Will Coronavirus hit used car prices?
Discussion
JQ said:
eliot said:
So essentially the staff were Furlough Zombies unfortunately.
The smart money has to be on 100% online business model trading out a large remote facility with decent photos, video calling and free delivery / inspection of cars and bin of the glass gin palaces
Not a chance for second hand cars, someone spending £10,000 will want to touch the item before they commit in the majority of cases.The smart money has to be on 100% online business model trading out a large remote facility with decent photos, video calling and free delivery / inspection of cars and bin of the glass gin palaces
The main Car Auctions have been selling both mainstream and high end £150k plus cars online and unseen for years now and this looks set to replace physical auctions post virus.
Collecting Cars and other recently established and successful auction buying platforms prove the private buyer is happy to buy many expensive and often older classic cars unseen often up to £200k and without any warranty whatsoever.
danp said:
Welshbeef said:
So far Furlough has cost £17billion.
Where did you see that? I’ve read that it’s costing circa £14 billion a month.e.g. https://www.telegraph.co.uk/business/2020/05/12/me...
£17.5 billion claimed so far.
I wonder how many do it more than once though? Auctions come as 'buyer beware' sales unless it is obviously falsely described. I once 'won' a car on ebay and got a one way ticket to collect it to discover it was not as described. 
Learnt a lesson there, I still do buy unseen but only if it's old and cheap, and fully expect it to have undeclared parking dings and some minor faults which you allow for. Buy a return ticket too in case!
If you buy a car online delivered to you from a dealer however, the distance selling regulations allow you to return it for a refund if you just don't like it. Shipping it back would be pricey admittedly, but if you see and touch it, or even just visit the premises for the paperwork, you can only return it if it is faulty.
https://www.honestjohn.co.uk/askhj/answer/145497/d...
Learnt a lesson there, I still do buy unseen but only if it's old and cheap, and fully expect it to have undeclared parking dings and some minor faults which you allow for. Buy a return ticket too in case!If you buy a car online delivered to you from a dealer however, the distance selling regulations allow you to return it for a refund if you just don't like it. Shipping it back would be pricey admittedly, but if you see and touch it, or even just visit the premises for the paperwork, you can only return it if it is faulty.
https://www.honestjohn.co.uk/askhj/answer/145497/d...
Throttlebody said:
The big picture perspective is important.
Anticipated April 2020-21 CV19 UK Govt cost - £300 Billion (source OBR).
There’s a choice between assessing inputs of realistic market data, valid economic feedback and future projections from impartial and respected economic sources or ........car salesmen’s patter and repeated Denial Thoughts.
Could you explain to those of us less informed - as such a visionary with a firm grasp of the economic probabilities forour future, how did you end up living at home, unemployed with a Nissan Micra?Anticipated April 2020-21 CV19 UK Govt cost - £300 Billion (source OBR).
There’s a choice between assessing inputs of realistic market data, valid economic feedback and future projections from impartial and respected economic sources or ........car salesmen’s patter and repeated Denial Thoughts.
av185 said:
Not really, as the meteoric rise of online shopping replacing high street shopping paved the way to dispel this myth.
The main Car Auctions have been selling both mainstream and high end £150k plus cars online and unseen for years now and this looks set to replace physical auctions post virus.
Collecting Cars and other recently established and successful auction buying platforms prove the private buyer is happy to buy many expensive and often older classic cars unseen often up to £200k and without any warranty whatsoever.
The types of cars sold on these specialist platforms don't really represent the market at large, whose criteria for purchase are very different. I still think the majority of buyers will want to see/touch/feel any prospective used car before transferring large sums of cash. My lease car goes back in August, I'm not looking to lease again (though the lease has protected me from any RV shocks this time around), and instead will be looking for a used vehicle. I shall not be looking to purchase without physically seeing the car first.The main Car Auctions have been selling both mainstream and high end £150k plus cars online and unseen for years now and this looks set to replace physical auctions post virus.
Collecting Cars and other recently established and successful auction buying platforms prove the private buyer is happy to buy many expensive and often older classic cars unseen often up to £200k and without any warranty whatsoever.
Inky81 said:
The types of cars sold on these specialist platforms don't really represent the market at large, whose criteria for purchase are very different. I still think the majority of buyers will want to see/touch/feel any prospective used car before transferring large sums of cash. My lease car goes back in August, I'm not looking to lease again (though the lease has protected me from any RV shocks this time around), and instead will be looking for a used vehicle. I shall not be looking to purchase without physically seeing the car first.
If you can afford to buy a vintage 911 it's likely not going to be your last penny regardless of the price you pay online. If you're buying a £2-10,000 car that you need to use daily there's a fair chance you're going to want to be sure it's a good as possible. You cannot possibly expect enough dealers to become honest overnight if they get to sell online.
