Will Coronavirus hit used car prices? (Vol 2)
Discussion
WilsonWilson said:
Can people stop spamming this thread? I've gone back 3 pages and not found how much WBAC are offering for a BMW M140i.
You want the other thread. Where if the price has increased, it's a sign the sun is shining for all multimillionaire dealers and you'd best buy now without delay. And if it's dropped, you cannot possibly rely solely on WBAC, you need to check every other resource going to find evidence to support your argument.
J4CKO said:
Been looking at Jag XF's, saw one I like, up at 11 to 15 grand, just out of interest put the same car into WBAC and CarWow, they were bidding 5 to 6 !
Appreciate they have to make a margin on it, but 7 to 10 grand ?
Or do they just not want cars, or just not ten year old jags ?
I think with WBAC, the further away from 5 years old the car gets, the less they want it as they’re starting to get harder to retail. Hence the offers get less and less attractive. Appreciate they have to make a margin on it, but 7 to 10 grand ?
Or do they just not want cars, or just not ten year old jags ?
spreadsheet monkey said:
DonkeyApple said:
When you go out beyond Z3 you can see that they've been absolutely mental with their shopping. Everything inside the houses is brand new and on finance, everything on the driveway is not just brand new but premium and all that borrowing freed up the cash to take repeated extravagant holidays that no one on that pay grade would have traditionally taken.
As one of those poor benighted souls living beyond Zone 3, can I just clarify where the spending boundaries are, in order to be classed as “absolutely mental”? My cars were bought lightly used, not new. But my family does enjoy a nice holiday now and again, if our central London overlords allow it!And I'm from London originally. Place is lost and ain't coming back.
Enjoy your 'Zone Life' ....
The spinner of plates said:
J4CKO said:
Been looking at Jag XF's, saw one I like, up at 11 to 15 grand, just out of interest put the same car into WBAC and CarWow, they were bidding 5 to 6 !
Appreciate they have to make a margin on it, but 7 to 10 grand ?
Or do they just not want cars, or just not ten year old jags ?
I think with WBAC, the further away from 5 years old the car gets, the less they want it as they’re starting to get harder to retail. Hence the offers get less and less attractive. Appreciate they have to make a margin on it, but 7 to 10 grand ?
Or do they just not want cars, or just not ten year old jags ?
I still think supply is masking what's really happening but that the mask has to slip and that those at the cutting edge of the market have already seen the proof. My view is that a firm like WBAC has the perfect data to see what is coming and are generally able to price quite efficiently for that?
https://cardealermagazine.co.uk/publish/used-car-p...
the prices are still rising and will continue to do so. we are into the new year yet no doom plunge in sight as predicted by some on here.
-CB
the prices are still rising and will continue to do so. we are into the new year yet no doom plunge in sight as predicted by some on here.
-CB
chickenbarns said:
https://cardealermagazine.co.uk/publish/used-car-p...
the prices are still rising and will continue to do so. we are into the new year yet no doom plunge in sight as predicted by some on here.
-CB
Actual content of this article.the prices are still rising and will continue to do so. we are into the new year yet no doom plunge in sight as predicted by some on here.
-CB
3yo/60k miles cars 0.1% increase in asking prices.
Falling EV asking prices.
Hardly a neutral analysis of the market. Best to wait for ONS data.
911hope said:
chickenbarns said:
https://cardealermagazine.co.uk/publish/used-car-p...
the prices are still rising and will continue to do so. we are into the new year yet no doom plunge in sight as predicted by some on here.
-CB
Actual content of this article.the prices are still rising and will continue to do so. we are into the new year yet no doom plunge in sight as predicted by some on here.
-CB
3yo/60k miles cars 0.1% increase in asking prices.
Falling EV asking prices.
Hardly a neutral analysis of the market. Best to wait for ONS data.
Yeah, let's just report the better than expected stuff and ignore the fact a massive cost reduction exercise in car buying is occurring.
Rates going to 4% today which will remove more potential buyers and trigger more to need to pay less. All adding to the building pressure to drop forecourt used prices to get rid of stuck old stock and get new stuff in at the right price to sell on quickly for profit. Arguably, the only thing retarding dealers at present is that the lease companies look to still be putting stuff in the auctions at high prices and preferring to not sell than book a loss. There is a genuine possibility that a capitulation event is building in the used market.
It does seem like new car supply is slowly returning to normal, I am getting DriveTheDeal mailers again with some pretty good discounts and lead times on new seem to be coming down significantly (with Porsches excepted perhaps..). The big correction in used prices seems imminent now especially given the rate announcement today, it's a big jump in monthly cost if you were previously on a sub 2% deal.
Think I will hold off a little while longer on a used car purchase rather than risk catching a falling knife...
