Will Coronavirus hit used car prices?
Discussion
Did you read the bit where I said "at the moment"? Or conveniently ignored that bit?
I cant see into the future like most seem to be able to on here
Who knows what will happen in 2021 or whenever, but at the moment, it's very buoyant.
Edit.
Here's an idea, why dont you all go back to the first pages of this thread and see what all us dealers were saying months ago about prices and demand, versus what the naysayers were continually quoting?
I think you will find, we got it right in our predictions, and all of the scaremongers got it so very wrong.
Prices will crash immediately, bargains galore, take my caaassshh offer right now, blah, blah.
How very wrong you all were, months ago.
I cant see into the future like most seem to be able to on here
Who knows what will happen in 2021 or whenever, but at the moment, it's very buoyant.
Edit.
Here's an idea, why dont you all go back to the first pages of this thread and see what all us dealers were saying months ago about prices and demand, versus what the naysayers were continually quoting?
I think you will find, we got it right in our predictions, and all of the scaremongers got it so very wrong.
Prices will crash immediately, bargains galore, take my caaassshh offer right now, blah, blah.
How very wrong you all were, months ago.
Edited by Mexman on Sunday 5th July 01:47
You apear ranty pissed man.
It's very early days yet, all the helicopter money and debt holidays are washing through the system.
The extent of the government money wasn't evident at the start of the thread.
Government has thrown the kitchen sink at the financial implications of shutting the economy down, that is still on-going.
Like all threads of any length, they evolve as circumstances evolve. You'd be wise to not get on your high horse.
It's very early days yet, all the helicopter money and debt holidays are washing through the system.
The extent of the government money wasn't evident at the start of the thread.
Government has thrown the kitchen sink at the financial implications of shutting the economy down, that is still on-going.
Like all threads of any length, they evolve as circumstances evolve. You'd be wise to not get on your high horse.
jsf said:
You apear ranty pissed man.
It's very early days yet, all the helicopter money and debt holidays are washing through the system.
The extent of the government money wasn't evident at the start of the thread.
Government has thrown the kitchen sink at the financial implications of shutting the economy down, that is still on-going.
Like all threads of any length, they evolve as circumstances evolve. You'd be wise to not get on your high horse.
Whilst I agree with all that I think the govt will just keep on throwing the kitchen sink at it in terms of handing out cheap/free money to the feckless spendthrifts and debt junkies, it's the only way to keep the charade that is laughingly referred to as the 'UK economy' going.It's very early days yet, all the helicopter money and debt holidays are washing through the system.
The extent of the government money wasn't evident at the start of the thread.
Government has thrown the kitchen sink at the financial implications of shutting the economy down, that is still on-going.
Like all threads of any length, they evolve as circumstances evolve. You'd be wise to not get on your high horse.
I admit I expected a bloodbath in the last three months and there wasn’t one. I offered £25k on a £30k L405 supercharged and was politely told to fook off. I thanked him for responding, explained it was a cheeky offer and that was that.
The buoyancy now it just pent up demand and cheap money imo and I think the worst is yet to come.
If i’m right, I will get a cheap car I don’t actually need and if i’m wrong it will be a relief because it means the economy wasn’t terminally injured.
The buoyancy now it just pent up demand and cheap money imo and I think the worst is yet to come.
If i’m right, I will get a cheap car I don’t actually need and if i’m wrong it will be a relief because it means the economy wasn’t terminally injured.
Mexman said:
Another car less, living at parents in the box room dreamer, who has contributed zero worthwhile posts in his short history, with even less evidence that he knows anything about what he is trying to portray. 
Making personal attacks and false assumptions does not change your situation, just shows that you’ve lost the argument. If you had half a brain, you would make a reasonable counterargument but I suppose thats why you’re a car salesman. What a sad old man.Otispunkmeyer said:
Earthdweller said:
av185 said:
Airline cuts and job losses were expected in what is the hardest hit sector by the pandemic.
As I said : That’s just one very visible high profile sector
But, my local paper is full of businesses shedding staff, places closing down others not reopening
The high St looks like a wasteland.
