Is now the time to get a good deal?

[Dewi-asl8m]

I sold my car last week and now have the urge to go out and buy a new one straight away. I am currently working from home and can use the Mrs car when she's not using it but I do feel lost without my own car. Is now a good time to buy with what's going on and are there deals to be had or shall I wait it out.

[Dohnut]

New or used?

New I would say yes but think deals will probably improve further into Q3.

Used? Judging by comments on various threads on here, no.

[sie10110]

I'm in a similar boat. Sold my car but working from home so don't need two cars in the family. Gosh I want a car though.

Nothing really exciting out there in terms of deals. I sniffed around a couple of Superb Sportlines on the 4 year interest free scheme but dealers not at all interested. Tried to get a deal on a car priced just over 20k but a general disinterest and unwllingness to sell.

Fair enough, will see how things look in a few weeks time.

[davek_964]

Similar here - sold a car almost 2 weeks ago and want a replacement. I have access to two other cars though - and am WFH which will probably last until the start of next year - so it's a bit hard to justify.

Used prices are definitely not going up in the next 6 months even if they remain unaffected by the current financial crisis. So I'm in no rush - if the right car appears at the right price, I'll buy it - but I'm in no rush. And in fact haven't even figured out what the right car will be yet!

[griffter]

I think October-December and probably beyond will be a buyer‘s market.

[Toyoda]

It's a terrible time right now, hardly any new stock coming through and prices staying high due to the demand and lack of stock. Don't let that put you off buying now but its worth bearing in mind.

[Meeten-5dulx]

I'd love to give up the space that my other car is taking up (commuter hack) - it has moved all of 2 miles in the last 3m.

As for buying another, you gotto think there is more pain in the economy due in Q3-Q4 - surely that is when you should pounce.
A shortage ofsupply coming from the market is not helping depress prices - look at the premium cars , they seem to be holding their own.

If you don't NEED a car, hold fire and wait to see if the right deal comes up. It's not like you are rushing off with places to be? If you are, then you just gotto get on and buy one now.....

[av185]

High end and mainstream used cars currently at all time highs with no signs of future prices dropping due to severe supply restrictions.

[06andiano]

You missed the boat on initial panic sales and not quite early enough for the distressed market, bide your time and you will be in the best situation in 2/3 months time. Refine what you really want, get test drives and enjoy a little later down the road.

[Dewi-asl8m]

I'm not sure if it's classed as high end but I have been looking at Audi 8v A3's, mainly S-Line versions or possibly stretching to an S3. Think I sold mine too cheaply looking back. There were loads about before I sold my car. I think it's just having the patience to hold on and not rush in to buying anything.

[av185]

06andiano said:

You missed the boat on initial panic sales and not quite early enough for the distressed market, bide your time and you will be in the best situation in 2/3 months time. Refine what you really want, get test drives and enjoy a little later down the road.

No signs whatsoever of any distressed market.

Prices are rising at record levels and this looks set to continue well into next year.

[06andiano]

av185 said:

06andiano said:

You missed the boat on initial panic sales and not quite early enough for the distressed market, bide your time and you will be in the best situation in 2/3 months time. Refine what you really want, get test drives and enjoy a little later down the road.

No signs whatsoever of any distressed market.

Prices are rising at record levels and this looks set to continue well into next year.

there was in April/May behind the scenes when no end was insight and dealers had no revenue.

[Dewi-asl8m]

Suppose it's supply and demand and the S3 is quite niche. I'm looking at used cars and they do seem to have gone up a bit in the last few months. As long as I am working from home I can hold out, but I am missing having my own car.

[av185]

06andiano said:

av185 said:

06andiano said:

You missed the boat on initial panic sales and not quite early enough for the distressed market, bide your time and you will be in the best situation in 2/3 months time. Refine what you really want, get test drives and enjoy a little later down the road.

No signs whatsoever of any distressed market.

Prices are rising at record levels and this looks set to continue well into next year.

there was in April/May behind the scenes when no end was insight and dealers had no revenue.

Not talking about what happened a couple of months ago during lockdown when clearly things were quiet.

With severe restrictions on used car supplies set to continue for some considerable time, even with the inevitable redundancies into the winter period this will support prices further and further rises are inevitable.

[06andiano]

av185 said:

Not talking about what happened a couple of months ago during lockdown when clearly things were quiet.

With severe restrictions on used car supplies set to continue for some considerable time, even with the inevitable redundancies into the winter period this will support prices further and further rises are inevitable.

Sorry what? Supply will return quicker than the market does, prices will fall. Not in doubt at all.

[av185]

06andiano said:

Sorry what? Supply will return quicker than the market does, prices will fall. Not in doubt at all.

No chance.

The evidence from the supply side strongly suggests otherwise.

Just because you want prices to fall doesn't mean they will.

[Scootersp]

av185 said:

With severe restrictions on used car supplies set to continue for some considerable time, even with the inevitable redundancies into the winter period this will support prices further and further rises are inevitable.

Where has/is this severe supply shortage coming from? how has that arisen?

[av185]

Scootersp said:

av185 said:

With severe restrictions on used car supplies set to continue for some considerable time, even with the inevitable redundancies into the winter period this will support prices further and further rises are inevitable.

Where has/is this severe supply shortage coming from? how has that arisen?

Factory closures/shut downs and reduced capacity manufacturing re new cars.

Extended lease/pcp periods, fleets/hirers unable to return cars, auctions physically closed, dealers closed and volume sales restricted.