Think I will hold off a little while longer on a used car purchase rather than risk catching a falling knife...
Zoltar said:
It does seem like new car supply is slowly returning to normal, I am getting DriveTheDeal mailers again with some pretty good discounts and lead times on new seem to be coming down significantly (with Porsches excepted perhaps..). The big correction in used prices seems imminent now especially given the rate announcement today, it's a big jump in monthly cost if you were previously on a sub 2% deal.
Think I will hold off a little while longer on a used car purchase rather than risk catching a falling knife...
There are even new Porsches advertised on their web site. Probably the result of cancelled orders.Think I will hold off a little while longer on a used car purchase rather than risk catching a falling knife...
I have been following the 350Z market for a while and it is certainly interesting.
There is a clear cut between sellers who price the cars according what people pay, and those cars are going fast, versus a lot of still inflated prices, which cars are just lingering around an not moving.
Well priced cars are selling in a week or two, overpriced cars dont. I have followed the cars on AT for the past 3-4 weeks and the general quantity seems to be the same, around 40 cars UK wide.
So in this segment there seems to be a standoff between what people asking vs what people pay, and that seems to be around 10%.
I know this is one car in a very particular segment, but hopefully other people track other cars like this as well.
Crystal ball time: I expect this 10% to be worked into the prices in the next few weeks, as people (eg private sellers) will be probably keen actually selling their car and seeing the prices of the cars that are selling and not just advertised permanently, but I do not expect it to be a massive crash in a day.
There is a clear cut between sellers who price the cars according what people pay, and those cars are going fast, versus a lot of still inflated prices, which cars are just lingering around an not moving.
Well priced cars are selling in a week or two, overpriced cars dont. I have followed the cars on AT for the past 3-4 weeks and the general quantity seems to be the same, around 40 cars UK wide.
So in this segment there seems to be a standoff between what people asking vs what people pay, and that seems to be around 10%.
I know this is one car in a very particular segment, but hopefully other people track other cars like this as well.
Crystal ball time: I expect this 10% to be worked into the prices in the next few weeks, as people (eg private sellers) will be probably keen actually selling their car and seeing the prices of the cars that are selling and not just advertised permanently, but I do not expect it to be a massive crash in a day.
Nefos said:
I have been following the 350Z market for a while and it is certainly interesting.
There is a clear cut between sellers who price the cars according what people pay, and those cars are going fast, versus a lot of still inflated prices, which cars are just lingering around an not moving.
Well priced cars are selling in a week or two, overpriced cars dont. I have followed the cars on AT for the past 3-4 weeks and the general quantity seems to be the same, around 40 cars UK wide.
So in this segment there seems to be a standoff between what people asking vs what people pay, and that seems to be around 10%.
I know this is one car in a very particular segment, but hopefully other people track other cars like this as well.
Crystal ball time: I expect this 10% to be worked into the prices in the next few weeks, as people (eg private sellers) will be probably keen actually selling their car and seeing the prices of the cars that are selling and not just advertised permanently, but I do not expect it to be a massive crash in a day.
I have used the auto trader" value my car "on a couple of private adverts and it seems that the sellers are asking £3000 above the recommended price (jag f type)There is a clear cut between sellers who price the cars according what people pay, and those cars are going fast, versus a lot of still inflated prices, which cars are just lingering around an not moving.
Well priced cars are selling in a week or two, overpriced cars dont. I have followed the cars on AT for the past 3-4 weeks and the general quantity seems to be the same, around 40 cars UK wide.
So in this segment there seems to be a standoff between what people asking vs what people pay, and that seems to be around 10%.
I know this is one car in a very particular segment, but hopefully other people track other cars like this as well.
Crystal ball time: I expect this 10% to be worked into the prices in the next few weeks, as people (eg private sellers) will be probably keen actually selling their car and seeing the prices of the cars that are selling and not just advertised permanently, but I do not expect it to be a massive crash in a day.
Nefos said:
r1monkey said:
I have used the auto trader" value my car "on a couple of private adverts and it seems that the sellers are asking £3000 above the recommended price (jag f type)
that seems to be around 10%ish as well. do these car sell in a few weeks?Services are due, exhaust flaps seized shut, tyres just left sitting unmoved. just bloody stupid if you ask me
Chamon_Lee said:
I mentioned on the other thread, I have had certain high performance cars from 20-70k on my watchlist and all of them have sat for 6-12 months.
Services are due, exhaust flaps seized shut, tyres just left sitting unmoved. just bloody stupid if you ask me
By contrast my 6 month old AT search is now quasi empty for £20k JCWs, £35k M2s and £75k R8s. Apart from 3 non approved cars which all had dubious history and / or mods, unsurprisingly. Services are due, exhaust flaps seized shut, tyres just left sitting unmoved. just bloody stupid if you ask me
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