My wife’s business had 40% of staff in some sectors on furlough, many are back some aren’t
The business carried on throughout running about 90% and I’m pretty sure consolidation will be taking place before 2021 in both real estate and staffing
I’m pretty sure corporate boardrooms across the UK will be looking long and hard at what’s been learnt and where they need to be in the future
Hopefully I’m wrong but the autumn could see a jobs bloodbath
I say work. Worked. They're both being let go with around 40% of the total workforce. I found that crazy! I thought JCB were a bit of a success story. I didn't expect them to be doing something like that after a couple of months, considering construction is one of those sectors that seem to be able to weather storms others can't.
We’ve had pay cuts and were on a reduced working week. We’ve had some of the pay cut back and have returned to a full working week. Our fee income has taken a real battering (predicted to be down about £6m). We’re seeing a few projects being mothballed as clients start to get nervous.
The industry is hoping that the announcement of school and hospital will tide them over for a bit but there’ll be a whole lot of firms nit on government frameworks so won’t be eligible for anything.
BananaSlug said:
The used car market is screwed along with a lot of other stuff in the UK, regardless of what the salesmen say.
As pointed out by us that are at the coal face so to speak that is not currently what’s happening.These are just some of my experiences.
I personally thought demand and prices for sports cars were going to drop and sold my 991. This was not my best move as I could have been out enjoying it in the sun.
In May I recall looking at a list of ex rental car stock that is normally only about 40 cars and it was closer to 400. My actual thoughts were they would be slashing prices to move them. I was wrong on this as they held their nerve and come June they just sold them for the asking prices.
We have had our best 6 months in turnover since 2017 and that was an exceptional year due to the VED increases pushing £40k plus cars.
In hindsight there were some bargains to be had back in May when trade sales from the likes of Motability started as similar cars are now selling for £1500 more in today’s market.
Moving forwards we are trying not to be holding any stock as I sadly do think some people are going to have to tighten their belts but we are ready for it.
Let’s hope for a positive rest of 2020/2021 as after 15 years in various roles within rental / leasing / finance I would not have predicted what has happened nor where we go now.
Auto810graphy said:
As pointed out by us that are at the coal face so to speak that is not currently what’s happening.
These are just some of my experiences.
I personally thought demand and prices for sports cars were going to drop and sold my 991. This was not my best move as I could have been out enjoying it in the sun.
In May I recall looking at a list of ex rental car stock that is normally only about 40 cars and it was closer to 400. My actual thoughts were they would be slashing prices to move them. I was wrong on this as they held their nerve and come June they just sold them for the asking prices.
We have had our best 6 months in turnover since 2017 and that was an exceptional year due to the VED increases pushing £40k plus cars.
In hindsight there were some bargains to be had back in May when trade sales from the likes of Motability started as similar cars are now selling for £1500 more in today’s market.
Moving forwards we are trying not to be holding any stock as I sadly do think some people are going to have to tighten their belts but we are ready for it.
Let’s hope for a positive rest of 2020/2021 as after 15 years in various roles within rental / leasing / finance I would not have predicted what has happened nor where we go now.
Thats great you’re doing well bit I feel the pain is just starting as the furlough scheme starts tapering down next month and there has already been a huge amount of job losses.These are just some of my experiences.
I personally thought demand and prices for sports cars were going to drop and sold my 991. This was not my best move as I could have been out enjoying it in the sun.
In May I recall looking at a list of ex rental car stock that is normally only about 40 cars and it was closer to 400. My actual thoughts were they would be slashing prices to move them. I was wrong on this as they held their nerve and come June they just sold them for the asking prices.
We have had our best 6 months in turnover since 2017 and that was an exceptional year due to the VED increases pushing £40k plus cars.
In hindsight there were some bargains to be had back in May when trade sales from the likes of Motability started as similar cars are now selling for £1500 more in today’s market.
Moving forwards we are trying not to be holding any stock as I sadly do think some people are going to have to tighten their belts but we are ready for it.
Let’s hope for a positive rest of 2020/2021 as after 15 years in various roles within rental / leasing / finance I would not have predicted what has happened nor where we go now.
There will be plenty of people that wont be able to buy/change their car and plenty who won’t have the confidence to.
No one wanted this to happen and its bad for everyone, I had my eye on a couple of 991.1 gts cars a few months ago but this isn’t time for that now, I’d rather invest in property/stocks, Im expecting price drop at the start of next year.
