Will Coronavirus hit used car prices?

[Vroomer]

During the 2008 financial crisis used car prices fell like a stone before recovering in 2009.

Do you think the current Coronavirus crisis will have a similar impact?

[DSLiverpool]

Vroomer said:

During the 2008 financial crisis used car prices fell like a stone before recovering in 2009.

Do you think the current Coronavirus crisis will have a similar impact?

I bought a 2-year-old DB9 Volante in 2008 for £49k was an amazing deal on a admittedly slightly leggy car on 20k

[lee_erm]

Angela Merkel has suggested 2/3 of Germans could contract COVID-19. The current mortality rate in Italy is I think above 5%. I'd say yes if we're talking worst case infection scenarios.

[Riley Blue]

lee_erm said:

Angela Merkel has suggested 2/3 of Germans could contract COVID-19. The current mortality rate in Italy is I think above 5%. I'd say yes if we're talking worst case infection scenarios.

Wrong thread, this one is about used car prices.

[Dave Hedgehog]

people will generally stop buying stuff

those that need to sell will take a big hit

[PH01]

Yes, drastically !
We've seen nothing yet, it's going to get proper messy.

[JuniorD]

I think it's only the Toyota Corona that's susceptible to the eponymous virus

[lee_erm]

Riley Blue said:

Wrong thread, this one is about used car prices.

You strike me as the sort of guy who is well stocked up on toilet paper at the moment

[V8 FOU]

Bloody Daily Mail readers.....

House prices, car prices, bog roll prices........

We're all doomed Captain

[Riley Blue]

lee_erm said:

Riley Blue said:

Wrong thread, this one is about used car prices.

You strike me as the sort of guy who is well stocked up on toilet paper at the moment

First the wrong thread, now the wrong conclusion.

[Vroomer]

Riley Blue said:

lee_erm said:

Angela Merkel has suggested 2/3 of Germans could contract COVID-19. The current mortality rate in Italy is I think above 5%. I'd say yes if we're talking worst case infection scenarios.

Wrong thread, this one is about used car prices.

Thank you!

[anxious_ant]

Perhaps it will. How sure that the used car isn't infested with Covid-19?

[Jasandjules]

With some people not going out as much I suspect both car and house prices will take a hit. Supply and demand and all that.

[isosonic]

The reasonable worst case scenario of this is a mortality rate of 0.8% of the population, with the virus peaking in May (hopefully). It's certainly going to be interesting the next few months, used car prices notwithstanding. I feel sorry for everyone affected by the fallout from this, particularly the self-employed. Schools will be closing shortly.

[G_Morto]

As someone who has ordered a lease car and will be selling their current car to pay off the existing bank loan - I hope not!

[WonkeyDonkey]

I'd quite like Elise prices to go back down to 2008 levels so I can buy mine back!

[Scootersp]

Riley Blue said:

lee_erm said:

Riley Blue said:

Wrong thread, this one is about used car prices.

You strike me as the sort of guy who is well stocked up on toilet paper at the moment

First the wrong thread, now the wrong conclusion.

The guy was making a point about less people = less demand, potentially loss of businesses/loss of jobs = less demand.

You could have countered with most fatalities are older people and many won't have a car or something but to disregard his post as irrelevant was asking for a rebuke no?

[0a]

I work in a sector related to the travel industry. We have already banned overtime, will not be taking on new hires, and are getting rid of all contractors. We will probably delay paying bonuses.

This has the potential to feed through the economy, and when people don't feel confident, they delay spending or keep their old car for longer. So I'd say yes, there might be some bargains about!

[ging84]

New car sales are likely to come to a halt, this typically has a knock on affect of reducing supply of used cars so thier values go up, however low interest rates have meant dealers are holding a lot more stock than they used to, so this might not happen.

[mike74]

Interest rates down, printing presses back up to full speed.... there's only one way used car prices are going thanks to the debt pushers and debt junkies.