As much as I don't want to knock dealers, even those of you in the trade must be able to agree that there are many and varied unscrupulous ones out there. That includes small places under the arches and salesmen at a shiny
main dealer palace who will outright lie to get a signature.
V8fan said:
I wonder how many do it more than once though? Auctions come as 'buyer beware' sales unless it is obviously falsely described. I once 'won' a car on ebay and got a one way ticket to collect it to discover it was not as described. Learnt a lesson there, I still do buy unseen but only if it's old and cheap, and fully expect it to have undeclared parking dings and some minor faults which you allow for. Buy a return ticket too in case!
If you buy a car online delivered to you from a dealer however, the distance selling regulations allow you to return it for a refund if you just don't like it. Shipping it back would be pricey admittedly, but if you see and touch it, or even just visit the premises for the paperwork, you can only return it if it is faulty.
https://www.honestjohn.co.uk/askhj/answer/145497/d...
Spot on! Learnt a lesson there, I still do buy unseen but only if it's old and cheap, and fully expect it to have undeclared parking dings and some minor faults which you allow for. Buy a return ticket too in case!If you buy a car online delivered to you from a dealer however, the distance selling regulations allow you to return it for a refund if you just don't like it. Shipping it back would be pricey admittedly, but if you see and touch it, or even just visit the premises for the paperwork, you can only return it if it is faulty.
https://www.honestjohn.co.uk/askhj/answer/145497/d...
Again, no one is talking about this. Dealers are coming on here stating that they've been manic responding to queries and delivering cars from online orders. I'm sure they have it covered somehow, but there are problems ahead for this approach and the law tends to side with the consumer.
Argleton said:
danp said:
Welshbeef said:
So far Furlough has cost £17billion.
Where did you see that? I’ve read that it’s costing circa £14 billion a month.e.g. https://www.telegraph.co.uk/business/2020/05/12/me...
t 'facts' shocker...!In these times of racism, online trolling and mental Health illness it’s shameful the casual remarks are allowed to be posted.
limpsfield said:
Could you explain to those of us less informed - as such a visionary with a firm grasp of the economic probabilities forour future, how did you end up living at home, unemployed with a Nissan Micra?
So basically you don't like what he's saying and want to shut him down, but can't find a way to refute it, so resort to mocking him instead. Is that about the size of it? maz8062 said:
V8fan said:
I wonder how many do it more than once though? Auctions come as 'buyer beware' sales unless it is obviously falsely described. I once 'won' a car on ebay and got a one way ticket to collect it to discover it was not as described. Learnt a lesson there, I still do buy unseen but only if it's old and cheap, and fully expect it to have undeclared parking dings and some minor faults which you allow for. Buy a return ticket too in case!
If you buy a car online delivered to you from a dealer however, the distance selling regulations allow you to return it for a refund if you just don't like it. Shipping it back would be pricey admittedly, but if you see and touch it, or even just visit the premises for the paperwork, you can only return it if it is faulty.
https://www.honestjohn.co.uk/askhj/answer/145497/d...
Spot on! Learnt a lesson there, I still do buy unseen but only if it's old and cheap, and fully expect it to have undeclared parking dings and some minor faults which you allow for. Buy a return ticket too in case!If you buy a car online delivered to you from a dealer however, the distance selling regulations allow you to return it for a refund if you just don't like it. Shipping it back would be pricey admittedly, but if you see and touch it, or even just visit the premises for the paperwork, you can only return it if it is faulty.
https://www.honestjohn.co.uk/askhj/answer/145497/d...
Again, no one is talking about this. Dealers are coming on here stating that they've been manic responding to queries and delivering cars from online orders. I'm sure they have it covered somehow, but there are problems ahead for this approach and the law tends to side with the consumer.
growlerowl said:
limpsfield said:
Could you explain to those of us less informed - as such a visionary with a firm grasp of the economic probabilities forour future, how did you end up living at home, unemployed with a Nissan Micra?
So basically you don't like what he's saying and want to shut him down, but can't find a way to refute it, so resort to mocking him instead. Is that about the size of it? In answer to the thread question, I too think the virus will hit used car prices.
Salmonofdoubt said:
I'm still not convinced it's that simple. Otherwise you could buy a car use it for a week and return it for free, especially if you buy online from the nearest place to your house, then returns would be easy.
For physical deliveries i.e. old normal, VW hadNo quibble exchange
30 day/1,000 mile 'no quibble' exchange policy.
If for any reason, you want to change the car - maybe you have second thoughts, or it doesn't fit in your garage you may be able to exchange it for another of the same price (or higher, with you paying the difference), as long as the vehicle is returned in the same condition as when it was collected and the retailer you bought your car from has an available vehicle in their stock.