BananaSlug said:
Auto810graphy said:
As pointed out by us that are at the coal face so to speak that is not currently what’s happening.
These are just some of my experiences.
I personally thought demand and prices for sports cars were going to drop and sold my 991. This was not my best move as I could have been out enjoying it in the sun.
In May I recall looking at a list of ex rental car stock that is normally only about 40 cars and it was closer to 400. My actual thoughts were they would be slashing prices to move them. I was wrong on this as they held their nerve and come June they just sold them for the asking prices.
We have had our best 6 months in turnover since 2017 and that was an exceptional year due to the VED increases pushing £40k plus cars.
In hindsight there were some bargains to be had back in May when trade sales from the likes of Motability started as similar cars are now selling for £1500 more in today’s market.
Moving forwards we are trying not to be holding any stock as I sadly do think some people are going to have to tighten their belts but we are ready for it.
Let’s hope for a positive rest of 2020/2021 as after 15 years in various roles within rental / leasing / finance I would not have predicted what has happened nor where we go now.
Thats great you’re doing well bit I feel the pain is just starting as the furlough scheme starts tapering down next month and there has already been a huge amount of job losses.These are just some of my experiences.
I personally thought demand and prices for sports cars were going to drop and sold my 991. This was not my best move as I could have been out enjoying it in the sun.
In May I recall looking at a list of ex rental car stock that is normally only about 40 cars and it was closer to 400. My actual thoughts were they would be slashing prices to move them. I was wrong on this as they held their nerve and come June they just sold them for the asking prices.
We have had our best 6 months in turnover since 2017 and that was an exceptional year due to the VED increases pushing £40k plus cars.
In hindsight there were some bargains to be had back in May when trade sales from the likes of Motability started as similar cars are now selling for £1500 more in today’s market.
Moving forwards we are trying not to be holding any stock as I sadly do think some people are going to have to tighten their belts but we are ready for it.
Let’s hope for a positive rest of 2020/2021 as after 15 years in various roles within rental / leasing / finance I would not have predicted what has happened nor where we go now.
There will be plenty of people that wont be able to buy/change their car and plenty who won’t have the confidence to.
No one wanted this to happen and its bad for everyone, I had my eye on a couple of 991.1 gts cars a few months ago but this isn’t time for that now, I’d rather invest in property/stocks, Im expecting price drop at the start of next year.
He actually said ' we are trying not to hold any stock as i sadly think some people are going to have to tighten there belts '
yet still you can't wait to tell him that the furlough scheme is being wound up leading to more job losses .
Auto810graphy said:
As pointed out by us that are at the coal face so to speak that is not currently what’s happening.
These are just some of my experiences.
I personally thought demand and prices for sports cars were going to drop and sold my 991. This was not my best move as I could have been out enjoying it in the sun.
In May I recall looking at a list of ex rental car stock that is normally only about 40 cars and it was closer to 400. My actual thoughts were they would be slashing prices to move them. I was wrong on this as they held their nerve and come June they just sold them for the asking prices.
We have had our best 6 months in turnover since 2017 and that was an exceptional year due to the VED increases pushing £40k plus cars.
In hindsight there were some bargains to be had back in May when trade sales from the likes of Motability started as similar cars are now selling for £1500 more in today’s market.
Moving forwards we are trying not to be holding any stock as I sadly do think some people are going to have to tighten their belts but we are ready for it.
Let’s hope for a positive rest of 2020/2021 as after 15 years in various roles within rental / leasing / finance I would not have predicted what has happened nor where we go now.
Will you trade in SOR if not holding any stock or source individually for demand customers?These are just some of my experiences.
I personally thought demand and prices for sports cars were going to drop and sold my 991. This was not my best move as I could have been out enjoying it in the sun.
In May I recall looking at a list of ex rental car stock that is normally only about 40 cars and it was closer to 400. My actual thoughts were they would be slashing prices to move them. I was wrong on this as they held their nerve and come June they just sold them for the asking prices.
We have had our best 6 months in turnover since 2017 and that was an exceptional year due to the VED increases pushing £40k plus cars.
In hindsight there were some bargains to be had back in May when trade sales from the likes of Motability started as similar cars are now selling for £1500 more in today’s market.
Moving forwards we are trying not to be holding any stock as I sadly do think some people are going to have to tighten their belts but we are ready for it.
