Which way are used performance car prices going?
Discussion
What do you all reckon to the direction of used performance car prices now that the route out of lockdown has been announced?
From a position of very little knowledge, I'm conflicted by the following:
1. I assume dealers are quiet (lockdown, time of year) so would usually expect now to be a good time to buy (or possibly April with all the p/x coming from people buying new-plate cars & PCPs ending).
2. Uncertainty (economic and "what will life be like") would usually depress prices.
3. There's a shortage of used stock due to fewer purchases of new cars, so simple supply & demand suggests higher used prices (I certainly think has happened in many car sectors, but not sure about higher end performance e.g. £50k+).
4. If the predicted spending splurge happens when retail reopens, I assume that will happen in the car market too (particularly by those fortunate to have been saving cash and holding on to their jobs/businesses), so will prices only go up from now on?
The question then: If you wanted to spend a big chunk on a used performance car, will you get a better deal now, later this year, or not until next year?
From a position of very little knowledge, I'm conflicted by the following:
1. I assume dealers are quiet (lockdown, time of year) so would usually expect now to be a good time to buy (or possibly April with all the p/x coming from people buying new-plate cars & PCPs ending).
2. Uncertainty (economic and "what will life be like") would usually depress prices.
3. There's a shortage of used stock due to fewer purchases of new cars, so simple supply & demand suggests higher used prices (I certainly think has happened in many car sectors, but not sure about higher end performance e.g. £50k+).
4. If the predicted spending splurge happens when retail reopens, I assume that will happen in the car market too (particularly by those fortunate to have been saving cash and holding on to their jobs/businesses), so will prices only go up from now on?
The question then: If you wanted to spend a big chunk on a used performance car, will you get a better deal now, later this year, or not until next year?
Prices will ebb & flow if you find a good example of what you're looking for at what is a good price on the day you buy it then you got a good deal.
Prices won't change much for a while but if I'm buying a performance car then I need to drive the example I'm looking at buying & that's why I'd wait.
Prices won't change much for a while but if I'm buying a performance car then I need to drive the example I'm looking at buying & that's why I'd wait.
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