Will Coronavirus hit used car prices?

Will Coronavirus hit used car prices?

Author
Discussion

mike74

2,198 posts

90 months

Wednesday 11th March
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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.

liner33

7,856 posts

160 months

Wednesday 11th March
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Dead people dont need to drive so used prices of Honda Jazz, Rover 75 and Toyota Avensis will likely drop as the market becomes flooded.


67Dino

1,737 posts

63 months

Wednesday 11th March
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I’m guessing the price of these may suffer a bit.


Blakewater

3,582 posts

115 months

Wednesday 11th March
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Part of the problem as well is oil price wars affecting the stock market and devaluing companies. That will affect investment, bonus payments, wage rises and customer confidence.

Deranged Rover

674 posts

32 months

Wednesday 11th March
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I’m guessing Alfa values might drop.

fatboy b

8,744 posts

174 months

Wednesday 11th March
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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.
Italy has the second oldest population in the world. That’s why they’re suffering with a high percentage of deaths.

XIII

4,553 posts

56 months

Wednesday 11th March
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67Dino said:
I’m guessing the price of these may suffer a bit.

I just sold my Toyota ISIS to get one of those!

LuS1fer

36,573 posts

203 months

Wednesday 11th March
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In the 80s and 90s, many Toyotas died from the Corollavirus.

It was so boring.

80sMatchbox

3,754 posts

134 months

Wednesday 11th March
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'I have cash, I can offer you (some silly offer)' calls will increase for those selling!

I'm half looking for a car, so I welcome a bit of a dip. smokin

mike74

2,198 posts

90 months

Thursday 12th March
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80sMatchbox said:
'I have cash, I can offer you (some silly offer)' calls will increase for those selling!

I'm half looking for a car, so I welcome a bit of a dip. smokin
Might work with a private seller, but as I already said, lower IR's and more printy printy means that anything for sale at dealers (especially anything that can vaguely be described as ''classic/exotic/performance'' or ''appreciating future classic'') means the debt pushers and debt junkies will be pushing prices even higher than the current stupid bubble prices for these kind of cars.
Thursday 12th March
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liner33 said:
Dead people dont need to drive so used prices of Honda Jazz, Rover 75 and Toyota Avensis will likely drop as the market becomes flooded.
laugh and all those Micras being driven very very very s l o w l y

loskie

2,311 posts

78 months

Thursday 12th March
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who knows, new car building may be affected, factory shutdowns a shortage of parts. This may actually boost the demand for cars. The recent flooding in areas of the UK too must have also peaked some demand.
There may be an upside.

Wilmslowboy

2,990 posts

164 months

Thursday 12th March
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ging84 said:
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.
There are some interesting dynamics at play with the new car mkt.

Millions of customers on PCP deals, who when they come to the end of their deal, will

Not be able to afford to pay the GFV (buy their own PCP car)
Live without a car (hand it back and do nothing)
Afford to buy a used car (hand the PCP car back and replace with a used car)


This could mean the cheapest option (in cash terms) is to buy a new car on PCP.



R.Sole

11,403 posts

164 months

Thursday 12th March
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Wilmslowboy said:
There are some interesting dynamics at play with the new car mkt.

Millions of customers on PCP deals, who when they come to the end of their deal, will

Not be able to afford to pay the GFV (buy their own PCP car)
Live without a car (hand it back and do nothing)
Afford to buy a used car (hand the PCP car back and replace with a used car)


This could mean the cheapest option (in cash terms) is to buy a new car on PCP.
Exactly what PCP is designed to do!

CRA1G

4,453 posts

153 months

Thursday 12th March
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I'm sure we'll see Dealers incentives with every car Sold..... FREE 24 months supply of Bog Rolls.... FREE fill up with Hand Sanitiser... FREE Deposit Scrappage schemes for all vehicles no longer required by the Elderly.... getmecoat

smartypants

47,208 posts

127 months

Thursday 12th March
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hehe

One careful elderly lady owner. Fully sanitized.

Justin Case

1,816 posts

92 months

Thursday 12th March
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Next to the other implications this isn't really important, what is potentially more worrying is that people may lose their jobs as a result of customers staying away

Nicks90

176 posts

12 months

Thursday 12th March
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Well if all the old people die, there should be a flood of lexus and old mercs/jags coming to market as executors clear people's estates.

loskie

2,311 posts

78 months

Thursday 12th March
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bargetastic

av185

12,154 posts

85 months

Thursday 12th March
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The new car market will essentially grind to a halt resulting in a severe shortage of quality used stock.

This has been apparant through Jan Feb and March as quality used 3 year old cars have risen in value up to 10%.

To counteract this rise and going forward buyers will have less to spend and confidence will take a hit so broadly strong prices will be maintained and there won't be the bargains around some are hoping for.

As ever the best cars will command the best prices both mainstream and high end.