you have got an epic deal today .. but find in 3 months you paid way too much and in 6 months time you’re crying yourself to sleep
You only jump into a crashing market at the point you feel it’s about to turn
A lot of people will think, That’s dropped £20k this month .. oh hang in what it gonna do next month ?
And so they wait, and watch ., and prices drop further .. so they wait some more
All very well in principle but try timing the market and its virtually impossible as many found out panic selling cars/stocks to their cost in 2008 9.You may feel you have got an epic deal today .. but find in 3 months you paid way too much and in 6 months time you’re crying yourself to sleep
You only jump into a crashing market at the point you feel it’s about to turn
A lot of people will think, That’s dropped £20k this month .. oh hang in what it gonna do next month ?
And so they wait, and watch ., and prices drop further .. so they wait some more
Many sold out of equities a few weeks back around 5000 which has cost them as we are now around 5600.
Cars are generally easier to time than the stock market.
In late 2014 many waited for the 991.1 GT3 to drop in price from their £175k highs. They did drop to £130ks then went back up to £150ks a prime example virtually impossible market timing.
458s a similar story.
Dealers seem to be taking a bit of a battering on this thread; not really very tasteful imo when they are people just wanting to do a job and make a living like the rest of us.
At least one has made the very valid point about trade-in valuations. Most car buyers have a car to get rid of first before buying something else; it's all very well expecting the car you're purchasing to be massively discounted, but you can't realistically expect the value of what you're putting in to be at pre-CV19 levels as well.
In other words, whilst I agree that the coming months will not be a very good time for sellers, I also think that for the most part it will not be a good time for buyers either. A total bloodbath in fact... we're all doomed!
With a few lucky exceptions, the only people that will do well out of this are those right at the top of the money tree. They're always ok and will quite happily let the rest of us plebby scumbags fight it out between ourselves while they crap all over us as per bloody usual. Blah blah rant rant bring on the revolution!
At least one has made the very valid point about trade-in valuations. Most car buyers have a car to get rid of first before buying something else; it's all very well expecting the car you're purchasing to be massively discounted, but you can't realistically expect the value of what you're putting in to be at pre-CV19 levels as well.
In other words, whilst I agree that the coming months will not be a very good time for sellers, I also think that for the most part it will not be a good time for buyers either. A total bloodbath in fact... we're all doomed!
With a few lucky exceptions, the only people that will do well out of this are those right at the top of the money tree. They're always ok and will quite happily let the rest of us plebby scumbags fight it out between ourselves while they crap all over us as per bloody usual. Blah blah rant rant bring on the revolution!
Baked_bean said:
I find it strange how everyone that posts on here talks about how the economy is ruined and lots of people will be offloading cars cheap, due to issues with employment etc. Yet everyone on here seems completely confident in their jobs and financial situation?
Just an observation.
I'm certainly not.Just an observation.
It's entirely possible once furlough is over i will be made redundant at a time when my entire sector is effectively dead, so no other equivilent job to go back to.
Welshbeef said:
jsf said:
Welshbeef said:
Go on share what it is.
JDM Impreza STi. I've done over 100K miles in it and its still worth more than i paid for it, or it was, before CV19.I’d you can afford it I’d be keeping that & enjoying it long term.
I'm pondering buying an SVX for the lunacy of it all. Save one of those from the scrapheap.
niggtv said:
gizlaroc said:
if I was in France or somewhere else I wouldn't feel the need to change every 2-3 years.
Excellent progress if you move towards making car ownership decisions based on your own preference rather than feeling the need to change based on those around you.But the reality is, with everything going on, and with a car that ticks so many boxes I will just stick with it.
Nothing to do with changing because of those around me, what a strange way the think?
Don't you just fancy trying something new?
I actually bought the 520d Touring after saying that going diesel didn't really save you much over petrol, I said that even going for a 4cyl it would not save all that much. The reality is it hasn't, however, I have been blown away by the car as an all round package, which has shocked me. Just seems like the sort of car to keep and stick 250,000 miles on.
gizlaroc said:
niggtv said:
gizlaroc said:
if I was in France or somewhere else I wouldn't feel the need to change every 2-3 years.
Excellent progress if you move towards making car ownership decisions based on your own preference rather than feeling the need to change based on those around you.I meant if I lived in France or somewhere I would probably be driving round in some old Citroen that is 15 years old and have no real interest in cars. I know when I am over there I tend to be more into other things that cars. Of course if I was down in St. Tropez that may be different, but I think in general the lifestyle is not so car orientated in many countries like we are here.
Maybe it is because I am normally not working when over there, if I lived there it may be different, but somehow don't think it would.
Over here I am always thinking about cars, what do I want to try next?
Maybe it is because I am normally not working when over there, if I lived there it may be different, but somehow don't think it would.
Over here I am always thinking about cars, what do I want to try next?
gizlaroc said:
I meant if I lived in France or somewhere I would probably be driving round in some old Citroen that is 15 years old and have no real interest in cars. I know when I am over there I tend to be more into other things that cars. Of course if I was down in St. Tropez that may be different, but I think in general the lifestyle is not so car orientated in many countries like we are here.
Maybe it is because I am normally not working when over there, if I lived there it may be different, but somehow don't think it would.
Over here I am always thinking about cars, what do I want to try next?
The Mrs and I spend a large portion of each winter in Thailand on the islands and I always long hire some locally made Toyota Fortuna SUV thing. I don't think I'd even consider caring about what car I drove if I lived there more permanently. Maybe it is because I am normally not working when over there, if I lived there it may be different, but somehow don't think it would.
Over here I am always thinking about cars, what do I want to try next?
Asians are so obsessed with status and symbols of it that it feels crass to even care somehow.
Exactly the same as you...as soon as I get home all I can think about is what car I should get next.
It's weird.
gizlaroc said:
I meant if I lived in France or somewhere I would probably be driving round in some old Citroen that is 15 years old and have no real interest in cars. I know when I am over there I tend to be more into other things that cars. Of course if I was down in St. Tropez that may be different, but I think in general the lifestyle is not so car orientated in many countries like we are here.
Maybe it is because I am normally not working when over there, if I lived there it may be different, but somehow don't think it would.
Over here I am always thinking about cars, what do I want to try next?
I'm half French, grew up in France in the 80s and 90s and I'd agree that people didn't care much of fancy cars.... I think that attitude has changed since I left- the world has changed and even the French like a nice motor! Yes the UK is still 10 steps ahead, we like our cars a lot on this island.Maybe it is because I am normally not working when over there, if I lived there it may be different, but somehow don't think it would.
Over here I am always thinking about cars, what do I want to try next?
The way I see it is that I'm not a big consumer of anything anymore- I know what matters to me a lot more than fancy stuff but saying that I love motoring and consequently love cars. It's a hobby for most of us on here and there is not wrong with that, just happens to be an expensive one!
In this market, for anything above say £10K, now matter how good the deal on offer today, no matter how much less than it would have been 3 months ago, no matter how much of a bargain you think your tough negotiating has achieved, it still ain't cheap enough - not with how this economy is tanking.
Fast forward 3 months & repeat these words to yourself
Fast forward 3 months & repeat these words to yourself
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