Will Coronavirus hit used car prices?
Discussion
P1H said:
Interesting read. So imagine I had to buy a used car as a cash buyer by mid June 2020 - I’m assuming the consensus is I’d be best off waiting as late as possible to see how the market reacts?
As far as I can see there are very few cars being advertised at lower prices as the impact on supply/demand haven’t yet flowed through to the market.
Because there is no market – it is in stasis. Almost nobody is buying, almost nobody is selling.As far as I can see there are very few cars being advertised at lower prices as the impact on supply/demand haven’t yet flowed through to the market.
CRA1G said:
Autotrader has just announced to dealers it is extending the free advertising package until the end of may,so no market price adjustment expected from them...
Autotrader is simply protecting its own market place. If people had to pay to advertise with no buyers around, the site would disappear within days.
av185 said:
Auto810graphy said:
BCA started some online auctions today of their older WeBuyAnyCar stock.
Prices for cars that sold were around CAP Average, if not below (take that as 15-20% down from normal) which in my opinion is strong money for traders to pay for cars without any mechanical reports. This sale would normally only attract hall bidders who can “touch”’what they are bidding for so strong money for buying something totally blind with no comeback.
They also seem to be selling a fair few of their Buy It Now cars so the public must still be buying some cars for dealers to need stock.
Ex lease and fleet stuff on BCA buy now is still making relatively strong money ££.Prices for cars that sold were around CAP Average, if not below (take that as 15-20% down from normal) which in my opinion is strong money for traders to pay for cars without any mechanical reports. This sale would normally only attract hall bidders who can “touch”’what they are bidding for so strong money for buying something totally blind with no comeback.
They also seem to be selling a fair few of their Buy It Now cars so the public must still be buying some cars for dealers to need stock.
Motability grade 3 vanilla cars up to £15k selling at just behind CAP clean so all this armchair drivel about current collapsing prices is the usual internet b
ks by those hopeful wannabes with a vested interest lol.av185 said:
Vroomer said:
av185 said:
Auto810graphy said:
BCA started some online auctions today of their older WeBuyAnyCar stock.
Prices for cars that sold were around CAP Average, if not below (take that as 15-20% down from normal) which in my opinion is strong money for traders to pay for cars without any mechanical reports. This sale would normally only attract hall bidders who can “touch”’what they are bidding for so strong money for buying something totally blind with no comeback.
They also seem to be selling a fair few of their Buy It Now cars so the public must still be buying some cars for dealers to need stock.
Ex lease and fleet stuff on BCA buy now is still making relatively strong money ££.Prices for cars that sold were around CAP Average, if not below (take that as 15-20% down from normal) which in my opinion is strong money for traders to pay for cars without any mechanical reports. This sale would normally only attract hall bidders who can “touch”’what they are bidding for so strong money for buying something totally blind with no comeback.
They also seem to be selling a fair few of their Buy It Now cars so the public must still be buying some cars for dealers to need stock.
Motability grade 3 vanilla cars up to £15k selling at just behind CAP clean so all this armchair drivel about current collapsing prices is the usual internet b
ks by those hopeful wannabes with a vested interest lol.You heard of the internet?
Its a powerful thing.
You are probs on it now btw.
OK, they can if they find a buyer who is prepared to buy blind and have it delivered, or one who is prepared to put the NHS at risk by ignoring all social distancing/essential travel etc.
You heard of the internet? Its a powerful thing. You are probs on it now btw
A pretty good indicator that somebody knows they are losing the argument is when they offer insults, not reason.
UnderSteerD said:
The DIY places are open, as are garden centres.
Many DIY places are closed, as are builders merchants other than for deliveries to essential customers.ALL garden centres are closed. The news has been full of their pleas to re-open as stock is going to have to be thrown away at what is normally their busiest time of year.
Pommy said:
The posts on here by Car Dealers seem to state;
- slight downturn but things still moving;
- when this ends the hardest thing will be supply meeting demand;
- the sub £5,10k stuff wont change much; and
- prices are still stable/reasonable at BCA/Auctions.
Am I missing something?
You can't blame them for trying to talk up the market when their livelihoods are at stake.- slight downturn but things still moving;
- when this ends the hardest thing will be supply meeting demand;
- the sub £5,10k stuff wont change much; and
- prices are still stable/reasonable at BCA/Auctions.
Am I missing something?
GT72 said:
Vroomer said:
UnderSteerD said:
The DIY places are open, as are garden centres.
Many DIY places are closed, as are builders merchants other than for deliveries to essential customers.ALL garden centres are closed. The news has been full of their pleas to re-open as stock is going to have to be thrown away at what is normally their busiest time of year.
Our village garden centre is open. (Small family owned and run)
Our 2 local B&Q’s are open (both have garden centres open)
Our local Screwfix is open
There are lots of garden centres open for internet shoppers and delivery.
All have different restrictions in place, but if you want something you can get it.
jimPH said:
Of course a 1M will hold its value, it's just basic supply and demand. But it just makes the M2 so much better value. I buy cars to drive, not sweat about putting miles on it, which sadly makes the 1M destined as a garage ornament.
BMW AUC site has 47 M2s from £28.5k.Post lockdown, we'll probably see £25k cars, or lower.
niggtv said:
If I were a dealer with a load of cars I must admit that whilst there's so little movement I'd be reducing a few prices on stock, to at least reduce my exposure.... cutting margins slightly rather than taking hits, and getting in before any wider price shifts.
Any bank behind a dealer is going to be far happier with stock nominally worth £1m not selling rather than the same stock nominally worth £900k not sellingInky81 said:
jsf said:
Vroomer said:
Any bank behind a dealer is going to be far happier with stock nominally worth £1m not selling rather than the same stock nominally worth £900k not selling
Banks will liquidate at whatever price they can get, if it comes to that. That's the norm with distress selling auctions, usually seen with house default sales but equally applicable to cars.livinginasia said:
Reading the thread about the imminent collapse in used car prices that everyone seems to think is coming, but looking at cars for sale no prices are coming down.
Is it too early yet or was this all just a dream on behalf of some members ?
I don't think you could have read the thread very carefully because there have been lengthy discussions about how the market is in stasis ie nobody is selling and nobody is buying.Is it too early yet or was this all just a dream on behalf of some members ?
Zero point in cutting prices when it will make no difference.
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