Let’s hope for a positive rest of 2020/2021 as after 15 years in various roles within rental / leasing / finance I would not have predicted what has happened nor where we go now.
BananaSlug said:
Making personal attacks and false assumptions does not change your situation, just shows that you’ve lost the argument. If you had half a brain, you would make a reasonable counterargument but I suppose thats why you’re a car salesman. What a sad old man.
How have I lost the argument exactly?
Personal attacks, err...hang on a second, have you read back to yourself, your own posts?
It appears that most car salesman on here got it right at the beginning, so much for us having half a brain eh?
Where are all of these bargains?
Some like Eliot are man enough to admit they got it wrong months ago, and fair play to him.
How long it will last is a pure guess, make hay whilst the sun shines and all that.
Others however, need to go and relieve themselves over the lingerie section, in their Mums Kay's catalogue.
Court_S said:
Construction isn’t weathering it all that well. Lots of the big contractors (eg Wates) are shedding staff, lots of architect practices don’t expect to survive. I’m a PQS and some of our competitors are shedding staff already (G&T, RLB). Travis Perkins have shed a bunch of staff and are closing outlets.
We’ve had pay cuts and were on a reduced working week. We’ve had some of the pay cut back and have returned to a full working week. Our fee income has taken a real battering (predicted to be down about £6m). We’re seeing a few projects being mothballed as clients start to get nervous.
The industry is hoping that the announcement of school and hospital will tide them over for a bit but there’ll be a whole lot of firms nit on government frameworks so won’t be eligible for anything.
I'm a QS who was badly burned by the credit crunch. Learned my lesson and as things picked up took a safe position with a facilities management company looking after hospitals, schools, prisons, MOD estates and social housing.We’ve had pay cuts and were on a reduced working week. We’ve had some of the pay cut back and have returned to a full working week. Our fee income has taken a real battering (predicted to be down about £6m). We’re seeing a few projects being mothballed as clients start to get nervous.
The industry is hoping that the announcement of school and hospital will tide them over for a bit but there’ll be a whole lot of firms nit on government frameworks so won’t be eligible for anything.
Money was never great but looking where I am today I'm in a much better place than colleagues who chased the big bucks with private development contracts and are now seeing notice of redundancy procedure letters coming through their doors.
Court_S said:
Otispunkmeyer said:
Earthdweller said:
av185 said:
Airline cuts and job losses were expected in what is the hardest hit sector by the pandemic.
As I said : That’s just one very visible high profile sector
But, my local paper is full of businesses shedding staff, places closing down others not reopening
The high St looks like a wasteland.
My wife’s business had 40% of staff in some sectors on furlough, many are back some aren’t
The business carried on throughout running about 90% and I’m pretty sure consolidation will be taking place before 2021 in both real estate and staffing
I’m pretty sure corporate boardrooms across the UK will be looking long and hard at what’s been learnt and where they need to be in the future
Hopefully I’m wrong but the autumn could see a jobs bloodbath
I say work. Worked. They're both being let go with around 40% of the total workforce. I found that crazy! I thought JCB were a bit of a success story. I didn't expect them to be doing something like that after a couple of months, considering construction is one of those sectors that seem to be able to weather storms others can't.
We’ve had pay cuts and were on a reduced working week. We’ve had some of the pay cut back and have returned to a full working week. Our fee income has taken a real battering (predicted to be down about £6m). We’re seeing a few projects being mothballed as clients start to get nervous.
The industry is hoping that the announcement of school and hospital will tide them over for a bit but there’ll be a whole lot of firms nit on government frameworks so won’t be eligible for anything.
Venisonpie said:
Will you trade in SOR if not holding any stock or source individually for demand customers?
Our main business is vehicle leasing where we are a broker for some of the major finance companies so quite a lot is new. Alongside this we provide sourcing and alternative finance as well as some used sales as we often need to handle the disposal of clients vehicles.Due to our customer base we do get some high end cars in so most used stuff over £50k gets traded or SOR with trusted partners but we do need to watch prices as these cars are technically ours for a short period of time between the finance being settled and the car being sold.
Basically we are keeping an eye on what we have and trying to sell it within 21 days of arrival, if this does not happen price drops and trade out options.
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