Inky81 said:
The types of cars sold on these specialist platforms don't really represent the market at large, whose criteria for purchase are very different. I still think the majority of buyers will want to see/touch/feel any prospective used car before transferring large sums of cash. My lease car goes back in August, I'm not looking to lease again (though the lease has protected me from any RV shocks this time around), and instead will be looking for a used vehicle. I shall not be looking to purchase without physically seeing the car first.
When your going used, physically seeing and even driving the car in CV19 world has to be a priority. High res pictures and a decent description helps, but they can still mask a potential pup.Welshbeef said:
I’m surprised it’s not higher, presume many must be late in claiming it - seems like it’ll average out at around £14 billion a month (plus the self employed scheme).By comparison other big ticket items:
https://www.independent.co.uk/news/uk/politics/cor...
maz8062 said:
Spot on!
Again, no one is talking about this. Dealers are coming on here stating that they've been manic responding to queries and delivering cars from online orders. I'm sure they have it covered somehow, but there are problems ahead for this approach and the law tends to side with the consumer.
This might be the case but do not underestimate the lengths that dealers, manufacturers and finance companies will go to to avoid their obligations under consumer law. As soon as the cr*p hits the fan they all gang together and you need to dig in for the long haul.Again, no one is talking about this. Dealers are coming on here stating that they've been manic responding to queries and delivering cars from online orders. I'm sure they have it covered somehow, but there are problems ahead for this approach and the law tends to side with the consumer.
As for distance selling of cars its the same as anything else. If it turns up and its not as described or you dont like it then you send it back but if you use it, even just once then it will need to be faulty to be able to send it back.
Throttlebody said:
Inky81 said:
The types of cars sold on these specialist platforms don't really represent the market at large, whose criteria for purchase are very different. I still think the majority of buyers will want to see/touch/feel any prospective used car before transferring large sums of cash. My lease car goes back in August, I'm not looking to lease again (though the lease has protected me from any RV shocks this time around), and instead will be looking for a used vehicle. I shall not be looking to purchase without physically seeing the car first.
When your going used, physically seeing and even driving the car in CV19 world has to be a priority. High res pictures and a decent description helps, but they can still mask a potential pup.Also it is possible to meet the owner and view the car at the owners house etc as many purchasers have already.
The only grey area is one of contract which as yet appears untested and whilst there is effectively no warranty apart from unexpired manufacturers if applicable, it could well be some protection is offered to the purchaser if the car is sold by a dealer.
av185 said:
Throttlebody said:
Inky81 said:
The types of cars sold on these specialist platforms don't really represent the market at large, whose criteria for purchase are very different. I still think the majority of buyers will want to see/touch/feel any prospective used car before transferring large sums of cash. My lease car goes back in August, I'm not looking to lease again (though the lease has protected me from any RV shocks this time around), and instead will be looking for a used vehicle. I shall not be looking to purchase without physically seeing the car first.
When your going used, physically seeing and even driving the car in CV19 world has to be a priority. High res pictures and a decent description helps, but they can still mask a potential pup.Also it is possible to meet the owner and view the car at the owners house etc as many purchasers have already.
The only grey area is one of contract which as yet appears untested and whilst there is effectively no warranty apart from unexpired manufacturers if applicable, it could well be some protection is offered to the purchaser if the car is sold by a dealer.
JQ said:
av185 said:
Throttlebody said:
Inky81 said:
The types of cars sold on these specialist platforms don't really represent the market at large, whose criteria for purchase are very different. I still think the majority of buyers will want to see/touch/feel any prospective used car before transferring large sums of cash. My lease car goes back in August, I'm not looking to lease again (though the lease has protected me from any RV shocks this time around), and instead will be looking for a used vehicle. I shall not be looking to purchase without physically seeing the car first.
When your going used, physically seeing and even driving the car in CV19 world has to be a priority. High res pictures and a decent description helps, but they can still mask a potential pup.Also it is possible to meet the owner and view the car at the owners house etc as many purchasers have already.
The only grey area is one of contract which as yet appears untested and whilst there is effectively no warranty apart from unexpired manufacturers if applicable, it could well be some protection is offered to the purchaser if the car is sold by a dealer.
Welshbeef said:
Throttlebody said:
The big picture perspective is important.
Anticipated April 2020-21 CV19 UK Govt cost - £300 Billion (source OBR).
There’s a choice between assessing inputs of realistic market data, valid economic feedback and future projections from impartial and respected economic sources or ........car salesmen’s patter and repeated Denial Thoughts.
So far Furlough has cost £17billion. Anticipated April 2020-21 CV19 UK Govt cost - £300 Billion (source OBR).
There’s a choice between assessing inputs of realistic market data, valid economic feedback and future projections from impartial and respected economic sources or ........car salesmen’s patter and repeated Denial Thoughts.
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